Low Friction Coatings Market

Low Friction Coating Market Study by Molybdenum Disulfide (MoS2) and Polytetrafluoroethylene for Building & Construction, Automobiles & Transportation, Aerospace, Marine, and Others from 2023 to 2033

Analysis of Low Friction Coatings Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Low Friction Coating Market Outlook (2023 to 2033)

The global low friction coatings market stands at a value of US$ 915 million in the year 2023 and is anticipated to increase at a high-value CAGR of 6.7% and reach a market valuation of US$ 1.75 billion by 2033-end.

Low-friction coating are gaining popularity around the world due to their ability to improve surface properties, including corrosion resistance, wettability, wear resistance, and adhesion. Increasing application of low friction coating in various industries, including marine, aerospace, and others is expected to generate lucrative opportunities.

Manufacturers of low-friction coatings are developing novel products to match the rising requirement for application-specific products. In recent years, low-friction thin film coatings, which enable surfaces to rub against each other with less wear and friction are becoming popular around the world. Their popularity is also attributed to numerous environmental limits regarding the utilization of lubricants tighten.

Low-friction coatings are applied for the improvement of the tribological qualities of metal shaping and cutting tools. They are also used to improve the quality of machine components, including seals, valves, and sliding bearings. The application of super-hard and low-friction coatings in the automotive industry can provide increased fuel economy, environmental compatibility, and low-friction surface to advanced engine systems.

In the automotive sector, low-friction coatings are used to promote durability and wear resistance, which can aid in the substrate’s performance to which coatings are applied. In the transportation industry, low-friction coatings are used to assist in reducing pollution, vibration, and noise.

Low-friction coatings are used primarily to reduce friction between two surfaces. They are used efficiently to decrease the downtime required for cleaning. The booming medical and health sector can also contribute to increased sales of low friction coatings.

This recently published research report by Fact.MR, a provider of market research and competitive intelligence, says that there are certain obstacles that industry players need to overcome. Increasing concerns related to plastic waste can put limitations on the adoption of low friction coatings. Government regulations related to the toxicity of overheated polytetrafluoroethylene (PTFE) are predicted to hinder growth opportunities.

Report Attributes

Details

Market Size in 2023

US$ 915 Million

Projected Market Value (2033)

US$ 1.75 Billion

Global Market Growth Rate (2023 to 2033)

6.7% CAGR

Canada Market Growth Rate (2023 to 2033)

6% CAGR

Germany Market Growth Rate (2023 to 2033)

4.1% CAGR

Key Companies Profiled

  • Asv Multichemie Pvt., Ltd.
  • Whitford Corporation
  • Vitracoat America, Inc.
  • The Chemours Company
  • Poeton Industries Ltd.
  • Ikv Tribology, Ltd.
  • Harves Co., Ltd.
  • GMM Coatings Private Limited

Don't Need a Global Report?

save 40%! on Country & Region specific reports

What is Driving Substantial Demand for Low Friction Coatings?

“Development of New Food & Beverage Manufacturing Facilities”

Low friction coating are utilized in the food & beverages industry to assure food compatibility and cleanliness. They are utilized for sorting, filling, packing, molding, and printing equipment & machines used in the food industry. A noticeable expansion of new manufacturing facilities, which are used in the food & beverages industry can stimulate demand for low-friction coatings in the respective industry.

For instance :

  • Nestle, in October 2021, invested around US$ 550 million in Ohio, United States, for the development of new food processing facilities.
  • The Interroll food Processing and logistics complex, in July 2021, started to expand its manufacturing capacity in Baal, Germany. This initiative will add around 13,000 square meters to the area. The plant became fully operational in the year 2022.

Thus, the development of new facilities that are related to the food & beverage industry is predicted to generate huge demand for components and machines, thus contributing to increased sales of low friction coatings as well.

“Surging Demand for Low Friction Coatings from Medical Device Manufacturing Sector”

Low friction coatings are utilized in various medical devices, including surgical, dental, and others to increase the capacity of devices to maneuver through difficult anatomical paths. They are also used to lessen tissue damage and improve device control while ensuring improved patient comfort.

