The Friction Products & Materials Market
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%.
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%.
The aircraft and aerospace sectors of the market remain the fastest growing, with a 4.5% CAGR throughout the forecast period.
The goal of this report is to provide a detailed and comprehensive multi-client study of the global market for friction products and materials in light vehicles, medium and heavy-duty trucks, aircraft, and other industrial applications as well as potential business opportunities in the future. Greater detail, however, is provided for North America. The report covers both OE (original equipment) markets and the aftermarket. Its objectives include thorough coverage of the underlying economic issues driving the friction products and materials business, as well as assessments of new and potential products that companies are developing. Social, political, and regulatory issues are also covered, as are international markets. Another important objective is to provide realistic market data and forecasts for friction products and materials.
SCOPE OF STUDY
This report contains:
- Details on the North American friction materials and products market, broken down by ground transportation, aircraft/aerospace, and industrial sectors
- The history of the market, as well as detailed five-year forecasts with CAGRs through 2012.
- Analysis of important technological developments
- A detailed patent analysis
- Profiles of all the top players within the industry.
The research methodology was qualitative in nature and employed a triangulating approach, which aids validity. Initially, a comprehensive and exhaustive search of the literature on friction materials and products was conducted. These secondary sources included automotive and related journals and books, trade literature, marketing literature, other product/promotional literature, annual reports, security analyst reports, and other publications.
In a second phase, a series of semi-structured interviews were conducted with marketing executives, engineers, business unit managers, design engineers, and other personnel at the friction materials and products companies. Other sources included academics, technology and materials suppliers, technical experts, trade association officials, government officials, and consulting companies. These were a rich source of data. Subsequent analysis of the documents and interview notes was iterative.
The author has over 20 years experience in competitive intelligence, industrial market research, planning and marketing at major corporations, market research consultancies, and think tanks. He advises and briefs management about economic and industry conditions, strategic developments, and the effects of proposed developments in the light vehicle industry as well as in plastics, metals, and other materials. The author has employed scenario analysis to investigate and research the future of industry to identify the impact of globalization, consolidation, demographics, changing industry structure, and technological innovation. His particular interest lies in the interaction of strategy, economic and industry developments, and innovation. He holds a BA and a MA degree in industrial economics, and has completed other studies in business administration.
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.
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.
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.
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.