Press release
Friction Products and Materials Market Share, Top Companies, Key Segments and Forecast by 2025
Friction Products and Materials Market
The global friction products and materials market size was valued at $17,046 million in 2017, and is projected to reach $24,533 million by 2025, growing at a CAGR of 4.7% from 2018 to 2025.
Top Companies
Carlisle Brake & Friction (CBF), Nisshinbo Holdings Inc., Fras-le, European Friction Industries Ltd, Hindustan Composites Ltd., Akebono Brake Industry, ABS Friction, Inc., GMP Friction Products, Tenneco Inc. (Federal-Mogul Motorports LLC), Miba AG.
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The friction products and materials market encompass a wide range of components used to generate frictional force, control motion, and dissipate heat. These products find applications in industries such as automotive, aerospace, construction, railway, and manufacturing. Friction materials include brake pads, clutches, friction linings, friction discs, and brake shoes, among others.
The automotive sector represents a significant portion of the friction products market. Friction materials, particularly brake pads and linings, are essential for ensuring safe and reliable braking performance in vehicles. As automotive safety standards continue to evolve, the demand for advanced friction materials with improved durability, low noise levels, and reduced environmental impact is on the rise.
Friction products are widely used in industrial machinery for various applications such as braking, motion control, and torque transmission. Industries such as manufacturing, construction, and mining rely on friction materials to optimize equipment performance, increase productivity, and ensure worker safety. Friction materials find critical applications in the aerospace and defense sectors.
Competitive Analysis
The report takes in an analysis of the major market players active in the global Friction Products and Materials Market. It emphasizes on the business strategies such as new product launches, mergers & acquisitions, partnerships, and collaborations incorporated by these market players to reinforce their position in the market. The market report takes account of statistics, tables, and charts to present a detailed study of the industry.
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Regional Analysis:
Region-wise, the global Friction Products and Materials Market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, Asia-Pacific was the highest contributor to the global Friction Products and Materials Market share, and LAMEA is anticipated to secure a leading position during the forecast period.
Challenges and Future Outlook
The friction products and materials market are poised for significant growth in the coming years. Factors such as the rising demand for electric vehicles, stringent safety regulations, and increasing industrial automation are expected to drive market expansion. Additionally, advancements in nanotechnology and the introduction of innovative manufacturing processes are likely to pave the way for superior friction materials with enhanced performance and durability.
The friction products and materials market are a dynamic and essential sector, playing a pivotal role in diverse industries. With a focus on efficiency, safety, and environmental sustainability, manufacturers are continuously innovating and improving friction products to meet evolving market demands. As industries embrace new technologies and safety standards, the friction products and materials market will continue to flourish, contributing to enhanced performance, reliability, and safety across multiple sectors.
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About Allied Market Research:
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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