Global Firefighting Chemicals Market: Overview
The global firefighting chemicals market is benefitting from rising safety concerns and adoption of necessary measures to combat accidental fires. Governmental agencies in several parts of the world have laid safety regulations that necessitate residential and commercial buildings to be equipped with basic firefighting apparatus to protect life and property in the event of an eventuality.
The report segregates the global firefighting chemicals market as per extinguisher type, chemical type, and region.
The report is a meticulous compilation of key aspects that are important to chart the growth trajectory of the global firefighting chemicals market. Each aspect is analyzed at length to provide a satisfactory analysis of the market’s future.
Global Firefighting Chemicals Market: Trends and Opportunities
Factors such as rising industrialization and movement of people from rural to urban areas for work opportunities have led to the construction of high skyscrapers for commercial and residential needs. These high-rise buildings, however, are prone to accidents, and a minor electrical breakdown or short circuit could result in a massive fire. This is necessitating the installation of fire safety equipment such as fire extinguishers, hoses, and reels in high-rise buildings to prevent loss of life and property in the event of accidental fires.
Increasing adoption of fire safety measures that have been mandated by governments and regulatory agencies in several parts of the world are likely to propel the firefighting chemicals market. For instance, dry chemicals based fire extinguishers are used against fires as they help to remove two vertices of the fire triangle. Dry chemicals are used to remove heat or fuel from other components of the fire. Dry chemicals are used for class A fire (ordinary combustibles such as cloth, wood, or plastics), class B fire, class C fire, and class D fire (metal fires).
Rapid urbanization leading to a soaring number of restaurants and eating joints is also benefitting the firefighting chemicals market. Wet chemicals are used to extinguish class K fires (greases and cooking oils) to remove the heat of fire triangles in commercial cooking operations Foams are also used for fire extinguishing to interrupt oxygen supply. Foams are of various types such as class A foams, synthetic foams, class B foams, and protein foams.
In industrial operations, mandates for fire safety to protect loss of life and property is also favoring the firefighting chemicals market. Carbon dioxide is used to extinguish fires in inflammable liquids and electrical equipment such as motors and transformers. Potassium bicarbonate is anticipated to emerge as a key chemical type segment in the firefighting chemicals market.
Global Firefighting Chemicals Market: Geographical Analysis
The global firefighting chemicals market is examined across North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of them, Asia Pacific is anticipated to account for significant revenue contribution to the overall market during the forecast period. North America and Europe firefighting chemicals market are likely to surge at an impressive pace owing to the continual construction of new high-rise buildings that need to be equipped with fire safety apparatus.
On the other hand, Latin America and the Middle East and Africa firefighting chemicals market are likely to display sluggish growth due to lack of fire safety regulations for commercial and residential buildings and lack of knowledge regarding the importance of fire safety equipment in high-rise buildings to combat accidental fires.
Global Firefighting Chemicals Market: Companies Mentioned
The worldwide firefighting chemicals market comprises leading players such as Chemguard, Solvay S.A., Firechem, and The Linde Group.
The global firefighting chemicals market is segmented as follows;
Global Firefighting Chemicals Market, by Extinguisher type
- Water and Foam
- Dry Chemical
- Clean Agent
- Carbon dioxide
- Wet Chemical
Global Firefighting Chemicals Market, by Chemical type
- Potassium Bicarbonate
- Carbon dioxide
- Sodium Chloride
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.