May 2, 2019

Low Friction Coatings Market is projected to reach USD xx million by 2023

Low Friction Coatings Market Size and Growth Rate:

The Low Friction Coatings Market is expected to exceed USD XX million by 2023 and grow at a compound annual rate of XX% from 2018 to 2023.

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Low Friction Coatings Market Growth Drivers and Restraints:

The growing demand for low-friction coatings is seen in different industries such as automobile, healthcare, transportation, and some others. The demand for low-friction coatings is high in food and healthcare sector because it facilitates smooth contact between two surfaces and ensures less degradation. In the automobile industry, using low-friction coatings display increases wear resistance and durability that helps in improving the performance of the substrate to which it is applied.

Low-friction coatings are also utilized in the transportation industry as it helps in reducing noise, vibration, and emissions in vehicles. Increasing employment of low-friction coatings in various industries has also expected to lead the market’s growth in the near future. Additionally, companies involved in manufacturing low-friction coatings are developing application-specific products or advanced products to meet the growth in the forecast period

Some of the major restrict factors in the market focusing on product innovation and product improvement. Introduction of new coatings suitable for different industry verticals is expected to create rewarding prospects for the low-friction coatings market. Moreover, decreasing the use of a few compounds such as perfluorooctanoic acid and perfluorooctanoic sulfate is restricting the market’s growth.

Geographical Overview of Low Friction Coatings Market:

Based on the geography, the global low-friction coatings market is categorized into mainly five regions of Latin America, Europe, Asia Pacific, Middle East, and Africa, and North America. Of all these regions, the Asia Pacific is likely to offer lucrative increasing opportunity as industrialization is growing at a rapid pace.

Rising demand for low-friction in the end-user industries such as automobile and transportation, is expected to stimulate the demand for these coatings in this region. Economically developed counties in Europe and North America are expected to grow substantially in the coming years. In addition, the Middle East and Africa are small markets for low friction coatings.

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Key Players of Low Friction Coatings Market:

Some of the prominent players operating in the market are Dow Corning Corporation, Whitford Corporation, Whitmore Manufacturing Company, Endura Coatings, Poeton Industries, The Chemours Company, and Everlube Products. They are also investing in various business development strategies to increase their geographical reach and get a firm hold in the market. Primary players in the market are engaged in product development and product innovation to maintain their position in the global market.

Low Friction Coatings Market Segmentation:

By Type:

·        MoS2 (Molybdenum disulfide)

·        PTFE

·        Graphite

By End User:

·        Aerospace

·        Automotive

·        Food Processing

·        Industrial Application

·        Packaging

·        Wind Energy

By Application:

·        Immersion

·        Spraying

By Region:

·        North America

·        South America

·        Europe

·        Asia Pacific

·        Middle East and Africa

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