Firestop Foam Market Segmented By Type such as Aqueous Film Forming Foam (AFFF), Alcohol Resistant Aqueous Film Forming Foam (AR-AFFF), Protein Foam, Synthetic Detergent Foam (High and Mid Expansion Foam), Others
Industry: Chemicals and Materials
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Report Type: Ongoing
Report ID: PMRREP32545
According to latest research, firestop foam market is anticipated to grow with a CAGR of 3% to 5% for the period of 2021-2031.
Demand for this product will be driven by increasingly stringent fire safety standards across all major regional markets. Due to significant increase in fire related accidents across residential and commercial structures, there is surging demand for efficient safety measures, thus creating growth opportunities for this market.
Demand for firestop foam has been increasing due to the rise in fire accidents. There has been a rise in the number of fire accidents, thus the demand and requirement of this product will continue to expand at a steady pace.
Furthermore, stringent rules and regulations by regulatory authorities that mandate fire safety measures also boost the demand for firefighting foam, which is a key driving factor for the market growth.
Fluoro-chemicals that are carbon eight in the fluorocarbon chain length are toxic and bio-accumulative. Fluoro chemicals with a chain length of less than carbon six are more persistent and less harmful.
Hence, the shift to carbon six from carbon eight by various manufacturers has resulted in a new range of firefighting foams which are considered environmentally safe and subsequently help in the growth of the firefighting foam market.
In recent times, many fire related accidents have led to a significant number of casualties and avoidable economic losses. Hence, there is a need for improving fire security systems in various facilities to avoid such losses.
Various enterprises across the global have increased their expenditure on fire protection equipment & materials for safeguarding infrastructure and reducing human losses.
For instance, the companies from oil, gas and mining sector are increasing their spending on firefighting foams to prevent and contain critical fire accidents happening in onshore and offshore oil, gas and mining facilities.
Asia Pacific is the leading consumer of firefighting foam across the world. The region is also projected to register the maximum growth rate during the forecast period, owing to the presence of several downstream oil & gas projects (such as extraction, processing, and refining) in the region.
Growth of construction, aviation, marine, and mining industries in countries such as India, China, Singapore, and Malaysia has boosted the demand for firefighting foam products in these countries. This, in turn, is likely to drive the firefighting foam market in Asia Pacific during the forecast period.
The market in North America is expected to expand at a steady pace during the forecast period. This shall be owing to the strict rules and regulations and existing environment concerned policies in this region. The increasing demand for non-toxic fire stopping chemicals has further stimulated the growth in this industry.
Also new technology developments, leading to availability of environmentally friendly products in the market would further benefit market growth.
Countries in Europe are expected to witness a significant as they are implementing strict industrial safety norms and new building codes. These factors will lead to the region investing in firestop foam and contribute to the industry of this commodity.
Some of the key players operating in the global firestop foam market are
These companies are contributing to the robust growth in firestop foam demands. These key players have adopted various organic and inorganic strategies to maintain their shares in the firefighting foam market.
By Type
By End-use Industry
By Region
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company.
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