The oil & gas segment is anticipated to register the highest CAGR of 3.9% during the forecast period. Moreover, the segment held the largest share in 2020, accounting for nearly one-third of the market. This is due to wide use of firefighting foams in the oil & gas industry, as the sector is prone to fire outbreaks. In addition, the oil & gas companies need to comply with several stringent rules & regulations regarding fire safety, which drives the growth of the segment. The market also analyses the aviation, marine, and mining segments.
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The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The market across Asia Pacific held the largest share in 2020, accounting for nearly one-third of the market. In addition, 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.
This makes it important to understand the practical implications of the Firefighting foam market. To gain a competitive advantage, the players must have something unique. By tapping into the untapped market segment, they can establish a relevant point of differentiation, and this report offers an extension analysis of untapped segments to benefit the market players and new entrants to gain the market share.
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.
KEY MARKET PLAYERS:
The report provides the SWOT analysis of the key market players 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. The latest news related to industry developments in terms of market expansions, acquisitions, growth strategies, joint ventures, collaborations, product launches, market expansions etc. are included in the report for the better understanding of the stakeholders in framing strategic decisions to gain long term profitability and market share.
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.
NEED FOR THE REPORT:
The current situation of pandemic makes it very important for the stakeholders in the Firefighting foam market to understand the market deeply, which will help them in taking sound decisions, to gain the competitive advantage. By exploring the unexplored areas of market, the key players can surely gain a larger market share.
Increase in demand from end-use industries and government rules and regulations regarding fire safety have boosted the growth of the global firefighting foam market. However, ban on fluorinated firefighting foams hamper the market growth. On the contrary, innovations in fire extinguisher products is expected to create lucrative opportunities in the near future.
KEY OFFERINGS OF THE REPORT:
- Key drivers & Opportunities: An extensive analysis on key factors and opportunities available in different segments for strategizing.
- Current trends & forecasts: A comprehensive analysis on latest trends, and forecasts for next few years to frame strategic decisions as a next step.
- Segmental analysis: An extensive analysis of each segment and driving factors such as revenue and growth rate is offered.
- Regional Analysis: A thorough analysis of each geographic region can help market players devise expansion strategies and gain from the opportunity.
- Competitive Landscape: Useful insights on each of the leading market players for outlining competitive scenario and related strategies have been offered in the report.
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