Market Size of Firefighting Foam Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Firefighting Foam Market Analysis
The firefighting foam market is expected to register a CAGR of more than 4% during the forecast period (2022-2027).
The COVID-19 pandemic affected the market negatively, but it has since observed growth and is expected to reach pre-pandemic levels by the end of 2022.
- Major factors driving the market are the increasing demand due to the rise in the number of fire accidents and strict regulations from governments to maintain industrial safety. The absence of a global standard regulatory body is expected to hinder the growth of the market.
- The oil and gas segment dominated the market, and it is expected to grow during the forecast period owing to less maintenance cost.
- Addressing environmental restrictions by finding new foam types is likely to act as an opportunity in the future.
- The Middle-East and Africa region dominated the market across the world, with the largest consumption from the countries such as Saudi Arabia, the United Arab Emirates, Iran, Iraq, and Kuwait.
