Anti-Friction Coatings Market: Overview and Dynamics
Anti-Friction coatings are a type of lubricant solution that are similar in formulation to common industrial paints. It comprises of solid lubricants and resins as solvents. The main components of solid lubricants are molybdenum disulphide, Polytetrafluoroethylene (PTFE) and graphite. The most preferred way of applying anti-friction coatings is immersion or by spraying carefully onto the degreased surfaces. There are other methods as well like electrostatic method of spraying.
With technological advancements throughout the world, the uses of advance machinery are emerging. The performance expectation from those advance machines are so high and timely maintenance would also be needed for the same. Lubrication and proper greasing is the key to maintain machines for better operating experiences. However, common liquid oils and greases do not work that much efficacy in certain circumstances and extreme conditions. In those cases, the anti-friction coating plays a vital role so that the advance machine works up to the mark.
The anti-friction coatings market is expected to grow at a rate of CAGR 5.3% from 2021-2031. The anti-friction coatings market giants are consistently putting efforts to come up with innovation and faster solution to climb the market share ladder. A company named “Bechem” is using microcapsule technology for high-performance anti-friction coatings. Other technologies like molybdenum disulfide (MoS2), fluoropolymer, silicon epoxy are currently being used by many top companies in the US.
The demand for anti-friction coatings is growing up, various industries like healthcare, automobile, transportation, oil & gas are advocating the same. Among all the industries, the demand for anti-friction coatings is higher in the transportation industry. In transportation industry, the uses of anti-friction coatings help to reduce noise, emission and vibration in vehicles. Although the limitations of uses of certain compounds like perfluorooctanoic acid and perfluoro octane sulfonate are affecting the growth of the anti-friction coatings market. Moreover, key market players in the anti-friction coatings market are now focusing on innovation and improvement of their product.
Introduction of a new product type by the players as per market requirement and targeting that to different industry verticals is also aiding the market growth.
COVID-19 Impact Insights
Due to COVID-19 pandemic, lockdown imposed across the globe and almost every sector and markets were broken down, anti-friction coatings market is also one among them. The pandemic created a history of harsh financial condition and lower growth in maximum sectors which lead to economic disruption and imbalance of supply and demand equilibrium. The impact of COVID-19 has negatively affected several world economies. Governments across the glove have enacted several rules and regulations, including total blockage and quarantine methods, to combat COVID-19, which has had massive impacts in various areas of business.
In the first quarter of 2020, several countries were affected by COVID-19 and the anti-friction coating market also affected by a large ratio which leads to an unexpected pause in the production process, financial activities and consumption pattern in the anti-friction coatings market.
The second quarter of 2020 experienced a great financial loss and challenging economic conditions, plants were shut down in leading producing regions like the US, the UK where the uses of anti-friction coatings was high which led to low productivity of anti-friction coatings and which remained to continue for the next quarter.
Consistently upgrading workplace safety measures and COVID-19 guidelines for worker safety would help the market to bounce back strongly best by the first quarter of 2021.
Segmentation Analysis of Anti-Friction Coatings Market
The global anti-friction coatings market is bifurcated into four major segments: product type, end-use, and region.
On the basis of product type, the anti-friction coatings market has been segmented as follows:
- Heat Curing
- Air Curing
- Plasma Coating
Berucoat is a type of product used for anti-friction coating, there are several subtypes of the product, categories on heat curing and air curing type. This product type dominates the overall demand pie and is well known for its versatility.
On the basis of end-use, the anti-friction coatings market has been segmented as follows:
- Oil & Gas
- Water & Wastewater
- Dry Lubrication
- Food Processing
On the basis of geographic regions, the Anti-Friction coatings market is segmented as
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East & Africa
Anti-Friction Coatings Market: Regional Outlook
Based on the regional split, the report “Anti-Friction Coatings Market” takes into account six prominent regions including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.
Among all the regions, Asia Pacific has shown more growth in terms of capturing the highest market, this is so because of the vast healthcare and automotive sector along with rapid industrialization in Asia. India will experience drastic growth during the forecast period because of its growth potential and demand in the market.
China along with Japan, Thailand and Malaysia are set to remain the lucrative regions witnessing high consumption of anti-friction coatings. Growth in automotive, food, packaging and waste water treatment industries to raise the bars higher for anti-friction coatings consumption till 2031.
After Asia, North America is also growing at a faster rate and expected to hold good market potential during the forecast period of 2021-2031. Presence of key coating manufacturers coupled with investments in advanced technology to foray the regional market. Europe closely follows North America as the region has sound presence of key automakers and is also known as the hub for petrochemical industry. Moreover, the anti-friction coatings market in Middle East and Africa tend to grow with moderate CAGR during the forecast period.
Anti-Friction Coatings Market: Key Players
The world anti-friction coatings market structure is partially consolidated. The companies which are focusing on their R&D sector are one step ahead to improve their products as the product with more uniqueness would attract consumers and simultaneously the probability of sales will be high. Bechem, The Donwell Co., Inc., U.S. Chrome Corporation, Reparex-RPX, Sun Coating Company, Matrix Coatings Corp., American Roller Company, Metal Coatings Corp., Aalberts Surface Treatment, are among the leading players in the anti-friction coatings market.
Common growth strategies followed by the anti-friction coatings market players to improve coatings quality, production and niche grades are witnessed across the players in the global market. Many companies have already started investing in their anti-friction coatings market expansion and advancements so that their product makes a unique impact throughout the region. In the year 2016, Dow Corning Corporation came up with a new product in the anti-friction coatings market, the product had a glossy look which made an impact in the automobile industry and fulfils their functional needs. In the same year Chemours announced a Teflon finishes plant in China with an investment of US$ 15 Mn.
In addition, the acquisitions and the establishment of long-term supply contracts with municipalities and industries offer an advantage to the players in the anti-friction coatings market. Nevertheless, regional conglomeration which includes Asia and Africa start supporting the local manufacturers is leading to a challenging environment for global players offering their products at a higher price which in turn is significantly hampering the overall anti-friction coatings market revenues.
The research report presents a comprehensive assessment of the anti-friction coatings market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The anti-friction coatings market report provides analysis and information, according to market segments such as geographies, product type, properties and end-use.
The Anti-Friction Coatings Market Report Covers Exhaustive Analysis On:
- Anti-Friction Coatings Market Segments
- Anti-Friction Coatings Market Dynamics
- Anti-Friction Coatings Market Size & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
The Anti-Friction Coatings Market Regional Analysis Includes:
- North America (U.S., Canada)
- Latin America (Mexico, Brazil, Argentina, Chile, Peru)
- Europe (UK, Germany, Spain, France, BENELUX, Italy, Rest of Europe)
- East Asia (China, Japan, South Korea)
- South Asia & Oceania (India, ASEAN, Australia and New Zealand, Rest of South Asia & Oceania)
- The Middle East and Africa (GCC Countries, South Africa, Northern Africa, Turkey, Rest of MEA)
The Anti-Friction Coatings Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts, and industry participants across the value chain. The Anti-Friction Coatings Market report provides an in-depth analysis of parent market trends, macroeconomic indicators, and governing factors along with market attractiveness as per segments. Anti-Friction Coatings Market report also maps the qualitative impact of various market factors on market segments and geographies.
The Anti-Friction Coatings Market Report Highlights:
- A detailed overview of the anti-friction coatings market
- Changing Anti-Friction Coatings market dynamics in the industry
- In-depth Anti-Friction Coatings market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on anti-friction coatings market performance
- Must-have information for Anti-Friction Coatings market players to sustain and enhance their market footprint
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