Global Friction Products Market Size, Share, Growth & Trends Analysis Report Product By Type (Brake Disc, Pad, Drum, Shoe) By Application (Automotive, Railway, Construction) And Regional Outlook, Growth Potential & Forecast, 2024 – 2030

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Description

Global Friction Products Market Size was worth USD 58 Million in 2023 and it is expected to grow to USD 86.4 Million in 2030 with a CAGR of 5.20 % in the 2023-2030 period.

Global Friction Products Market: Overview

The global friction products market refers to the market for products that create frictional force, typically in the context of automotive, industrial, and other heavy machinery applications. Friction products are commonly used in brake systems, clutches, and transmissions to control the speed and movement of machinery. The market is driven by the increasing demand for vehicles, particularly in emerging economies, and the need for advanced and reliable friction materials to improve safety and performance.

The friction products market includes a wide range of products, including brake pads, brake shoes, brake linings, and clutch facings, among others. These products are made from a variety of materials, including asbestos, ceramics, organic and metallic compounds, and other composite materials.

The market is highly competitive, with several large multinational corporations dominating the industry. These companies invest heavily in research and development to improve product quality, safety, and durability. They also maintain global distribution networks and supply chains to ensure the efficient delivery of products and services to customers worldwide.

The growth of the friction products market is closely tied to the overall health of the automotive and industrial sectors, which are driven by factors such as consumer demand, economic conditions, and government regulations. In recent years, the market has been influenced by the growing emphasis on sustainability and the development of eco-friendly friction materials that reduce harmful emissions and improve energy efficiency.

Overall, the global friction products market is expected to continue to grow in the coming years, driven by increasing demand for vehicles and machinery, ongoing technological advancements, and rising awareness of safety and environmental concerns.

Global Friction Products Market: Covid-19 Impact

The global friction products market has been significantly impacted by the COVID-19 pandemic. The pandemic has disrupted supply chains, decreased demand for automobiles, and caused temporary shutdowns of manufacturing plants, leading to a decline in the production and sales of friction products. The pandemic has also caused a significant drop in consumer demand for aftermarket products, as people have reduced travel and are using their vehicles less frequently.

The automotive sector, which is a major user of friction products, has been particularly affected by the pandemic. Production of automobiles and other vehicles has been disrupted, leading to reduced demand for friction products such as brake pads and clutch facings. In addition, the shutdown of automotive plants has resulted in reduced demand for original equipment manufacturers (OEMs) and aftermarket products.

However, as the pandemic eases and economies reopen, the demand for friction products is expected to recover. The growth of e-commerce and the increasing demand for online sales are expected to provide new opportunities for friction products in the aftermarket. In addition, the demand for eco-friendly friction materials is expected to increase as consumers and governments emphasize sustainability and environmental concerns.

Overall, while the COVID-19 pandemic has had a significant impact on the global friction products market, the market is expected to recover and grow in the coming years, driven by the ongoing demand for vehicles and machinery, technological advancements, and the increasing focus on safety and sustainability.

Global Friction Products Market: Growth Drivers

  • Increasing demand for vehicles:

 The increasing demand for vehicles, particularly in emerging economies, is a significant driver of growth in the friction products market. As the number of vehicles on the road increases, the demand for reliable and high-performance friction materials, such as brake pads, brake linings, and clutch facings, also increases.

  • Technological advancements:

 The ongoing advancements in technology are driving innovation in the friction products market. The development of new materials, such as ceramic and metallic compounds, is improving the quality and durability of friction products, while the integration of smart technologies, such as sensors and artificial intelligence, is improving the safety and performance of friction systems.

  • Increasing emphasis on safety:

The increasing emphasis on safety in the automotive and industrial sectors is driving demand for high-performance friction products. As governments and consumers prioritize safety, manufacturers are investing in research and development to create friction materials that offer better-stopping power, shorter braking distances, and improved control of machinery.

  • Growing focus on sustainability:

The growing focus on sustainability and environmental concerns is driving the development of eco-friendly friction materials that reduce harmful emissions and improve energy efficiency.

Global Friction Products Market: Restraining factors

  • Regulatory compliance:

The friction products industry is heavily regulated, particularly when it comes to the use of certain materials such as asbestos. Compliance with these regulations can be expensive and time-consuming for manufacturers, which can limit their ability to innovate and develop new products.

  • Volatility in raw material prices:

The prices of raw materials used in friction products, such as metals, ceramics, and organic compounds, can be volatile and subject to sudden fluctuations. These price fluctuations can impact the profitability of manufacturers and lead to increased costs for consumers.

  • Intense competition:

The friction products market is highly competitive, with several large multinational corporations dominating the industry. The intense competition can make it difficult for smaller companies to enter the market or gain market share.

  • Economic conditions:

The friction products market is closely tied to the overall health of the automotive and industrial sectors, which are in turn impacted by economic conditions such as recessions, trade disputes, and geopolitical instability. In periods of economic uncertainty, consumer demand for vehicles and heavy machinery can decline, leading to decreased demand for friction products.

