Low Friction Coating Market Size
| Study Period: | 2018 - 2028 |
| Fastest Growing Market: | Asia Pacific |
| Largest Market: | Asia Pacific |
| CAGR: | > 6.5 % |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Low Friction Coating Market Analysis
The low friction coating market is expected to reach USD 2,800 million by the end of this year, and it is estimated to register a CAGR of 6.84% during the forecast period.
Due to the COVID-19 outbreak, nationwide lockdowns around the globe, disruption in manufacturing activities and supply chains, and production halts impacted the market in 2020. However, the conditions started recovering in 2021, restoring the market's growth trajectory during the forecast period.
- One of the major factors driving the market is the increasing demand for low-friction coating in the aerospace industry and increasing applications in the automotive industry across major economies.
- However, government regulations on the toxicity of overheated PTFE are expected to hinder the market's growth.
- The growing demand for flow-friction coating in the healthcare industry will likely act as an opportunity for the market studied in the coming years.
- By the end-user industry the automotive industry is expected to dominate the market over the forecast period.
- Asia-Pacific region is expected to dominate the market with the largest consumption from countries such as China, India, and Japan.
Low Friction Coating Industry Segmentation
Low friction coatings have a low coefficient of friction varying from 0.05–0.2. They provide improved service life and performance while eliminating the need for wet lubricants in operating environments that require resistance to chemicals, heat, or clean room conditions. The use of low-friction coatings for various materials such as aluminum, steel, magnesium, titanium, plastic, rubber, and carbon fiber solves friction problems in various applications. The market is segmented by type, end-user industry, application, and geography. By type, the market is segmented into molybdenum disulfide, tungsten disulfide, polytetrafluoroethylene (PTFE), and other types. By end-user industry, the market is segmented into automotive and transportation, aerospace and defense, healthcare, construction, oil and gas, and others. By application, the market is segmented into bearings, automotive parts, power transmission items, valve components and actuators, and other applications. The report also covers the market size and forecast for bioplastics in 17 countries across major regions. For each segment, the market sizing and forecast have been done based on revenue (USD million).
| Type | |
| Molybdenum Disulphide | |
| Tungsten Disulphide | |
| Polytetrafluoroethylene (PTFE) | |
| Other Types |
| End-User Industry | |
| Automotive and Transportation | |
| Aerospace and Defense | |
| Healthcare | |
| Construction | |
| Oil and Gas | |
| Others End-User Industries |
| Application | |
| Bearings | |
| Automotive Parts | |
| Power Transmission Items | |
| Valve Components and Actuators | |
| Other Applications |
| Geography | ||||||||||
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Low Friction Coating Market Trends
This section covers the major market trends shaping the Low Friction Coating Market according to our research experts:
Increasing Demand Low Friction Coating in Automotive and Transportation Industry
- Low friction coatings give improved performance and service life while dispensing with the requirement for wet lubricants in a working environment that expects protection from heat, synthetic substances, or cleanroom conditions.
- Implementing low-friction and super-hard coatings in the automotive industry provides a low-friction surface, increased fuel economy, durability, and environmental compatibility of advanced engine systems.
- The United States also has one of the largest automotive industries in North America. According to OICA, automotive production in 2021 accounted for 91,67,214 units, an increase of 4% compared to the show in 2020, which was reported to be 88,22,399 units.
- According to the IEA 2021 Outlook, worldwide electric car sales doubled in 2021 and reached 6.6 million. The sales increased strongly in 2022, with 2 million electric cars sold across the globe in the first quarter of 2022.
- The automotive industry is expected to grow significantly over the coming years. Evolving digital technology, changes in customer sentiment, and economic health have played a vital role in non-commercial business practices of manufacturing vehicles.
- Hence, owing to the factors mentioned above, the application of low-friction coating in the automotive industry is likely to dominate during the forecast period.
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Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region is expected to dominate the market during the forecast period. The rising demand for low-friction coating with the growing automotive and healthcare industry in countries like China and India is expected to drive the demand for low-friction coating in this region.
- The largest producers of low-friction coating are based in the Asia-Pacific region. Some of the leading companies in the production of low-friction coating are VITRACOAT, CARL BECHEM GMBH, The Chemours Company, Dow, and ASV Multichemie Private Limited, among others.
- According to OICA, China has the world's most influential automotive production base, with a total vehicle production of 26.08 million units in 2021, registering an increase of 3% compared to 25.23 million units produced last year. Further, according to the China Association of Automobile Manufacturers (CAAM), in the first seven months of 2022, the country had 14.57 million units of cars, registering a growth rate of 31.5% Y-o-Y.
