Firefighting foam consists of aqueous film-forming foams (AFFF) that help to create a blanket between the fuel and air, thereby suppressing fire. Advantages of using AFFF include rapid flame knockdown and vapor suppression. With growing industrialization and increasing risks of oil and gas fires, the demand for effective firefighting solutions is rising. 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:
Stringent government regulations regarding environment protection and safety are expected to drive the firefighting foam market growth over the forecast period. Many countries have banned the use of perfluorooctanoic acid (PFOA) and perfluorooctane sulfonate (PFOS) in firefighting foams due to their harmful environmental impact. This is prompting manufacturers to develop PFOA- and PFOS-free foams. For instance, in September 2020, the U.S. Environment Protection Agency (EPA) issued a significant new use rule (SNUR) under TSCA regulating the manufacturing and use of long-chain PFAS in surface coating products. Moreover, the US military has also updated policy to phase out the use of PFAS-containing foam by 2025. Thus, the growing focus on developing eco-friendly firefighting solutions is expected to boost demand for fluorine-free AFFF over the forecast period.
Segment Analysis
The Global firefighting foam market size is dominated by synthetic foams subsegment due to its effectiveness in fighting liquid fuel and gas fuel fires. Synthetic foams act as an effective barrier between the fire and fuel by forming vapour-blocking foam blanket on the fuel surface. They have high resistance to fuel penetration and do not dissolve in hydrocarbon fuels easily.
Key Takeaways
The global firefighting foam market is expected to witness high growth over the forecast period of 2023 to 2030.
Regional Analysis: North America is currently the dominant region in the firefighting foam market owing to stringent fire safety regulations and the presence of major players. The region accounted for over 30% of the global market share in 2023. Asia Pacific is expected to witness the fastest growth during the forecast period due to rapid industrialization and infrastructure development in emerging economies like China and India.
Key players related content comprises: 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 .
Get More Insights On This Topic: https://www.newsstatix.com/firefighting-foam-market-size-share-analysis-2023-2030/
Explore More Trending Article On This Topic: https://filmik.in/molecular-cytogenetics-the-future-of-genomic-research/
Comments
0 comment