Low Friction Coatings Market Size and
Growth Rate:
The Low Friction Coatings Market is expected to exceed USD XX
million by 2023 and grow at a compound annual rate of XX% from 2018 to 2023.
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Low Friction Coatings Market Growth
Drivers and Restraints:
The growing demand for low-friction coatings is seen in
different industries such as automobile, healthcare, transportation, and some
others. The demand for low-friction coatings is high in food and healthcare
sector because it facilitates smooth contact between two surfaces and ensures
less degradation. In the automobile industry, using low-friction coatings
display increases wear resistance and durability that helps in improving the
performance of the substrate to which it is applied.
Low-friction coatings are also utilized in the transportation
industry as it helps in reducing noise, vibration, and emissions in vehicles.
Increasing employment of low-friction coatings in various industries has also
expected to lead the market’s growth in the near future. Additionally,
companies involved in manufacturing low-friction coatings are developing
application-specific products or advanced products to meet the growth in the
forecast period
Some of the major restrict factors in the market focusing on
product innovation and product improvement. Introduction of new coatings
suitable for different industry verticals is expected to create rewarding
prospects for the low-friction coatings market. Moreover, decreasing the use of
a few compounds such as perfluorooctanoic acid and perfluorooctanoic sulfate is
restricting the market’s growth.
Geographical
Overview of Low Friction Coatings Market:
Based on the geography, the global low-friction coatings
market is categorized into mainly five regions of Latin America, Europe, Asia
Pacific, Middle East, and Africa, and North America. Of all these regions, the
Asia Pacific is likely to offer lucrative increasing opportunity as
industrialization is growing at a rapid pace.
Rising demand for low-friction in the end-user industries
such as automobile and transportation, is expected to stimulate the demand for these
coatings in this region. Economically developed counties in Europe and North
America are expected to grow substantially in the coming years. In addition,
the Middle East and Africa are small markets for low friction coatings.
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Key Players of Low Friction Coatings Market:
Some of the prominent players operating in the market are Dow
Corning Corporation, Whitford Corporation, Whitmore Manufacturing Company,
Endura Coatings, Poeton Industries, The Chemours Company, and Everlube
Products. They are also investing in various business development strategies to
increase their geographical reach and get a firm hold in the market. Primary
players in the market are engaged in product development and product innovation
to maintain their position in the global market.
Low Friction Coatings Market
Segmentation:
By Type:
·
MoS2 (Molybdenum
disulfide)
·
PTFE
·
Graphite
By End User:
·
Aerospace
·
Automotive
·
Food
Processing
·
Industrial
Application
·
Packaging
·
Wind
Energy
By Application:
·
Immersion
·
Spraying
By Region:
·
North
America
·
South
America
·
Europe
·
Asia
Pacific
·
Middle
East and Africa
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