July 24, 2024
Firefighting Foam Market

Firefighting Foam Market Estimated to Reach US$7.31 billion by 2023 Propelled by Growing Construction Industry

Firefighting foam, also known as aqueous film forming foam (AFFF), is a type of fire suppression agent that is used to extinguish hydrocarbon fuel-based fires such as petroleum or other flammable liquid fires. It forms an aqueous film that spreads across the fuel, blocking oxygen and stopping the fire’s spread. With rapid urbanization and growth of the construction industry globally, the demand for firefighting equipment has increased significantly to ensure safety from fire hazards at construction sites, airports, oil & gas industries and others.

The global Firefighting Foam Market is estimated to be valued at US$ 7.31 Billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
The growing construction industry has been a major driver for the firefighting foam market. According to the data by Global Construction 2030, the global construction output is expected to grow by 85% to $15.5 trillion worldwide by 2030. Rapid urbanization and infrastructure development in emerging economies such as India, China, Indonesia etc. are expected to account for 57% of this global growth. With increasing construction activities, the need for ensuring safety from fire hazards has also increased significantly. This has propelled the demand for firefighting equipment including firefighting foam globally during the forecast period.

SWOT Analysis
Strength: Firefighting foam products are specialized chemical compounds that are effective for extinguishing liquid fuel fires. They rapidly drain heat from the fire and form a blanket to smother flames and stop the spread of fire.
Weakness: Storage and transportation of firefighting foams can pose environmental and health hazards if not handled properly. Certain fluorinated foam types have been linked to health issues.
Opportunity: Countries are enacting stricter fire safety standards for industrial facilities, oil & gas installations, and commercial buildings to minimize fire risks. This is increasing the demand for high-quality firefighting foam and solutions.
Threats: Growth in alternative fire extinguishing technologies poses a threat to traditional foam-based systems. Rigorous environmental regulations around the use of per- and polyfluoroalkyl substances (PFAS) in foams are a challenge.

Key Takeaways

Global Firefighting Foam Market Size  is expected to witness high growth over the forecast period of 2023 to 2030. The global Firefighting Foam Market is estimated to be valued at US$ 7.31 Billion in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030.

Regional analysis:

North America currently dominates the global market share due to stringent fire safety regulations and a large number of oil & gas production sites. Countries like the U.S. and Canada are major consumers. Europe stands as the second largest market, driven by high adoption in the aerospace and automotive industries. The Asia Pacific region is anticipated to grow at the fastest pace owing to rapid industrialization and rising number of special hazard facilities in China, India, and Southeast Asian nations.

Key players:

Key players operating in the firefighting foam market are Johnson Controls International Plc, Dafo Fomtec AB, Angus Fire Ltd., Dr. Sthamer, National Foam, Kerr Fire, EAU&FEU, Dansk Brand- og Sikringsteknik A/S (DBI), Fire Service Plus, SFFECO Global, Ansul, Action 8 Group, etc. These companies offer a wide range of firefighting foam concentrates, foam proportioning systems, monitor units, and entire fire suppression solutions tailored for oil & gas, aviation, marine, and various industrial applications.

1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it