For instance :

  • The Mexican medical device market reached a valuation of US$ 15 billion in the year 2020, according to ITA (International Trade Administration).
  • According to Invest India, the medical device segment in India is estimated to reach a value of more than US$ 50 billion by the end of 2024.

Thus, significant growth in the medical device industry is anticipated to bolster demand for low-fabrication coatings around the world.

“Automobile and Transportation Industry to Account for High Demand for Low Friction Coatings”

Low friction coatings offer improved service and performance life. They also ensure the protection of surfaces from synthetic substances and heat. Implementation of super-hard and low-friction coatings in the automotive industry offers increased durability, increased fuel economy, and environmental compatibility.

  • Worldwide sales of electric cars doubled in the year 2021 compared to 2020, according to the International Energy Agency (IEA). They reached a count of 6.6 million in the same year. Their sales increased at a substantial speed with a sale of 2 million EVs in the first quarter of 2022.

Economic stability, changes in consumer sentiment, and evolving digital technology are estimated to play a significant role in the non-commercial business practices to manufacture vehicles, which will put a direct impact on the demand for low-friction coatings.

Which Factors Will Affect Demand Growth for Low Friction Coating?

“Fluctuations in Prices of Raw Materials”

Various basic ingredients, including tetrahydrofuran, acetone, trichloroethylene, or methanol are used in the production of low friction coatings. Shortage of some critical raw materials and a considerable increase in their price can adversely impact their demand.

For instance :

  • The price of solvent increased at a noticeable rate in January 2021, according to a monthly raw material prices study conducted by BCF (British Coatings Federation). The prices of acetone, n-butyl, IPA, and n-butanol increased by 123%, 91%, 41%, and 54% respectively.

Thus, constant fluctuations in the costs of raw materials, which are used in the manufacturing of low friction coatings, can limit market expansion opportunities.

Low friction coatings market CAGR value, segment and forecast by Fact.MR

Why is Asia Pacific Projected to Be the Most Promising Regional Market?

“Substantial Growth in Transport Industry in the Region”

Asia Pacific held a substantial share of the revenue, which was around 45% of the total, in the year 2022. Noteworthy economic growth in the regional countries is led by the growth of different sectors, including aerospace, automotive, and others. Rising commercial industries and other similar variables can drive growth in the aerospace and automotive sectors.

For instance :

  • According to OICA (Organisation Internationale des Constructeurs d’Automobiles), the production of light commercial vehicles was more than 4,668,000 units in Asia Pacific in 2020. With an increase of 9%, this count reached more than 5,099,000 units in the year 2021.

More Insights, Lesser Cost (-50% off)

Insights on import/export production,
pricing analysis, and more – Only @ Fact.MR

Country-wise Insights

Why Should Suppliers of Low Friction Coatings Invest in the United States?

“Rising Demand for Low Friction Coatings from Several End-use Industries”

The United States market was valued at more than US$ 228.5 million in 2022. The sales of low friction coatings are increasing in the United States due to their demand from different end-use industries, including building & construction, automobiles, food & beverages, and others.

What is the Scenario for Low Friction Coating Sales in Japan?

“Rapid Industrialization Driving Need for Low Friction Coatings”

Japan market is projected to progress at a moderate CAGR of 3.6% from 2023 to 2033. Rapid industrialization in Japan is predicted to stimulate requirements for low friction coatings in different end-use industries, including automobile, etc.

Which Determinates Will Contribute to Increased Demand for Low Friction Coatings in Germany?

“Presence of Key Automobile Manufacturers in Germany”

German market is anticipated to advance at a steady CAGR of 4.1% from 2023 to 2033. The presence of prominent automotive manufacturers including Volkswagen, Audi, BMW, Mercedes-Benz, and Porsche in Germany is contributing to increased demand for low friction coatings there.

Category-wise Insights

Why is Demand for Molybdenum Disulfide (MoS2) Low Friction Coatings Increasing Substantially?

“Advanced Surface Protection Features of Molybdenum Disulfide (MoS2) Low Friction Coatings”

Based on product, the industry is classified into molybdenum disulfide (MoS2), polytetrafluoroethylene (PTFE), and others. Among these, molybdenum disulfide low friction coatings are predicted to hold a noticeable revenue share while growing at a CAGR of 6.2% through 2033.

