Low Friction Coating Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 3.16 Billion |
| Market Size (2029) | USD 4.42 Billion |
| CAGR (2024 - 2029) | > 6.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Low Friction Coating Market Analysis
The Low Friction Coating Market size is estimated at USD 3.16 billion in 2024, and is expected to reach USD 4.42 billion by 2029, growing at a CAGR of greater than 6.90% during the forecast period (2024-2029).
- Factors driving the market include the increasing demand for low-friction coatings in the aerospace industry and increasing applications in the automotive industry across major economies.
- However, government regulations on the toxicity of PTFE (polytetrafluoroethylene) are expected to hinder the market's growth.
- The growing demand for flow-friction coating in the healthcare industry is expected to act as an opportunity for the market studied in the coming years.
- During the forecast period, the low friction coating market is estimated to register the fastest growth and be the most dominant in Asia-Pacific.
Low Friction Coating Market Trends
Increasing Demand for Low Friction Coating in the Automotive and Transportation Industry
- Low-friction coatings possess extremely low coefficients of friction (COF), excellent release properties for resistance to galling, fretting, and sticking, high corrosion resistance, and many other benefits.
- Therefore, there is an increasing demand for low-friction coatings in the Automotive and Transportation Industry driven by the need for improved fuel efficiency, reduced emissions, and enhanced performance, as well as the adoption of new technologies like electrification and autonomous vehicles.
- Moreover, the rising volume of vehicle production globally is propelling the demand even further. For instance, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production globally increased from 84.83 million units in 2022 to 93.54 million units in 2023, representing a growth of 17% year-on-year.
- Furthermore, according to the European Automobile Manufacturers Association, in the first three quarters of 2023 (January 2023 to September 2023), the total production of cars in Europe increased by almost 14% compared to the same period in 2022. This substantially boosted the demand in the low-friction coating market.
- The automotive industry is expected to grow significantly over the coming years. Evolving digital technology, changes in customer sentiment, and economic health have played a vital role in non-commercial business practices of manufacturing vehicles.
- For instance, various automotive manufacturing companies such as Hyundai Motor Group, BMW Group, Toyota, Honda, Ford Motor Company, and General Motors have announced investments in electric vehicle manufacturing in North Carolina, Michigan, Ohio, Missouri, Kansas, and other states. This is likely to boost automotive manufacturing, thereby increasing the demand for low-friction coating.
- Hence, the automotive and transportation industry is projected to exhibit the highest demand for low-friction coating during the forecast period, solidifying its dominance in the market.
Asia-Pacific to Witness the Fastest Growth
- Asia-Pacific is expected to dominate the market during the forecast period. The rising demand for low-friction coatings, combined with the growing automotive and healthcare industry in countries like China and India, is expected to drive the demand for low-friction coatings in this region.
- The largest producers of low-friction coating are based in Asia-Pacific. Some of the leading companies in the production of low-friction coating are VITRACOAT, Daikin Industries, The Chemours Company, Dow, and ASV Multichemie Private Limited.
- China is the world's largest automobile market in terms of production and sales. According to the China Association of Automobile Manufacturers (CAAM), vehicle production in China reached 30.16 million units in 2023, growing 11.6% compared to the previous year.
- Furthermore, according to the Society of Indian Automotive Manufacturing (SIAM) data, in the financial year 2023, India manufactured 4.58 million vehicles, marking a notable increase from the 3.65 million produced in 2022—a growth rate of about 25%.
- According to the Boeing Commercial Outlook 2021-2040, in China, around 8,700 new deliveries will be made by 2040, with a market service value of USD 1,800 billion.
- Furthermore, the construction sector of Malaysia grew in 2023, with a total of 9,144 projects successfully implemented until September 2023, according to Public Works Minister Datuk Seri Alexander Nanta Linggi. In addition, there has been an increase in the country's investments in various commercial construction projects. For instance, Google invested around USD 2 billion in developing the country’s first data center and a Google Cloud hub in May 2024. The new hubs will be developed at a business park in central Malaysia’s Selangor state to meet the growing demand for IT services and artificial intelligence literacy programs for Malaysian students and educators.
- Given the above-mentioned facts and factors, the demand for low-friction coatings is expected to increase at the fastest rate in the Asia-Pacific market during the forecast period.
