Friction Materials Market, by Product Type (Pads, Linings, Discs, Blocks, and Others), Business Type (OE and Aftermarket), Application Type (Brakes, Clutches, and Industrial Brake & Transmission Systems), End-use Industry Type (Railway, Automotive, Construction, Aerospace & Marine and Others), and Region (North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Russia, and Rest of Europe], Asia-Pacific [China, Japan, South Korea, India, and Rest of Asia-Pacific], and Rest of the World [Brazil, Saudi Arabia, and Others]).
Friction Materials Market, by Product Type (Pads, Linings, Discs, Blocks, and Others), Business Type (OE and Aftermarket), Application Type (Brakes, Clutches, and Industrial Brake & Transmission Systems), End-use Industry Type ...
"The global friction materials market is likely to grow at a promising CAGR of 5% in the long run to reach US$ 57 Million by 2028.
The friction material is used to increase or decrease friction, as well as to slow or halt the system. The friction material is mostly used in the braking system, more specifically in the brake linings and pads. The friction material is used to provide friction in situations where slow or restricted movement is required. Friction is the force that is a resistor between two contacts to keep items from moving. All three substance types—liquid, solid, and gas—can cause friction. Liquid friction is the term for friction that occurs between fluids.
The growth factor for the global market for friction materials is the increasing demand for automobiles, which increases the demand for various components. Additionally, friction materials have demonstrated their capacity to withstand high temperatures as well as wear and tear, and these qualities are anticipated to support rising product demand as well as the expansion of the friction materials market in the coming years. In the upcoming years, it is projected that rising demand for electric vehicles in developed nations' top economies will drive the expansion of the global market for friction materials. Future improvements to friction materials could support product demand for various applications and support the global market for friction materials.
Segments Analysis
Segmentations
List of Sub-Segments
Dominant and Fastest-Growing Segments
Product-Type Analysis
Pads, Linings, Discs, Blocks, and Others.
Pads are projected to witness the highest CAGR during the forecast period.
Business-Type Analysis
OE and Aftermarket
Aftermarket is expected to lead the friction material market due to increased demand for replacement friction products, particularly in the automotive industry.
Application-Type Analysis
Brakes, Clutches, and Industrial Brakes & Transmission Systems.
Brakes Systems is anticipated to remain the biggest demand generator for the friction materials market in the years to come.
End-Use Industry
Railway, Automotive, Construction, Aerospace & Marine, and Others.
Automotive is expected to be the dominant end-use industry in the friction materials market in the coming years.
Regional Analysis
North America, Europe, Asia-Pacific, and The Rest of the World
Asia-Pacific is expected to remain the largest market over the next five years.
Product Trends
"The pads segment accounted for the largest market share."
Based on the product type, the friction materials market is segmented into pads, linings, discs, blocks, and others, Pads are expected to remain the largest product typein the market during the forecast period. Brake systems require pads, which are subjected to a great deal of friction, which causes wear and strain. Friction pads can endure high temperatures and are less likely to produce dust upon abrasion.
Business Trends
"The aftermarket segment accounted for the largest market share."
Based on the business type, the market is segmented into OE and aftermarket. The aftermarket type is expected to lead the overall friction materials market. The rising demand for replacement friction goods, notably in the automobile industry, is responsible for this market segment's expansion.
Application Trends
"The brakessegment accounted for the largest market share."
Based on the application type, the market is segmented into brakes, clutches, and industrial brakes & transmission systems. Brakes are expected to remain the dominant as well as the fastest-growing application in the market during the forecast period. Vehicles and machines need brake systems to slow down or control acceleration. The expansion of the friction materials market in the brakes application sector is being driven by the high demand for friction brakes from end-use industries like automotive and railroad.
End-Use Industry Trends
"The automotivesegment accounted for the largest market share."
Based on the end-use industry type, the market is segmented into railway, automotive, construction, aerospace & marine, and others. Automotive is expected to remain the dominant as well as the fastest-growing end-use industry in the market during the forecast period. In automotive applications like brakes and clutches, friction materials are commonly employed. Products utilized in friction, including pads, linings, discs, and blocks, are consumable parts that are both original equipment and aftermarket parts. Due to their susceptibility to wear and tear, these friction products are in high demand in the automobile industry. Therefore, the market for friction materials in the automotive end-use industry is growing as a result of the growth in automotive friction components.
Regional Insights
"Asia-Pacificaccounted for the largest market share."
In terms of regions, Asia-Pacific is expected to remain the largest market for friction materials during the forecast period. The region's market for friction materials is expanding due to the region's dense population and growing preference for personal vehicles in nations like China, India, and South Korea.
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Key questions this report answers
Relevant contents in the report
How big is the sales opportunity?
In-depth analysis of the Friction Materials Market
How lucrative is the future?
Market forecast and trend data and emerging trends
Which regions offer the best sales opportunities?
Global, regional and country level historical data and forecasts
Which are the most attractive market segments?
Market segment analysis and forecast
Which are the top players and their market positioning?
Porter’s five forces analysis, PEST analysis, Life cycle analysis
What are the factors affecting the market?
Drivers & challenges
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10% free customization
The friction materials marketis segmented into the following categories-
By Product Type
Pads
Linings
Discs
Blocks
Others
By BusinessType
OE
Aftermarket
By Application Type
Brakes
Clutches
Brakes & Transmission Systems
By End-Use Industry Type
Automotive
Railways
Construction
Aerospace & Marine
Others
By Region
North America (Country Analysis: TheUSA, Canada, and Mexico)
Europe (Country Analysis: Germany, France, The UK, Russia, andThe Rest of Europe)
Asia-Pacific (Country Analysis: Japan, China, India, and The Rest of Asia-Pacific)
Rest of the World (Country Analysis: Brazil, Saudi Arabia, and Others)
Research Methodology
This strategic assessment report from Stratview Research provides a comprehensive analysis that reflects today’s friction materials market realities and future market possibilities for the forecast period. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
Detailed profiling of additional market players (up to three players)
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Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances
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The friction material is used to increase or decrease friction, as well as to slow or halt the system. The friction material is mostly used in the braking system, more specifically in the brake linings and pads. The friction material is used to provide friction in situations where slow or restricted movement is required. Friction is the force that is a resistor between two contacts to keep items from moving. All three substance types—liquid, solid, and gas—can cause friction. Liquid friction is the term for friction that occurs between fluids.
The friction materials market is estimated to grow at a CAGR of 5.0% by 2028, driven by increasing demand for friction materials in the automotive industry.
Asia Pacific is estimated to remain dominant in the friction materials market in the foreseeable future. The key economies driving the region’s demand for friction materials are China, India, and Japan.
Akebono Brake Industry, Federal-Mogul Holdings, Fras-Le, Nisshinbo Holdings, and Aisin Seikiare are the leading players in the friction materials market.