Press release
Friction Products and Materials Market Worth $24,533 Million by 2025 | Key Drivers, Restraints and Opportunities
Friction Products and Materials Market
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The process of friction is required in the brake system, clutch, and grinding. In braking process, brake pads or brake shoes are pressed against the rotating brake disc or drum. Brake system is used to slow down and stop moving motor vehicles and to hold vehicle stationary when in parking position.
According to a new report published by Allied Market Research, titled,"Friction products and materials market by Product Type, End-Use Industry, and Application: Global Opportunity Analysis and Industry Forecast, 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.
The growth of the market is driven by increase in demand for friction products and materials from the automotive end-user industry. This in turn also drives the global friction materials market. In addition, manufacturers are focusing on launching new friction products as part of their business strategy to gain a stronger foothold in the friction products and materials market.
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Key Segments
By Product
Pads
Lining
Discs
Blocks
Others
By Business Type
Original Equipment (OE)
Aftersales
By Application
Brakes
Clutches
Industrial Brake & Transmission Systems
By End-User Industry
Automotive
Railway
Construction
Aerospace & Marine
Others
By Region
North America
Europe
Asia-Pacific
LAMEA
Key Players
ABS FRICTION CORP.
Akebono Brake Industry
Carlisle Brake & Friction (CBF)
European Friction Industries Ltd
Fras-le
GMP Friction Products
Hindustan Composites Ltd.
MIBA AG
Nisshinbo Holdings Inc.
Tenneco (Federal-Mogul Holding)
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About Us
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 domains.
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MARKET INTRODUCTION
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