Rise in demand from end-use industries and government rules and regulations regarding fire safety have propelled the growth of the global firefighting foam market. By type, the aqueous film forming foam (AFFF) held the largest market share in 2018. Contrarily, by end user, the oil & gas segment dominated the market in 2018. Moreover, the Asia-Pacific region would garner the fastest CAGR by 2026.
Allied Market Research recently published a report, titled, “Firefighting Foam Market by Type (Aqueous Film Forming Foam (AFFF), Alcohol Resistant Aqueous Film Forming Foam (AR-AFFF), Protein Foam, Synthetic Detergent Foam, and Others), and End-Use Industry (Oil & Gas, Aviation, Marine, Mining, and Others):Global Opportunity Analysis and Industry Forecast, 2020–2027”. According to the report, the global firefighting foam industry was pegged at $856.3 million in 2019, and is projected to reach $1.14 billion by 2027, growing at a CAGR of 3.6% from 2020 to 2027.
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COVID-19 impact analysis
The outbreak of the COVID-19 pandemic left a significant impact on the global economy. The firefighting foam market report provides a detailed study of the micro- and macro-economic impacts of the pandemic. Moreover, the analysis depicts the direct impact of COVID-19 on the firefighting foam market. It recapitulates the detailed information about the market extent and shares owing to the impact of the outbreak. The report also emphasizes on the supply chain and the sales of the firefighting foam market. Last but not the least; the study also exhibits a post-COVID-19 scenario, portraying different measures and initiatives taken by the government bodies across the world.
The AFFF segment held the largest share in 2020, accounting for around one-third of the global firefighting foam market. The segment would dominate the market throughout the forecast period. In addition, the segment is expected to register the fastest CAGR of 3.9% by 2027. The aqueous film forming foam (AFFF) can be used in both class A and class B fire cases, which drives the growth of the segment. The market also analyzes segments including alcohol resistant aqueous film forming foam (AR-AFFF), protein foam, and synthetic detergent foam.
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Some ruling enterprises in the global firefighting foam market are examined in the report along with the citation of innovative product launches by them, their collaborative undertakings & endeavors, several merges & acquisitions, and many more. The frontrunners operating in the global firefighting foam industry include Dr. Sthamer, National Foam, Angus Fire Ltd., Kerr Fire, Sffeco Global, DafoFomtec Ab, Solberg, Auxquima, Perimeter Solutions, Eau&Feu, DIC Corporation.
The region is expected to manifest the fastest CAGR of 3.9% in between 2020 to 2027. This is owing to the demand from emerging economies such as China, India, Australia, and South Korea. On the other hand, region across North America is expected to register the fastest CAGR of 3.2% during the forecast period. The market also offers an in-depth study of regions including LAMEA and Europe.
Major Inclusions-
- Qualitative as well as quantitative assessment of the market on the basis of the detailed categorization involving both the economic and non-economic factors.
- Analysis at country and regional level, which portrays the share of the product or service in different regions.
- Elaborative company profiles section, which provides different pointers such as key executives, business enactment, company overview, product/service portfolio, R&D expenditure, current scenario, and prime strategies of the key market players.
- The forecasted market outlook of the firefighting foam market based on recent developments, which incorporate the analysis of drivers, market trends, and growth opportunities.
- The COVID-19 impact on the firefighting foam market
- Post-sales support and free customization
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