Press release
Global Friction Products & Materials Market to Rise from USD 29.9 Billion in 2023 to USD 43.6 Billion by 2030 at 5.5% CAGR - Friction Products and Materials Market forecast
Friction Products and Materials Market
According to a Strategic Business Report by ResearchAndMarkets, the global Friction Products and Materials Market was valued at USD 29.9 billion in 2023 and is projected to reach USD 43.6 billion by 2030, showing a compound annual growth rate (CAGR) of 5.5% over the forecast period.
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◉Key Highlights
Market Size & CAGR: USD 29.9 billion in 2023 → USD 43.6 billion by 2030 at 5.5% CAGR.
Leading Product Segment: Friction pads expected to lead, reaching USD 16.7 billion at a 6.7% CAGR.
Fastest-Growing Region: China projected to grow at a remarkable 9.3% CAGR, reaching USD 11.3 billion by 2030.
Key Drivers & Trends: Boosted by automotive and industrial demand, with growth underpinned by innovation in high-performance and durable materials.
Notable Companies: Includes Akebono Brake Industry, Nisshinbo Brake Inc., Robert Bosch GmbH, Valeo Friction Materials, Brembo, Federal-Mogul, and others.
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◉Body Content
Market Outlook
The Friction Products and Materials Market is anticipated to expand substantially-from USD 29.9 billion in 2023 to USD 43.6 billion by 2030, growing at a 5.5% CAGR. Growth is driven by surging demand from automotive braking systems, industrial machinery, and infrastructure applications.
Regional Insights
Asia-Pacific is the fastest-growing region, led by China's projected 9.3% CAGR, supported by expanding automotive manufacturing and infrastructure investments.
North America and Europe remain significant markets, with the U.S. market in the multi-billion-dollar range.
Other regions like Japan, Canada, and Germany are also projected to grow at moderate rates of ~2-4%.
Product & Application Segmentation
By Product: Friction pads dominate the market and are expected to grow to USD 16.7 billion at a 6.7% CAGR. Lining materials follow with a 5.8% CAGR.
By Application/End-User: Automotive remains the largest application, though industrial segments like machinery and construction equipment also contribute significant demand.
Growth Drivers & Emerging Trends
Drivers: Expansion in automotive production, rising safety standards, and industrial automation bolster market demand.
Trends: Growing demand for durable, eco-friendly, and high-performance friction materials such as ceramic variants.
To learn more about the findings of this research, please check:https://www.maximizemarketresearch.com/market-report/global-friction-products-and-materials-market/111606/
Competitive Landscape
Major global players-including Akebono, Brembo, Bosch, Federal-Mogul, and Valeo-are gaining traction through innovation, regional expansions, and partnerships tailored to automotive and industrial needs.
◉Quote
"As the friction products and materials market forecast projects a steady rise to over USD 43 billion by 2030, manufacturers must innovate for performance and sustainability to stay ahead," said a market analyst specializing in automotive components.
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◉About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology and communication, cars and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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