Firefighting Foam Market Report Covers Future Trends with Research Forecast 2027

Key drivers of market growth include increased demand from various industries and government regulations concerning fire safety.

WILMINGTON, DELAWARE, UNITED STATES, May 6, 2024 /EINPresswire.com/ -- The "Firefighting Foam Market" report by Allied Market Research forecasts significant growth in the global firefighting foam industry. In 2019, the market was valued at $856.3 million and is expected to reach $1.14 billion by 2027, with a Compound Annual Growth Rate (CAGR) of 3.6% from 2020 to 2027.

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Key drivers of market growth include increased demand from various industries and government regulations concerning fire safety. However, the ban on fluorinated firefighting foams poses a challenge to market expansion. Yet, innovations in fire extinguishing products are poised to create lucrative opportunities.

The Aqueous Film Forming Foam (AFFF) segment holds the largest market share, constituting around one-third of the market in 2020 and projected to maintain dominance throughout the forecast period. AFFF's versatility in handling both class A and class B fires contributes to its growth, with an expected fastest CAGR of 3.9% by 2027. Other segments analyzed include Alcohol Resistant Aqueous Film Forming Foam (AR-AFFF), protein foam, and synthetic detergent foam.

Among end-users, the oil & gas segment is anticipated to register the highest CAGR of 3.9%, owing to widespread use in an industry prone to fire incidents. Additionally, stringent regulations regarding fire safety in the oil & gas sector further drive segment growth. Other analyzed segments include aviation, marine, and mining.

Geographically, Asia Pacific leads the market, accounting for nearly one-third of the market share in 2020, with an expected fastest CAGR of 3.9% from 2020 to 2027. This growth is attributed to demand from emerging economies like China, India, Australia, and South Korea. Conversely, North America is projected to register a CAGR of 3.2% during the forecast period.

Major market players include Dr. Sthamer, National Foam, Angus Fire Ltd., Kerr Fire, Sffeco Global, DafoFomtec Ab, Solberg, Auxquima, Perimeter Solutions, Eau&Feu, DIC Corporation, Johnson Controls International Plc, Ansul, Chemguard, Williams Fire, and Sabo Foam.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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