Friction Materials Market By Material Type (Organic Friction Materials, Metallic Friction Materials, Ceramic Friction Materials), Product Type (Brake Pads, Brake Shoes, Clutch Facings), Application (Automotive, Industrial Machinery, Aerospace & Defense), & Region for 2024-2031

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Friction Materials Market Valuation – 2024-2031

The rising automotive and transportation industries are driving up the demand for friction materials. As the number of vehicles on the road increases worldwide, there is a greater demand for dependable and effective braking systems critical for vehicle safety. Friction materials such as brake pads and linings play an important part in these systems by providing the resistance required to slow or stop a vehicle by enabling the market to surpass a revenue of USD 21.33 Billion valued in 2024 and reach a valuation of around USD 30.69 Billion by 2031.

Another major reason boosting demand for friction materials is their use in industrial machinery and equipment. Industries including construction, mining, and manufacturing rely significantly on machinery that needs reliable braking systems to maintain operational safety and efficiency. Global industrialization and infrastructural development have resulted in greater use of heavy machinery, hence increasing the demand for friction materials by enabling the market to grow at a CAGR of 4.65% from 2024 to 2031. 

Friction Materials MarketDefinition/ Overview

Friction materials are critical components in mechanical systems that manage and control friction between surfaces. They are specifically engineered to increase friction or minimize wear depending on the application. These materials are commonly used in automotive braking systems, clutches, and transmissions as well as industrial machinery. Organic, metallic, ceramic, and composite friction materials are all common with each having its own set of performance characteristics. Organic friction materials are often composed of resins, fibers, and fillers and are noted for their silent operation and cost-effectiveness.

Friction materials’ principal role is to convert kinetic energy into thermal energy through the friction process which is critical for motion control and mechanical system safety. Friction materials are applied to brake pads and shoes which push against rotating discs or drums to slow or stop the vehicle. This process generates heat which is dispersed by the materials to ensure optimal braking performance.

The transition to electric vehicles (EVs) is also influencing the future use of friction materials. Electric vehicles have different braking requirements than normal internal combustion engine vehicles necessitating the development of specific friction materials capable of handling regenerative braking systems. Regenerative braking uses an electric motor to slow down the vehicle and collect energy reducing wear on typical friction components.

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Will the Increase in Sales of Vehicles Drive the Friction Materials Market?

The global friction materials market is expected to increase significantly owing to rising vehicle sales around the world. This tendency is especially visible in emerging economies where rising disposable incomes and urbanization are driving car demand. According to the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle production will reach 80.1 million units in 2021, up 3% from 2020, despite persistent supply chain problems. Vehicle sales in China, the world’s largest automobile market increased by 3.8% year on year in 2021, to 26.28 million units, according to the China Association of Automobile Manufacturers (CAAM).

The auto industry's boom is really shaping the market for friction materials, those essential parts that make your car stop, shift, and go! Think brake pads and shoes – they're the big players here because, well, they keep you safe. In fact, the National Highway Traffic Safety Administration (NHTSA) says that faulty brakes are behind about 22% of accidents caused by vehicle issues, which proves you really do need top-notch friction materials. And get this, with everyone going electric, that opens up even more doors for companies making these materials! The International Energy Agency (IEA) predicts that electric car sales will more than quadruple, hitting 6.6 million by 2021 and making up almost 9% of the whole car market.

Will High Raw Material Costs Hamper the Friction Materials Market?

The friction materials market isn't exactly having a smooth ride, mainly because raw material costs are going through the roof, and that could really slow down growth. What's causing all this trouble? Well, the price of essential ingredients like aramid fibers, phenolic resins, and various metals are climbing. Check this outthe US Bureau of Labor Statistics says the Producer Price Index for raw materials in manufacturing jumped a whopping 18.5% between 2020 and 2021! That's a huge hit to friction material companies. And it's not letting up – the World Bank’s Metals and Minerals Price Index went up 25.7% from 2020 to 2022. Plus, you know, the whole COVID thing messed up supply chains globally, making shortages and even higher prices a real headache.

