Friction Materials Market: Snapshot
Friction is the resistive power among two contacts that prevent the objects from sliding. Friction happens between every one of the three types of materials, for example, liquid, solid, and gas Liquid friction is the friction between fluids. Friction materials are utilized to upgrade the execution of vehicles, their appearance and efficiency. Major area of application of friction products and materials are aircrafts, passenger cars, railways, trucks, commercial vehicles, along with other modern applications. Friction products incorporated into the previously mentioned regions are brake cushions, brake shoes, car brakes, discs, drum brake, and brake lining. Brake friction materials incorporate materials, for example, steel fiber, magnesium oxide, resins, aluminum oxide, barium, and friction dust. The mentioned materials are utilized to enhance wear resistance, thermal stability, and strength.
The report presented herewith is a phenomenal compilation of different studies about the global friction materials market, which include market competition, segmentation, and regionals all the possible hindrance, driving factors, analysis. The report is based on the statistic in terms of volume, revenue, and sales of the product during the forecast period from 2018 to 2026. The report states all the possible hindrances, driving factors, and current trends which would help the investor and buyer of the report to make the suitable decision for his business.
Friction Materials Market: Trends and Opportunities
Surging demand for commercial and passenger vehicles has prompted the rise in the utilization of automobile parts, which is driving the development of the friction materials market.
Pads are metal sponsorship plates with friction materials. They are presented to high scraped area, which prompts wear and tear. Friction pads are generally utilized in disc break mechanisms all over different end-use enterprises. In this way, the development of end-utilize ventures, for example, automobile is powering the demand for friction materials
The segment of aftersales is estimated to enlist a rapid development rate in the friction materials market within the forecast period. Aftersales friction materials products involve consumable friction products, which are experiencing popularity from end-use sector. The market in the segment of original equipment (OE) is as well anticipated to observer critical development in coming years.
The brakes segment drove the global friction materials market. The surging demand for friction reducing mechanisms, for example, drum brakes, and disc brakes especially from the auto industry, has powered the market. The rising pattern with respect to the popularity of plate brakes for better braking mechanism has prompted the popularity for friction brakes.
Friction Materials Market: Regional Outlook
In the basis of region, the friction materials market is segment into Asia Pacific, North America, Latin America, and the Middle East and Africa. Asia Pacific, is estimated to be the dominant region and a major revenue contributor to the friction materials market throughout the forecast period. The growing market for OEMs and aftermarket materials and low production costs facilities drives the demand for automotive brake friction materials in this region.
Friction Materials Market: Competitive Landscape
Some of the major players in friction materials market are Federal-Mogul Corporation, Akebono Brake Industry Co., Ltd., Nisshinbo Brake Inc., Fras-le S A, ITT, Carlisle Brake & Friction, Honeywell Corporation, and ADVICS Co., Ltd. The key players are investing heavily in research and development activities. These activities are likely to expand the global reach of these organizations. Moreover, in order to sustain their market position, companies are also indulging in improving their product portfolio.
Friction Materials Market segmentation based on geography:
- North America
- South America
- Asia Pacific
- Middle East and Africa
This report gives access to decisive data, such as:
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for the coming years
Key highlights of this report include:
- Overview of key market forces propelling and restraining market growth
- Up-to-date analyses of market trends and technological improvements
- Pin-point analyses of market competition dynamics to offer you a competitive edge
- An analysis of strategies of major competitors
- An array of graphics and SWOT analysis of major industry segments
- Detailed analyses of industry trends
- A well-defined technological growth map with an impact-analysis
- Offers a clear understanding of the competitive landscape and key product segments
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.