Anti-friction coatings market is expected to grow at 5.3% CAGR from 2021-2031, Says FACT.MR

Posted on 2021-04-07 by Future Market Insights, Inc in Chemicals // 0 Comments

Anti-Friction Coatings Market: Overview and Dynamics

Anti-Friction coatings are a type of lubricant solution that are similar in formulation to common industrial paints. It comprises of solid lubricants and resins as solvents. The main components of solid lubricants are molybdenum disulphide, Polytetrafluoroethylene (PTFE) and graphite.

The most preferred way of applying anti-friction coatings is immersion or by spraying carefully onto the degreased surfaces. There are other methods as well like electrostatic method of spraying.

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With technological advancements throughout the world, the uses of advance machinery are emerging. The performance expectation from those advance machines are so high and timely maintenance would also be needed for the same.

Lubrication and proper greasing is the key to maintain machines for better operating experiences. However, common liquid oils and greases do not work that much efficacy in certain circumstances and extreme conditions. In those cases, the anti-friction coating plays a vital role so that the advance machine works up to the mark.

The anti-friction coatings market is expected to grow at a rate of CAGR 5.3% from 2021-2031. The anti-friction coatings market giants are consistently putting efforts to come up with innovation and faster solution to climb the market share ladder.

A company named “Bechem” is using microcapsule technology for high-performance anti-friction coatings. Other technologies like molybdenum disulfide (MoS2), fluoropolymer, silicon epoxy are currently being used by many top companies in the US.

The demand for anti-friction coatings is growing up, various industries like healthcare, automobile, transportation, oil & gas are advocating the same. Among all the industries, the demand for anti-friction coatings is higher in the transportation industry. In transportation industry, the uses of anti-friction coatings help to reduce noise, emission and vibration in vehicles.

Although the limitations of uses of certain compounds like perfluorooctanoic acid and perfluoro octane sulfonate are affecting the growth of the anti-friction coatings market. Moreover, key market players in the anti-friction coatings market are now focusing on innovation and improvement of their product.

Introduction of a new product type by the players as per market requirement and targeting that to different industry verticals is also aiding the market growth.

COVID-19 Impact Insights

Due to COVID-19 pandemic, lockdown imposed across the globe and almost every sector and markets were broken down, anti-friction coatings market is also one among them. The pandemic created a history of harsh financial condition and lower growth in maximum sectors which lead to economic disruption and imbalance of supply and demand equilibrium.

The impact of COVID-19 has negatively affected several world economies. Governments across the glove have enacted several rules and regulations, including total blockage and quarantine methods, to combat COVID-19, which has had massive impacts in various areas of business.

In the first quarter of 2020, several countries were affected by COVID-19 and the anti-friction coating market also affected by a large ratio which leads to an unexpected pause in the production process, financial activities and consumption pattern in the anti-friction coatings market.

The second quarter of 2020 experienced a great financial loss and challenging economic conditions, plants were shut down in leading producing regions like the US, the UK where the uses of anti-friction coatings was high which led to low productivity of anti-friction coatings and which remained to continue for the next quarter.

Consistently upgrading workplace safety measures and COVID-19 guidelines for worker safety would help the market to bounce back strongly best by the first quarter of 2021.

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Segmentation Analysis of Anti-Friction Coatings Market

The global anti-friction coatings market is bifurcated into four major segments: product type, end-use, and region.

On the basis of product type, the anti-friction coatings market has been segmented as follows:

Berucoat
- Heat Curing
- Air Curing
Plasma Coating
Powdered
Water-based

Berucoat is a type of product used for anti-friction coating, there are several subtypes of the product, categories on heat curing and air curing type. This product type dominates the overall demand pie and is well known for its versatility.

On the basis of end-use, the anti-friction coatings market has been segmented as follows:

Industrial
- Oil & Gas
- Petrochemical
- Water & Wastewater
- Marine
- Others
Dry Lubrication
Automotive
Military
Food Processing
Packaging
Others

On the basis of geographic regions, the Anti-Friction coatings market is segmented as

North America
Europe
Latin America
East Asia
South Asia and Oceania
Middle East & Africa

Anti-Friction Coatings Market: Regional Outlook

Based on the regional split, the report “Anti-Friction Coatings Market” takes into account six prominent regions including North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Among all the regions, Asia Pacific has shown more growth in terms of capturing the highest market, this is so because of the vast healthcare and automotive sector along with rapid industrialization in Asia. India will experience drastic growth during the forecast period because of its growth potential and demand in the market.

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China along with Japan, Thailand and Malaysia are set to remain the lucrative regions witnessing high consumption of anti-friction coatings. Growth in automotive, food, packaging and waste water treatment industries to raise the bars higher for anti-friction coatings consumption till 2031.

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