The global market for Friction Products and Materials is estimated at US$29.9 Billion in 2023 and is projected to reach US$43.6 Billion by 2030, growing at a CAGR of 5.5% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
The growth in the friction products and materials market is driven by several factors, including advancements in material science, increasing demand for high-performance braking systems, and the growth of industrial machinery and automotive sectors. Technological innovations in friction materials and manufacturing processes are enhancing the performance and reliability of friction products. The expansion of the automotive and aerospace industries, with their stringent safety and performance requirements, is a significant driver of market growth.
The focus on sustainability and the development of eco-friendly friction materials are also propelling market growth. Additionally, the rising demand for reliable and durable friction components in industrial machinery is contributing to the market's expansion. These factors collectively ensure robust growth in the friction products and materials market.
The growth in the friction products and materials market is driven by several factors, including advancements in material science, increasing demand for high-performance braking systems, and the growth of industrial machinery and automotive sectors. Technological innovations in friction materials and manufacturing processes are enhancing the performance and reliability of friction products. The expansion of the automotive and aerospace industries, with their stringent safety and performance requirements, is a significant driver of market growth.
The focus on sustainability and the development of eco-friendly friction materials are also propelling market growth. Additionally, the rising demand for reliable and durable friction components in industrial machinery is contributing to the market's expansion. These factors collectively ensure robust growth in the friction products and materials market.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Other End-Uses segment, which is expected to reach US$4.7 Billion by 2030 with a CAGR of a 3.4%. The Automotive End-Use segment is also set to grow at 6.6% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $5.9 Billion in 2023, and China, forecasted to grow at an impressive 9.3% CAGR to reach $11.3 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Why You Should Buy This Report:
- Detailed Market Analysis: Access a thorough analysis of the Global Friction Products and Materials Market, covering all major geographic regions and market segments.
- Competitive Insights: Get an overview of the competitive landscape, including the market presence of major players across different geographies.
- Future Trends and Drivers: Understand the key trends and drivers shaping the future of the Global Friction Products and Materials Market.
- Actionable Insights: Benefit from actionable insights that can help you identify new revenue opportunities and make strategic business decisions.
Key Questions Answered:
- How is the Global Friction Products and Materials Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Akebono Brake Industry Co., Ltd., Brembo SpA, Carlisle Brake & Friction (CBF), and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Select Competitors (Total 169 Featured):
- Akebono Brake Industry Co., Ltd.
- Brembo SpA
- Carlisle Brake & Friction (CBF)
- EBC Brakes
- Fras-le S.A.
- GMP Friction Products
- Hindustan Composites Ltd.
- ITT Inc.
- Japan Brake Industrial Co. Ltd
- Miba AG
- Nisshinbo Holdings Inc.
- Tenneco Inc.
Table of Contents
I. METHODOLOGYII. EXECUTIVE SUMMARY2. FOCUS ON SELECT PLAYERSIII. MARKET ANALYSISCANADAFRANCEGERMANYITALYUNITED KINGDOMSPAINRUSSIAREST OF EUROPEAUSTRALIAINDIASOUTH KOREAREST OF ASIA-PACIFICLATIN AMERICAARGENTINABRAZILMEXICOREST OF LATIN AMERICAMIDDLE EASTAFRICAIV. COMPETITION
1. MARKET OVERVIEW
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
UNITED STATES
JAPAN
CHINA
EUROPE
ASIA-PACIFIC
Companies Mentioned
- Akebono Brake Industry Co., Ltd.
- Brembo SpA
- Carlisle Brake & Friction (CBF)
- EBC Brakes
- Fras-le S.A.
- GMP Friction Products
- Hindustan Composites Ltd.
- ITT Inc.
- Japan Brake Industrial Co. Ltd
- Miba AG
- Nisshinbo Holdings Inc.
- Tenneco Inc.
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 510 |
| Published | November 2024 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value ( USD | $ 29.9 Billion |
| Forecasted Market Value ( USD | $ 43.6 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
| No. of Companies Mentioned | 12 |
