Dublin, May 21, 2024 (GLOBE NEWSWIRE) -- The "Friction Products and Materials - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Friction Products and Materials Market to Reach $43.6 Billion by 2030
The global market for Friction Products and Materials estimated at US$29.9 Billion in the year 2023, is projected to reach a revised size of US$43.6 Billion by 2030, growing at a CAGR of 4.8% over the analysis period 2023-2030. 
Friction Pads, one of the segments analyzed in the report, is projected to record 5.9% CAGR and reach US$16.7 Billion by the end of the analysis period. Growth in the Friction Lining segment is estimated at 5% CAGR for the next 8-year period.
The U.S. Market is Estimated at $5.9 Billion, While China is Forecast to Grow at 8.1% CAGR
The Friction Products and Materials market in the U.S. is estimated at US$5.9 Billion in the year 2023. China, the world's second largest economy, is forecast to reach a projected market size of US$11.3 Billion by the year 2030 trailing a CAGR of 8.1% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.9% and 3.3% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 2.8% CAGR.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 510 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $29.9 Billion |
| Forecasted Market Value (USD) by 2030 | $43.6 Billion |
| Compound Annual Growth Rate | 5.5% |
| Regions Covered | Global |
MARKET OVERVIEW
- Encouraging Demand from Diverse Industry Verticals Drives Growth Momentum in Global Friction Products and Materials Market
- Global Economic Update
- Global Average Annual Brent Crude Oil Price (In US$ Per Barrel) for Years 2017 through 2024
- World Economic Growth Projections (Real GDP, Annual % Change) for the Years 2020 Through 2024
- Friction Products and Materials - Global Key Competitors Percentage Market Share in 2023 (E)
- Friction Products and Materials Competitor Market Share Scenario Worldwide (in %): 2023E
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2023 (E)
- Friction Materials: An Overview
- Product Types
- Friction Materials Guidelines Hold Strict Stance over Toxic Materials
- Recent Market Activity
MARKET TRENDS & DRIVERS
- Braking Systems Line up Ahead with Innovative Friction Materials
- New Hybrid Friction Material Composites for Evolving Powertrain Requirements
- Automobile Production Dynamics Influences Demand Patterns of Friction Materials
- Global Light Vehicle Production (In Million Units) for Years 2019 through 2025
- Importance of New Friction Materials in the Evolving Vehicular Landscape
- Strong Outlook for Automotive Aftermarket to Benefit Demand
- Global Opportunity for Automotive Aftermarket (In US$ Billion) for Years 2023, 2025 and 2027
- Aging Vehicle Fleet Drives Opportunities in the Aftermarket
- With Several Governments Imposing 15 Years as the Retirement Age for Vehicles, the Growing Age of Vehicles is Poised to Benefit Demand for Replacements Parts: Average Age of Cars & Light Trucks in the United States (In Years) for the Years 1980, 1990, 2000, 2015, 2020 and 2023
- Average Age of Light Vehicles (Car & Light Commercial Vehicles) in the US for Years 2010, 2018 and 2023
- Rising Demand for Electric Vehicles Drive Need for Specialized Friction Products
- World Electric Vehicles (EVs) Annual Sales in Thousand Units for Years 2020, 2022, 2024, and 2026
- Electronic Braking Breakthroughs Push EV Safety & Autonomous Driving Forward
- Bringing Down Environmental Impacts and Improving Sustainability
- Advances in Materials Science and Technology Continue to Drive Improvements in Friction Products used in Aerospace Applications
- Aerospace Sector Glides Towards Modern Sustainable Aircraft Brakes
- Encouraging Recovery of the Aerospace Industry to Spur Opportunities for Friction Products and Materials
- New Route Expansion Signals a Good Return to Business & a Strong Business Case for New Aircraft Orders & Deliveries: Number of New Aircraft Demanded (In Units) as a Result of New Air Route Expansion by 2041
- New Railway Projects Present Growth Prospects for Friction Products and Materials
- Glass Fibers for Greater Friction Performance of Train Brake Shoes
- Growth Momentum in the Global Construction End-Use Sector Lined with Cautious Optimism
FOCUS ON SELECT PLAYERS(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.
For more information about this report visit https://www.researchandmarkets.com/r/xleokd
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