Press release
Friction Products and Materials Market Demands and Growth Predication 2018-2025
The friction products and materials market size accounted for $17,046 million in 2017, and is expected to reach $24,533 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025. In 2017, Asia-Pacific dominated the global market, in terms of revenue, accounting for about 47.0% share of the global market, followed by Europe.
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The automotive industry secured the highest share of about 63.9% in the global friction products and materials market in 2017 and is expected to grow at a CAGR of 5.1% during the forecast period. In terms of product types, brake pad is expected to account for the highest market share in the coming years.
Pads and lining are the two most popular friction materials. Pads look like a half circular structure, whereas friction linings are made of abrasive components and lubricate raw components of friction materials. Benefits offered by lining friction materials include high heat & pressure resistance and recoverable structure of linings, which drive their demand in the passenger and commercial vehicles.
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Asia-Pacific to dominate during the forecast period
Asia-Pacific accounted for nearly half of the total share in terms of revenue in 2017 and will maintain its lead in terms of revenue during the forecast period. This region is expected to grow at the fastest rate with a CAGR of 5.3% from 2018 to 2025. This dominance is due to rise in penetration of friction products along with high concentration of suppliers. The research also discusses North America, Europe, and LAMEA.
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.
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