Okay, so there are some challenges, but the friction materials market isn't going down without a fight! A big reason is the growing car industry, especially in countries where the economy is really taking off. The International Organization of Motor Vehicle Manufacturers (OICA) says that worldwide car manufacturing jumped by 3% from 2020 to 2021, reaching 80 million vehicles. That's a lot of extra cars needing brake pads! Plus, we've got stricter safety rules and a demand for cars that use less gas. This is forcing companies to get creative with new friction materials, which could help balance out those high raw material costs.

Category-Wise Acumens

Will Widespread Adoption of Disc Brake Systems Influence the Product Type Segment?

Brake pads? Yeah, they're pretty much the king of the hill when it comes to car parts. Why? Well, think about italmost every car these days uses disc brakes. And disc brakes, they need brake pads to, you know, actually stop the car. Disc brakes are just way better than those old drum brakes. They handle heat like a champ, give you consistent stopping power, and are just safer all around. That's why everyone, from car companies to drivers, loves them. So, as more and more cars hit the road all over the globe, guess what? More and more brake pads are needed!

Brake pads just keep getting better and better, which means they're sticking around for the long haul! Manufacturers are constantly working to create brake pads that not only work better but also last longer and are kinder to the planet. Take, for instance, the big push for non-asbestos organic (NAO) brake pads – they're designed to be safer for you and the environment. And with the rise of electric vehicles (EVs), brake pads are still super important. EVs often use regenerative braking alongside regular disc brakes. This dynamic duo boosts braking power and cuts down on wear and tear, meaning your brake pads last even longer! So yeah, they're playing a vital role in the auto industry's move towards being greener and more efficient.

Will the Increasing Awareness and Regulatory Pressure to Reduce Emissions Drive Growth in the Application Segment?

Let's face it, the automobile sector is really the big dog in the friction materials world, and for good reason. I mean, just think about all the cars, trucks, and motorbikes buzzing around out there – that's a huge, constant demand for this stuff! They need friction materials for everything, from braking to clutch work, basically any part of the system that relies on power getting transferred. And don't forget, the automotive industry is all about constant improvement. It's a fast-moving scene obsessed with safety, performance, and making things more efficient. With global regulations getting stricter and stricter, there's an ever-growing need for top-notch friction materials that can handle just about anything.

The automotive industry’s emphasis on sustainability and environmental effects promotes advancements in friction materials. With growing awareness and regulatory pressure to minimize emissions and utilize environmentally friendly materials, automobile manufacturers are looking for friction materials that provide great performance while remaining sustainable. This includes the creation of non-asbestos organic (NAO) materials and other eco-friendly formulations that reduce hazardous emissions and are better for the environment. The demand for lighter automobiles to enhance fuel efficiency mandates the deployment of innovative friction materials that can operate well under low-weight settings.

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Country/Region-wise Acumens

Will Rapid Industrialization and Urbanization Drive the Growth in the Asia Pacific Region?

The Asia Pacific region is expected to experience significant growth in the friction materials market driven by rapid industrialization and urbanization. As countries develop their manufacturing sectors and infrastructure, demand for friction materials across various industries is expected to surge. The expanding automotive industry in Asia Pacific is a key driver of this growth, according to the International Organization for Standardization.

Wow, check out how many more cars are on the road in China! The World Bank says the number of vehicles per 1,000 people jumped from 69 in 2010 to 204 in 2020. That's a huge increase! And it looks like that trend is going to keep going, which is great news for the friction materials market. Plus, all those new high-speed trains and subways? They need friction materials too! China's National Railway Administration says their high-speed rail network hit 40,000 kilometers by 2021. Can you believe that? The world's biggest! All those trains need brakes, and brakes need, you guessed it, friction materials.

Will the Increasing Demand for Automobiles and Industrial Machinery Boost the Market in the North American Region?

We're seeing the North American market for friction materials really take off, mostly because people want more cars and industrial equipment. The automotive industry is a big reason why. Think about itThe US Bureau of Economic Analysis says light vehicle sales in the US hit around 15.1 million in 2021, bouncing back after the pandemic slowdown! And it's not stopping there - sales are projected to reach 16.8 million by 2025. This growth in the automobile market naturally means more demand for friction materials, since they're essential for things like brake systems, clutches, and transmissions.