Low Friction Coating Industry Overview
The global low-friction coating market is consolidated. Some of the major companies in the market include (not in any particular order) PPG Industries Inc., The Chemours Company, DuPont, Klüber Lubrication, and Daikin Industries Ltd.
Low Friction Coating Market Leaders
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The Chemours Company
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DuPont
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Klüber Lubrication
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PPG Industries, Inc.
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DAIKIN INDUSTRIES, Ltd.
*Disclaimer: Major Players sorted in no particular order
Low Friction Coating Market News
- May 2024: IHI Hauzer Techno Coating BV and IHI Ionbond, both subsidiaries of IHI Corporation, partnered to offer a total solution for PVD coating development, coating services, and equipment for PEMFC (proton-exchange membrane fuel cells) and PEMWE (proton exchange membrane water electrolysis).
- March 2024: PPG Industries Inc. announced the launch of the PPG Nexeon 810 coating. This copper-free antifouling solution prioritizes vessel performance, emissions reduction, and sustainability. Thanks to their superior fouling control capabilities, vessels can experience an immediate power boost of up to 10% and a 15% enhancement in operational efficiency.
- April 2022: PPG Industries Inc. acquired Arsonsisi, an industrial coatings company based in Milan, Italy. This acquisition is expected to help the company enhance its business for low-friction coatings and maximize its reach throughout Europe.
- February 2022: Curtiss-Wright Surface Technologies partnered with BioCote to expand its fluoropolymer coating product range and create Fluregiene 200, an antimicrobial coating ideal for many surfaces and environments, including those applicable to a wide range of parts and components such as door handles, elevator buttons, airport seating, and gym equipment.
Low Friction Coating Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumption and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Increasing Application in the Automotive Industry
4.1.2 Growing Demand for Low-friction Coating in Aerospace Industry
4.2 Restraints
4.2.1 Government Regulation on Toxicity of Overheated PTFE
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Volume)
5.1 By Type
5.1.1 Molybdenum Disulphide
5.1.2 Tungsten Disulphide
5.1.3 Polytetrafluoroethylene (PTFE)
5.1.4 Other Types
5.2 By End-user Industry
5.2.1 Automotive and Transportation
5.2.2 Aerospace and Defense
5.2.3 Healthcare
5.2.4 Construction
5.2.5 Oil and Gas
5.2.6 Others End-user Industries
5.3 By Application
5.3.1 Bearings
5.3.2 Automotive Parts
5.3.3 Power Transmission Items
5.3.4 Valve Components and Actuators
5.3.5 Other Applications
5.4 By Geography
5.4.1 Asia-Pacific
5.4.1.1 China
5.4.1.2 India
5.4.1.3 Japan
5.4.1.4 South Korea
5.4.1.5 Malaysia
5.4.1.6 Thailand
5.4.1.7 Indonesia
5.4.1.8 Vietnam
5.4.1.9 Rest of Asia-Pacific
5.4.2 North America
5.4.2.1 United States
5.4.2.2 Canada
5.4.2.3 Mexico
5.4.3 Europe
5.4.3.1 Germany
5.4.3.2 United Kingdom
5.4.3.3 France
5.4.3.4 Italy
5.4.3.5 Spain
5.4.3.6 NORDIC Countries
5.4.3.7 Turkey
5.4.3.8 Russia
5.4.3.9 Rest of Europe
5.4.4 South America
5.4.4.1 Brazil
5.4.4.2 Argentina
5.4.4.3 Colombia
5.4.4.4 Rest of South America
5.4.5 Middle East and Africa
5.4.5.1 Saudi Arabia
5.4.5.2 Qatar
5.4.5.3 United Arab Emirates
5.4.5.4 Nigeria
5.4.5.5 Egypt
5.4.5.6 South Africa
5.4.5.7 Rest of Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share(%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AFT Fluorotec Ltd
