Low Friction Coatings Market is segmented By Type (Molybdenum disulphide (MoS2), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy alkane (PFA), Iron phosphide (FEP), Graphite, Others), By End-User (Aerospace, Automobile & transportation, General engineering, Energy, Food and healthcare, Others), and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030
Low Friction Coatings Market Overview
Low Friction Coatings Market is expected to grow at a high CAGR 7.9% during the forecasting period (2023-2030).
Low friction coatings have grown significantly in the last few years. It is widely used in the chemicals sector to execute the process of fermentation. Molybdenum disulfide (MoS2), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy alkane (PFA) are the standard technologies used for Low Friction Coatings. Low friction coatings are used in a variety of industries, including aerospace, automobile and transportation, general engineering, oil, food and healthcare, and others. It is improving surface properties with respect to wettability, corrosion resistance, adhesion, and wear resistance.
Low Friction Coatings Market Scope
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Metrics |
Details |
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Market CAGR |
7.9% |
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Segments Covered |
By Type, By End-User, and By Region |
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Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Low Friction Coatings Market Dynamics and Trends
One of the major factors driving market growth in the coming years is the increasing use of low friction coatings in various industries. The market for low friction coatings is being driven by the growing automotive industry, strict environmental regulations, and increased demand for coatings that are suitable for medical devices. For low friction coatings, automobile and transportation were the fastest-growing end-user market. Moreover, the key players in the low friction coatings industry concentrate on product innovation and product enhancement. Limitations on the employment of some compounds like perfluorooctanoic acid and perfluoro octane sulfonate are restraints for the growth of the market.
Rising utilization of low friction coatings in different businesses
Low friction coatings are becoming more common in a variety of industries, including healthcare, automobiles, transportation, and others. The urge for low friction coatings is high in the food and healthcare segment since it initiates smooth contact between two surfaces and makes sure less degradation. In the automotive industry, low friction coatings increase wear resistance and longevity, which helps to improve the efficiency of the substrate to which they are applied. The call for low friction coatings has risen highly in the past few years as it assists in enhancing surface properties with respect to wettability, corrosion resistance, and wear resistance. The rising utilization of low friction coatings in different businesses has also been estimated to drive the market’s expansion in the forecast period.
Product innovation and enhancement by key players in the low friction coatings market
The major players in the low friction coatings industry concentrate on product innovation, mergers and acquisitions, and other strategic alliances to improve their global market position. The introduction of some latest coatings that are good for various business verticals is also estimated to create better prospects for the low friction coatings market. Although there is a superior expansion in the low friction coatings industry, the strict rules produced by government authorities about coatings production, in consideration of environmental harm, have suppressed the market's expansion.
COVID-19 Impact Analysis on Low Friction Coatings Market
The COVID-19 pandemic had a wide range of effects on the global economy, including direct effects on production and demand, supply chain instability, and financial impact. COVID-19 has directly impacted the manufacturers' supply chain across the globe and shut down the production facilities to minimize the risk of virus spread. Also, the lockdown policies have strengthened the demand for the chemical & material products undercoatings market across the globe. As a result, manufacturers have begun to invest in expanding their manufacturing capacities to meet the revised global consumer demand.
Despite the pandemic, there is growth in the overall chemical & material products and coatings market products, which are expected to drive the Low Friction Coating’s market size in the global market during the forecast period.
Low Friction Coatings Market Segment Analysis
Based on the type, the Low Friction Coatings market has been classified into molybdenum disulphide, Molybdenum disulfide (MoS2), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy alkane (PFA), Iron phosphide (FEP), tungsten disulfide.
The molybdenum disulphide segment accounted for the highest market share in the global market
Molybdenum disulphide (MoS2) is the most widely employed kind of low friction coatings. This segment is estimated to show the fastest growth during the forecast period due to its ability to perform under very high temperature and high-pressure environments. Furthermore, PTFE coatings are usually employed in applications where high wear resistance is needed and the working temperature is less as compared to molybdenum disulphide. Moreover, increasing demand for molybdenum disulphide products further drives the MoS2 segment in the global low friction coatings market during the forecast period.
Based on the end-use, the Low Friction Coatings market has been classified into aerospace, automobile & transportation, general engineering, energy, food & healthcare, and others.
Automobile & Transpotationsegment dominated the global Low Friction Coatings market in 2019
the automobile & transportation segmentation is showing the most rapid growth as compared to other segments. In the automobile market, utilizing low friction coatings display rising wear resistance and durability, which assist in enhancing performance. Furthermore, the expansion of end-use businesses in developing economies is estimated to foster the growth of the global low friction coatings market during the forecast period.
Global Low Friction Coatings Market Geographical Share
Based on geography, the study analyzes the Low Friction Coatings market in the global market, including North America, Europe, Asia-Pacific, South America, and the Middle East & Africa.
North America leads the global market throughout the forecast period.
North America dominates the global Low Friction Coatings market in terms of value and volume due to the presence of leading manufacturing companies and easy accessibility of premium quality Low Friction Coatings ingredients based on chemical & material products. It is also leading due to the growth in demand for Molybdenum disulfide (MoS2), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy alkane (PFA), Iron phosphide (FEP), and other products. In Europe, the growing demand for processed Molybdenum disulfide (MoS2), Polytetrafluoroethylene (PTFE), Perfluoroalkoxy alkane (PFA), Iron phosphide (FEP)products further enhances its market position in the global Low Friction Coatings market in the coming years.
The Asia Pacific is estimated to grow at the Low Friction Coatings market's highest growth rate during the forecast period. The growth of the region is primarily driven due to development and confectionery product consumption. The global companies are investing in the region to increase the export from the low-cost area, which is further expected to increase the Low Friction Coatings consumption in the domestic region during the forecast period.
Low Friction Coatings Market Companies and Competitive Landscape:
The Low Friction Coatings market is highly competitive, owing to the presence of big food brands. The key Low Friction Coatings players which are contributing to the growth of the global market include Dow Corning Corporation, AGC Chemicals Europe Ltd., Whitford Corporation, Poeton Industries, Gujarat Fluorochemicals Ltd., BECHEM, The Chemours Company, Daikin North America LLC, Whitmore Manufacturing Company, Uniflon America LLC, Everlube Products, Endure Coatings, among others. The major players are adopting new product launch and expansion strategies for global growth in the Low Friction Coatings market.
Dow Corning Corporation
Overview: Dow Corning Corporation is engaged in the manufacturing and distribution of chemical products. The company offers its products in different markets such as agriculture, feed, and animal care, automotive & transportation, beauty and personal care, building construction and infrastructure, chemical manufacturing and industrial, electronics, food and beverages, healthcare and hygiene, oil gas and mining, packaging, and other many more markets. It has operations in Africa, Asia Pacific, Central and Eastern Europe, Latin America, the Middle East, North America, and Western Europe. Dow Corning Corporation is headquartered in Michigan, United States.
Product Portfolio: The company's portfolio comprises chemicals, packaging, infrastructure, consumer products, and other products.
