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 the rising demand for passenger and commercial vehicles, which leads to the growth of friction materials consumption in auto components.
Key players operating in the friction materials market include Akebono Brake Industry (Japan), Federal-Mogul Holdings (US), Miba (Austria), Fras-Le (Brazil), Nisshinbo Holdings (Japan), Aisin Seiki (Japan), Valeo Friction Materials India (India), Yantai Hi-Pad Brake Technology (China), and Carlisle Brake & Friction (US). These players adopted various strategies such as new product development and agreement to strengthen their position in the friction materials market.
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Based on business type, the aftersales segment of the friction materials market is projected to grow at the higher rate during the forecast period. The growth of this segment can be attributed to the increased demand for replacement friction products, particularly in automotive end-use industry.
Based on application, the friction materials market in the brakes segment is projected to witness the highest CAGR between 2018 and 2023. Brake systems are essential to decelerate or control acceleration of a vehicle or machinery. The high demand for friction brakes from end-use industries such as automotive and railway is driving the growth of the friction materials market in the brakes application segment.
Akebono Brake Industry (Japan) focuses on expansion and new product development to meet the increased demand for friction materials from end-use industry across the globe and enter the untapped markets. In September 2017, Akebono Brake Industry entered into an agreement with Toyota for installation of brake pads in Toyota’s products - Toyota C-HR, Toyota Prius PHV, and Camry. In June 2017, Akebono Brake Industry developed 13 new products for its premium ceramic brake pad lines, which would expand its vehicles coverage to more than 6.5 million additional vehicles in the US and Canada. These strategies helped the company to strengthen its position in the global friction materials market.
Fras-Le (Brazil) is another leader in the friction materials market and is the largest friction material manufacturer in Brazil. It focuses on inorganic growth strategies such as joint venture, partnership, and acquisition to acquire a large share in the friction materials market. In January 2018, Fras-le joint ventured with Federal-Mogul Motorparts to form JURID do Brasil Sistemas Automotivos Ltda. The joint venture company provides high-quality friction brake products to OE and aftermarket customers in the light vehicle segment in Brazil and other parts of South America. This strategy has strengthened the company’s position in the friction brakes market in the South America region.
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Federal-Mogul Holdings (US) is one of the leading players in the friction materials market. The company concentrates on organic growth strategy such as new product development to supply competitive product in the friction materials market. In January 2018, Federal-Mogul Holdings introduced a series of premium brake rotors for the heavy-duty vehicle segment through its brand Abex. In July 2017, the company introduced a series of air disc brake products for popular commercial vehicle braking applications. These disc brake products conform to 2025 copper-free requirements of less than 0.05% by weight, with no copper added to this advanced OE-quality formulation. These strategies are expected to help the company expand its product portfolio in the untapped market and increase its share in the friction materials market.
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In this report, our team offers a comprehensive analysis of Friction Materials market, SWOT analysis of the most prominent players in this landscape.
Along with an industrial chain market statistics in terms of revenue, sales, price, capacity, regional market analysis, segment-wise data and market forecast information are offered in the full study, etc.
Download Free Sample Report @ https://www.radiantinsights.com/research/global-friction-materials-market-2020-2026/request-sample This report focuses on top manufacturers in global market, Involved the assessment of Sales, price, revenue and market share for each manufacturer, covering• Federal-Mogul Corporation• Akebono Brake Industry• Nisshinbo Brake• Fras-le S A, ITT• Carlisle Brake & Friction• Honeywell Corporation• ADVICS CoLtd• Miba• Aisin Seiki• Valeo Friction Materials India• Yantai Hi-Pad Brake Technology On the basis of product, this report displays the Sales, revenue, price, market share and growth rate of each type, primarily split into• Lining• Pads• Blocks• Discs• Others (Rolls, Sheets, Etc.)
