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Global Fire Fighting Chemicals Market to Grow at a CAGR of 3.90% During 2022-2027, Aided by the Rapid Urbanisation

According to a new report by EMR titled, ‘Global Fire Fighting Chemicals Market Report and Forecast 2022-2027’, the market is expected to witness a healthy growth in the forecast period, growing at a CAGR of 3.90% between 2022 and 2027. The market is projected to reach a value of USD 3.13 billion by 2027.

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.

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 (2017-2021) and (2022-2027).
  • The report also offers historical (2017-2021) and forecast (2022-2027) 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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Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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