Global Friction Materials Market Size, Research Report, Key Driving Factors & Forecast Period till 2027

 

Global Friction Materials Market

Friction materials are extremely used in the manufacturing of brakes, plates, pads, clutches and others and find widespread usage in cars, automobiles, railways and heavy machinery for use in industries. Friction occurs between every one of the three types of materials solid, liquid, and gas. These materials are utilized to upgrade the execution of vehicles, their appearance, and efficiency.

The increase in advancements in braking technologies is considered as key driving factor which expected to hamper the global friction materials market growth during this forecast period. Furthermore, the rise in adoption of commercial and passenger vehicles will positively influence the market growth. The growing automobile industry and railway sector are expected to drive the global friction materials market growth.

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Growing applications in the automobile and railway sector are one the driving factors which have propelled the market growth. The automobile industry is the fastest growing industries across the world. Moreover, the increase in demand for lightweight friction products in automotive end use industry will support the market growth in near future.

Strict government rules and regulations are expected to hamper the global friction materials market growth over the forecast period. Also, underdeveloped friction materials market in MEA region in automotive end-use industry may limit the market growth in this region. 

Market Segmentation

The Global Friction Materials Market is segmented into product type such as Linings, Discs, Blocks, and Pads, by business type such as Original Equipment, Aftersales, and Others, by application such as Brakes, Clutches, and Others. Further, market is segmented into end user such as Automotive, Railway, Construction, and Others.  

Also, the Global Friction Materials Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.

Market Key Players

Various key players are discussed in this report such as Akebono Brake Industry, Yantai Hi-Pad Brake Technology, Carlisle Brake & Friction, Valeo Friction Materials India Private Limited, MIBA AG, Itt Inc.,  Aisin Seiki, Nisshinbo Holdings, Fras-Le Federal-Mogul Holdings, etc.

Market Taxonomy

By Product Type

·         Linings

·         Discs

·         Blocks

·         Pads

 By Business Type

·         Original

·         Equipment

·         Aftersales

·         Others 

By Application

·         Brakes

·         Clutches

·         Others

By End User

·         Automotive

·         Railway

·         Construction

·         Others

By Region

·         North America

·         Latin America

·         Europe

·         Asia Pacific

·         Middle East & Africa

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QualiKet Research is a leading Market Research and Competitive Intelligence partner helping leaders across the world to develop robust strategy and stay ahead for evolution by providing actionable insights about ever changing market scenario, competition and customers. QualiKet Research is dedicated to enhancing the ability of faster decision making by providing timely and scalable intelligence. We use different intelligence tools to come up with evidence that showcases the threats and opportunities which help our clients outperform their competition.

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