Jul 17, 2020 5:00 PM ET
4169 1594811746

iCrowd Newswire – Jul 17, 2020

Firefighting Foam Market size is forecast to reach $993.42 million by 2020, after growing at a CAGR of 7% during 2020-2025. Firefighting foam is foam that is usually designed to control fire. They have the ability to cool the fire and cover the gas so they can prevent its direct contact with oxygen completely. Furthermore, with technological advancements in the fluorine free foams, and rising fire related incidents in oil & gas industry are the factors responsible for the growth of this market.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=500175

Report Price: $ 4500 (Single User License)  

By Product Type- Segment Analysis

The aqueous film forming foam segment held the largest share in the Firefighting foam market in 2019. The demand of Aqueous Film Forming Foam is driven by its use in the oil & gas industry. The fact that the oil & gas industry is more fire-prone and Aqueous Film Forming Foam prevents these fires effectively. Secondly, Aqueous Film Forming Foam has longer shelf life. The Aqueous Film Forming Foams are also compatible with all currently available dry chemical powder agents. The Alcohol resistant Film forming Foam market is the second most growing market. It is used in high risk facilities such as refineries, pharmaceutical plants, process areas and so on. The oil & gas is one of the most present and essential resources in everyday life. The oil & gas industry is one of the most powerful branches in the world economy. More than four billion metric tons of oil is produced worldwide annually. Oil demand has been rising steadily over the last decades. This factor will drive the growth of the market in the forecast period.

By End use Industry – Segment Analysis

The oil & gas industry has the primary market for Firefighting Foam growing at a CAGR of 9.3%. It is the best fire protection solution for fires caused due to flammable liquids. In oil & gas industry, the risk of oil-based fires is high and hence the demand for Firefighting foam is increasing. According to the US Fire administration, there are 19000 fire fatal incidents and 7000 fire resulting injuries occurred in the year 2017, which resulted in heavy casualty and loss of the public property. The same data release by Fire & rescue department of UK, there are 182,825 fire incidents occurred in the year 2018-19 in England and Wales. According to Directorate General of NDRF & Civil Defense (Fire), there is an increase of 20% in the Fire Incidents in India. The increasing of Fire Incidents in Factories, Industries, Refineries, and plants has created an opportunity for the Firefighting Foam market globally.

Geography – Segment Analysis

Asia-Pacific (APAC) dominated the Firefighting foam market with a share of 38% followed by North America and Europe. The economy of APAC is mainly influenced by the economic dynamics of countries such as China and India, but with growing foreign direct investment for economic development of South East Asia, the current scenario is changing. Countries in South East Asia are witnessing high growth in oil & gas industry and mining industry which ultimately beneficial for the Firefighting Foam Market. China was the leading regional market, due to the presence of Aviation sector and Oil refineries. India is the second major market after china. The coronavirus pandemic has had far-reaching consequences beyond the spread of the disease and efforts to quarantine it. As the pandemic has spread around the globe, concerns have shifted from supply-side manufacturing issues to decreased business therefore, it hinders the growth of fighting foam market. One of the linchpins of global economy is the oil and gas industry, more specifically oil. The appearance of Corona virus in December 2019 in China and gradual expansion of the epidemic drastically brought down demand and price of the crude oil. Global level travel bans along with grounding of international flights leads to heavy reduction in consumption of aviation turbine fuel (ATF) across the globe. COVID-19’s spread across 175 countries means the virus is bound to affect international travel for a longer period of time. It is expected that global oil demand may shrink by 15-20 million barrels for day due to Corona effect including extensive lockdown. This factor will hamper the growth of market for the year 2020.

Talk to one of our sales representative about the full report by providing your details in the link below:

https://www.industryarc.com/support.php?id=500175

Drivers – Firefighting Foam Market

  • Increased in fire-related expenditure by Industries will drive the market

This increase in fire-related spending by a number of Industries and small-medium companies across the globe is driving the market of Firefighting Foam. The companies from the oil, gas, and mining sector are increasing their spending on fire suppression. They are employing firefighting foams to prevent and contain the critical fire accidents, happening in onshore and offshore oil, gas, and mining facilities because of the hydrocarbons that are released from pipelines and process plants. The rise in infrastructural investment, coupled with the increase in demand for protective equipment is anticipated the growth of the market in the forecast period.