6.4.2 ASV Multichemie Private Limited
6.4.3 Carl Bechem GmBH
6.4.4 DAIKIN INDUSTRIES Ltd
6.4.5 DuPont
6.4.6 Endura Coatings
6.4.7 Curtiss-Wright Corporation
6.4.8 FUCHS
6.4.9 GGB
6.4.10 IHI HAUZER TECHNO COATING BV
6.4.11 IKV Tribology Ltd
6.4.12 Impreglon UK Limited
6.4.13 Indestructible Paint Limited
6.4.14 Klüber Lubrication (Freudenberg SE)
6.4.15 Micro Surface Corp.
6.4.16 Poeton
6.4.17 PPG Industries Inc.
6.4.18 The Chemours Company
6.4.19 VITRACOAT
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Demand for Low Friction Coating in Healthcare Industry
Low Friction Coating Industry Segmentation
Low-friction coatings have a low coefficient of friction, varying from 0.05 to 0.2. They provide improved service life and performance while eliminating the need for wet lubricants in operating environments that require resistance to chemicals, heat, or clean room conditions. The use of low-friction coatings for various materials such as aluminum, steel, magnesium, titanium, plastic, rubber, and carbon fiber solves friction problems in various applications.
The market is segmented by type, end-user industry, application, and geography. By type, the market is segmented into molybdenum disulfide, tungsten disulfide, polytetrafluoroethylene (PTFE), and other types. By end-user industry, the market is segmented into automotive and transportation, aerospace and defense, healthcare, construction, oil and gas, and other end-user industries (general engineering, food, etc.). By application, the market is segmented into bearings, automotive parts, power transmission items, valve components and actuators, and other applications (pistons, conveyor belts, etc.). The report also covers the market size and forecast for low friction coating in 27 countries across major regions. For each segment, the market sizing and forecast have been done based on value (USD).
| By Type | |
| Molybdenum Disulphide | |
| Tungsten Disulphide | |
| Polytetrafluoroethylene (PTFE) | |
| Other Types |
| By End-user Industry | |
| Automotive and Transportation | |
| Aerospace and Defense | |
| Healthcare | |
| Construction | |
| Oil and Gas | |
| Others End-user Industries |
| By Application | |
| Bearings | |
| Automotive Parts | |
| Power Transmission Items | |
| Valve Components and Actuators | |
| Other Applications |
| By Geography | |||||||||||
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Low Friction Coating Market Research FAQs
How big is the Low Friction Coating Market?
The Low Friction Coating Market size is expected to reach USD 3.16 billion in 2024 and grow at a CAGR of greater than 6.90% to reach USD 4.42 billion by 2029.
What is the current Low Friction Coating Market size?
In 2024, the Low Friction Coating Market size is expected to reach USD 3.16 billion.
Who are the key players in Low Friction Coating Market?
The Chemours Company, DuPont, Klüber Lubrication, PPG Industries, Inc. and DAIKIN INDUSTRIES, Ltd. are the major companies operating in the Low Friction Coating Market.
Which is the fastest growing region in Low Friction Coating Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Low Friction Coating Market?
In 2024, the Asia Pacific accounts for the largest market share in Low Friction Coating Market.
What years does this Low Friction Coating Market cover, and what was the market size in 2023?
In 2023, the Low Friction Coating Market size was estimated at USD 2.94 billion. The report covers the Low Friction Coating Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Low Friction Coating Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Low Friction Coating Industry Report
The Global Low Friction Coating Market Report provides a comprehensive industry overview, segmented by type, end-user industry, application, and geography. This market report offers valuable market data, including market size and market share, with detailed market analysis and market trends. The report highlights the market segmentation across various regions, including Asia-Pacific, North America, Europe, South America, and the Middle East and Africa.
Key insights from the industry research indicate significant market growth driven by advancements in automotive parts, power transmission items, valve components, and actuators. The market forecast predicts substantial growth in the industry size, supported by the increasing demand in the automotive, aerospace, healthcare, transportation, and construction sectors.
The industry analysis reveals that molybdenum disulphide, tungsten disulphide, and polytetrafluoroethylene (PTFE) are the primary types of low friction coatings contributing to the market value. The report pdf provides a detailed market outlook, including market leaders and market predictions, offering an in-depth market review and industry statistics.
Furthermore, the industry reports emphasize the importance of low friction coatings in bearings and ammunition components, reflecting the industry's growth rate and market segmentation. This report example serves as a crucial resource for research companies and industry stakeholders, providing an extensive industry outlook and market overview.
For a detailed examination of the market trends and industry information, the report pdf is available for download, ensuring comprehensive industry research and valuable insights into future market growth.
