Firefighting
Foam Market is Estimated to Witness Steady Growth Owing to Increasing
Industrialization



Firefighting foam, also known as aqueous film forming foam (AFFF), is a
firefighting foam that is used to extinguish hydrocarbon fuel fires, such as
gas, oil, grease, and flammable liquid fires. It works by developing an aqueous
film that spreads across the fuel, sealing oxygen out and inhibiting the spread
of flames on the fuel surface. It is used in numerous industries such as oil
& gas, aviation, marine, and defense among others. The foam is applied
through portable foam extinguishers or through permanently installed low expansion
foam generators. With a rising number of infrastructure projects and
industrialization worldwide, the risks of fires have increased significantly
over the last few years. This has propelled the demand for effective
firefighting agents like firefighting foam across various applications.



The global Firefighting Foam Market is estimated to be valued at US$ 7.31 Bn in 2023 and is expected to
exhibit a CAGR of 6.1% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.



Market Dynamics:

Increasing industrialization is one of the key drivers propelling the growth of
the firefighting foam market. With rapid industrial development worldwide, the
risks of industrial incidents and accidents have increased tremendously.
Industries involved in manufacturing, oil & gas, aviation, marine, defense,
and other high-risk sectors extensively use firefighting foam for protection
against flammable liquid fires. According to the World Bank, industrial sector
GDP growth in developing economies grew by 15% between 2010-2020. Moreover,
increasing investments in infrastructure projects and economic developments
programs in emerging nations have augmented industrial activities.



Increasing industrialization has led to a rise in the frequency and scale of
hydrocarbon fuel fires at manufacturing sites, refineries, airports, and
shipyards among others. This has propelled the demand for effective fire
suppression agents like firefighting foam across various end-use industries.
The unique properties of firefighting foams in sealing oxygen, cooling fuel
surfaces and developing an aqueous film make them suitable extinguishing agents
for Class B fires involving flammable liquids and gases.



SWOT Analysis

Strength: Firefighting foam is specially formulated to quickly extinguish
flammable liquid fires and prevent re-ignition. It spreads easily over the fire
and sticks to vertical and horizontal surfaces. Firefighting foam reduces the
chances of re-ignition and helps ensure complete extinguishment of fires.

Weakness: Regular replacement and maintenance of firefighting foams increase
the operational costs. Alternative fire suppression methods are being explored
which can reduce the usage of firefighting foams. Certain types of firefighting
foams have been found to contain PFAS chemicals which are considered hazardous
to humans and the environment.

Opportunity: Growing industrialization and rise in infrastructure development
are leading to increased fire risk which is expected to drive the need for stronger
fire protection measures including firefighting foams. Stringent fire safety
regulations worldwide are mandating proper installation of fire protection
systems in industrial facilities.

Threats: Environmental concerns and regulations around the use of PFAS
containing firefighting foams are restricting their applications. Alternative
fire suppression technologies are gaining popularity and can replace
firefighting foams in the long run.



Key Takeaways



Global
Firefighting Foam Market Size is expected to witness high growth over
the forecast period of 2023 to 2030. The market stood at a valuation of US$ 7.31 Bn in 2023 and is anticipated
to reach US$ 12.24 Bn by 2030, expanding at a CAGR of 6.1%.



Regional analysis: Asia Pacific dominates the global firefighting foam market
with over 30% share in 2023 led by strong industrial growth in China and India.
The region is projected to continue its dominance over the forecast period on
account of rapid urbanization, infrastructural development and rising safety
measures. North America and Europe hold more than 45% collective share and
stringent regulatory landscape will support moderate growth.



Key players: The key players operating in the firefighting foam market are Tyco
Fire Protection Products, Chemguard, National Foam, Angus Fire, Amerex
Corporation, Oil Technics (Fire Fighting Products), Dr. Richard Sthamer, Profoam,
IFP INDIA, Delta Fire, Dafo Fomtec, HD Fire Protect, KV Fire Chemicals, DIC
Corporation, Johnson Controls, Dr Sthamer.

Explore More Related Article On This
Topic: https://www.newsanalyticspro.com/firefighting-foam-market-estimated-to-reach-us7-31-billion/

Explore More Related Article On: https://themediumblog.com/the-eyewear-market-is-estimated-to-witness-high-growth-owing-to-opportunity-of-increased-demand-for-prescription-eyewear/