Product Code: CH 6654
"The friction materials market size is projected to reach USD 57.04 million by 2023, at a CAGR of 5.0%."
The friction materials market size is projected to grow from USD 44.65 million in 2018 to USD 57.04 million by 2023, at a CAGR of 5.0%. The market is driven by rising demand for passenger and commercial vehicles, which leads to the growth of friction materials consumption in auto components. However, lack of friction materials market development across end-use industries in the Middle East & Africa region may restrain the growth of the market.
"Pads product segment is projected to lead the friction materials market during the forecast period."
Based on product, the pads segment is projected to lead the overall friction materials market from 2018 to 2023. Pads are used in brake systems and are exposed to significant friction, which leads to wear and tear. Friction pads are less prone to release dust on abrasion and can withstand high temperature.
"Friction materials market is projected to witness highest CAGR in brakes application during the forecast period."
The market for friction materials projected to witness the highest CAGR in the brakes application segment between 2018 and 2023. Brake systems are essential to decelerate or control acceleration of vehicle or machinery. The high demand for friction brakes from end-use industries such as automotive and railway is driving the growth in brakes application segment.
"Asia Pacific friction materials market is projected to witness the highest growth during the forecast period."
The Asia Pacific friction materials market is projected to witness the highest growth between 2018 and 2023. Emerging economies such as China and India are high-growth markets for automotive, railway, and construction industries, which are the major consumers of friction materials in the region. In addition, the economic growth of these countries and increased consumers spending on automobiles have led to the development of a major auto components market in the region. All these factors are expected to drive the growth of the Asia Pacific friction materials market during the forecast period.
Breakdown of Profiles of Primary Participants:
- By Company Type: Tier 1 - 20%, Tier 2 - 36%, and Tier 3 - 44%
- By Designation: Director-Level - 12%, C-Level - 40%, and Others - 48%
- By Region: Asia Pacific - 36%, Europe - 24%, North America - 20%, South America -12%, and Middle East & Africa - 8%
Major companies profiled in this report include: Akebono Brake Industry (Japan), Federal-Mogul Holdings (US), Miba (Austria), Fras-Le (Brazil), Nisshinbo Holdings (Japan), Aisin Seiki (Japan), Valeo Friction Materials India (India), Yantai Hi-Pad Brake Technology (China), and Carlisle Brake & Friction (US), among others.
Research Coverage:
This report offers an overview of the trends, drivers, restraints, challenges, and opportunities with respect to the friction materials market. It also provides a detailed overview of the friction materials market across 5 regions, namely, Asia Pacific, Europe, North America, the Middle East & Africa, and South America. The report categorizes the friction materials market based on product, business type, application, and end-use industry. A detailed analysis of the leading players of the friction materials market, along with key growth strategies adopted by them, is also covered in the report.
Reasons to Buy the Report:
This report covers the following key aspects:
- Size of the friction materials market by 2023 and its CAGR during the forecast period from 2018 to 2023
- Key trends in the friction materials market
- Factors expected to drive the growth of the friction materials market during the forecast period
- Challenges expected to impact the growth of the friction materials market during the forecast period
- Key players operating in the friction materials market
TABLE OF CONTENTS
1. INTRODUCTION
- 1.1. OBJECTIVES OF THE STUDY
- 1.2. MARKET DEFINITION
- 1.3. MARKET SCOPE
- 1.3.1. YEARS CONSIDERED FOR THE STUDY
- 1.4. CURRENCY
- 1.5. STAKEHOLDERS
- 1.6. LIMITATIONS
2. RESEARCH METHODOLOGY
- 2.1. RESEARCH DATA
- 2.1.1. SECONDARY DATA
- 2.1.1.1. Key data from secondary sources
- 2.1.2. PRIMARY DATA
- 2.1.2.1. Key data from primary sources
- 2.1.2.2. Key industry insights
- 2.1.2.3. Breakdown of primary interviews
- 2.2. MARKET SIZE ESTIMATION
- 2.2.1. TOP-DOWN APPROACH
- 2.2.2. BOTTOM-UP APPROACH
- 2.3. DATA TRIANGULATION
- 2.4. ASSUMPTIONS
3. EXECUTIVE SUMMARY
4. PREMIUM INSIGHTS
- 4.1. ATTRACTIVE GROWTH OPPORTUNITIES IN THE FRICTION MATERIALS MARKET
- 4.2. FRICTION MATERIALS MARKET, BY REGION
- 4.3. FRICTION MATERIALS MARKET, BY PRODUCT AND END-USE INDUSTRY
- 4.4. FRICTION MATERIALS MARKET, BY COUNTRY
- 4.5. FRICTION MATERIALS MARKET, BY END-USE INDUSTRY AND REGION
5. MARKET OVERVIEW
- 5.1. INTRODUCTION
- 5.2. MARKET DYNAMICS
- 5.2.1. DRIVERS
- 5.2.1.1. Upsurge in worldwide demand for passenger and commercial vehicles
- 5.2.2. RESTRAINTS
- 5.2.2.1. Underdeveloped friction materials market in Middle East & Africa region in automotive end-use industry
- 5.2.3. OPPORTUNITIES
- 5.2.3.1. Demand for lightweight friction products in automotive end-use industry
- 5.2.4. CHALLENGES
- 5.2.4.1. Advancements in braking technologies to eradicate the use of friction materials
- 5.3. PORTER'S FIVE FORCES ANALYSIS
- 5.3.1. THREAT OF NEW ENTRANTS
- 5.3.2. THREAT OF SUBSTITUTES
- 5.3.3. BARGAINING POWER OF SUPPLIERS
- 5.3.4. BARGAINING POWER OF BUYERS
- 5.3.5. INTENSITY OF COMPETITIVE RIVALRY
- 5.4. VALUE CHAIN ANALYSIS
- 5.5. FRICTION MATERIALS: MATERIAL OVERVIEW
- 5.5.1. NON-ASBESTOS ORGANIC (NAO)
- 5.5.2. LOW STEEL
- 5.5.3. SEMI-METALLIC
- 5.5.4. SINTERED METALS
- 5.5.5. CERAMIC
- 5.5.6. ASBESTOS
- 5.5.7. OTHERS (ARAMID FIBER, GLASS FIBER, CARBON FIBER, RUBBER, PAPER, ETC.)
