The low friction coatings market is projected to reach USD 810.4 Million by 2021, at a CAGR of 5.7% from 2016 to 2021. Growing end-use industries and changing needs of consumers have fueled the demand for new and advanced low friction coatings. The development of various new and efficient low friction coatings has led to the use of the coatings in various new applications.
Based on type, the low friction coating market has been segmented into molybdenum disulfide, PTFE, and others. Molybdenum disulfide (MoS2) is the most widely used type of low friction coatings. The molybdenum disulfide (MoS2) low friction coatings segment is expected to witness rapid growth during the forecast period, due to their ability to perform under very high temperature and high pressure environments. PTFE coatings are generally used in applications where high wear resistance is required and the operating temperature is low.
The low friction coatings market has also been segmented based on end-use industries, such as aerospace, automobile & transportation, general engineering, energy, food & healthcare, among others. The growth of end-use industries in emerging economies is expected to boost the growth of low friction coating market.
Asia-Pacific is expected to be the fastest-growing market for low friction coatings, due to rapid growth in end-use industries, such as automobile & transportation, food & healthcare, and general engineering. The growth of the manufacturing industry in Asia-Pacific has led to increased demand for low friction coatings in Asia-Pacific.
Growing automobile industry has led to increasing demand for low friction coatings, globally. Asia-Pacific is one of the fastest-growing markets for several manufacturing industries, which has fueled the demand for low friction coatings in the region. India is expected to be the fastest-growing market for low friction coatings during the forecast period.
Key Market Drivers:
Growing Automobile Industry and Need for Better User Experience
Tightening Environment Regulations on Use of Conventional Lubricants and Increased Cost of Disposal
Growing Demand for Medical Devices Coatings
ASV Multichemie Pvt., Ltd.
GMM Coatings Pvt., Ltd.
Harves Co., Ltd.
IKV Tribology, Ltd.
Whitmore Manufacturing Company
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Industry Trends
7 Global Low Friction Coatings Market, By Type
8 Low Friction Coatings Market, By End-Use Industry