Firefighting
foams are specialized foaming agents used to extinguish liquid fuel fires and
gas fires across various applications. Fluorinated and fluorine-free foams are
primarily used in firefighting applications for their enhanced burning and
spreading capabilities. Firefighting foams find applications in oil and gas, aviation,
marine, petrochemical, and infrastructure sectors for combating fires involving
flammable liquids, such as crude oil, gasoline, jet fuel, and liquefied natural
gas (LNG). The global rise in industrial activities and transportation sector
has augmented the risk of fire-related accidents, thereby driving the need for
efficient fire extinguishing techniques. Firefighting foams are effective in
smothering the fire and separating it from oxygen, thereby quickly dousing the
flames.
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 1.0% over the
forecast period 2023 to 2030, as
highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends witnessed in the firefighting foam market is the
increasing demand for fluorine-free foams. Rising environmental concerns
regarding persistent organic pollutants from fluorinated foams compel industry
players and regulators to shift toward eco-friendly substitutes.
Non-fluorinated foams release renewable, biodegradable, and environmentally
preferred surfactants and film-forming compounds in a fire event. This reduces
risks to the ecosystem from residual chemicals. Research efforts are ongoing to
formulate fluorine-free foams with comparable performance and fire
extinguishing capabilities as conventional fluorinated varieties. Superior
performance attributes of newer fluorine-free technologies will support their
adoption over the forecast period.
Porter’s Analysis
Threat of new entrants: The high capital requirement and stringent government
regulations act as barrier for new players to enter this market.
Bargaining power of buyers: The product differentiation and importance of
firefighting materials for industrial safety provides established players with
bargaining power against buyers.
Bargaining power of suppliers: Established manufacturers source quality raw
materials from specialized suppliers globally, reducing their bargaining power.
Threat of new substitutes: Though alternative fire suppression methods exist,
foams provide effective suppression for variety of fires minimizing threat from
substitutes.
Competitive rivalry: With recognized brands and compliance to quality
standards, competition exists among existing major players.
Key Takeaways
The
Global
Firefighting Foam Market Size is expected to witness high growth.
Regional analysis comprises Regional analysis: The market is dominated by North
America and Europe due to stringent fire safety regulations for industrial and
oil & gas facilities in these regions. Asia Pacific is expected to witness
fastest growth over forecast period led by growing industrial sector and fire
safety infrastructure in China and India.
Key players operating in the Firefighting Foam market are Roche Diagnostics;
Thermo Fisher Scientific, Inc.; Eisai Co. Ltd.; Novartis AG; Element
Biosciences, Inc.; Dovetail Genomics LLC; Illumina, Inc.; ValiRx Plc.; Abcam
plc. The major players are focusing on new product launches and strategic
collaborations to gain competitive advantage in the market.
Get
more insights on this topic:
https://www.marketwebjournal.com/firefighting-foam-market-market-size-and-share-analysis/
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