Global Friction Materials Market, 2023 by Product (Pads, Linings, Discs, Blocks), Business (OE and Aftersales), Application (Brakes, Clutches), End-use Industry (Automotive, Railway, Construction)

Dublin, Oct. 11, 2018 (GLOBE NEWSWIRE) -- The "Friction Materials Market by Product (Pads, Linings, Discs, Blocks), Business Type (OE and Aftersales), Application (Brakes, Clutches), End-use Industry (Automotive, Railway, Construction), and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.

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.

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.

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.

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.

Key Topics Covered:

1 Introduction

2 Research Methodology

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
5.4 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
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

For more information about this report visit https://www.researchandmarkets.com/research/xwhckb/global_friction?w=12

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                    Related Topics: Brake Systems and Components