  • Increasing shift towards the Eco-Friendly Firefighting Foam will drive the market

Various types of firefighting foams contain fluorochemical which has proved to be harmful to the environment and to the human race.  Among the commonly used foams, fluorochemical is present in FP, FFFP, AFFF and AR-AFFF.  Manufacturers usually use fluorochemical in foam due to various advantages such as it provides increasing extinguishment speed, provides a thin film to suppress vapors and to add oleo phobic properties to the foam. But recently, various regulatory authorities such as USEPA have banned the use of fluorosurfactants that are C8 in the fluorocarbon chain length. These types of fluorosurfactants are PBT i.e. Persistence, bioaccumilative and toxic in the environment. Hence, the shift to C6 from C8 by various manufacturers has resulted in a new range of firefighting foams which are considered environmentally safe and subsequently drives the growth of the market in the forecast period.

Challenges – Firefighting Foam Market

  • Absence of international regulatory body will hamper the growth of the market

Tight government regulations for the production of Firefighting foam, and the absence of international regulatory body that can approve the Firefighting foam are anticipated to be the major restrain in the growth of its global market. Presently, Most of the manufacturers are producing Firefighting foam following specific regulations of a particular country to pass the test for their product in that respective country. Until 2001, when the European Standard EN-1568 unified the criteria for approving and evaluating the foam concentrates, each country used its own standards, making it difficult to compare the quality of foam concentrates manufactured in different countries. Since 2001, the reference standard in Europe for testing and qualification of foam is the standard EN-1568, consisting of four parts, namely, EN-1568-1, EN-1568-2, EN-1568-3, and EN-1568-4. Apart from this, the other standards followed globally include UL162, ECHA, ICAO Levels A, B & C, IMO, CAP 437, LASTFIRE, MIL-F-24385, NFPA 11 and others. In certain Australian countries, the Government has introduced a ban on the use of fluorinated firefighting foams due to concerns about the harmful impact of the chemicals on the environment. The ban covers all types of fluorinated firefighting foams, both C8 types and C6 types. Hence, as various countries follow different regulatory standards; this acts as a restraint for the growth of the firefighting foams on the global level as major manufacturers are unable to expand their reach to different countries if their products do not pass the test of the country. Different manufacturers would not prefer to expand to newer countries due to differing tests their product will have to pass. Hence, this factor is expected to restrain the growth of firefighting foam market, globally.

Acquisitions/Technology Launches

  • In January 2015 Dafo Fomtec AB developed formulations from C8 to C6, and only produce firefighting foam that are completely C6. This helped the company adhere to the environmental policy.
  • In May 2017, Dafo Fomtec AB partnered with Delta Fire (UK) as an authorized distributor for its products in UK. Through this partnership, the company could expand its reach to UK customers.

Key Takeaways

  • Asia-Pacific dominates the Firefighting Foam market owing to increasing demand from the oil & gas industries present in the region.
  • The Growing demand for the environment-friendly safe firefighting foam among the users is likely to aid in the market growth.
  • Increasing expenditure on fire-related incidents at industrial sites drives the growth of the firefighting foam market
  • The absence of international regulatory body that can approve firefighting foam are anticipated to be the major restrain in the growth of the global market.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Fire-fighting foam market. In 2019, the market of Firefighting foam market has been consolidated by the top five players accounting for xx% of the share. Major players in the Fire-fighting market are Kerr Fire, Angus Fire, EAU&FEU, DIC Corporation, SFFECO Global and others.

Related Reports :

Chloroform Market

https://www.industryarc.com/Report/17691/chloroform-market.html

PET Foam Market

https://www.industryarc.com/Report/16079/pet-foam-market.html

About IndustryARC : IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.

Contact Information:

Venkat Reddy
Email: [email protected]
Website: https://www.industryarc.com/
Phone: (+1) 970-236-3677


iCrowdNewswire

Keywords:    Fire Figting Foam market, Fire Figting Foam market size, Fire Figting Foam industry, Fire Figting Foam market share, Fire Figting Foam top 10 companies, Fire Figting Foam market report, Fire Figting Foam industry outlook