by Firefighting foam finds extensive application for extinguishing liquid fuel fires such as hydrocarbon fuel fires, flammable liquid pool fires, and flammable liquid spray fires. In addition to industrial and commercial fire safety, firefighting foams play a crucial role in fire safety at oil & gas facilities, offshore rigs, refineries, chemical plants, and airports. They help to rapidly separate the fuel from oxygen and break the combustion chain by forming an air-blocking blanket over the fuel surface. With rapid industrialization and urbanization globally, fire hazards have increased manifold across various sectors. Stringent fire safety regulations are being implemented across developed as well as developing countries to minimize fire-related losses. Moreover, the inherent risks of fire in industrial activities such as oil & gas production and chemical manufacturing demand highly effective fire suppression systems with firefighting foam.
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 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends gaining traction in the firefighting foam market is the rising popularity of environmentally sustainable foam concentrates. Conventional fluorinated and fluorine-free foam concentrates pose serious threats to the environment due to their persistence and ability to travel long distances in the atmosphere. Regulatory bodies across regions are enforcing strict restrictions on the use of per- and polyfluoroalkyl substances (PFAS)-based foams. This is driving manufacturing companies to invest heavily in research and development of eco-friendly foam solutions based on new technologies such as protein foams, synthetic foams, and compressed air foams. Protein foams obtained from animal proteins, grains, and other natural sources are approved for hydrocarbon pool fire application and believed to have better environmental compatibility. Development of non-PFAS synthetic and compressed air foams can further promote sustainability in the firefighting foam landscape.
Porter’s Analysis:
Threat of New Entrants: The threat of new entrants is low due to the presence of established key players and requirement of huge capital investments and technical expertise.
Bargaining Power of Buyers: The bargaining power of buyers is moderate due to presence of a fragmented customer base and requirement of fire safety regulations and standards.
Bargaining Power of Suppliers: The bargaining power of suppliers is low due to presence of multiple raw material suppliers and commoditization of raw materials.
Threat of Substitute Products: The threat of substitute products is moderate due to availability of alternative fire protection methods.
Competitive Rivalry: The competitive rivalry is high among key players to gain higher market share through product innovation, quality, and strategic partnerships.
Key Takeaways
The Global Firefighting Foam Market Size is expected to witness high growth over the forecast period. 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 2031.
North America is currently the largest regional market for firefighting foam. The region accounts for over 35% of the global market share, driven by stringent fire safety regulations in major economies.
Key players operating in the firefighting foam market are Johnson Controls, Solberg Company, Dr. Sthamer, National Foam, Angus Fire, Kerr Fire, EAU&FEU, Dafo Fomtec, FireChem, VimalFire, KV Fire Chemicals, Profoam, DIC Corp, Jiangya, Langchao Fire Technology, Zhengzhou Yuheng Industry, Liuli, Buckeye Fire Equipment.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
