What is the future of Firefighting Foam Market? Know Covid Impact on Size, Share & Forecasts
June 15, 2020
The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Firefighting Foam Market.
It was estimated prior to this unanticipated outbreak that the Firefighting Foam Market was expected to grow at CAGR of 5.2% during forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.
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Metallized film is mainly a polymer film coated with a metal layer, mostly aluminum. The film is known to offer a glossy look without adding much weight.
Metallized film is used in a number of places today such as packaging, decorative, and others.
This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.
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Based on the type, the market is segmented as aqueous film forming foam (AFFF), alcohol resistant aqueous film forming foam (AR-AFFF), protein foam, synthetic detergent foam (High & Mid Expansion Foam), and others. The demand for AFFF was the highest in 2018, owing to its extensive usage by the oil & gas industry, which is due to the huge risk of fires from flammable liquids. AFFF is favored as it owns such fires effectively and bears a longer shelf life.
Based on the end-use industry type, the market is segmented as oil & gas, aviation, marine, mining, and others. The oil & gas end-use industry is the largest consumer of firefighting foam. This high consumption is on account of the grave risk of fire accidents and the efficiency of firefighting foam in fighting out such fire outbreaks.
In terms of regions, Asia-Pacific is large and fast growing market for firefighting foam and is estimated to maintain its dominance during the forecast period as well. The market is driven by various countries, adopting downstream activities, such as refining and processing because of the increasing demand for oil & gas in the region. Further, the enormous investments by various national oil companies in the region are boosting the growth of the oil & gas industry and hence, these factors are underpinning the demand for firefighting foam in the Asia-Pacific region. North America and Europe are also expected to offer substantial growth opportunities in the coming five years.
Key Players:
Some of the major players in the firefighting foam market are Angus Fire Limited, Auxquimia, Buckeye Fire Equipment Company, Bavaria Egypt S.A.E., Dafo Fomtec AB, Fireade Inc., Johnson Controls International PLC., KV Fire Chemicals Pvt. Ltd., and Oil Technics (Fire Fighting Products) Ltd.
Features of the Report
This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.
The Firefighting Foam Market analysis report discusses the following heads in great detail:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- COVID-19 Impact Assessment
- Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
- Market trend and forecast analysis
- Market segment trend and forecast
- Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends
- Strategic growth opportunities for the existing and new players
- Key success factors
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