Chicago, July 31, 2023 (GLOBE NEWSWIRE) -- The Fire Protection System Pipes Market size is projected to reach USD 28.5 billion by 2027 at a CAGR of 6.7% from USD 20.6 billion in 2022 during the forecast period, as per the recent study by MarketsandMarkets™. The growth of the firefighting foam market can be attributed to the increasing use of foam in the oil & gas industry for upstream and downstream activities.
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Browse in-depth TOC on "Fire Protection System Pipes Market”
121 - Market Data Tables
46 - Figures
206 - Pages
List of Key Players in Fire Protection System Pipes Market:
- Johnson Controls (Ireland)
- Tata Steel (India), Simona AG(Germany)
- Astral Pipes (India)
- China Lesso (China)
- Octal Steel (China)
- Jindal Industries Pvt. Ltd. (India)
- Aquatherm (Germany)
- Zekelman Industries (US)
- TPMC Steel (China)
Drivers, Restraints, Opportunities and Challenges in Fire Protection System Pipes Market t:
- Driver: Increasing urbanization and infrastructure development
- Restraint:High installation and maintenance costs
- Opportunities: Periodic revision of regulatory compliance to increase fire safety
- Challenges: Lack of configuration and integration in fire protection solutions
Key Findings of the Study:
- Welded pipes, type segment likely to dominate fire protection system pipes market during the forecasted period.
- Steel pipes, material segment likely to dominate the fire protection system pipes market during forecast period.
- Fire sprinkler system, application segment likely to account the largest share of the fire protection system pipes market during forecasted period.
- Industrial, end-use industry segment likely to account the largest share of the fire protection system pipes market during forecasted period.
- North America likely to account largest share of the fire protection system pipes market during forecasted period.
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Various manufacturers have taken up R&D activities for the development and innovation of newer firefighting foams due to stringent regulations. Regulations, such as EPA and European Chemicals Agency (ECHA), are focused on reducing longer chain, like C8 or greater, perfluorinated chemicals and PFOA emissions, since existing data shows that shorter chain compounds have a lower potential for toxicity and bioaccumulation. These measures provide opportunities to the growth of firefighting foam market.
By type, the market for Aqueous Film Forming Foam (AFFF) is projected to be the largest between 2021 and 2026. This foam is preferred due to various properties, such as rapid extinguishment, burn-back resistance, and protection against vapor release, which make them the widely adopted type of firefighting foam in the oil & gas industry.
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By end-use, oil & gas industry is projected to be the largest between 2021 and 2026. In the oil & gas industry, the demand for firefighting foam is high, as this industry has various activities which involve a high risk of fire.
The APAC firefighting foam market is projected to be the largest between 2021 and 2026, owing to the growing end-use industries supported by a rapid economic boom in the region. The APAC region is home to some of the fastest-growing economies, such as China and India, which are growing at a high rate and are experiencing high demand for oil & gas.
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