March 1, 2024
Firefighting Foam Market

Firefighting Foam Market Driven By Growing Need Of Safety From Fire Accidents

Firefighting foams are aqueous film-forming foams that act as surfactants, allowing the foam to spread across liquid surfaces such as gasoline or other flammable liquids and prevent the ignition and combustion of gases above the surface. They are primarily used at industrial and commercial facilities where the risk of flammable liquid fires is relatively high, such as refineries, chemical plants, fuel storage facilities and airports. The advantages of firefighting foams over traditional water-based fire suppression methods include more effective smoke suppression, faster flame knockdown and cooling of fuels and combustible surfaces. As industrialization and urbanization continues to rise globally, the need for fire safety and prevention measures has increased significantly. 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 6.1% 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 in the firefighting foam market is the shift towards environmentally sustainable and eco-friendly foam solutions. Traditional fluorocarbon-based foams have high global warming potential and are being phased out due to environmental regulations. Manufacturers are focusing on developing fluorine-free foams that have lower environmental impact without compromising on firefighting performance. Another prominent trend is the growing demand for foam concentrates that are effective against both hydrocarbons as well as polar solvent fires. With increasing industrialization and use of alternative fuels, facilities require fire protection equipment that can suppress multiple types of liquid fires.

Porter’s Analysis

Threat of new entrants: Low as significant investment required for manufacturing and R&D along with regulations make entry difficult.

Bargaining power of buyers: Moderate as firefighting foam is a specialized product with limited suppliers and differentiated products.

Bargaining power of suppliers: Moderate as raw material suppliers have limited control over prices due to availability of substitutes.

Threat of new substitutes: Low as firefighting foam has well established performance and no major substitute offers similar fire protection effectively.

Competitive rivalry: High due to presence of large players with global presence focusing on product innovation and expansion.

Key Takeaways

The Global firefighting foam market size is expected to witness high growth.

Regional analysis: The North America region holds over 30% share of the global market followed by Europe. Both regions have stringent safety standards for infrastructure and industries driving foam sales. Asia Pacific is expected to grow at the fastest pace during the forecast period led by China, India, and other developing countries with increasing investments in industries and real estate.

Key players: Key players operating in the firefighting foam market are MagForce AG, Andromedic, Xianke Medical Equipment, OncoTherm, Celsius42+, Oncotherm, Pyrexar Medical, Yamamoto Vinita, Nanoprobes, Alba Hyperthermia System, Nova Company, Perseon, Omron, Sunny Medical Equipment, OrienTech, BSD Medical, Sensius, Celsius42, Nanjing Greathope, Shanghai Huayuan. These players are focusing on improving product performance and expanding globally through partnerships.

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