Global Markets for Friction Products and Materials

The global friction products and materials market was valued at $17.2 billion in 2014. This market is projected to grow from $18.0 billion in 2015 to $23.3 billion in 2020, a compound annual growth rate (CAGR) of 5.3% from 2015 to 2020.

Report Includes

• An overview of the global market for friction products and materials in light vehicles, medium- and heavy-duty trucks, aircraft, and other industrial applications
• Analyses of market trends with data from 2014, estimates for 2015, and projections of compound annual growth rates (CAGRs) through 2020
• Coverage of friction products, applications and materials in light vehicles, medium- and heavy-duty trucks, aircraft, and other industrial applications, as well as potential business opportunities in the future
• Information on dry friction materials, such as non-asbestos organic (NAO), semi-metallic, low-metallic, and asbestos friction materials
• Information on wet-friction materials such as paper products
• Analysis of the friction market's drivers, opportunities, and constraints
• Information on industry structure as well as social, political and regulatory issues
• Company profiles of major players in the market

The global friction products and materials market reached nearly $14.4 billion in 2012. This market is expected to grow to $15.1 billion in 2013 and $20.2 billion in 2018 with a compound annual growth rate (CAGR) of 6.0% for the five-year period, 2013 to 2018.

Report Includes

• An overview of the global market for friction products and materials in light vehicles, medium- and heavy-duty trucks, aircraft, and other industrial applications
• Analyses of market trends with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) for the five year period, 2013 to 2018
• An analysis of the friction market's drivers as well as constraints
• Information on industry structure as well as social, political and regulatory issues
• Comprehensive company profiles of key players in the market.

The global market for friction products and materials was valued at $13.8 billion in 2011 and is projected to reach nearly $14.7 billion in 2012, and $19.5 billion in 2017, a five-year compound annual growth rate (CAGR) of 5.9%.

• The ground transportation segment of the friction products and materials market was worth more than $5.8 billion in 2008. That was expected to decline slightly to $5.5 billion in 2009, and rise to 8.1 billion in 2014, for a 5- year compound annual growth rate (CAGR) of 8%.
• The aircraft/aerospace market is the smallest of the segments, but is expected to rise slightly from 2008 to 2009, $938 million to $941 million, and increase at a CAGR of 7.7% to reach nearly $1.4 billion in 2014.
• The industrial segment, combined with other smaller segments, amounted to nearly $4.7 billion in 2008, but is expected to decline to less than $4.3 billion in 2009. A rebound is projected for 2014, however, to nearly $6.3 billion, for a CAGR of 8%.

• The North American friction products and materials market was worth $6.9 billion in 2006. By the end of 2007, the market will be worth slightly less, taking a dip to $6.8 billion. By the end of 2012, the market will be worth 7.7 billion with a compound annual growth rate (CAGR) of 2.6%.
• Ground transportation will maintain the highest share of the market throughout the forecast period. By the end of 2006 the market was worth $3.9 billion, 57.3% of the market. By 2012, this share will drop slightly to 55.8%.
• The aircraft and aerospace sectors of the market remain the fastest growing, with a 4.5% CAGR throughout the forecast period.

REPORT HIGHLIGHTS

• The global market for friction products and materials is estimated at $6.8 billion in 2003 and is expected to rise at an average annual growth rate (AAGR) of 2.6% to reach $7.75 billion in 2008.
• Both original equipment and aftermarket ground transportation applications represent the largest single market for friction materials, accounting for 55% of the total, but features the lowest growth.
• Friction materials in aircraft/aerospace, a segment drastically affected by the 1990s reduction of defense spending and the aftermath of September 11th, accounts for 10% of the total. It is now growing at an AAGR of 4.5% over the long term.
• Railway, construction and other off-road, oilfield, and other industrial applications typically account for the remaining 35%, and is expected to rise at an AAGR of 2.9% during the forecast period.