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Fire Fighting Chemicals Market Size Over 2019 - 2025 By Key Players, Growth Potential Analysis And Forecasts Report 2024

Author : Ronak Bora | Published Date : 2019-06-06 

Global Fire Fighting Chemicals Market Report provides complete industry analysis, market outlook, size, growth, opportunities and forecast 2024. This report will assist in analyzing the current and future business trends, sales and revenue forecast. It provides top manufacturers information along with manufacturing cost analysis, industrial chain, sourcing strategy and growth.

Fire Fighting Chemicals Market size is likely to witness steady gains in the forecast period owing to its widening application usage in sprinkler systems, dampers, portable extinguishers, retarded bulkhead, and inert gas systems. Rising safety concerns along with favourable guidelines should drive industry growth. Protection and reducing risk of life & property, and rising investments across various residential & commercial buildings to protect infrastructure will drive the fire fighting chemicals industry demand.

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North America led by Canada and the U.S. fire fighting chemicals market size may register significant gains over the forecast period. Stringent regulations along with rising government expenditure for fire protection will drive industry demand in this region. NFPA has set various codes and standards to ensure safety including NFPA 17, 7A, 45, 298, 497 and 498 which is related to chemicals used in various systems.

Asia Pacific fire fighting chemicals market demand, driven by China, India and Japan is likely to witness steady gains over the forecast period. Rapid industrialization coupled with upsurge in construction facilities will drive the regional growth. Pakistan is the major importer of flames and safety products in Asia with import value crossing USD 1 billion and the demand is expected to increase over the few years thereby promoting regional growth.

Middle East, led by and UAE and Saudi Arabia fire fighting chemicals market size may witness steady gains over the forecast period. Chemical industry is expected to reach USD 7 trillion by 2024 owing to easy access to raw materials, human resources and utilities, thus stimulating regional industry growth.

Global fire protection systems market size is expected to surpass USD 90 billion by 2024 owing to stringent government norms with increasing accidents along with advancement in technology. Manufacturers are focusing on investing in R&D which has led to efficient and innovative flame protection products to safeguard infrastructure and reduce human losses, thus boosting fire fighting chemicals market demand.

Rapid increase in deaths, and high loss of various commercial and residential buildings has initiated the installation of fire protection systems such as extinguishers, sprinklers and dampers, which may enhance fire fighting chemicals market size. According to U.S. Fire Administration (USFA), over 1,345,500 incidents occurred in 2016 leading to 3,280 deaths and caused a loss of over USD 14 billion. In order to overcome these problems, government is taking strict actions such as setting safety codes to ensure proper safety and prevention along with minimising the risk and losses caused by explosion. These are the driving factors which will further accelerate fire fighting chemicals industry demand.

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Global construction market size was valued at USD 8 trillion in 2016 and is expected to surpass USD 10 trillion by 2024 owing to rapid urbanization, rising infrastructure facilities in Vietnam, Philippines, Indonesia, China and India. The government is providing an aid to these economies for becoming more sustainable and is likely to increase their infrastructure budgets in the coming years. Thailand’s infrastructural spending is likely to be over USD 58.5 billion up to 2020 due to upsurge in commercial construction, thereby driving fire fighting chemicals market demand.

Global fire fighting chemicals market share is moderately fragmented including various industry participants such as Chemguard, EuroChem Group, ICL, ABC MacIntosh, and Solvay S.A. Increasing R&D spending by chemical manufacturers will propel fire fighting chemicals industry demand and expand global reach.  

 

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

 

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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