8 February 2019: Fire
Fighting Foam Market is anticipated to grow at a significant
CAGR in the upcoming period as the scope, product types, and its applications
are increasing across the globe. Firefighting foam is mainly used for
suppression of fire. Firefighting foam, as the name suggests, avoids the
interaction of fuel with oxygen, thereby resulting in suppression of the
combustion.
The factors that propel the growth of the Fire Fighting Foam
Market include growing shift toward environmentally safe products and growing
fire-related coincidences leading to loss of property and casualties. On the
other hand, there are factors that may hamper the growth of the market
including absence of a consistent governing body worldwide for the support of
firefighting foam.
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The key applications that could be explored in the Fire
Fighting Foam Market include Ship & Shipyard, Petroleum &
Petrochemical, Airport, Warehouse, and Other. The market could be explored
based on end users as Aviation, Oil & Gas, Mining, Marine, and Others. The
“Oil & Gas” segment led the Fire Fighting Foam Market in 2018 and is
anticipated to maintain its dominance over the forecast period owing to higher
risk of fire accidents in oil-based fires as several activities in the upstream
and downstream segment pose risks.
Asia-Pacific accounted for the major share of the Fire
Fighting Foam Market Size in 2017 and will continue to lead in the forecast
period. The factors that could be attributed to the growth include increasing
demand for energy and increasing establishment of refineries and processing
units.
Some of the key players that fuel the growth of the market
comprise Angus Fire, Tyco, Kerr Fire, Dr. Sthamer, Delta Fire, Amerex, Dafo
Fomtec, ICL, DIC, Kidron, Naffco, Suolong, Fire Service Plus, Liuli, Langchao,
Shield, Jiangya, Hongtai, Yuheng, Shiren, Ongoing, Tianhe, Huate, Nenglin,
Sanjiang. The leading companies are taking up partnerships, mergers and
acquisitions, and joint ventures in order to boost the inorganic growth of the
industry.
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