- 5.6. MACROECONOMIC INDICATOR
- 5.6.1. AUTOMOTIVE
- 5.6.2. CONSTRUCTION
6. FRICTION MATERIALS MARKET, BY PRODUCT
- 6.1. INTRODUCTION
- 6.2. PADS
- 6.3. LINING
- 6.4. DISCS
- 6.5. BLOCKS
- 6.6. OTHERS
7. FRICTION MATERIALS MARKET, BY BUSINESS TYPE
- 7.1. INTRODUCTION
- 7.2. ORIGINAL EQUIPMENT (OE)
- 7.3. AFTERSALES
8. FRICTION MATERIALS MARKET, BY APPLICATION
- 8.1. INTRODUCTION
- 8.2. BRAKES
- 8.3. CLUTCHES
- 8.4. INDUSTRIAL BRAKE & TRANSMISSION SYSTEMS
9. FRICTION MATERIALS MARKET, BY END-USE INDUSTRY
- 9.1. INTRODUCTION
- 9.2. AUTOMOTIVE
- 9.3. RAILWAY
- 9.4. CONSTRUCTION
- 9.5. AEROSPACE & MARINE
- 9.6. OTHERS
10. REGIONAL ANALYSIS
- 10.1. INTRODUCTION
- 10.2. NORTH AMERICA
- 10.2.1. US
- 10.2.2. MEXICO
- 10.2.3. CANADA
- 10.3. ASIA PACIFIC
- 10.3.1. CHINA
- 10.3.2. JAPAN
- 10.3.3. INDIA
- 10.3.4. SOUTH KOREA
- 10.3.5. THAILAND
- 10.3.6. REST OF ASIA PACIFIC
- 10.4. EUROPE
- 10.4.1. GERMANY
- 10.4.2. FRANCE
- 10.4.3. UK
- 10.4.4. SPAIN
- 10.4.5. ITALY
- 10.4.6. BELGIUM
- 10.4.7. NETHERLANDS
- 10.4.8. REST OF EUROPE
- 10.5. SOUTH AMERICA
- 10.5.1. BRAZIL
- 10.5.2. ARGENTINA
- 10.5.3. REST OF SOUTH AMERICA
- 10.6. MIDDLE EAST & AFRICA
- 10.6.1. SOUTH AFRICA
- 10.6.2. IRAN
- 10.6.3. EGYPT
- 10.6.4. REST OF MIDDLE EAST & AFRICA
11. COMPETITIVE LANDSCAPE
- 11.1. OVERVIEW
- 11.2. RANKING OF KEY MARKET PLAYERS
- 11.3. COMPETITIVE SCENARIO
- 11.3.1. NEW PRODUCT DEVELOPMENT
- 11.3.2. EXPANSIONS
- 11.3.3. ACQUISITIONS
- 11.3.4. PARTNERSHIPS/AGREEMENTS/CONTRACTS/JOINT VENTURE
12. COMPANY PROFILES (Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View)*
- 12.1. AKEBONO BRAKE INDUSTRY
- 12.2. FEDERAL-MOGUL HOLDINGS
- 12.3. FRAS-LE
- 12.4. NISSHINBO HOLDINGS
- 12.5. AISIN SEIKI
- 12.6. ITT INC.
- 12.7. MIBA AG
- 12.8. VALEO FRICTION MATERIALS INDIA PRIVATE LIMITED
- 12.9. CARLISLE BRAKE & FRICTION (CBF)
- 12.10. YANTAI HI-PAD BRAKE TECHNOLOGY
*Details on Business Overview, Products Offered, Recent Developments, SWOT Analysis, MnM View might not be captured in case of unlisted companies.
13. APPENDIX
- 13.1. INSIGHTS FROM INDUSTRY EXPERTS
- 13.2. DISCUSSION GUIDE
- 13.3. KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
- 13.4. AVAILABLE CUSTOMIZATIONS
- 13.5. RELATED REPORTS
- 13.6. AUTHOR DETAILS
