PUNE, India, May 1, 2017 /PRNewswire/ --
The report "Low Friction Coatings Market by Type (Polytetrafluoroethylene (PTFE), Molybdenum Disulfide (MoS2), End Use Industry (Aerospace, Automobile & Transportation, General Engineering, Energy, Food & Healthcare), and Region - Global Forecast to 2021", published by MarketsandMarkets™, the market is projected to reach USD 810.4 Million by 2021, at a CAGR of 5.7% from 2016 to 2021.
Browse 101 market data Tables and 38 Figures spread through 154 Pages and in-depth TOC on "Low Friction Coatings Market"
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Low friction coatings are being preferred over conventional lubricants, due to the ease of application and ability to perform under high pressure and temperature environment. Key end-use industries for these coatings include automotive & transportation, aerospace, general engineering, and food & healthcare.
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The molybdenum disulfide (MoS2) coating type was the largest segment of the low friction coatings market
Molybdenum disulfide (MoS2) was the largest segment of the market in 2015 and is projected to witness the highest growth during the forecast period. Molybdenum disulfide is used as a dry lubricant coating and is applied in the form of a thin film on substrates. This thin film gives strong wear-resistant and low friction properties to the surface to which it is applied. MoS2 can withstand a temperature of more than 400oC and a high load. Therefore, MoS2 is preferred over PTFE in many end-use industries.
The automobile & transportation was the largest end-use industry of the low friction coatings market
Automobile & transportation was the largest segment of the low friction coatings market in 2015, followed by aerospace, general engineering, and food & healthcare. The increasing use of low friction coatings to reduce noise, vibrations, and emissions in automobiles has fueled the demand for these coatings across the globe. The low friction coatings market for the automotive industry is expected to witness high growth, due to their increasing use to improve fuel efficiency.
The growing demand for low friction coatings from China and India is expected to be a key factor for the growth of the market in Asia-Pacific
The Low Friction Coatings Market is expected to witness growth in near future, due to rapid growth in end-use industries, including automobile & transportation, food & healthcare, and general engineering. Asia-Pacific is one of the fastest-growing markets for several manufacturing industries, which has fueled the demand for low friction coatings in the region. Emerging economies such as China and India are attracting large investments from various manufacturers across the globe.
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Key manufacturers in the market include Dow Corning Corporation (U.S.), The Chemours Company (U.S.), Whitford Corporation (U.S.), BECHEM (Germany), Endura Coatings (U.S.), and Poeton Industries (U.K.).
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