Press release
Friction Products and Materials Market Status - Size, Top Companies, Annual Forecast 2018-2025
Allied Market Research published a report, titled, "Friction Products and Materials Market by Product (Pads, Lining, discs, blocks, and Others), Business Type (Original Equipment and Aftersales), End User (Brakes, Clutches, and Industrial Brake & Transmission Systems), and Application (Automotive, Railway, Construction, Aerospace & Marine, and Others): Global Opportunity Analysis and Industry Forecast, 2018-2025."According to the report, the global friction products and materials market garnered $17.04 billion in 2017, and is expected to garner $24.53 Billion by 2025, registering a CAGR of 4.7% from 2018 to 2025.
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Brakes segment to offer lucrative opportunities
Based on application, the brakes segment held the major share in 2017, contributing more than half of the total market share. This segment will maintain its lead in terms of revenue by 2025. Moreover, This segment is expected to accrue the fastest growth rate with a CAGR of 5.1% from 2018 to 2025.
Pads segment to maintain its dominating position in terms of revenue by 2025
Based on product type, the pads segment accounted for nearly two-fifths of the total share and is expected to maintain its dominating position in terms of revenue throughout the forecast period. Moreover, this segment is estimated to grow at the fastest CAGR of 5.4% from 2018 to 2025.
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Leading market players
Leading market players analyzed in the research include Akebono Brake Industry, ABS Friction Corp., European Friction Industries Ltd., Carlisle Brake & Friction (CBF), Hindustan Composites Ltd., Fras-le, GMP Friction Products, Nisshinbo Holdings Inc., MIBA AG, and Tenneco (Federal-Mogul Holding).
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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MARKET INTRODUCTION
Friction products are used to produce friction in order to reduce the velocity or stop the movement of a particular object. Friction is the resistance which opposes the movement of object. Friction products cover wide range of pads, linings, blocks, rolls, sheets, clutches etc. Commonly used materials in friction based products are paper (cotton or cellulose fiber and phenolic resin mixture), elastomerics, graphitics, sintered metal ceramics, advanced fibers and…
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