Friction Materials Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET INTRODUCTION

The friction material is used to induce friction in situations where slow or decreased movement is necessary. Friction is the resistive power among two contacts that prevent the objects from sliding. Friction happens between every one of the three types of materials liquid, solid, and gas. Liquid friction is the friction between fluids. Friction materials are utilized to upgrade the execution of vehicles, their appearance, and efficiency. A major area of application of friction products and materials is aircraft, passenger cars, railways, trucks, commercial vehicles, and other modern applications.

MARKET DYNAMICS

The friction materials market has witnessed significant growth due to advancements in braking technologies. Moreover, the surging demand for commercial and passenger vehicles has prompted the rise in the utilization of automobile parts provide a huge market opportunity for the key players operating in the friction materials market. However, strict government regulations are projected to hamper the overall growth of the friction materials market.

MARKET SCOPE

The "Global Friction Materials Market Analysis to 2031 is a specialized and in-depth study of the chemical and materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the friction materials market with detailed market segmentation product, business type, application, end user, and geography. The global friction materials market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading friction materials market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global friction materials market is segmented on the basis of product, business type, application and end user. On the basis of product, the global friction materials market is divided into pads, linings, discs, and blocks. On the basis of businesss type, the market is divided into OE and aftersales. On the basis of application, the global friction materials market is divided into brakes and clutches. On the basis of end user, the market is divided into automotive, railway, and construction.

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global friction materials market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The friction materials market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the friction materials market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the friction materials market in these regions.

MARKET PLAYERS

The reports cover key developments in the friction materials market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from friction materials market is anticipated to lucrative growth opportunities in the future with the rising demand for friction materials in the global market. Below mentioned is the list of few companies engaged in the friction materials market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the friction materials market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   ADVICS Co., Ltd.
  
•   Aisin Seiki
  
•   Akebono Brake Industry Co., Ltd.
  
•   Carlisle Brake & Friction
  
•   Federal-Mogul Corporation,
  
•   Fras-le S A
  
•   Honeywell Corporation
  
•   MIBA AG
  
•   Nisshinbo Brake Inc.
  
•   Valeo Friction Materials India Private Limited
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Friction Materials Report Scope