Friction Products and Materials Market: Introduction
- Friction
products and materials are used to create friction in a variety of
circumstances requiring decreased or slow movement. Friction is a type of
resistance that tries to stop objects from moving. The usage of friction
products and materials by a wide range of industries and continuous
investment in research and development is expected to fuel the market. The
market
for friction products and materials is expected to show
significant growth during the forecast period.
Key Drivers and Opportunities of the Global Friction
Products and Materials Market
- Friction
products and materials, including friction pads and linings, disc brakes,
and blocks, are consumable components utilized as both original equipment
and aftermarket parts. Because they are prone to wear and tear, these
friction goods are in great demand across a wide range of industries,
particularly the automotive industry. As a result, the friction products and
materials market is anticipated to expand throughout the forecast period,
more so, with the expansion of the automotive industry, which
is expected to fuel the market even further.
- Manufacturers
are focusing on launching new friction products as well as continuously
investing in research and development as part of their business strategy
to gain a stronger foothold in the friction products and materials market
during the forecast period. Moreover, manufacturers are targeting other
end-use industries apart from automotive in order to increase their
revenue and market share during the forecast period.
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- Countries
have their own set of regulations and standards for friction products and
materials, such as the Environmental Protection Agency's regulations in
the United States, the European Union's requirements for industrial
components and products, and so on. This is projected to obstruct the
global friction products and materials market during the forecast period,
since it discourages businesses from entering regulated geographies
because it is likely to increase their entire production cost while
manufacturing products based on set regulations and standards.
Asia Pacific to Hold Major Share of the Global Friction
Products and Materials Market
- In
terms of region, the friction products and materials market can be divided
into North America, Europe, Asia Pacific, Middle East & Africa, and
South America.
- Asia
Pacific is expected to hold major share of the global friction products
and materials market during the forecast period. The region is known to be
the manufacturing hub for automobiles, industrial machinery, automotive
industries, and many other sectors. The major application and use of
friction products and materials are in the above mentioned categories.
Moreover, continuous investment in end-use industries by governments is
further expected to fuel the demand for friction products and materials.
Key Players Operating in the Global Friction Products and
Materials Market are Listed Below:
- ABS
Friction Corporation
- Aisin
Corporation
- Akebono
Brake Industry Co., Ltd.
- Carlisle
Brake & Friction, Inc.
- European
Friction Industries Ltd.
- Fras-le
S.A.
- Hindustan
Composites Ltd.
- Nisshinbo
Holdings Inc.
- Valeo
Friction Materials India Private Ltd.
- Yantai
Hi-Pad Brake Technology Co. Ltd.
Global Friction Products and Materials Market: Research
Scope
Global Friction Products and Materials Market, by
Products with Friction Material
- Brake
Blocks
- Brake
Shoes
- Friction
Discs
- Clutch
Discs
- Clutch
Facings
- Others
(Brake Linings, Brake Pads, etc.)
Global Friction Products and Materials Market, by
Business Type
- OEM
(Original Equipment Manufacturer)
- Aftermarket
Global Friction Products and Materials Market, by
Application
- Clutch
and Brake Systems
- Operating
Systems
- Automotive
Equipment
- Others
(Industrial Machinery, Gear Tooth Systems, etc.)
Global Friction Products and Materials Market, by End-use
Industry
- Construction
- Automotive
- Oil
and Gas
- Manufacturing
- Others
(Forestry, Mining, etc.)
Global Friction Products and Materials Market, by Price
- Low
- Medium
- High
Global Friction Products and Materials Market, by
Distribution Channel
- Direct
Sales
- Indirect
Sales
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