Global Markets for Friction Products and Materials
The global market for friction products and materials was valued at $13.8 billion in 2011 and is projected to reach nearly $14.7 billion in 2012, and $19.5 billion in 2017, a five-year compound annual growth rate (CAGR) of 5.9%.
The scope of this report is comprehensive, covering the present status of and future prospects for OE/aftermarket friction materials and products in North America (i.e., the United States and Canada), Western Europe, Japan, China, India, and other global markets. The North American market is covered in the greatest detail. The report covers diverse segments such as light vehicles, medium- and heavy-duty trucks, the automotive aftermarket, aircraft/aerospace, construction and other off-road equipment, and various industrial applications. These are analyzed in detail as well as technology developments, market conditions and opportunities, and 5-year forecasts. The role of new technologies is reviewed in this comprehensive report.
In order to generate the information necessary to construct a reasonable future market for friction materials, it is necessary to undertake an examination of the advantages and disadvantages of the various types of materials. In particular, environmental concerns are very significant for some types of friction materials. This report covers two types of friction materials:
- Dry friction materials, such as non-asbestos organic (NAO), semimetallic low-metallic, and asbestos friction materials.
- Wet-friction materials such as paper products.
In addition to various friction materials and products, the report also covers the many issues concerning the merits and future prospects of the business, including corporate strategies, technologies, and the means for providing these products and service offerings. It also covers in detail the social, political, regulatory, and economic issues that so many regard as critical to the industry’s current state of change. The report provides a review of the friction materials and products industry and its structure, and the many companies involved in providing these materials and technologies. The competitive position of the main players in the market and the strategic options they face are also discussed, as well as such competitive factors as marketing, distribution, and operations.
The values presented in the forecast tables represent the value of the friction products purchased by the OE manufacturers and other industrial companies. These measure value at the point of apparent consumption, regardless of where the friction product was manufactured. For materials, the values represent those paid by the friction product manufacturers. The volume data represent the consumption of these materials by the friction product manufacturers at the point of manufacture for these products, regardless of where the product is sold and used.
The author of the 2009 BCC study on which this report is based, Calvin Swift, has more than 25 years of 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 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 MS degree in industrial economics, and has completed other studies in business administration.
The analyst responsible for updating the report is Andrew McWilliams, a partner in the Boston-based international technology and marketing consulting firm, 43rd Parallel, LLC. Mr. McWilliams is the author of numerous other BCC studies of advanced materials and their applications, including:
- AVM038D Advanced Structural Carbon Products: Fibers, Foams and Composites.
- AVM056B Lightweight Materials in Transportation.
- AVM015F High-Performance Ceramic Coatings: Markets and Technologies.
- 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%.
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 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.