The industrial machinery industry in North America is a big deal for the friction materials market too. Even with the pandemic throwing curveballs, the value of shipments for industrial machinery hit a whopping USD 384.9 Billion in 2020, says the US Census Bureau’s Annual Survey of Manufacturers. And things are only looking up, with more money being poured into infrastructure and construction. Take the United States Infrastructure Investment and Jobs Act, for instance, which was signed in November 2021. It's promising $550 billion in new federal funding over five years for all sorts of infrastructure projects. This huge investment should really boost the demand for construction and mining equipment, both of which really depend on friction materials to do their thing.

Competitive Landscape

The friction materials market is a dynamic and competitive space, characterized by a diverse range of players vying for market share. These players are on the run for solidifying their presence through the adoption of strategic plans such as collaborations, mergers, acquisitions, and political support. The organizations are focusing on innovating their product line to serve the vast population in diverse regions.

Some of the prominent players operating in the friction materials market include

  • Akebono Brake Industry
  • Federal-Mogul Holdings
  • Miba
  • Fras-Le
  • Nisshinbo Holdings
  • Aisin Seiki
  • Valeo Friction Materials India
  • Yantai Hi-Pad Brake Technology
  • Carlisle Brake & Friction
  • ABS Friction
  • Bendix Commercial Vehicles Systems
  • Brembo
  • BREMSKERL REIBBELAGWERKE Emmerling
  • Fras-le
  • GAMA
  • Roulunds Braking

Latest Developments

  • In October 2022, Akebono Brake Industry Co, Ltd completed its business revival plan ahead of schedule. The initiative aimed to streamline manufacturing and increase efficiency by eliminating activities in Japan.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2021-2031

Growth Rate

CAGR of ~4.65% from 2024 to 2031

Base Year for Valuation

2024

Historical Period

2021-2023

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Material Type
  • Product Type
  • Application
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

Akebono Brake Industry Co. Ltd., Nisshinbo Holdings, Inc., Bosch, Continental AG, Tenneco, Federal-Mogul Holdings, Miba AG, Carlisle Brake & Friction, Aisin Chemical Co. Ltd., and BorgWarner, Inc.

Customization

Report customization along with purchase available upon request

Friction Materials Market, By Category

Material Type

  • Organic Friction Materials
  • Metallic Friction Materials
  • Ceramic Friction Materials
  • Carbon Friction Materials

Product Type

  • Brake Pads
  • Brake Shoes
  • Clutch Facings
  • Transmission Systems

Application

  • Automotive
  • Industrial Machinery
  • Aerospace & Defense
  • Railway
  • Marine

Region

  • North America
  • Europe
  • Asia-Pacific
  • South America
  • Middle East & Africa

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We'll dive deep into the market, looking at the numbers (that's the quantitative stuff) and the feelings (the qualitative side), breaking it down by different groups using both money and other cool factors. We'll give you the market value in good old USD Billion for each little piece of the pie. We'll even point out which region and segment we think will be the rock stars, showing the fastest growth and ruling the scene. Plus, we'll explore each region, checking out how much of the product/service they're using and what's influencing their choices. Wondering who's on top? We'll map out the competitive landscape, ranking the big players and highlighting their latest moves – new products, partnerships, expansions, and those all-important acquisitions from the last five years. You'll get detailed company profiles covering the basics, key insights, product comparisons, and our honest SWOT analysis for the major contenders. We'll also give you the lowdown on the current and future state of the industry, keeping an eye on the latest trends, growth opportunities, and the roadblocks ahead for both up-and-coming and established areas. Expect a thorough examination of the market from every angle, thanks to Porter’s five forces analysis, giving you an edge. We'll also illuminate the market through the Value Chain, uncovering market dynamics and future growth possibilities. Finally, you’ll get 6 months of post-sales analyst support to help you make sense of it all.

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Pivotal Questions Answered in the Study

Some of the key players leading in the market include Akebono Brake Industry Co. Ltd., Nisshinbo Holdings, Inc., Bosch, Continental AG, Tenneco, Federal-Mogul Holdings, Miba AG, Carlisle Brake & Friction, Aisin Chemical Co. Ltd., and BorgWarner, Inc.
The primary factor driving the friction materials market is the increasing demand for high-performance and environmentally friendly braking systems in the automotive industry. This demand is fueled by the shift towards electric vehicles, advancements in safety regulations, and the need for materials that offer superior wear resistance, thermal stability, and reduced environmental impact.
The friction materials market is estimated to grow at a CAGR of 4.65% during the forecast period.
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