WASHINGTON, April 18, 2023 (GLOBE NEWSWIRE) -- The Global Zero Friction Coatings Market is valued at USD 842.9 Billion in 2022 and is projected to reach USD 1250.76 Billion by 2030 at a CAGR (Compound Annual Growth Rate) of 5.8% over the forecast period 2023-2030.
Market Overview
The global Zero Friction Coatings market is expected to grow significantly in the coming years, driven by the growing demand from various industries such as automotive, aerospace, and industrial machinery. The benefits of these coatings include reduced wear and tear, increased efficiency, and improved performance of the coated components.
We forecast that the molybdenum disulfide in Zero Friction Coatings Market sales will account for more than 50% of total sales by 2030. The development of new and innovative coating technologies and the increasing investments in research and development activities are expected to further the growth of the molybdenum disulfide coatings segment of the Zero Friction Coatings market.
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Market Dynamics
Growing Demand for High-performance Coatings will Increase to Support Market Expansion
This is primarily due to the increasing need for coatings that offer high durability, low friction, and high wear resistance in various industries, such as automotive, aerospace, industrial machinery, and medical equipment. High-performance coatings can help enhance the efficiency and lifespan of components, leading to reduced maintenance costs and increased equipment uptime. This is particularly important in industries that rely on high-performance machinery, where even small performance improvements can significantly impact overall efficiency and productivity.
Increasing Focus on Sustainability Drives the Growth of the Zero Friction Coatings Market
The focus on sustainability has led to a growing demand for coatings that can help reduce waste, energy consumption, and carbon emissions. Zero Friction Coatings can help achieve these goals by minimizing friction between components, reducing wear and tear, increasing efficiency, and reducing energy consumption. By reducing the need for lubrication, these coatings can also help reduce waste and improve the sustainability of industrial processes. In addition, using Zero Friction Coatings can help extend the lifespan of components, reducing the need for replacement and further reducing waste. This can help companies achieve sustainability goals while reducing costs and improving operational efficiency.
Top Players in the Global Zero Friction Coatings Market
- Endura Coatings (United States)
- DuPont de Nemours Inc. (United States)
- VITRACOAT (United States)
- Poeton (UK)
- Bechem (Hagen, Germany)
- ASV Multichemie Private Limited (India)
- GMM Coatings Private Limited (United States)
- IKV Tribology Ltd. (South Wales, UK)
- Blagden Specialty Chemicals Ltd. (Westerham, UK)
- Glanbia PLC (Ireland)
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Top Trends in the Global Zero Friction Coatings Market
- One trend that Vantage Market Research (VMR) expects to see in the Zero Friction Coatings market is the growing demand for nanocoating. Nanocoatings are coatings applied at the nanoscale level and offer a range of benefits, including improved durability, increased wear resistance, and reduced friction. The growing demand for nanocoating is expected to drive the growth of the zero-friction coatings market.
- Another trend that VMR predicts will continue in the Zero Friction Coatings market is its increasing adoption of PVD coatings. Physical vapor deposition (PVD) coatings are widely used in various industries, including automotive, aerospace, and medical equipment. These coatings offer high wear resistance, low friction, and enhanced durability, making them ideal for high-performance applications.
Top Report Findings
- Based on Type, the PTFE category controls most of the Zero Friction Coatings market's revenue. Over the projection period, PTFE coatings are expected to continue to be a significant segment in the Zero Friction Coatings market, driven by their unique properties and widespread use in various industrial applications.
- Based on the Formulation, the water-based coatings category controls most of the Zero Friction Coatings market's revenue. The increasing focus on sustainability and reducing carbon emissions in various industries is driving the adoption of water-based coatings, including in the Zero Friction Coatings market. In addition, tightening regulations on VOC emissions and hazardous air pollutants is expected to further boost the demand for water-based coatings in the coming years.
- Based on End Use, the Automobile & Transportation category controls most of the Zero Friction Coatings market's revenue. The automobile and transportation segment has dominated the Zero Friction Coatings market, given that this segment is a major user of Zero Friction Coatings. Zero Friction Coatings are used in various automotive and transportation applications to reduce friction, wear, and corrosion between moving parts, improving efficiency, durability, and performance.
