The global friction products and materials market was valued at $17,046 million in 2017, and is projected to reach $24,533 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025
NEW YORK, July 23, 2019 /PRNewswire/ --
Friction Products and Materials Market by Product (Pads, Lining, discs, blocks, and Others), Business Type (Original Equipment and Aftersales), End User (Brakes, Clutches, and Industrial Brake & Transmission Systems), and Application (Automotive, Railway, Construction, Aerospace & Marine, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025
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The global friction products and materials market was valued at $17,046 million in 2017, and is projected to reach $24,533 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025. Friction stops various objects from sliding owing to the resistive force between two contacts. It mainly occurs between various forms of materials that include gases, solid objects, and liquids. Friction between liquids is termed as fluid friction. Friction materials are majorly used to improve the efficiency of vehicles, performance, and appearance. These materials are applicable in aircraft, light trucks, railways, commercial vehicles passenger cars, and others. They are mainly used in brake and clutch systems and transmissions. They are selected on the basis of speed to be encountered, application, temperature involved, and performance requirements. For instance, sintered materials are predominantly used in heavy-duty areas such as aircraft braking systems and industrial machinery clutches. Paper finds application as a friction material in automobiles and light trucks.
Friction products and materials manufacturers are expecting higher sales, owing to increase in demand for pads and lining product lines, which drives the growth of the global friction products and materials market. Moreover, manufacturers are focusing on various marketing strategies, such as product offering, to meet the growth in requirement for pads and lining units. In addition, increase in demand and adoption of friction products in the automobile industry is expected to drive the growth of the global market. Furthermore, upsurge in demand for commercial and passenger cars is expected to boost the growth of the market. Rapid urbanization and industrialization are anticipated to fuel the demand for commercial and passenger cars, which in turn will supplement the market growth. In addition, rise in demand for lightweight friction products in automotive end-use industry provides lucrative opportunities for the global friction products and materials market. However, stringent regulations associated with the use of various friction materials such as copper and asbestos are anticipated to restrain the growth of this market during the forecast period.
The global friction products and materials market is segmented into product, business type, application, end-use industry. Based on product, the market is divided into pads, lining, discs, blocks, and others. By business type, it is classified into original equipment (OE) and aftersales. The applications covered on the study include brakes, clutches, and industrial brakes & transmission systems. Depending on end-use industry, the market is segregated into automotive, construction, railway, aerospace & mining, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific is expected to hold the highest market share during the forecast period.
The key players profiled in this report include Nisshinbo Holdings Inc., Akebono Brake Industry, Federal-Mogul Holdings, MIBA AG, Carlisle Brake & Friction (CBF), ABS FRICTION CORP., European Friction Industries Ltd, Fras-le, Hindustan Composites Ltd., and GMP Friction Products.
KEY BENEFITS FOR STAKEHOLDERS
? The report provides an extensive analysis of the current and emerging market trends and dynamics in the global friction products and materials market.
? In-depth analysis is conducted by constructing market estimations for the key market segments between 2018 and 2025.
? Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
? A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
? Key market players within the friction products and materials market are profiled in this report and their strategies are analyzed thoroughly, which help to understand the competitive outlook.
KEY MARKET SEGMENTS
BY PRODUCT
• Pads
• Lining
• Discs
• Blocks
• Others
BY BUSINESS TYPE
• Original Equipment (OE)
• Aftersales
BY APPLICATION
• Brakes
• Clutches
• Industrial Brake & Transmission Systems
BY END-USER INDUSTRY
• Automotive
• Railway
• Construction
• Aerospace & Marine
• Others
BY REGION
• North America
o U.S.
o Canada
o Mexico
• Europe
o Germany
o UK
o France
o Spain
o Italy
o Rest of Europe
• Asia-Pacific
o China
o Japan
o India
o South Korea
o Thailand
o Rest of Asia-Pacific
• LAMEA
o Latin America
o Middle East
o Africa
KEY PLAYERS
• Nisshinbo Holdings Inc.
• Akebono Brake Industry
• Federal-Mogul Holdings
• MIBA AG
• Carlisle Brake & Friction (CBF)
• ABS FRICTION CORP.
• European Friction Industries Ltd
• Fras-le
• Hindustan Composites Ltd.
• GMP Friction Products
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