Firefighting Foam Market Estimated to Reach $913 Million by 2026 Globally, at a CAGR of 3.8%, says MarketsandMarkets™

Chicago, July 31, 2023 (GLOBE NEWSWIRE) -- The Firefighting Foam Market size is estimated to grow from USD 756 million in 2021 to USD 913 million by 2026, at a CAGR of 3.8% during the forecast period, as per the recent study by MarketsandMarkets™. Firefighting foams are widely used in different end-use industries such as aerospace & defense, oil & gas, pharmaceutical, marine, industrial, mining, and others. The key drivers expected to have a substantial impact on the growth of the market globally, include increasing shift towards environmentally safe products and increasing fire-related accidents leading to casualties and loss of property.

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173 - Market Data Tables

38 - Figures

192 - Pages

List of Key Players in Firefighting Foam Market:

1. Johnson Controls (US)
2. Perimeter Solutions (US)
3. Dr. Sthamer (Germany)
4. National Foam (US)
5. Angus Fire (UK)
6. Kerr Fire (UK)
7. Eau&Feu (France)
8. SFFECO Global (UAE)
9. Others

Drivers, Opportunities and Challenges in Firefighting Foam Market:

1. Drivers: Increased fire-related accidents leading to casualties and loss of property
2. Opportunity: Upcoming technologies to mitigate current issues related to firefighting foam
3. Challenge: Existing lawsuits and litigations against major manufacturers

Key Findings of the Study:

1. By type, synthetic detergent foam is expected to grow at a highest CAGR during the forecast period
2. By end-use, marine segment is expected to grow at a highest CAGR during the forecast period
3. By region, Middle East & Africa is expected to grow at a highest CAGR during the forecast 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.

Saudi Arabia, Iran, the UAE, Iraq, Nigeria, and Rest of the Middle East & Africa are considered as the major markets for firefighting foam in the Middle East & Africa. The region has high potential for oil production, as it has proven reserves of untapped oilfields. This will lead to an increase in consumption of firefighting foams in the oil & gas industry from in the upstream and downstream units 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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