Friction Pads Market
Friction Pads Market (Product Type: Metallic, Sinter Metallic, Low Metallic, Non-Asbestos Organic [NAO], Ceramic, and Others; Business Type: Original Equipment and Aftersales; Application Type: Brakes [Disc Brakes, Drum Brakes, and Others], Clutches, and Others; and End-use: Automotive, Railways, Construction, Mining, Aerospace, Agriculture, and Others) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031
- Chemicals & Materials
- 345 Pages
COVID-19 Pandemic Derails Growth Prospects of Friction Pads Market
The COVID-19 pandemic has caused distress to the global friction pads market. The shortage in raw materials due to the supply chain disruptions have led to the volatility in the friction pads market. The lockdown restrictions forced manufacturing units and production units to shut down for a brief period.
One of the recent examples of an impromptu shut down due to the pandemic was TMD Friction, a leading manufacturer of friction pads in the U.K. Nearly 15% of the staff was forced into isolation after the National Health Service (NHS) application notification of being in close contact with a COVID-19 positive individuals. These factors have had a negative impact on the growth of the friction pads market.
However, a change in the self-isolation rules is a welcoming move. The U.K. Government recently tweaked self-isolation rules to avoid partial shutdowns such as TMD friction. The changes state that fully vaccinated people do not have to isolate if they come in close contact with any COVID-19 positive individuals. These factors will help in stabilizing the growth structure of the market.
Transparency Market Research study on the friction pads market projects the global market to expand at a CAGR of 4.4% during the forecast period of 2021-2031. The friction pads market is expected to cross the valuation of US$ 7.97 Bn by 2031.
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Eco-Friendly Friction Pads Offer Profitable Opportunities
The wave of sustainability has touched almost all sectors, including the friction pads market. The use of eco-friendly materials in developing friction pads has gained considerable traction. These pads are formulated without the use of materials such as antimony trisulfide, copper, lead, and others. The demand for such pads is anticipated to drive the friction pads market.
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Growing Popularity of Regenerative Braking in Electric Vehicles to Drive Global Market
Electric vehicles sales are increasing at a rapid rate around the world. These cars use regenerative braking mechanism. This mechanism enables to recuperate braking energy. With regenerative braking, the kinetic energy of a vehicle is converted into electrical energy. Thus, these factors are increasing the growth rate of the friction pads market. The San Francisco Municipal Transportation Agency has recently ordered 30 El Dorado hybrid buses equipped with regenerative braking. Almost all electric vehicles use this technology. Therefore, these aspects will strengthen the growth structure of the friction pads market.
Rising Demand for ATVs, SSVs Propel Need for Sintered Brake Pads
Sintered friction pads are prominently used in high-energy applications. Off-road vehicles use these brakes due to their beneficial properties such as enhanced fade resistance, extended life, and superior wet-effectiveness. The rising urbanization in various countries is leading to increase in construction activities. STVs and ATVs are utilized at construction sites. In addition, recreational sports activities involving off-road vehicles have gathered considerable popularity, eventually boosting the demand for sintered friction pads.
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The friction pads market is projected to expand at a modest CAGR of 4.4% during the forecast period of 2021-2031. The emergence of eco-friendly friction pads will offer novel growth prospects for the global market. Furthermore, manufacturers in the friction pads market are focusing on strategic collaborations, which will serve as a growth-boosting factor. The booming electric vehicle industry also creates profitable growth opportunities due to the regenerative braking mechanism. Manufacturers should focus on developing technologically advanced friction pads that offer more convenience. However, the growing adoption of frictionless technologies might dent the growth trajectory of the friction pads market to a considerable extent.
Friction Pads Market: Overview
- Metallic friction pad comprises metals such as steel, copper, iron, and other composite alloys in various shapes, sizes, amounts, and combinations. These essential constituents provide high resistance and thermophysical properties such as specific heat and thermal conductivity. The density of friction pads increases with addition of metallic contents, making them less porous. Metallic friction pads are usually used in high-performance or high-speed vehicles.
- Sintered metallic friction pads are used in most OEM applications, high performance automotive, power sports, etc. due to their ability to perform in a variety of conditions. Sintered metallic friction pads are made from metallic particles that are fused at a high temperature and pressure. Sintered metallic friction pads are long lasting and possess strong stopping power under extreme braking. They are more consistent and can handle wet and dirty conditions. Sintered metallic friction pads are used in aerospace, agriculture, construction, industrial, military, mining, motorsports, and power sports industries.
- Low metallic friction pads are made primarily of metals such as copper or steel along with organic materials. They have exceptional heat transfer and braking capabilities, but also tend to generate a lot of noise and brake dust.
- According to Transparency Market Research’s latest research report on the friction pad market for the forecast period of 2021 to 2031, rise in usage of friction pads in automotive, railways, aerospace, and agriculture industries is a key factor that is expected to boost the global friction pads market during the forecast period
- In terms of revenue, the global friction pads market is estimated to cross US$ 7.97 Bn by 2031, expanding at a CAGR of 4.4% during the forecast period
Increase in Automobile Production: Key Driver of Friction Pads Market
- Steady growth in employment, business investment, and industrial productivity has contributed toward a continual increase in Gross Domestic Product and real disposable income. Increase in per capita income and growth in industrialization have boosted the sale of passenger and commercial vehicles for transportation of people and goods.
