Please Wait.....
Report
Low Friction Coating - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029
Market Report I 2024-02-17 I 220 Pages I Mordor Intelligence
The Low Friction Coating Market size is estimated at USD 3.20 billion in 2024, and is expected to reach USD 4.48 billion by 2029, growing at a CAGR of 6.95% during the forecast period (2024-2029).
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.
Key Highlights
-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 Market Trends
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.
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.
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, Kluber Lubrication, and Daikin Industries, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
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 Kluber 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
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand of Low Friction Coating in Healthcare Industry
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security