Automotive Brake Friction Materials Market Projected to Witness a Single-Digit CAGR During 2018 – 2028
Automotive brake friction materials are made of several components, such as brake pads and brake linings, and are used to retard the speed of the vehicles by changing kinetic energy to thermal energy. Automotive brake friction materials are used in brake and clutch systems, which are attached to components made from cast iron and other materials. The automotive brake friction materials are utilized to back off a vehicle by changing active vitality to warm vitality with the assistance of erosion and warmth in encompassing condition. The automotive brake friction materials are given unpleasant surfaces to enhance erosion. Manufacturers produce automotive brake friction materials that diminish the ceasing separation after brakes are connected. Likewise, they center on reducing the heaviness of the erosion automotive brake friction materials. The automotive brake friction materials market are gaining growth opportunities through the increase in the competitive environment among manufacturers.
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Increasing Demand for Commercial Vehicle Likely To Boost Automotive Brake Friction Materials Market
The growing demand for automotive brake friction materials, mainly from the automotive industry, is due to the adoption of disc brakes to enhance the braking system in vehicles. The market is driven by rising interest for commercial and passenger vehicles, which prompts the development of automotive brake friction materials utilization in auto parts. The absence of materials showcase advancement crosswise over end-use ventures, such as agricultural equipment and others, in the MEA region, which may control the development of the automotive brake friction materials market. The aforementioned factor is contributing to the growth of the global automotive brake friction materials market with single digit growth rate over the forecast period.
Automotive Brake Friction Materials Market Growth Triggered by Automotive Industry Growth
The automotive brake friction materials market can be segmented on the basis of product type as brake pad, brake disc, brake drum, brake shoe and brake liner. The automotive brake friction materials market can also be segmented on the basis of disc materials as ceramic disc, metallic disc and composite disc.
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The automotive brake friction materials market can be segmented on the basis of end-use application as automotive, construction equipment, agricultural vehicles and other end-use applications. The growing automotive industry is likely to contribute to the growth of the global automotive brake friction materials market over the forecast period. Moreover, the automotive brake friction materials market can also be segmented on the basis of vehicle type as passenger vehicles, light commercial vehicle, heavy commercial vehicles and others.
Asia Pacific to grow significantly in the Global Automotive Brake Friction Materials Market
The global automotive brake friction materials market is segmented into Latin America, Western Europe, North America, Asia and Pacific excluding Japan (APEJ), Eastern Europe, Japan, and the Middle East and Africa (MEA). The regional segment includes emerging countries such as China, India, and Russia in the automotive brake friction materials market. Among the segmented regions, the automotive brake friction in Asia and Pacific region for sales and demand are expected to hold a considerable share in the global automotive brake friction materials market. The Asia Pacific automotive brake friction materials market is growing due to the substantial growth in the automotive and aerospace industry in the region. The automotive brake friction materials market growth is driven by rapid industrialization and increasing demand for personal automotive vehicles across the globe.
Automotive Brake Friction Materials market: Competition Analysis
The key players in the global automotive brake friction materials market are Nisshinbo Holdings, Akebono Brake Industry, Aisin Seiki, Fras-Le, Federal-Mogul Holdings, ITT Inc., Yantai Hi-Pad Brake Technology, Carlisle Brake & Friction (CBF), Valeo Friction Materials India Private Limited and Miba AG among other players. The market players are inclined towards the geographical expansion of their business, which is anticipated to contribute to the growth of the global automotive brake friction materials market in the forecast period.
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