Friction Materials Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 - 2028
Global Friction Materials Market: Snapshot
The demand within the global friction materials market has been rising on account of advancements in the field of material bonding. The use of frictional materials across a wide range of industries has played to the advantage of the global market. The relevance of clutch and brake friction in the automotive sector has also played a vital role in the growth of the global friction materials market. The use of well-moulded, woven, and sintered materials for the manufacture of friction materials is a key consideration from the perspective of market growth. Friction materials can come in the form of metal particles, fibres, and other similar materials. It is expected that the total volume of revenues in the global friction materials market would increase at a stellar pace in the coming years.
The automotive sector has been undergoing key advancements in recent times, and this has played a key role in the growth of the global friction materials market. The efficiency of brake pads and component disc pads can be enhanced with the help of friction materials. Hence, the global friction materials market is projected to expand in size and volume in the years to follow.
On the basis of geography, the global friction materials market can be segmented into North America, Latin America, the Middle East and Africa, Europe, and Asia Pacific. The friction materials market in North America is expanding alongside advancements in the field of research and development. The market for friction materials in Europe is growing with advancements in automotive manufacturing.
Global Friction Materials Market: Overview
Friction materials mostly find usage in brake and clutch systems, certain household items, and transmissions. The demand in the global friction materials market is mainly being generated from the following end use sectors that include aircraft and aerospace, railroad, automotive, defense, and heavy machine manufacturing.
The solid demand for effective friction products has been fuelling the global friction materials market. Going forward the market is expected to tread on a steady growth path to rake in considerable overall revenue.
Substances popularly used as friction materials are elastomerics, paper, sintered metals, and graphitics. Other materials such as advanced fibers, ceramics, and various metal alloys are also used for the purpose. In fact, up until a while back, asbestos was widely used as a friction material till its usage was banned. Friction materials are selected on the basis of application, speeds to be encountered, performance requirements, and temperatures involved. For instance, sintered materials find application in heavy duty areas such as industrial machinery clutches and aitcraft braking systems. And paper finds usage as a friction material in light trucks and automobiles. However, it not the conventional paper that we use. It is comprised of cellulose fiber or cotton and phenolic resin mixture that is bonded to steel backing plate.
Obviously, the more a friction material is used, the less effective or smaller it will become. Since its primary purpose is based on its capacity for wear and its performance under such conditions, a friction material will have a relatively predictable lifespan. Suppliers and manufacturers of these materials should be able to estimate their period of usefulness based on a given set of conditions, and consumers will fare best when they replace their friction materials accordingly.
Global Friction Materials Market: Drivers and Restraints
The most important catalyst in the global friction materials market is the surging demand and sales of passenger and commercial vehicles. This has led to increased production thereby stoking demand for friction materials to be used in auto components. Those are mainly used in clutches and brakes. The clutch and brake friction providers are mostly made of molded, woven, or sintered materials made a range of substances such as metal particles, fibers, and bonding materials.
The flourishing aerospace industry is also playing a key role in driving demand in the global friction materials market too. However, underdeveloped end use industries and markets is certain developing regions has been posing a challenge to the market.
Global Friction Materials Market: Trends and Opportunities
The different types of products available in the global friction materials market are pads, lining, discs, blocks, and others such as sheets, rolls, and others. Among them, the segment of pad is predicted to account for a leading share in the market. Those are used in brakes and can be withstand a significant amount of friction that can cause wear and tear. Besides, friction pads also have the ability to withstand high temperature.
Depending upon application, the key segments of the global friction materials market are clutches, brakes, and industrial brake and transmission systems.
Global Friction Materials Market: Regional Analysis
Geographically, the Asia Pacific friction materials market is drawing most of the revenue at the moment. It is primarily being driven by high growth economies of India and China. This is because of the massive development of railway, automotive, and construction industries owing to the increasing spending capacity of people.
All these factors are expected to drive the growth of the Asia Pacific friction materials market during the forecast period.
Global Friction Materials Market: Competitive Landscape
Some of the prominent participants in the global friction materials market are Akebono Brake Industry, Federal-Mogul Holdings, Miba, Fras-Le, Nisshinbo Holdings, Aisin Seiki, and Valeo Friction Materials India.
This study provides a particularized anatomy according to the L.E.A.P mechanism
The regional analysis offers market assays across:
The study, prepared through the L.E.A.P mechanism adds a dimension of infallibility and assures precise information on all the growth dynamics.
Latest Trends and Cardinal Growth Prospects
The study assists in burnishing the knowledge of the stakeholder in terms of the emerging trends. The study provides an expansive coverage on the latest developments and novel profit-yielding sources that augur well with the market. A dedicated and determined team of experts conduct an out-and-out research on diverse aspects to offer ultimate breakthroughs in the market.
Existing and Future Insights in Growth
The interfusion of ubiquitous primary and secondary research through modern tools invites perfection and accuracy in every aspect. Primary research is circumspectly conducted through exhaustive interactions and interviews of experts. These valuable opinions are then neatly inducted in the report to allow the stakeholder for reaping the benefits. A treasure of secondary data is extracted via famed paid sources, yearly estimates and statements, renowned journals, and government documents. These sources assist in creating a robust database comprising existing and subsequent growth dynamics.
Ascensions in Technology
Diverse technological advancements and cutting-edge innovations in the market have been covered in this study to assist the stakeholder in research and development activities. Recent upgrades have also been added in the study, thus helping the stakeholder to paint the strokes of growth on the canvas of the market.
The study presents a plethora of challenges and obstacles that can hinder the growth of the market to allow the stakeholder to prepare their strategies accordingly.
The world ushered in the new decade with the shadow of the COVID-19 pandemic. The outbreak has damaged the growth prospects of several businesses and has crippled the entire economy. The study is in tandem with the changing dynamics of the market due to the SARS-CoV-2 outbreak. The study focuses on the coronavirus pandemic and analyses every aspect that impacts the growth positively or negatively.
An aerial perspective of the regions covered in this study enables the stakeholder to design strategies accordingly. The 360-degree assessment of every aspect associated with growth offers information on a rainbow of growth opportunities available across the market.
The exhaustive study motivates the stakeholder to take the 'LEAP' of faith and achieve success!
This report is the key to questions such as:
What are the prominent factors that will help in reshaping the market growth?
Which trends have the potential to bring expansive growth for the market?
What are the necessary strategies to overcome the ill-effects of the COVID-19 pandemic?
Which regions will emerge as champion growth contributors for the market?
Which aspects will serve as game-changers for the market?
What are the latest innovations in the market?
Which factors will hinder the growth of the market?
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