DUBLIN--(BUSINESS WIRE)--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%.
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.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Friction Materials Market, By Product
7 Friction Materials Market, By Business Type
8 Friction Materials Market, By Application
9 Friction Materials Market, By End-Use Industry
10 Regional Analysis
11 Competitive Landscape
12 Company Profiles
- Aisin Seiki
- Akebono Brake Industry
- Carlisle Brake & Friction (CBF)
- Federal-Mogul Holdings
- Fras-Le
- ITT Inc.
- Miba AG
- Nisshinbo Holdings
- Valeo Friction Materials India Private Limited
- Yantai Hi-Pad Brake Technology
For more information about this report visit https://www.researchandmarkets.com/research/flgp4k/worldwide?w=4
