Sales of Zero Friction Coatings Market to flourish at a 6% CAGR from 2023 to 2033; reaching US$ 1.57 Billion: FMI Report
NEWARK, Del, Dec. 16, 2022 (GLOBE NEWSWIRE) -- It is predicted that the market for zero friction coatings would be worth US$ 879 million in 2023 and US$ 1,575.59 million in 2033. In the predicted…
NEWARK, Del, Dec. 16, 2022 (GLOBE NEWSWIRE) -- It is predicted that the market for zero friction coatings would be worth US$ 879 million in 2023 and US$ 1,575.59 million in 2033. In the predicted period from 2023 to 2033, the growth rate is expected to be close to 6%.
The fact that these coatings reduce friction and wear, resulting in reduced fuel consumption and less heat output, can be linked to growth. The European Automobile Manufacturers' Association estimates that 79.1 million motor cars were produced worldwide in 2021, an increase of 1.3% from the previous year. Zero friction coatings can prolong the interval between component upkeep and replacement, particularly for machine parts with high manufacturing costs.Wear-resistant plastic seals are used in a number of automotive applications that demand lifetime service confidence and zero tolerance for failure.
Over the projected period, the product is expected to experience rising demand from the automotive industry globally for a variety of applications, including fuel pumps, automatic gearboxes, oil pumps, braking systems, and others. High pressure, high temperatures, and vacuums are examples of harsh situations where low friction coatings can be used. In settings that need chemicals, heat, or clean room conditions, these coatings can improve service life and performance by doing so, negating the need for wet lubricants.
Products ideal for non-reinforced plastics are those free of molybdenum disulfide (MoS2), whilst those containing MoS2 are acceptable for reinforced plastics.Get 30% Discount Before it's Gone - Request Sample Report__URL__ URL friction coatings are paint-like substances made of submicron-sized solid lubricant particles that have been spread using solvents and resin mixtures. The substance can be applied using customary painting methods as brushing, dipping, or spraying. The anti-corrosion abilities, coefficient of friction, and service life of the product are significantly influenced by the film's thickness.
Its thickness need to be larger than the mated surfaces' surface roughness.Key Takeaways from Market StudyIn 2022, molybdenum disulfide emerged as the dominant type segment by contributing around 50% of the revenue share. The automobile & transportation was the dominating end-use segment accounting for a revenue share of more than 35% in 2022 due to the rapid growth of the automotive industry across the globe.The energy end-use segment is anticipated to grow at a CAGR of 5.7% in terms of revenue by 2033.In Asia Pacific, the market is projected to witness the highest CAGR of 5.8% over the predicted years. "Properties of zero friction coatings such as vacuum & radiation resistance, dry and clean lubrication that is not affected by dust, non-flammability, and no oxidation are predicted to foster the product demand over the forecast period," says an analyst at Future Market Insights.Request Customization URL URL Market PlayersMajor players are channelling efforts toward expanding their production capacities to strengthen their market share and cater to the growing demand. Market expansion is anticipated to be aided by the growing number of partnerships and collaborations among key players that are looking to increase their presence in the market. Key players in the zero friction coatings market are Endura Coatings; DuPont; VITRACOAT; Poeton; Bechem; ASV Multichemie Private Limited; GMM Coatings Private Limited; and IKV Tribology Ltd.
Some of the recent key developments among key players are:In June 2020, Poeton Industries launched the latest in a long line of ground-breaking surface treatments. The Gloucester based company has launched Apticote 480A, a new composite coating that combines the properties of nickel and fluoropolymer materials into one problem-solving solution. The new advanced coating builds on the strong Poeton history of developing innovative solutions.
The treatment has been created in the Poeton Research & Development Laboratory led by Dr John Archer and builds on the success of existing nickel-polymer treatments. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.Table of Content1.
Executive Summary 1.1. Global Market Outlook 1.2. Demand-side Trends 1.3.
Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations2.
Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations3.
Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2.
Restraints 3.1.3. Opportunity 3.1.4..
The global business is projected to witness a growth rate of 2.3% over the forecast period of 2022 and 2030.Precipitated Barium Sulphate Market Trends: The global precipitated barium sulphate market registered a year-on-year (YoY) growth of 3.6% in 2022, reaching a value of US$ 712.0 Mn by 2022. Demand in the precipitated barium sulphate market is projected to witness a growth rate of 3.8% CAGR between 2022 and 2030.Potassium Sulfate Market Growth: The global potassium sulphate market registered a year-on-year (YoY) growth of 4.9% in 2021. Future Market Insights (FMI) forecasts the market value to top US$ 4,742.0 Mn in 2022.
Demand for potassium sulphate is projected to grow at 4.8% CAGR between 2022 and 2029.About Future Market Insights, Inc.Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions.
80% of the largest Forbes 1000 enterprises are our clients.