Press release
Friction Materials Market Size Share Industry Forecast 2023-2030
friction materials market
Rising Automotive Demand:
The automotive sector's increasing demand for friction products drives market growth. Manufacturers focus on innovation, like TMD Friction introducing Textar, a premium brake pad, enhancing braking performance.
Aerospace and Construction Boost:
The aerospace, machinery, and construction industries contribute to the growing need for friction products. Manufacturers align with evolving standards, such as California's restrictions on friction compounds containing over 0.5 percent copper.
Maintenance Cost Challenge:
High maintenance costs hinder market expansion. Frequent brake pad adjustments and replacements, especially in vehicles with continuous brake usage, contribute to the overall expense of friction systems.
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Market Segmentation Analysis:
End-User Segmentation:
The friction materials market is segmented into railway, automotive, construction, and others. The automotive industry dominates, utilizing friction materials in clutches, brakes, and gears for both light-duty and heavy-duty vehicles.
Geographical Share:
Asia-Pacific Dominance:
Asia-Pacific, fueled by China and India's industrial and automotive sectors, dominates the global market. Growing demand for friction materials in various applications, including vehicles and railways, propels the market in the region.
Competitive Landscape:
The friction material industry is partially concentrated, with key players like Akebono Brake Industry, Federal-Mogul Holdings, and Nisshinbo Holdings. Manufacturers focus on efficiency and cost-effectiveness, as seen with Federal-Mogul Motorparts offering Jurid replacement brake pads.
In summary, the friction materials market experiences growth fueled by automotive, aerospace, and construction demands, with Asia-Pacific leading the geographical share. Key players emphasize innovation and cost-effectiveness to maintain a competitive edge.
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