Fire Fighting Chemicals Market Is Predicted To Grow Due To Increasing Number Of Favorable Fire Safety Regulations Till 2025: Grand View Research, Inc.

The global fire fighting chemicals market is expected to reach USD 2.94 billion by 2025, according to a new report by Grand View Research, Inc. Increasing safety concerns has been a major factor driving market growth. Employment of fire fighting chemicals services has increased owing to increasing number of favorable fire safety regulations.

Fire fighting chemicals are primarily utilized in fire fighting equipment such as automatic sprinkler systems, fixed and portable fire extinguishers, fire dampers, inert gas systems, and fire retardant bulkhead. These fire suppression chemicals are then sprayed by means of fire extinguisher over the combustion zone, in order to alleviate its temperature and thus eventually extinguish the fire.

Potassium bicarbonate is projected to be the fastest growing segment in the chemicals category over the forecast period with an estimated CAGR of 5.1% from 2017 to 2025. Potassium bicarbonate is the only dry chemical certified by National Fire Protection Agency (NFPA) U.S. for use in Aircraft Rescue and Fire Fighting (ARFF). Potassium bicarbonate is also the most preferable dry chemical for use in oil spill incidences on onshore & offshore drilling sites. It is a salty, colorless and odorless chemical. These factors are projected to boost the potassium bicarbonate segment growth over the forecast period.

Server rooms are utilized to serve as a data center. These server rooms are kept air conditioned in order to drive out the heat generated by the constant rapid activity of data transferring. However, if in case the air conditioners malfunction it might lead to heating up of the room and also cause a fire hazard. Owing to this factor, fire dampers are utilized to stop the oxygen supply to the room in case of fire occurrence. On account of this factor, fire dampers application segment is expected to show a moderate to high growth rate over the forecast period. In terms of volume, the fire dampers segment had a market share of 20.3% in 2016.

U.S. fire fighting chemicals market volume by application, 2014 - 2025 (Kilotons)

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Further key findings from the report suggest:

• The global fire fighting chemicals demand in terms of revenue was USD 2.10 billion in 2016 and is expected to grow at a CAGR of 3.9% from 2017 to 2025
• Dry chemicals emerged as the largest type segment in 2016 and is estimated to generate revenue over USD 1.09 billion by 2025
• Fire retardant bulkhead is anticipated to be the fastest growing application segment over the next eight years and in terms of revenue is estimated to grow at a CAGR of 4.3%
• The Asia Pacific region in terms of revenue is anticipated to witness high growth at a CAGR of 6.2% by 2025. Increasing governmental initiative for fire safety and favorable regulations are expected to propel the regional market growth
• Key players of the industry include Solvay S.A., EuroChem Group AG, Linde AG, Air Products & Chemicals, Inc., and Praxair, Inc. These major players have forward integrated their operations in order to gain competitive advantage in the market

About Grand View Research, Inc:

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

For more information: http://www.grandviewresearch.com