Portland, OR, Sept. 16, 2020 (GLOBE NEWSWIRE) -- As per a report published by Allied Market Research, the global firefighting foam industry was pegged at $856.3 million in 2018, and is expected to reach $1.14 billion by 2026, growing at a CAGR of 3.6% from 2019 to 2026. The report offers a detailed analysis of drivers & opportunities, market size & estimations, top winning strategies, key segments, and competitive scenario.
Rise in demand from end-use industries and government rules and regulations related to fire safety have propelled the growth of the global firefighting foam market. However, ban on fluorinated firefighting foams impedes the market growth. On the contrary, innovations in fire extinguisher products are expected to offer multiple opportunities in the near future.
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The firefighting market is segmented into type, end-use industry, and region. Based on type, the market is classified into aqueous film forming foam (AFFF), alcohol resistant aqueous film forming foam (AR-AFFF), protein foam, synthetic detergent foam (high and mid-expansion foam), and others. The AFFF segment held the largest share in 2018, accounting for around one-third of the global firefighting foam market. The segment would dominate the market throughout the forecast period. In addition, the segment is expected to register the fastest CAGR of 3.9% by 2026.
Based on end user, the market is categorized into oil & gas, aviation, marine, mining, and others. The oil & gas segment dominated the global market in 2018, accounting for nearly one-third of the market. The segment would maintain its dominant position throughout the forecast period. Furthermore, the same segment is anticipated to register the highest CAGR of 3.9% during the forecast period.
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Region-wise, the market is analyzed across Asia-Pacific, North-America, Europe, and LAMEA. The market across Asia-Pacific held the largest share in 2018, accounting for nearly one-third of the market. In addition, the region is expected to manifest the fastest CAGR of 3.9% between 2019 to 2026. On the other hand, North America is expected to register a CAGR of 3.2% during the forecast period. The market also offers an in-depth study of regions including LAMEA and Europe.
Major market players in the report include Dr. Sthamer, National Foam, Angus Fire Ltd., Kerr Fire, Sffeco Global, DafoFomtec Ab, Solberg, Auxquima, Perimeter Solutions, Eau&Feu, DIC Corporation, Johnson Controls International Plc, Ansul, Chemguard, Williams Fire, Sabo Foam.
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