- OEMs have increased their manufacturing activities in order to cater to the rising demand for vehicles. This increase in vehicle production across the globe is estimated to boost the demand the global friction pads.
- Miles driven per vehicle is increasing worldwide. According to the data of U.S. Department of Energy, annual vehicle miles travelled in the U.S. have increased by 0.28 trillion miles over the last 10 years. This increase in number of miles driven leads to a rise in wear and tear of friction pads, thus creating a need for their replacement at regular intervals. Thus, rise in demand for friction pads in OEMs and aftermarket segments is propelling the global friction pads market.
Ceramic Product Type Dominates Friction Pads Market
- Based on product type, the ceramic segment dominated the global friction pads market in 2020. This can be primarily ascribed to the increase in demand for friction pads in various end-use industries, including automotive, railways, construction, mining, aerospace, and agriculture.
- Sinter metallic friction pads have the ability to provide high shear and bonding strength in brake systems. The presence of 30% to 60% metallic materials, including steel and iron, provides high thermal stability to brake systems. Additionally, higher temperature operating range of up to 400°C to traditional drum brakes is anticipated to increase the product penetration over the next few years.
- Manufacturers of friction pads have developed non-asbestos organic friction pads that contain high amount of reinforcement fibers compared to that in fully organic friction pads
Friction Pads Market: Competition Landscape
- Detailed profiles of providers of friction pads have been included in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global friction pads market are
- AKEBONO BRAKE INDUSTRY CO., LTD.
- AISIN CORPORATION
- Robert Bosch GmbH
- EBC Brakes
- Japan Brake Industrial Co., Ltd
- Brembo S.p.A
- Nisshinbo, Tenecco Inc.
- TMD FRICTION HOLDINGS GMBH
- ZF Friedrichshafen AG
- Masu Brakes
- Brake Parts Inc. LLC.
- Carlisle Brake & Friction
- Miba AG
- Major providers of friction pads, such as AKEBONO BRAKE INDUSTRY CO., LTD., Nisshinbo, Tenecco Inc., AISIN CORPORATION, Asimco, ZF Friedrichshafen AG, and Robert Bosch GmbH, are focusing on research & development, merger, joint venture, collaboration, and product innovation strategies
- In the global friction pads market report, we have discussed individual strategies, followed by company profiles of providers of friction pads. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global friction pads market.
Friction Pads Market – Scope of Report
The latest study collated and published by Transparency Market Research (TMR) analyzes the historical and present-day scenario of the global friction pads market in order to accurately gauge its future growth. The study presents detailed information about the important growth factors, restraints, and trends that are creating a landscape for the growth of the global friction pads market so as to identify growth opportunities for market stakeholders. The report also provides insightful information about how the global friction pads market would expand during the forecast period of 2021 to 2031.
The report offers intricate dynamics about different aspects of the global friction pads market, which aid companies operating in the market in making strategic development decisions. TMR’s study also elaborates on significant changes that are highly anticipated to configure growth of the global friction pads market during the forecast period. It also includes a key indicator assessment that highlights growth prospects of the global friction pads market and estimates statistics related to growth of the market in terms of volume (units) and value (US$ Mn).
This study covers a detailed segmentation of the global friction pads market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the global friction pads market, wherein various development, expansion, and winning strategies practiced and implemented by leading players have been presented in detail.
Key Questions Answered in TMR’s Report on Friction Pads Market
The report provides detailed information about the global friction pads market on the basis of comprehensive research on various factors that are playing a key role in accelerating the growth potential of the global market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the market and are looking for innovative methods to create a unique benchmark in the global friction pads market, so as to help them design successful strategies and make target-driven decisions.
- Which end-use segment of the global friction pads market would emerge as major revenue generator during the forecast period?
- How are key market players successfully earning revenue out of advantages of friction pads?
- What would be the Y-o-Y growth trend of the global friction pads market between 2021 and 2031?
- What are the winning imperatives of leading players operating in the global friction pads market?
- Which product type segment is expected to create lucrative opportunities for the global friction pads market during the forecast period?
- Which are the leading companies operating in the global performance for friction pads market?
Research Methodology – Friction Pads Market
The research methodology adopted by analysts for compiling the global friction pads market report is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information that is obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts for the global friction pads market.
During the primary research phase, analysts interviewed market stakeholders, investors, brand managers, vice presidents, and sales and marketing managers. Based on data obtained through interviews of genuine sources, analysts have emphasized the changing scenario of the global friction pads market.
For secondary research, analysts scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the global friction pads market.
Friction Pads Market – Segmentation
TMR’s research study assesses the global friction pads market in terms of product type, business type, application type, end-use, and region. This report presents extensive market dynamics and trends associated with different segments of the market and how they are influencing growth prospects of the global friction pads market.