Friction Materials Market by Top Manufactures, Industry Growth Analysis, Demand and Forecast 2021-2030

The Global Friction Materials Market size is estimated to be USD 46.6 million in 2019 and is predicted to reach USD 77.2 million by 2030 with a CAGR of 4.7% from 2020-2030.

Friction is the resistance between two objects which prevents the sliding of objects and it is used in vehicles and in machines to upgrade the products and provide easy and smooth functioning without any damage or avoid accidents. Friction materials are used in vehicles, passenger vehicles, aircraft, railways, trucks and in various industries and machinery Materials and it has different components such as pads, cushions discs and other with avoid the wear and tear with effective functioning.

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Top Companies: Akebono Brake Industry, ABS FRICTION CORP., European Friction Industries Ltd, Carlisle Brake & Friction (CBF), Fras-le, Hindustan Composites Ltd., GMP Friction Products, Nisshinbo Holdings Inc., MIBA AG and others.

Market Dynamics and Trends

There have been increase in automation and modernization over the forecast period coupled with increased used of machinery. Moreover, presence of advanced technology with developed infrastructure coupled with increase in automotive industry is further expected to support the growth of friction material market.

The other factors include increase in disposable income and urbanization with wide applications and increase in construction industry are also expected to gain traction over the forecast period. However, lack of advanced friction materials and advancement in breaking system are also expected to eliminate the friction materials which are expected to adversely affect the growth of friction materials market. Moreover, increase in strategic collaboration with new product launches are expected to create ample opportunities in the friction materials market over the forecast period.

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Market Segmentations and Scope of the Study:

The global friction materials market share is analyzed on the basis of product, business type, application, end user and geography. On the basis of product, the market is segmented into Pads, Lining, Discs, Blocks, and Others. On the basis of business type, the market is divided into Original Equipment (OE) and Aftersales. Based on application, the market is fragmented into Brakes, Clutches, and Industrial Brake & Transmission Systems. Based on end user, the market is divided into Automotive, Railway, Construction, Aerospace & Marine, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.

Geographical Analysis

North America is expected to denote the increased adoption of friction materials over the forecast period with increased automation. Moreover, increase in technological advancement coupled with presence of developed infrastructure is further expected to augment the growth of friction materials market.

Asia pacific is expected to denote rapid growth with consistent growth in market share owing to the increase in automotive industry over the forecast period. Furthermore, increase in urbanization and industrialization coupled with increase in construction industry is further expected to accelerate the growth of friction materials market.

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