New York, United States , July 23, 2024 (GLOBE NEWSWIRE) -- The Global Friction Materials Market Size is Expected to Grow from USD 57.40 Million in 2023 to USD 92.60 Million by 2033, at a CAGR of 4.90% during the forecast period 2023-2033.
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Friction materials are substances that provide friction between two solid surfaces to control or prevent forward or backward motion. Friction materials include organic fibers like rubber, resin, aramid, and sintered metals like brass, steel, copper, and ceramics. These materials are intended to provide resistance to motion, often to control or limit movement, transmit forces, or convert kinetic energy into heat. Friction materials are commonly utilized in numerous applications, such as brakes in vehicles, clutches, industrial machinery, and other mechanical systems where controlled frictional interaction is required for safe and efficient operation. Several major variables drive the friction materials market, influencing its growth and dynamics. The automotive industry, which relies heavily on friction materials for brake systems and other components, drives the majority of the demand. Industrial machinery is particularly important, as heavy-duty applications necessitate the use of long-lasting friction materials. Technological improvements such as novel material formulations and eco-friendly solutions are driving market expansion. However, the friction materials market confronts various constraints that limit its growth and development, including environmental laws, particularly with emissions and hazardous compounds, which constitute substantial barriers for traditional friction materials.
Browse key industry insights spread across 195 pages with 110 Market data tables and figures & charts from the report on the "Global Friction Materials Market Size, Share, and COVID-19 Impact Analysis, By Type (Metallic Materials, Sintered Materials, Organic Materials, and Ceramic Materials, Others), By Application (Brake Pads, Brake Linings, Clutches, Others), End-user Industry (Automotive, Railway, Construction) and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The sintered materials segment is predicted to hold the largest market share through the forecast period.
Based on the type, the friction materials market is classified into metallic materials, sintered materials, organic materials, ceramic materials, and others. Among these, the sintered materials segment is predicted to hold the largest market share through the forecast period. Sintered materials are preferred because of their ability to tolerate high temperatures, provide consistent friction performance, and maintain great durability in harsh situations. These materials are widely utilized in applications that require high-performance braking systems, including sports automobiles, racing vehicles, heavy-duty trucks, and industrial machinery.
The brake pads segment is anticipated to hold the highest market share during the projected timeframe.
Based on the application, the friction materials market is divided into brake pads, brake linings, clutches, and others. Among these, the brake pads segment is anticipated to hold the highest market share during the projected timeframe. Brake pads are critical components of automobile braking systems because they convert kinetic energy into heat through friction, allowing cars to slow or stop efficiently. The consistent need for brake pads originates from continued vehicle production, replacement needs in the aftermarket, and rising vehicle fleet sizes worldwide.
The automotive segment is anticipated to hold the greatest share of the friction materials market during the projected timeframe.
Based on the end-user industry, the friction materials market is categorized into automotive, railway, and construction. Among these, the automotive segment is anticipated to hold the greatest share of the friction materials market during the projected timeframe. This segment includes a variety of automotive applications, such as brake pads, brake linings, and clutch systems. The automotive industry's strong demand is driven by factors such as increased global vehicle production, rising consumer demand for passenger and commercial cars, and high regulatory criteria for vehicle safety and emissions.
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Asia Pacific is estimated to hold the largest share of the friction materials market over the forecast period.
Asia Pacific is estimated to hold the largest share of the friction materials market over the forecast period. The region benefits from having the world's largest automotive market, which is being pushed by rapid urbanization, rising consumer spending power, and increased car production. This demand includes friction compounds used in brake systems, clutches, and other automotive applications. Additionally, Asia Pacific's industrial sector is witnessing tremendous expansion, driven by infrastructure development projects in countries such as China, India, and Southeast Asian states.
North America is predicted to have the highest CAGR growth in the friction materials market over the forecast period. The North American segment is attributable to several causes, including the region's leadership in technical innovation, strict regulatory standards, and substantial industrial and infrastructure growth. The automotive industry, in particular, benefits from developments in friction material technology aimed at improving performance, safety, and environmental sustainability.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major key players in the friction materials market include Akebono Brake Industry Co., Ltd., Nisshinbo Brake Inc., ASIMCO Technologies, EBC Brakes, Federal-Mogul Holdings, Valeo Friction Materials India, Yantai Hi-Pad Brake Technology, Robert Bosch GmbH5, Carlisle Brake & Friction, Aisin Corporation, Brake Parts Inc LLC, ZF Friedrichshafen AG, ACDelco, Brembo S.p.A., and Others key players.
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Recent Developments
- In August 2023, Nisshinbo Holdings sold TMD Friction Group, a manufacturer of brake friction solutions, to AEQUITA SE & Co. KGaA, an industrial group subsidiary.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2023 to 2033. Spherical Insights has segmented the friction materials market based on the below-mentioned segments:
Global Friction Materials Market, By Type
- Metallic Materials
- Sintered Materials
- Organic Materials
- Ceramic Materials
- Others
Global Friction Materials Market, By Application
- Brake Pads
- Brake Linings
- Clutches
- Others
Global Friction Materials Market, By End-user Industry
- Automotive
- Railway
- Construction
Global Friction Materials Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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