Low Friction Coatings Market by Type (Polytetrafluoroethylene (PTFE), Molybdenum Disulfide (MoS2), End Use Industry (Aerospace, Automobile & Transportation, General Engineering, Energy, Food & Healthcare), and Region - Global Forecast to 2021
“The low friction coatings market is projected to grow at a CAGR of 5.7% during forecast period”
The low friction coatings market is projected to reach USD 810.4 million by 2021, at a CAGR of 5.7% from 2016 to 2021. Growing automobile industry, stringent environmental regulations, and growing demand for coating suitable for medical devices are the key drivers for the low friction coatings market.
PTFE is one of the key raw material for the manufacturing of low friction coatings. However, regulations pertaining to perfluorooctanoic acid and perfluorooctane sulfonate used in emulsion polymerization of PTFE can restrain the growth of the PTFE-based low friction coatings segment.
“Molybdenum disulfide (MoS2) was the largest segment of the low friction coatings market”
Molybdenum disulfide is used as a dry lubricant coating and is being increasingly used in high temperature and high pressure applications. MoS2 possesses properties such as low coefficient of friction, wear resistance, and high temperature stability, among others.
“Automobile & transportation was the fastest-growing end-use industry for low friction coatings”
Rising concerns about environmental issues and drawbacks of conventional lubricants such as low heat stability and disposability have led to companies operational in the automotive industry adopting low friction coatings to increase fuel efficiency and reduce the impact on the environment. The increasing use of low friction coatings to reduce noise, vibrations, and emissions in automobiles has fueled the demand for these coatings across the globe.
“Asia-Pacific is estimated to be the fastest-growing market for low friction coatings”
Asia-Pacific is one of the fastest-growing markets for several manufacturing industries, which has fueled the demand for low friction coatings in the region. Emerging economies such as China and India are attracting large investments from various manufacturers across the globe.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The break-up of primary interviews is given below:
• By Company Type - Tier 1 – 50%, Tier 2 – 37%, and Tier 3 – 13%
• By Designation - C level – 46%, Director level – 31%, and Others – 23%
• By Region - North America – 33%, Europe – 28%, Asia-Pacific– 22%, South America- 11%, and Middle & Africa- 6%
Companies profiled in the low friction coatings market research report include Dow Corning Corporation (U.S.), The Chemours Company (U.S.), Whitford Corporation (U.S.), Endura Coatings (U.S.), Vitracoat Inc. (U.S.), Poeton Industries (U.K.), Whitmore manufacturing company (U.S.), and Harves Co. Ltd. (Japan).
This research report categorizes the low friction coatings market based on type, end-use industry, and region. The report includes detailed information regarding the major factors influencing the growth of the low friction coatings market such as drivers, restraints, challenges, and opportunities. A detailed analysis of the key industry players has been done to provide insights into business overviews, products & services, key strategies, expansions, mergers & acquisitions, new product developments, agreements, and recent developments in the market.
Reasons to Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
1. This report segments the low friction coatings market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
2. The report will help stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report will help stakeholders understand the major competitors and gain insights to enhance their position in the business. The competitive landscape section includes expansions, acquisitions, and new product developments.
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