Friction Materials Market Revenue, Region, Country, and Segment Analysis & Sizing For 2021–2027


The development of automobile industries as well as the construction sector are propelling the market growth.

.

The global friction materials market is forecast to reach USD 70.2 Million by 2027, according to a new report by Reports and Data. The global market for frictional materials is growing with the increasing sales in passenger and commercial vehicles. These vehicles include brakes and clutches that require frictional materials. These safe braking solutions provide reliable, effective, and safe braking for vehicles. Frictional materials are used for clutch systems as well as in transmissions. Asbestos was widely used as a frictional material until its usage was banned.

Materials with a high coefficient of friction have high thermal conductivity and heat capacity. They must also be corrosion resistant, and suitable for industrial production as well as concurring to the aspects of cheap manufacturing. With the utility of frictional materials in aerospace as well as in the mining industry, the development of this market is pronounced.

The above-mentioned factors collectively create opportunities for the market growth, while factors such as unfavorable effects of friction materials pose limitations in the market. Lack of friction materials across the end-user industries in certain regions lead to restraints in the market. These restraints can be overcome by spread of knowledge regarding frictional materials, such that the industry verticals may adopt these cost-effective methodologies.

The demography of the Asia Pacific region has been shifting towards the young population, and the purchasing potential of this young population is also increasing. Most of the developing countries are looking at India and China as the global market because of the growing demand for automobiles. APAC observes the highest market share of 35.1% in the year 2019. Along with automobiles, the industries producing heavy machinery are in demand because of the rapid urbanization in this region. These apparatus require frictional materials for stopping as well as braking functionality.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/1860

Key participants Akebono Brake Industry, European Brake Company, ABS Friction, Yantai Hi-Pad Brake Technology, Brembo, GAMA, Japan Brake Industrial, Miba, Aisin Seiki, and Bendix Commercial Vehicles Systems, among others.

Further key findings from the report suggest

  • In the industry of frictional materials, the brakes segment is set to observe the highest CAGR of 5.3% in the forecast period. High demand for brakes from end-use industries like automotive and railway are driving the growth of the friction materials market in the brakes application segment.
  • Brake pads are expected to witness the highest CAGR of 5.4% in the forecast period. These pads are used in brake systems where there is a presence of high friction, which leads to wearing and tearing of the system. Hence, these products are treated to release less dust and are less prone to weathering from high temperatures.
  • In automobiles, disc brakes are frequently employed. These brakes make the system safer for the rider. Hence, the adoption of these brakes boost the market, and they share the second-highest share of 28.8% in the year 2019.
  • The scenario for aftermarket products in the frictional materials market is expected to witness the highest CAGR of 5.3% through the forecast period. Aftersales friction materials comprise of consumable friction product, which is under high demand in the end-user industry.
  • Asia Pacific is forecasted to grow with the highest CAGR of 5.4% during the forecast period. Countries like India, China, and Japan are rapidly catching up with the growth in the automobile market. Frictional material consumption has shifted from North America to Asia owing to the rising sales in personal as well as commercial vehicles.

Browse Complete Report “Friction Materials Market” @ https://www.reportsanddata.com/report-detail/friction-materials-market

For the purpose of this report, Reports and Data have segmented into the global Friction Materials market on the basis of product type, business type, application type, end-user, and region:

Product Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Pads
  • Linings
  • Discs
  • Blocks

Business Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Original Equipment
  • Aftersales
  • Others

Application Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Brakes
  • Clutches
  • Others

End-User Outlook (Volume, Kilo Tons; Revenue, USD Million; 2017-2027)

  • Automotive
  • Railway
  • Construction
  • Others

The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.

Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.

Request Customization of the report @ https://www.reportsanddata.com/request-customization-form/1860

Regional Bifurcation of the Friction Materials Market Includes:

  • North America (U.S., Canada, Mexico)
  • Europe (U.K., Italy, Germany, France, Rest of Europe)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Thank you for reading our report. For additional information on customization of the report, connect with us and we will make sure you get a report tailored to meet your needs.

Browse Related Reports:

Automatic Shot Blasting Machine Market Size

Luxury Vinyl Tiles (LVT) Market Demand

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W

Head of Business Development

40 Wall St. 28th floor New York City

NY 10005 United States

Direct Line: +1-212-710-1370

Reports and Data | Web: www.reportsanddata.com

Comments