The growth of the Fire Suppression Agent Market is directly correlated with the growth of fire suppression and fire extinguisher market. These systems are important for the protection of property and life and are a legal requirement under the Regulatory Reform (Fire Safety) Order 2005 in almost every non-domestic buildings where people visit or work, such as hotels, shops, public venues, offices.
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A Fire Suppression Agent is a chemical substance used to suppress fire as well as hazardous fire accidents. Fire suppression agents are available in gaseous, powder and liquid forms. In gaseous form, the clean agent is the most popular fire suppression agent and this agent holds significant share in the global market. Some common fire suppression agents are water, CO2, dry chemical, halon, etc. Different types of suppression agents are used in different types of fires. For instance, in ordinary combustibles (wood, paper, plastic etc.) fire, water is used and in aircraft fire, foam is used. Moreover, the manufacturers of fire suppression agents are focusing on increase their share in the market by introducing new and innovative products as well as venturing into emerging & developing economies across the globe.
Moreover, stringent government regulations mandating mandatory installation of fire extinguishers in various commercial, industrial and public areas will certainly increase the demand for fire extinguishers, which in turn, will accelerate the growth of the Fire Suppression Agent market. Increasing urbanization in various countries will boost housing and infrastructural developments in these regions. This will also increase the demand for fire extinguisher/suppression systems in high-rise buildings and commercial spaces. This factor is expected to fuel the growth of the fire suppression agent market.
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This is the key factor that is expected to fuel the growth of the concerned market. Easy installation process reduces the overall response time and overall labor cost required for setting up of these systems, which is another factor responsible for the growth of the global market.
Fire Suppression Agent Market: Regional Overview
The Fire Suppression Agent market is estimated to register positive growth over the assessment period. North America is expected to hold significant share in the global market due to stringent fire safety regulations in end-use industries. Latin America is estimated to remain a dormant market for suppression agents owing to low fire extinguisher manufacturing, import-oriented businesses and fragmented distributor chain. Increasing industrialization in developing regions, such as India and China, is projected to propel the demand for fire suppression systems, which will directly boost the growth of the concerned market during the forecast period. Developing regions represent significant growth potential for fire suppression agent market in the upcoming years. The European market is expected to hold prominent share in the global market due to high demand of fire suppression systems from end-use industries and strict government rules and regulations.
Fire Suppression Agent Market: Market Participants
Examples of some of the market participants identified across the value chain of the global Fire Suppression Agent market are ORR PROTECTION, Amerex Corporation, FIKE CORPORATION, Janus Fire Systems, DuPont, 3M, Firetrace International LLC, Fire Protection Technologies, Fire Suppression Ltd
The Fire Suppression Agent market research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The Fire Suppression Agent research report provides analysis and information according to market segments such as geographies, application, and industry.
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