Zero Friction Coatings Market
Zero Friction Coatings Market - Global Industry Assessment & Forecast
- By Type Polytetrafluoroethylene, Molybdenum Disulfide, Other Types
- By Formulation Solvent-based Coatings, Water-based Coatings, Powder Coatings
- By End Use Automobile & Transportation, Aerospace, General Engineering, Food & Healthcare, Energy, Other End Uses
- By Region North America, Europe, Asia Pacific, Latin America, Middle East & Africa
|Forecast Years:||2023 - 2030|
|Historical Years:||2017 - 2021|
|Revenue 2022:||USD 842.9 Million|
|Revenue 2030:||USD 1250.76 Million|
|Revenue CAGR (2023 - 2030):||5.8%|
|Fastest Growing Region (2023 - 2030)||Asia Pacific|
|Largest Region (2022):||Asia Pacific|
- Cross-segment Market Size and Analysis for Mentioned Segments
- Additional Company Profiles (Upto 5 With No Cost)
- Additional Countries (Apart From Mentioned Countries)
- Country/Region-specific Report
- Go To Market Strategy
- Region Specific Market Dynamics
- Region Level Market Share
- Import Export Analysis
- Production Analysis
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The global Zero Friction Coatings Market is valued at USD 842.9 Million in 2022 and is projected to reach a value of USD 1250.76 Million by 2030 at a CAGR (Compound Annual Growth Rate) of 5.8% over the forecast period.
Zero Friction Coatings are a coating that provides slippery surfaces that allow viscous liquids, gels, and emulsions to slide freely. The critical fabrication techniques include incorporating nanoparticles and polymer binders, layer-by-layer, nano-encapsulation, and liquid impregnation to create Zero Friction Coatings. The global Zero Friction Coatings market is expected to grow at an incremental pace during the forecast period owing to rising demand owing to their lubricating and corrosion protection against various elements. Additionally, these coats increase the wear and tear life of a product. Rising demand from various industries such as automotive, energy, and aerospace is propelling the global Zero Friction Coatings market growth. Studies indicate that utilization of Zero Friction Coatings makes the product less degradable.
Various properties for Zero Friction Coatings market include vacuum and radiation resistance, dry and clean lubrication to be not affected by dust, non-flammability, and no oxidation is expected to increase the footprint of the global market. Low friction coatings can also avoid noises which makes them suitable for a wide variety of materials for the application. Zero Friction Coatings improve performance, safety, and reliability by extending lubrication intervals, controlling wear and friction, preventing component failure, and reducing operational and production costs. They are often applied by various methods, such as dipping, spraying, or using paint drums. Various centrifuges can also be used for applying Zero Friction Coatings, which is expected to increase the market's footprint.
The popularity of Zero Friction Coatings has been increasing during recent years owing to their ability to improve surface properties such as wettability, corrosion resistance, adhesion, and wear resistance. The growing application of low-friction coatings within various end-use industries, such as the automotive, healthcare, and construction sectors, contributes to the global market. Low-friction thin film coatings allow surfaces to rub against one another with less friction and wear. They are growing in popularity owing to their environmentally friendly nature and reduced operational costs. They are used to improve the tribological qualities of metal cutting and shaping tools and machine components such as sliding bearings, seals, and valves. This will augment the growth of the global Zero Friction Coatings market.
Zero Friction Coatings Market Size, 2022 To 2030 (USD Million)
The global economy is expected to be heading toward a global recession in 2023 as various simultaneous rates are hiking. Central banks across the globe are increasing hike rates simultaneously in response to battle inflation. A string of financial crises within emerging and developing economies is expected to be the major contributor to bad economic health. In 2022, Central banks worldwide were raising interest at a rate not seen over the past five decades. This trend is likely to continue into the following year. The current conflict between Russia and Ukraine began in February 2014, wherein Russia annexed the territory of Ukraine, Crimea, as its own. Fighting ensued for the first time in 8 years in 2014, later diminished during naval incidences, cyber warfare, and heightened political tensions.
Top Market Trends
1. Rising End-Use Industries: The global Zero Friction Coatings market is expected to grow with a dominant growth trajectory owing to their lubricating and corrosive properties. This leads to an increase in the wear and tear life of a component. These components are increasing in demand from various end-use industries such as automotive, energy, and aerospace. Additionally, rising demand from the healthcare sector will contribute to the growth of the global Zero Friction Coatings market to grow at an incremental growth.
2. Increasing Applications of PTFE-based Low Friction Coatings: During the forecast period, it is expected that the increasing utilization of PTFE-based low-friction coatings will be on the rise. Various end-use industries such as automotive & transportation, aerospace, general engineering, and the food & beverage sector are expected to propel the growth of the Zero Friction Coatings market. In the coming years, increasing industrialization and urbanization will increase PTFE-based low-friction coatings sales.
3. Growing Technological Advancements: The numerous advantages of Zero Friction Coatings include vacuum & radiation resistance and the ability to be unaffected by non-flammability. The current round of development is being made toward improving low-friction coatings. Low friction coatings provide an improved performance and service life while dispensing the requirement for wet lubricants within a working environment that can expect protection from heat, synthetic substances, or cleanroom conditions.
