Report Highlights
- The ground transportation segment of the friction products and materials market was worth more than $5.8 billion in 2008. That was expected to decline slightly to $5.5 billion in 2009, and rise to 8.1 billion in 2014, for a 5- year compound annual growth rate (CAGR) of 8%.
- The aircraft/aerospace market is the smallest of the segments, but is expected to rise slightly from 2008 to 2009, $938 million to $941 million, and increase at a CAGR of 7.7% to reach nearly $1.4 billion in 2014.
- The industrial segment, combined with other smaller segments, amounted to nearly $4.7 billion in 2008, but is expected to decline to less than $4.3 billion in 2009. A rebound is projected for 2014, however, to nearly $6.3 billion, for a CAGR of 8%.
INTRODUCTION
Audiences for this study include marketing executives, business unit managers, and other decision-makers in friction products and materials companies. Technology suppliers, suppliers of plastic resins and other materials, and other companies peripheral to this business also represent a key audience.
- Dry friction materials, such as non-asbestos organic (NAO), semimetallic low-metallic, and asbestos friction materials
- Wet-friction materials such as paper products
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Report Highlights
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The North American friction products and materials market was worth $6.9 billion in 2006. By the end of 2007, the market will be worth slightly less, taking a dip to $6.8 billion. By the end of 2012, the market will be worth 7.7 billion with a compound annual growth rate (CAGR) of 2.6%.
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Ground transportation will maintain the highest share of the market throughout the forecast period. By the end of 2006 the market was worth $3.9 billion, 57.3% of the market. By 2012, this share will drop slightly to 55.8%.
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The aircraft and aerospace sectors of the market remain the fastest growing, with a 4.5% CAGR throughout the forecast period.
Report Highlights
REPORT HIGHLIGHTS
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The global market for friction products and materials is estimated at $6.8 billion in 2003 and is expected to rise at an average annual growth rate (AAGR) of 2.6% to reach $7.75 billion in 2008.
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Both original equipment and aftermarket ground transportation applications represent the largest single market for friction materials, accounting for 55% of the total, but features the lowest growth.
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Friction materials in aircraft/aerospace, a segment drastically affected by the 1990s reduction of defense spending and the aftermath of September 11th, accounts for 10% of the total. It is now growing at an AAGR of 4.5% over the long term.
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Railway, construction and other off-road, oilfield, and other industrial applications typically account for the remaining 35%, and is expected to rise at an AAGR of 2.9% during the forecast period.
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