By Application, this report focuses on Sales, Market share and Growth Rate of each application, can be divided into• Brakes• Clutches• Industrial Brake & Transmission Systems By Regions, this report splits global market into several key regions, with Sales, Revenue, Price and Gross Margin market share of top players in these regions, from 2014 to 2026 (forecast), like• China• USA• Europe• Japan• Korea• India• Southeast Asia• South America Browse Full Research Report with TOC @ https://www.radiantinsights.com/research/global-friction-materials-market-2020-2026 Table of Contents Global Friction Materials Market Professional Survey Report 20191 Report Overview1.1 Definition and Specification1.2 Manufacturers and Region Overview1.2.1 Manufacturers Overview1.2.2 Regions Overview1.3 Type Overview1.3.1 Lining1.3.2 Pads1.3.3 Blocks1.3.4 Discs1.3.5 Others (Rolls, Sheets, Etc.
)1.4 Application Overview1.4.1 Brakes1.4.2 Clutches1.4.3 Industrial Brake & Transmission Systems1.5 Industrial Chain1.5.1 Friction Materials Industrial Chain1.5.2 Upstream1.5.3 Downstream 2.1 The Overall Market Performance(Volume)2.1.1 Lining2.1.2 Pads2.1.3 Blocks2.1.4 Discs2.1.5 Others (Rolls, Sheets, Etc.
)2.2 The Overall Market Performance(Value)2.2.1 Lining2.2.2 Pads2.2.3 Blocks2.2.4 Discs2.2.5 Others (Rolls, Sheets, Etc.)
The Report published on UpMarketResearch.com about “Friction Products and Materials Market” is spread across 117 pages and provides newest industry data, market future trends, allowing you to identify the products and end users driving Revenue growth and profitability.
The industry report lists and studies the leading competitors, also provides the insights with strategic industry Analysis of the key factors influencing the market.Friction Products and Materials Market Research Report is a professional and in-depth study on the current state which focuses on the major drivers and restraints for the key players.
Friction Products and Materials Industry research report provides granular analysis of the market share, segmentation, revenue forecasts and geographic regions of the market.The report begins with the overview of the Friction Products and Materials market and updates the users about the latest developments and future expectations.
It presents a comparative detailed analysis of all the regional and major player segments, offering readers a better knowledge of areas in which they can place their existing resources and gauging the priority of a particular region in order to boost their standing in the global market.
For Sample Copy Of This Report @ https://www.upmarketresearch.com/home/requested_sample/1753In this report, there is a healthy amount of coverage of the market economies such as the demand and supply, cost and profit of the Friction Products and Materials Market.
This holds key importance for users and hence this information is well supported with due statistics that are represented in easy to consume graphs, charts, and tables.The report compiles exhaustive information obtained via proven research methodologies and from trusted sources within the industries.
Friction materials market are also termed as brake or clutch materials.
They are usually applied to halt or decrease the speed of a vehicle by the process of changing kinetic into thermal energy with the help of friction.
The focus is also on weigh reduction of friction materials and brake.These friction materials are able to withstand high wear and tear along with high temperature which acts as the vital factor escalating the market growth, also significant increase in demand for electric vehicles, extensively increasing services sector in several countries, rising lack of better inter-city public transportation facility in numerous countries is causing substantial increase in the private vehicle ownership and increasing demand in automotive sector due to rise in population which acts as the major factors among others driving the friction materials market.
Rising Upsurge in worldwide demand for passenger and commercial vehicles is a vital factor driving the growth of friction materials market.This Global Friction Materials Market research report intensely analyses the potential of the market with respect to current scenario and the future prospects by considering several industry aspects of Cardinal Health industry.
The company profiles of all the chief and dominating market players and brands who are taking steps such as product launches, joint ventures, mergers and acquisitions are mentioned in the report.Get Sample Report + All Related Images and Graphs @https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-friction-materials-marketMarket Drivers and Restraints:Based on product, the friction materials market is segmented into pads, linings, discs, blocks and others.
Pads are generally used in brake systems and are visible to significant friction,that leads to wear and tear.
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