Global Friction Products Market: Opportunity factors

  • Growing demand for eco-friendly products:

 The increasing focus on sustainability and environmental concerns presents an opportunity for manufacturers to develop eco-friendly friction products that reduce harmful emissions and improve energy efficiency. The development of new materials and technologies, such as regenerative braking systems, can help meet this demand.

  • Increasing demand for electric and hybrid vehicles:

As the automotive industry shifts towards electric and hybrid vehicles, the demand for new types of friction products, such as regenerative braking systems and high-temperature materials, is expected to increase. This presents an opportunity for manufacturers to innovate and develop new types of friction materials that are specifically designed for these new types of vehicles.

  • Growth in industrial and construction sectors:

The growth of the industrial and construction sectors, particularly in emerging economies, presents an opportunity for manufacturers to expand their markets and develop new products. As the demand for heavy machinery and equipment increases, the demand for high-performance friction materials also increases.

  • Development of new materials and technologies:

The ongoing advancements in technology and materials science present an opportunity for manufacturers to innovate and develop new types of friction materials that offer improved performance and durability. For example, the development of new materials such as carbon-fiber-reinforced polymers and ceramic composites is expected to lead to the development of new types of friction products that offer improved performance and durability.

Global Friction Products Market: Challenges

  • Impact of COVID-19 pandemic:

The COVID-19 pandemic has had a significant impact on the global economy, including the friction products market. The disruption of supply chains decreased demand for automobiles and heavy machinery, and economic uncertainty has all impacted the market.

  • The volatility of raw material prices:

The prices of raw materials used in friction products can be volatile and subject to sudden fluctuations. Manufacturers must be able to manage the risks associated with these price fluctuations, such as by hedging against price volatility or developing alternative materials.

  • Intense competition:

The friction products market is highly competitive, with several large multinational corporations dominating the industry. The intense competition can make it difficult for smaller companies to enter the market or gain market share.

  • Regulatory compliance:

The friction products industry is heavily regulated, particularly when it comes to the use of certain materials such as asbestos. Compliance with these regulations can be expensive and time-consuming for manufacturers, which can limit their ability to innovate and develop new products.

Global Friction Products Market: Segmentation

By type, the market is segmented into brake discs, pads, drums, and shoes.

By application, the market is segmented into automotive, railway, and construction.

Global Friction Products Market: Regional Insights

North America is a major market for friction products due to its large automotive and industrial sectors. The United States is the largest market in the region, with a strong presence of major players such as Federal-Mogul and Honeywell International. The shift towards electric and hybrid vehicles is expected to impact the market in the coming years, as well as the growing demand for high-performance materials.

Europe is another significant market for friction products, with major players such as Brembo, TMD Friction, and Akebono dominating the market. The region has stringent regulations on the use of hazardous materials in friction products, which is driving the development of eco-friendly materials and technologies. The shift towards electric and hybrid vehicles is also expected to impact the market in the coming years.

The Asia Pacific region is expected to experience significant growth in the friction products market due to the growing demand for automobiles and industrial machinery. China is the largest market in the region, with major players such as Federal-Mogul, Nisshinbo Holdings, and Japan Brake Industrial. The region is also seeing an increasing demand for eco-friendly materials and technologies, as well as a shift towards electric and hybrid vehicles.

Latin America is a smaller market for friction products, but it is expected to experience moderate growth in the coming years due to the growing demand for automobiles and industrial machinery. Brazil is the largest market in the region, with major players such as TMD Friction and Federal-Mogul.

The Middle East and Africa region is a relatively small market for friction products, but it is expected to experience moderate growth in the coming years due to the growing demand for automobiles and industrial machinery. South Africa is the largest market in the region, with major players such as Federal-Mogul and Brembo.

Global Friction Products Market: Competitive Analysis

Akebono Brake, Nisshinbo, Bosch, Continental, GMP Friction Products, Tenneco, Shandong Longji, BorgWarner, Brembo S.p.A., Aisin Seiki Co., Ltd.

Global Friction Products Market: Recent Developments

  • Akebono Brake: In August 2021, Akebono Brake announced the launch of its new “SafeCorner” braking system for electric vehicles. The system is designed to provide stable and safe braking performance, even in wet or slippery conditions.
  • Nisshinbo: In May 2021, Nisshinbo announced a new research project to develop friction materials for regenerative braking systems in electric vehicles. The project aims to reduce noise and vibration from regenerative braking systems, which can be a challenge for electric vehicles.
  • Bosch: In February 2021, Bosch announced a new brake pad product line that is free of copper and other heavy metals. The product line is designed to comply with emerging regulations in the EU and other regions that restrict the use of heavy metals in brake pads.
  • Continental: In September 2021, Continental announced the launch of a new brake pad product line for electric vehicles. The product line is designed to provide optimized performance and reduced wear for electric and hybrid vehicles.
  • GMP Friction Products: In August 2021, GMP Friction Products announced the acquisition of REIBER Kupplungen GmbH, a leading manufacturer of clutch systems and components. The acquisition is part of GMP’s strategy to expand its product portfolio and strengthen its position in the friction products market.
  • Tenneco: In April 2021, Tenneco announced the launch of a new line of “Clean Line” brake pads that are free of copper and other heavy metals. The product line is designed to comply with emerging regulations in the EU and other regions that restrict the use of heavy metals in brake pads.

