Friction Products and Materials Global Strategic Market Report 2024: Encouraging Demand from Diverse Industry Verticals Drives Growth Momentum - Forecast to 2030

Dublin, May 21, 2024 (GLOBE NEWSWIRE) -- The "Friction Products and Materials - Global Strategic Business Report" report has been added to'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 AttributeDetails
No. of Pages510
Forecast Period2023 - 2030
Estimated Market Value (USD) in 2023$29.9 Billion
Forecasted Market Value (USD) by 2030$43.6 Billion
Compound Annual Growth Rate5.5%
Regions CoveredGlobal


  • 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


  • 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


  • 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.

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Friction Products and Materials Market

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