Friction Materials Market 2019; Competitive Players is Enhancing the Growth at a CAGR of 5.1% | European Brake Company, ABS Friction, Yantai Hi-Pad Brake Technology, etc.

Market Size - USD 44.2 Million in 2018, Market Growth - CAGR of 5.1%, Market Trends - The advent of auto components requiring frictional materials are driving the market.

The global friction materials market is forecast to reach USD 66.2 Million by 2026, 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.

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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.

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; 2016-2026)
Pads
Linings
Discs
Blocks

Business Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
Original Equipment
Aftersales
Others

Application Type Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
Brakes
Clutches
Others

End-User Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
Automotive
Railway
Construction
Others

Regional Outlook (Volume, Kilo Tons; Revenue, USD Million; 2016-2026)
North America
Europe
Asia Pacific
MEA
Latin America

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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.

Further key findings from the report suggest

o 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.

o 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.

o 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.

o 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 2018.

o 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.

Go through our meticulously drafted TOC, Tables, Statistics, Charts, and Company profiles @ https://www.reportsanddata.com/report-detail/friction-materials-market

The report emphasizes the following key questions

Q.1. What are the most lucrative and promising growth prospects for the market?
Q.2. Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement?
Q.3. Which geographies are estimated to exhibit the highest growth and the underlying causes?
Q.4. Which factors are impacting the future of the market and what are the driving factors?

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