Global Friction Materials Market to reach USD 92.60 million by 2033 with a CAGR of 4.90%.

From GlobeNewswire: 2024-07-23 15:00:00

The Global Friction Materials Market is set to expand from USD 57.40 Million in 2023 to USD 92.60 Million by 2033, with a CAGR of 4.90%. Friction materials, such as rubber and metals, are crucial in brakes, clutches, and industrial machinery. Factors driving market growth include technological advancements and demand from the automotive and industrial sectors. Asia Pacific is expected to dominate the market, with North America showing the highest growth potential. Major players in the market include Akebono Brake Industry Co., Ltd. and Nisshinbo Brake Inc. Recent developments include Nisshinbo Holdings selling TMD Friction Group to AEQUITA SE & Co. KGaA. Market segments include type, application, and end-user industry, with regional analysis covering North America, Europe, Asia Pacific, and more. Spherical Insights & Consulting provides comprehensive market research and consulting services to help businesses achieve their objectives. Get more details at https://www.sphericalinsights.com/.



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