The global Zero Friction Coatings market can be categorized on the following: Type, Formulation, End-Use, and Regions. Based on type, the market can be categorized into polytetrafluoroethylene, molybdenum disulfide, and others. By formulation, the market can be segmented across solvent-based coatings, water-based coatings, and powder coatings. Based on end-use, the market can be split between automobile & transportation, aerospace, general engineering, food & healthcare, energy, and others. By Likewise, based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
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Based on Type
Molybdenum Disulphide (MoS2) to Dominate Market Owing to Excellent High Loading Capacity
The global Zero Friction Coatings market is expected to be dominated by the molybdenum disulfide segment in terms of growth and revenue. MoS2 carrying a higher load-carrying capacity and excellent adhesive properties, are expected to add value to the segmental growth. Also, MoS2 is considered to be a dry film lubricant that can prevent galling, fretting, and seizing. This increases the wear and tear resistance while operating at a higher temperature range. MoS2 coating solutions are used for critical equipment and parts in corrosion management, which is expected to increase the footprint of the segmental value. The polytetrafluorethylene segment is expected to grow with the fastest growing CAGR during the forecast period owing to its attributable properties, such as higher dielectric strength and heat tolerance.
Based on Formulation
Solvent-Based Segment to Account for Largest Market Share Owing to Rising Environmental Awareness
Solvent-based segments will lead the global Zero Friction Coatings market in terms of revenue and share during the forecast period. Solvent-based coatings are exceptionally environmentally friendly. Additionally, solvent-based coatings can function in extremality humid and temperature-based environments. These factors are expected to increase the footprint of the segmental value. Water-based solvents are expected to grow with the fastest growing CAGR during the forecast period owing to attributable properties such as lower volatile organic compounds (VOCs) and resilience towards accelerated aging exposure.
Based on End-Use
Automotive And Transportation to Fuel Largest Market Share Owing to Rising Sales and an Expanding Sector
The automotive and transportation segment is expected to account for the largest market share during the forecast period in revenue and share. Zero Friction Coatings offer an ideal solution for automobiles where they are used for reducing cabin noise. This is a priority function in automobiles these days. Rising sales of automobiles are expected to contribute to the segmental value. Rising adoption of electric vehicles combined with increasing disposable income among the general population is expected to fuel the growth of the Zero Friction Coatings market. Food and healthcare are expected to grow with the fastest growing CAGR during the forecast period owing to the rising need for coatings for parts used on food packaging and processing equipment.
Based on Region
Asia Pacific to Dominate Global Market Owing to Rising Automotive Manufacturing Industries
The global Zero Friction Coatings market is expected to be dominated by the region of Asia Pacific in terms of revenue and share. Factors such as the presence of a large automotive manufacturing industry in the region combined with rising automotive sales from emerging economies such as China, South Korea, Japan, and India. These factors are expected to contribute to the Asia Pacific Zero Friction Coatings market growth. Additionally, the region is home to leading automotive manufacturers such as Honda, Toyota, Ford, and BMW. The expanding automotive industry in the region will increase the footprint of the regional market. According to the International Trade Administration, China will be the largest automotive market globally in domestic manufacturing.
Europe will grow with the fastest-growing CAGR during the forecast period owing to a rapidly growing automotive sector. According to the European Automobile Manufacturers Association, commercial production in Europe is expected to grow by 4.9% in 2021 despite the supply chain restrictions.
The global Zero Friction Coatings market is expected to be fragmented due to the presence of numerous players. These players are expected to dominate their perspective market share by acquiring like-minded and smaller firms to increase their regional presence. Additionally, the market leaders are focused on acquisitions and mergers and expanding their product portfolio to cater to a broader consumer base. Also, these players are investing heavily in their research and development departments to accelerate market growth.
The key players in the global Zero Friction Coatings market include - Endura Coatings (U.S.), DuPont de Nemours Inc. (U.S.), VITRACOAT (U.S.), Poeton (UK), Bechem (Germany), ASV Multichemie Private Limited (India), GMM Coatings Private Limited (U.S.), IKV Tribology Ltd. (UK), Blagden Specialty Chemicals Ltd. (UK), Glanbia PLC (Ireland) among others.
· April 2022: PPG acquired Arsonisisi, an industrial coating company based in Milan. This acquisition is expected to help the company expand its business for low-friction coatings and maximize its particular put in Europe.
· June 2021: The FUCHS Group announced that they were acquiring the business of Gleitmo Technik AB in Kungsbacka, Sweden. Throughout this acquisition, the company is expected to broaden its product portfolio.
· June 2020: Poeten Industries announced that they were launching their long line of ground-breaking surface treatments. The Glucester-based company announced that they were launching Apticode 480A, which will be a new composite coating that will combine the properties of nickel and fluoropolymer. The advanced coating will build on the solid Poeten history of developing innovative solutions.
Segmentation of the Global Zero Friction Coatings Market
|Regions & Countries Covered||
|Report Coverage||Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, technology landscape, patent analysis, market attractiveness analysis by segments and North America, company market share analysis, and COVID-19 impact analysis|
Frequently Asked Question
What is the global demand for Zero Friction Coatings in terms of revenue?
The global Zero Friction Coatings valued at USD 842.9 Million in 2022 and is expected to reach USD 1250.76 Million in 2030 growing at a CAGR of 5.8%.
Which are the prominent players in the market?
The prominent players in the market are Endura Coatings (U.S.), DuPont de Nemours Inc. (U.S.), VITRACOAT (U.S.), Poeton (UK), Bechem (Germany), ASV Multichemie Private Limited (India), GMM Coatings Private Limited (U.S.), IKV Tribology Ltd. (UK), Blagden Specialty Chemicals Ltd. (UK), Glanbia PLC (Ireland).
At what CAGR is the market projected to grow within the forecast period?
The market is project to grow at a CAGR of 5.8% between 2023 and 2030.
What are the driving factors fueling the growth of the market.
The driving factors of the Zero Friction Coatings include
- Increasing Application in the Automotive Industry
Which region accounted for the largest share in the market?
Asia Pacific was the leading regional segment of the Zero Friction Coatings in 2022.