Table of Content

1. Introduction
1.1. Market Definition
1.2. Market Scope
2. Research Methodology
2.1. Primary Research
2.2. Secondary Sources
2.3. Assumptions & Exclusions
3. Market Overview
3.1. Market Overview
3.2. Research Report Segmentation & Scope
3.3. Value Chain Analysis
3.4. Key Market Trend Analysis
3.4.1. Market Drivers
3.4.2. Market Restraint/Challenges
3.4.3. Market Opportunities
3.5. Porter’s Five Forces Analysis
3.6. Potential Venture Avenues
3.7. Market Share Analysis
3.8. Regulatory Framework
3.9. Marketing Strategy
3.10. Key Winning Strategy
3.11. Consumer Behavior Analysis
4. Product Overview
4.1. Introduction
4.2. Market Size & Forecast, 2020 to 2029
4.3. By Product Type
4.3.1. Brake Pads
4.3.2. Brake Shoes
4.3.3. Brake Linings
4.3.4. Clutch Facings
4.4. By Material Mode
4.4.1. Organic Friction Materials
4.4.2. Metallic Friction Materials
4.4.3. Ceramic Friction Materials
5. Application Overview
5.1. Introduction
5.2. Market Size & Forecast, 2020 to 2029
5.2.1. Key Applications
5.2.1.1. Automotive
5.2.1.2. Aerospace Industry
5.2.1.3. Marine Industry
5.2.1.4. Railway Transportation
5.2.1.5. Industrial Machinery
5.2.1.6. Construction and Mining Equipment
6. End Users Overview
6.1. Introduction
6.2. Market Size & Forecast, 2020 to 2029
6.2.1. Automotive
6.2.2. Aerospace
6.2.3. Marine
6.2.4. Railway
6.2.5. Industrial Machinery
6.2.6. Construction
7. Regional Overview
7.1. Introduction
7.2. Market Size & Forecast, 2020 to 2029
7.2.1. Americas
7.2.1.1. North America
7.2.1.1.1. U.S.
7.2.1.1.2. Canada
7.2.1.2. South America
7.2.2. Europe
7.2.2.1. Western Europe
7.2.2.1.1. Germany
7.2.2.1.2. France
7.2.2.1.3. U.K.
7.2.2.1.4. Italy
7.2.2.1.5. Spain
7.2.2.1.6. Rest Of Western Europe
7.2.2.2. Eastern Europe
7.2.3. Asia Pacific
7.2.3.1. China
7.2.3.2. Australia
7.2.3.3. Japan
7.2.3.4. India
7.2.3.5. Republic of Korea
7.2.3.6. Rest of Asia Pacific
7.2.4. The Middle East & Africa
7.2.4.1. The Middle East
7.2.4.1.1. UAE
7.2.4.1.2. Saudi Arabia
7.2.4.1.3. Kuwait
7.2.4.1.4. Qatar
7.2.4.1.5. Rest of the Middle East
7.2.4.2. Africa
8. Manufacturer/ Vendor Profile
8.1. The following attributes will be considered while profiling key manufacturers in this industry:
8.1.1. Company Overview
8.1.2. Financial Synopsis
8.1.3. Recent Developments
8.1.4. R&D Investments (if any)
8.1.5. Strategy Overview (Analyst Perspective)
8.1.6. Product Portfolio
8.2. Companies Profiled
8.2.1. Federal-Mogul Corporation (Now part of Tenneco Inc.)
8.2.2. Brembo S.p.A.
8.2.3. Nisshinbo Holdings Inc.
8.2.4. Akebono Brake Industry Co., Ltd.
8.2.5. Miba AG
8.2.6. Aisin Seiki Co., Ltd.
8.2.7. Carlisle Brake & Friction
8.2.8. BorgWarner Inc.
8.2.9. Meritor, Inc.
8.2.10. TMD Friction Holdings GmbH
8.2.11. Robert Bosch GmbH
8.2.12. Delphi Technologies PLC

Frequently Asked Questions (FAQ):

  • What are friction products, and what industries utilize them?

    Friction products encompass a variety of materials used to generate frictional force, typically for braking or clutching purposes. Industries such as automotive, aerospace, manufacturing, and construction extensively use friction products in brake pads, clutches, industrial machinery, and other applications requiring controlled motion or deceleration.
  • What are the key drivers shaping the global friction products market?

    The global friction products market is influenced by factors like increasing vehicle production, stringent safety regulations mandating the use of high-performance friction materials, and the expansion of industrial sectors worldwide. Additionally, advancements in material science leading to the development of innovative friction materials with enhanced durability and performance are driving market growth.
  • How is the global friction products market responding to environmental concerns?

    Environmental sustainability is becoming a significant focus in the friction products market. Manufacturers are increasingly investing in research and development to create eco-friendly friction materials with reduced environmental impact. This includes the development of low-noise, low-dust, and asbestos-free friction products, as well as exploring alternative materials such as ceramics and carbon composites.

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