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Low Friction Coatings Market Share

Report ID: GMI8243
Published Date: Feb 2024
Report Format: PDF

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Low Friction Coatings Market Share

Low Friction Coatings Market Company Share, (2023)

The market leaders such as Chemours Company, Whitford Corporation, DowDuPont Inc., and Daikin Industries, Ltd., specialize in developing and supplying coatings aimed at reducing friction and enhancing the performance of various industrial components and systems. These companies offer a wide range of coating solutions, including PTFE coatings, fluoropolymer coatings, and Teflon coatings, tailored to meet the specific needs of different industries such as automotive, aerospace, manufacturing, and medical.

Leveraging advanced research and development capabilities, they continuously innovate to improve coating formulations, enhancing properties such as wear resistance, durability, and environmental sustainability. With a focus on providing high-quality and cost-effective solutions, these market players play a pivotal role in driving innovation and growth in the market.

The growth of the low friction coatings market is fueled by several key drivers, including the increasing demand for energy-efficient solutions across industries. As regulations become stricter and sustainability concerns rise, there is a growing emphasis on minimizing frictional losses to improve overall system efficiency and reduce energy consumption.

Additionally, the expansion of key end-user industries such as automotive, aerospace, and electronics further drives market growth, as these sectors increasingly rely on low friction coatings to enhance performance, reliability, and longevity of their products. Furthermore, advancements in coating technologies and materials, coupled with rising investments in research and development, continue to expand the application scope of low friction coatings, driving market growth and competitiveness among key players.

Low Friction Coatings Market Companies

Major players operating in the low friction coatings industry include:

Afton Chemical Corporation
Akzo Nobel N.V.
Bechem Lubrication Technology
Chemours Company
Daikin Industries, Ltd.
DuPont Inc.
Endura Coatings
Poeton Industries Ltd.
Tiodize Co., Inc.
Whitford Corporation

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Low friction coatings market was worth USD 858.2 million in revenue in 2023 and is anticipated to expand at over 6.3% CAGR between 2024 and 2032 driven by the increasing demand for energy-efficient solutions across various industries owing to the stringent regulations and sustainability initiatives.

The automotive segment reached USD 241.8 million in revenue in 2023 and is estimated to record substantial growth by 2032 owing to the increasing demand to reduce wear and improve efficiency in engine components and transmissions.

North America low friction coatings industry size generated USD 277.7 million in 2023 and is estimated to expand at a notable CAGR from 2024-2032 owing to the robust industrial infrastructure, high adoption of advanced technologies, and stringent regulatory standards in the region.

Some of the top firms engaged in the low friction coating industry are Afton Chemical Corporation, Akzo Nobel N.V., Bechem Lubrication Technology, Chemours Company, Daikin Industries, Ltd., DuPont Inc., Endura Coatings, Poeton Industries Ltd., Tiodize Co., Inc., and Whitford Corporation.