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Low Friction Coatings Market Trends

  • Report ID: GMI8243
  • Published Date: Feb 2024
  • Report Format: PDF

Low Friction Coatings Market Trends

In the market, several key trends are shaping the industry landscape. One prominent trend is the increasing demand for environmentally friendly and sustainable coating solutions. As industries worldwide prioritize sustainability and environmental responsibility, there is a growing preference for low friction coatings that minimize the use of harmful chemicals and reduce environmental impact.
 

Manufacturers are responding to this trend by developing eco-friendly formulations that offer high performance while adhering to stringent environmental regulations. This shift towards sustainability is driving innovation in the market, leading to the development of bio-based and non-toxic coatings that meet both performance and environmental criteria.
 

Another significant trend in the market is the rising adoption of nanotechnology for enhanced coating performance. Nanotechnology allows for the precise engineering of coatings at the molecular level, resulting in coatings with superior lubricity, wear resistance, and durability. Nanocoatings offer exceptional friction reduction properties, making them ideal for applications where minimizing friction is critical, such as automotive components, aerospace systems, and industrial machinery. As research in nanotechnology continues to advance, and manufacturing processes become more scalable, nanocoatings are expected to gain further traction in the market, driving continued growth and innovation in the industry.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Low friction coatings market was worth USD 858.2 million in revenue in 2023 and is anticipated to expand at over 6.3% CAGR between 2024 and 2032 driven by the increasing demand for energy-efficient solutions across various industries owing to the stringent regulations and sustainability initiatives.

The automotive segment reached USD 241.8 million in revenue in 2023 and is estimated to record substantial growth by 2032 owing to the increasing demand to reduce wear and improve efficiency in engine components and transmissions.

North America low friction coatings industry size generated USD 277.7 million in 2023 and is estimated to expand at a notable CAGR from 2024-2032 owing to the robust industrial infrastructure, high adoption of advanced technologies, and stringent regulatory standards in the region.

Some of the top firms engaged in the low friction coating industry are Afton Chemical Corporation, Akzo Nobel N.V., Bechem Lubrication Technology, Chemours Company, Daikin Industries, Ltd., DuPont Inc., Endura Coatings, Poeton Industries Ltd., Tiodize Co., Inc., and Whitford Corporation.

Low Friction Coatings Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 10
  • Tables & Figures: 532
  • Countries covered: 22
  • Pages: 300
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