Global Fire Fighting Chemicals Market to Grow at a CAGR of 3.90% During 2024-2032, Aided by the Rapid Urbanisation

The global fire fighting chemicals industry is being driven by the rising incidences of fire. This is especially the case in urban settings, where rapid urbanisation and growing population are leading to the informal construction of buildings that do not meet standard regulations and codes. Additionally, the increasing adoption of fire preventive measures such as fire extinguishers across industry verticals such as the oil and mining industry is projected to aid the market growth in the forecast period. Moreover, the rising investments by the government in the implementation of fire safety measures are also anticipated to aid the market growth.

The rising demand for fire fighting mechanisms, especially in public transports, to mitigate the risk of any unfortunate event is driving the market. The leading market players are investing in the manufacturing and development of efficient chemicals and solutions. This is estimated to significantly catalyse the industry growth in the forecast period. For instance, in May 2021, Johnson Controls International PLC (NYSE: JCI) announced the launch of its ANSUL® LVS non-fluorinated liquid suppression agent. This product is effective against class A and class B fires in mobile equipment in the mining, forestry, and transportation industries. These developments are expected to positively impact the growth of the fire fighting chemicals industry in the forecast period.

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Market Breakup by Type, Chemical, Application, and Region:

• The market is divided, based on type, into dry chemicals, wet chemicals, dry powder, and foam-based.
• On the basis of chemical, the market can be distributed into monoammonium phosphate, halon, carbon dioxide, potassium bicarbonate, potassium citrate, sodium chloride, and others.
• Based on application, the industry is segregated into portable fire extinguishers, automatic sprinkler systems, fire retardant bulkhead, fire dampers, and others.
• Region-wise, the global market for fire fighting chemicals can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The global market for fire fighting chemicals is being driven by the rising incidences of fire worldwide.
• The increased demand for fire safety solutions in the residential, commercial, and industrial sector has significantly contributed to the market expansion.
• Increased urbanisation and industrialisation are also aiding the industry growth.
• The rising investments by the government in the regulation of fire safety mechanisms are further propelling the market growth.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for fire fighting chemicals for the periods (2018-2023) and (2024-2032).
• The report also offers historical (2018-2023) and forecast (2024-2032) market information for the types, chemicals, applications, and major regions of fire fighting chemicals.
• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global fire fighting chemicals market are Solvay S.A., Air Products Inc., SafeQuip (Pty) Ltd., Chemguard, Linde plc, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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