The demand for low-friction coatings has grown significantly in the last few years as it helps in improving surface properties with respect to wettability, corrosion-resistance, adhesion, and wear-resistance. Growing employment of low-friction coatings in various industries has also projected to drive the market’s growth in the near future. Moreover, companies involved in manufacturing low-friction coatings are developing advanced products to meet the growing demand for application-specific products The global low-friction coatings market could be classified on the basis of end-use, product type, and geography. Based on the product type, the molybdenum disulfide segment is likely to hold a maximum amount of share due to high wear resistance over the coming years.
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The report is developed by using advanced research methodologies and standard analytical tools.
It will help stakeholders in understanding projections and growth behavior, which will guide them in making better strategic decisions for their firms. Trends and opportunities coupled with challenges are also presented in the report for players and investors to formulate winning strategies. Vendor landscape, regional analysis, and segmentation are provided in the report.The demand for low-friction coatings is seen in various industries such as healthcare, automobile, transportation, and many 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 substrate to which it is applied. Low-friction coatings is also used in the transportation industry as it helps in reducing noise, vibration, and emissions in vehicles.
Furthermore, key players in the low-friction coatings market focusing on product innovation and product improvement. Introduction of new coatings suitable for different industry verticals is also expected to create rewarding prospects for the low-friction coatings market. However, limitations on the use of a few compounds such as perfluorooctanoic acid and perfluoroctane sulfonate are restricting the market’s growth.
The global low-friction coatings market is categorized into mainly five regions Europe, Asia Pacific, the Middle East and Africa, Latin America, and North America. Of these regions, Asia Pacific is likely to offer lucrative growth opportunity as industrialization is growing at a rapid pace. Growing demand for low-friction in the end-use industries such as transportation and automobile is also expected to drive the demand for low-friction coatings in this region. Developed economies in Europe and North America are expected to grow substantially in the coming years. However, the Middle East and Africa are small markets for low friction coatings.
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The report on the low-friction coatings market provides the details about the leading players operating in the market. Some of the prominent players mentioned in the report are Whitfold Corporation, Dow Corning Corporation, Whitmore Manufacturing Company, Poeton Industries, Endura Coatings, The Chemours Company, and Everlube Products. Leading players in the market are engaged in product development and product innovation to maintain their position in the global market. They are also investing in various business development strategies to increase their geographical reach and get a firm hold in the market.