- According to the Boeing Commercial Outlook 2021-2040, in China, around 8,700 new deliveries will be made by 2040, with a market service value of USD 1,800 billion.
- According to reports by the OICA, automotive production in India witnessed a 30% growth in 2021. As per the reports by the Society of Indian Automobile Manufacturers, SIAM, the country produced 4,399,112 units of passenger cars and light vehicles in 2021.
- In a report titled India Airline Outlook 2022, The Centre for Asia Pacific Aviation (CAPA) India indicated that 2022 is expected to see a surge of 52% in domestic and 60% in international air traffic. The air passenger traffic in FY 2022 stood at 48.22 million in the country. Furthermore, the estimated expenditure of Indian travelers through air transport stood at USD 136 billion in 2021. The government is trying to cater to air traffic by increasing the number of airports in the country.
- Owing to the above-mentioned factors, the market for low friction coating in the Asia-Pacific region is projected to grow significantly during the study period.
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Low Friction Coating Industry Overview
The global low-friction coating is consolidated in nature. Some of the major companies in the market include PPG Industries Inc., The Chemours Company, DuPont, Klüber Lubrication, and Daikin Industries, among others.
Low Friction Coating Market Leaders
PPG Industries Inc.
The Chemours Company
DuPont
Klüber Lubrication
Daikin Industries
*Disclaimer: Major Players sorted in no particular order
Low Friction Coating Market News
- In April 2022, PPG acquired Arsonsisi, an industrial coatings company based in Milan, Italy. This acquisition is expected to help the company to enhance its business for low-friction coatings and maximize its reach throughout Europe.
- In June 2021, The FUCHS Group acquired the lubricants business of Gleitmo Technik AB in Kungsbacka, Sweden. Through this acquisition, the company broadened its product portfolio.
Low Friction Coating Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Application in the Automotive Industry
4.1.2 Growing Demand for Low-friction Coating in Aerospace Industry
4.1.3 Other Drivers
4.2 Restraints
4.2.1 Government Regulation on Toxicity of Overheated PTFE
4.3 Industry Value Chain Analysis
4.4 Industry Attractiveness - Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION
5.1 Type
5.1.1 Molybdenum Disulphide
5.1.2 Tungsten Disulphide
5.1.3 Polytetrafluoroethylene (PTFE)
5.1.4 Other Types
5.2 End-User Industry
5.2.1 Automotive and Transportation
5.2.2 Aerospace and Defense
5.2.3 Healthcare
5.2.4 Construction
5.2.5 Oil and Gas
5.2.6 Others End-User Industries
5.3 Application
5.3.1 Bearings
5.3.2 Automotive Parts
5.3.3 Power Transmission Items
5.3.4 Valve Components and Actuators
5.3.5 Other Applications
5.4 Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Spain
5.4.3.6 Nordic Countries
5.4.3.7 Russia
5.4.3.8 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Rest of South America
5.4.5 Middle-East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 South Africa
5.4.5.3 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AFT Fluorotec Ltd
6.4.2 ASV Multichemie Pvt Ltd
6.4.3 Carl Bechem GmBH
6.4.4 Daikin Industries
6.4.5 DuPont
6.4.6 Endura Coatings
6.4.7 Everlube (Curtiss-Wright)
6.4.8 FUCHS
6.4.9 GGB
6.4.10 IHI HAUZER BV
6.4.11 IKV Tribology Limited
6.4.12 Impreglon UK Limited
6.4.13 Indestructible Paint Limited
6.4.14 Klüber Lubrication
6.4.15 Micro Surface Corp
6.4.16 Poeton
6.4.17 PPG Industries Inc.
6.4.18 The Chemours Company
6.4.19 VITRACOAT
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand of Low Friction Coating in Healthcare Industry
Low Friction Coating Market Research FAQs
What is the study period of this market?
The Low Friction Coating Market is studied from 2018 - 2028.
What is the growth rate of Low Friction Coating Market?
The Low Friction Coating Market is growing at a CAGR of >6.5% over the next 5 years.
Which region has highest growth rate in Low Friction Coating Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Low Friction Coating Market?
Asia Pacific holds highest share in 2021.
Who are the key players in Low Friction Coating Market?
PPG Industries Inc., The Chemours Company, DuPont, Klüber Lubrication, Daikin Industries are the major companies operating in Low Friction Coating Market.
Low Friction Coating Industry Report
Statistics for the 2023 Low Friction Coating market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Low Friction Coating analysis includes a market forecast outlook to 2028 and historical overview. Get a sample of this industry analysis as a free report PDF download.
Low Friction Coating Report Snapshots