Molybdenum disulfide low friction coatings can create a lubricating layer, which is clean, dry, and impervious to dust, moisture, greases, oils, or other contaminations. Thus, they are not subject to evaporation, oxidation, and aging. Molybdenum disulfide low friction coatings prevent rust without the requirement for any additional surface protection solution.

Non-staining and a non-flammable layer of protection are also provided to plastics and metals by molybdenum disulfide low friction coatings. They contain load-bearing capacities due to the presence of controlled film thickness in these coatings. Thus, based on these features, the sales of molybdenum disulfide low friction coatings are increasing globally.

Which Aspects are Contributing to Increased Demand for Low Friction Coatings in the Automobiles & Transportation Sector?

“Rising Sales of Low Fabrication Coatings for Protection of Automobiles”

Building & construction, aerospace, automobiles & transportation, electrical & electronics, marine, food & beverages, chemicals, medical & healthcare, and others are some key end-use industries, which are fueling demand for low-friction coatings. Among these, the automobile & transportation sector is estimated to contribute with a noticeable revenue share and is expected to progress at a CAGR of 6.4% through 2033.

Different types of low friction coatings are used in transport vehicles, including vessels, aircraft, passenger cars, etc. to prolong their service life. They protect parts from wear and tear. Booming transport production, rising adoption of passenger cars, etc. are accelerating growth in the automotive industry.

For instance :

  • According to data provided by the Organisation Internationale des Constructeurs d’Automobiles (OICA), in the year 2021, around 80,146,000 automobile units were produced in 2020 across the globe.

Competitive Landscape

Key providers of low friction coatings are increasing their expenditure to maintain product standards. They are also taking initiatives to strengthen their supply chain management systems.

The incorporation of advanced technologies and new product development are adopted by key players to attract consumers in the market.

For instance :

  • PPG, in April 2022, acquired Arsonsisi to maximize its reach across Europe and enhance its business for low-friction coatings. The latter is based in Milan and is an industrial coatings company.
  • The FUCHS Group, in June 2021, acquired Gleitmo Technik AB’s lubricants business in Kungsbacka, Sweden. This acquisition broadened the product portfolio of The FUCHS Group.

Leading companies in the low friction coatings market are Asv Multichemie Pvt., Ltd., Whitford Corporation, Vitracoat America, Inc., The Chemours Company, Poeton Industries Ltd., Ikv Tribology, Ltd., Harves Co., Ltd., and GMM Coatings Private Limited.

Segmentation of Low Friction Coating Industry Research

  • By Product :

    • Molybdenum Disulfide (MoS2)
    • Polytetrafluoroethylene (PTFE)
    • Others
  • By End Use :

    • Building & Construction
    • Automobile & Transportation
    • Aerospace
    • Marine
    • Electrical & Electronics
    • Food & Beverages
    • Medical & Healthcare
    • Chemicals
    • Others
  • By Formulation :

    • Water-based
    • Powder-based
    • Solvent-based
    • Others
  • By Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

What is the current valuation of the low friction coatings market?

The global low friction coatings market is valued at US$ 915 million in 2023.

At what rate will the sales of low friction coatings progress through 2033?

The market for low friction coatings is projected to expand at a CAGR of 6.7% from 2023 to 2033.

At what CAGR is the demand for low friction coatings projected to advance in Canada?

Demand for low friction coatings is set to rise at a CAGR of 6% in Canada.

At what rate will the sales of low friction coatings increase in the automobile & transportation sector?

Consumption of low friction coatings is forecasted to rise at a CAGR of 6.4% in the automobile and transportation sector.

What is the predicted value of the low friction coatings market for 2033-end?

The low friction coatings market is anticipated to reach a value of US$ 1.75 billion by the end of 2033.

Who are key global suppliers of low friction coatings?

Key manufacturers of low friction coatings are Asv Multichemie Pvt., Ltd., Whitford Corporation, Vitracoat America, Inc., The Chemours Company, Poeton Industries Ltd., and Harves Co., Ltd.

Low Friction Coatings Market