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Recent Developments in the Global Zero Friction Coatings Market
- In 2022, PPG purchased Milan, Italy-based industrial coatings manufacturer Arsonsisi. The company anticipates this acquisition will help it expand its European market and grow its low-friction coatings business.
- In 2020, with a remarkably low coefficient of friction and a 75.0% reduction from their prior offers, Poeton introduced the Apticote 480A low friction coating.
Molybdenum Di-Sulfide Category of the Type Segment of Zero Friction Coatings Market to Generate half the Global Type Segment Revenue
For better understanding, based on the Type, the Zero Friction Coatings Market is divided into Polytetrafluoroethylene, Molybdenum Disulfide, and Other Types.
The demand for Molybdenum Disulfide coatings is expected to grow in the coming years, driven by the increasing need for high-performance coatings in various industries. Additionally, the development of new and innovative coating technologies and the increasing investments in research and development activities are expected to drive further the growth of the molybdenum disulfide coatings segment of the Zero Friction Coatings market.
On the other hand, the Polytetrafluoroethylene (PTFE) category is anticipated to grow significantly. The growing demand for high-performance coatings in various industries, such as automotive, aerospace, and electronics, is driving the growth of the Zero Friction Coatings market, including PTFE coatings. Moreover, the increasing focus on reducing energy consumption and improving sustainability in various industries is driving the adoption of zero-friction coatings, including PTFE coatings, which can help reduce friction between components and improve the efficiency of industrial processes.
Asia Pacific Region Anticipated to Generate close to Half the Global Revenue in the Global Zero Friction Coatings Market
The Asia Pacific region is anticipated to do so in the coming years. The increasing demand for electric vehicles in the region is expected to drive the growth of the Zero Friction Coatings market, as these coatings can help improve the efficiency of electric motors and reduce friction between components, leading to improved performance and reduced energy consumption.
The Asia Pacific region is expected to grow the fastest in the Zero Friction Coatings Market. This is primarily due to the increasing industrialization in the region and the growing demand for high-performance coatings in various industries, such as automotive, aerospace, and industrial machinery.
Browse market data Tables and Figures spread through 146 Pages and in-depth TOC on Zero Friction Coatings Market Forecast Report (2023-2030).
Global Zero Friction Coatings Market segmentation
By Type Outlook
- Polytetrafluoroethylene
- Molybdenum Disulfide
- Other Types
By Formulation Outlook
- Solvent-based Coatings
- Water-based Coatings
- Powder Coatings
By End-Use Outlook
- Automobile & Transportation
- Aerospace
- General Engineering
- Food & Healthcare
- Energy
- Other End Uses
By Region
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- South-East Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of MEA
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Scope of the Report:
| Report Attributes | Details |
| Market Size in 2022 | USD 842.9 Billion |
| Revenue Forecast by 2030 | USD 1250.76 Billion |
| CAGR | 5.8% from 2023 to 2030 |
| Base Year | 2022 |
| Forecast Year | 2023 to 2030 |
| Key Players | Endura Coatings, DuPont de Nemours Inc., VITRACOAT, Poeton, Bechem, ASV Multichemie Private Limited, GMM Coatings Private Limited, IKV Tribology Ltd., Blagden Specialty Chemicals Ltd., Glanbia PLC |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options https://www.vantagemarketresearch.com/zero-friction-coatings-market-2073/request-sample |
Key Questions Answered in the Zero Friction Coatings Market Report are:
- What is the current size and growth rate of the global zero friction coatings market, and what are the factors driving this growth?
- What are the different types of zero friction coatings available in the market, and what are their respective advantages and disadvantages?
- What are the various applications of zero friction coatings across different industries, and which industries are the largest consumers of these coatings?
- Who are the key players in the global zero friction coatings market, and what are their market shares and competitive strategies?
- What are the technological advancements and innovations in the field of zero friction coatings, and how are they impacting the market?
- What are the major challenges faced by the market players in the global zero friction coatings market, and how are they addressing them?
- What are the regulatory frameworks and standards governing the use of zero friction coatings, and how are they impacting the market?
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