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The zero friction coatings market size is estimated to grow at a CAGR of 5.6% between 2022 and 2027. The market size is forecast to increase by USD 267.8 million. The growth of the market depends on several factors, including the increasing demand in end-user industries, the growing focus on reducing maintenance and repair costs, and the advancements in coating technology.
This zero friction coatings market report extensively covers market segmentation by end-user (automobile and transportation, food and healthcare, energy, general engineering, and others), type (PTFE-based coatings and MOS2-based coatings), and geography (APAC, North America, Europe, South America, and Middle East and Africa). It also includes an in-depth analysis of drivers, trends, and challenges. Furthermore, the report includes historic market data from 2017 to 2021.
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The increasing demand from end-user industries is notably driving the market growth, although factors such as the high cost of zero friction coatings may impede the market growth. Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increasing demand from end-user industries is the key factor driving the growth of the global zero-friction coatings market. The global anti-friction coating market is growing due to increasing demand from various end-use industries. Anti-friction coatings on surfaces reduce friction and wear, extend machine and equipment life, and reduce maintenance costs. As a result, many industries are turning to anti-friction coatings to improve the performance of equipment and machinery. The automotive industry is one of the industries driving the demand for frictionless coatings. Coatings are used on engine parts such as bearings and pistons to reduce friction and improve fuel economy.
Moreover, the aerospace industry is another sector driving demand for frictionless coatings. This coating is used on aircraft engines and other components to reduce wear critical to aircraft safety and reliability. The healthcare industry also adopts zero-friction coatings because they reduce friction and wear, leading to longer-lasting medical equipment. For instance, medical implants such as joint replacements and stents require zero friction coatings to reduce the chances of wear and tear. This leads to a decrease in the frequency of surgeries and hospitalizations, reducing healthcare costs. Therefore, the increasing demand from end-user industries such as automotive, aerospace, and healthcare is driving the growth of the global zero friction coatings market during the forecast period.
Increasing use of nanotechnology is the primary trend shaping the global zero friction coatings market growth. The use of nanotechnology in developing the coating has significantly improved performance. According to the Society of Automotive Engineers (SAE), using a nanotechnology-based coating reduced engine friction by up to 25% and improved fuel economy by 5%. The use of nanotechnology in developing the coating has improved reliability and extended component life. According to NASA Glenn Research, nanotechnology-based coatings have reduced wear and tear on aerospace components by up to 80%, resulting in significant cost savings and improved safety.
As industries such as automotive, aerospace, and healthcare continue to demand more efficient, reliable, and long-lasting components, the use of nanotechnology in the development of zero friction coatings is expected to increase, providing significant opportunities for manufacturers and suppliers of these coatings such as enhanced product performance, increased efficiency, etc. Therefore, the increasing use of nanotechnology in developing zero-friction coatings is fueling the growth of the global zero-friction coatings market during the forecast period.
The high cost of zero friction coatings is a major challenge impeding the growth of the global zero friction coatings market. The high cost of anti-friction coatings is a major obstacle to their widespread adoption in various industries and applications such as automotive and energy. Anti-friction coatings can cost up to ten times more than traditional lubricants such as mineral oil, greases, and synthetic oils that have restricted use in the automotive and industrial equipment industries. A typical motor oil costs about USD 20 a gallon, while an anti-friction coating costs as much as USD 200 a gallon. This makes it difficult for manufacturers to justify the use of antifriction coatings, especially when conventional lubricants can provide adequate protection at a much lower cost.
In the healthcare industry, the cost of zero friction coatings is also a significant barrier to their adoption, particularly for patients who may not have access to the necessary insurance coverage. For example, a zero-friction coating for a joint replacement can cost up to USD 500, a significant expense for many patients. This limits the use of zero friction coatings in medical applications, despite their effectiveness in reducing wear and tear. Therefore, the high cost of zero friction coatings is a significant barrier to their wider adoption in various industries and applications, which can challenge the growth of the global zero friction coatings market during the forecast period.
The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Zero Friction Coatings Market Customer Landscape
Vendors are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
3M Co.: The company offers low friction coatings used for pump and turbine, concrete repairs, and storage tanks.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak.
The market share growth by the automobile and transportation segment will be significant during the forecast period. The automobile and transportation segment comprises various industries that involve the movement of goods and people from one place to another, including automotive, aerospace, marine, and rail transportation.
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The automobile and transportation segment was valued at USD 268.97 million in 2017 and continued to grow until 2021. In the automotive industry, zero friction coatings reduce wear and tear, improve fuel efficiency, and enhance the performance of various automotive parts such as engines, transmissions, and suspensions. These coatings can also reduce automobile noise, vibration, and harshness (NVH) levels, improving the driving experience. Similarly, in the rail transportation industry, zero friction coatings reduce wear and tear on railway components such as tracks, wheels, and axles. These coatings also reduce the noise levels of trains and improve the overall comfort and safety of passengers. Therefore, using zero friction coatings in automobile and transportation industries offers numerous benefits, including improved performance, increased durability, reduced maintenance costs, and improved efficiency. Thus, this segment will contribute to the growth of the global zero-friction coatings market during the forecast period.
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APAC is estimated to contribute 47% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. The zero friction coatings market in the APAC region is expected to experience significant growth during the forecast period. The market is being driven by factors such as increasing demand from the automotive and aerospace industries, as well as raising awareness of the benefits of these coatings in reducing wear and tear and extending the lifespan of the equipment.
The growth is further attributed to the presence of automotive manufacturing industries in the countries such as Japan, South Korea, and China. The Association of Southeast Asian Nations (ASEAN) is the world seventh-largest automotive manufacturing hub, producing around 3.5 million vehicles in 2021. The region has a presence of some of the leading automotive manufacturers, including Honda, Toyota, Ford, BMW, and others. The growing automobile industry in the region is predicted to fuel the demand for zero friction coatings during the forecast period.
The COVID-19 pandemic significantly impacted the zero friction coatings market in APAC in 2020. However, in 2021, due to the large-scale vaccination drive with the easing of restrictions, several business and industrial activities resumed, as aerospace, automobile, and the demand for zero friction coatings increased. The increasing adoption of zero friction coatings in various industries such as healthcare, food processing, and packaging has also contributed to the market recovery. Furthermore, the growing adoption of nanotechnology in the manufacture of zero friction coatings is expected to further fuel the growth of the zero friction coatings market in APAC during the forecast period.
The zero friction coatings market report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Technavio categorizes the global zero friction coatings market as a part of the global specialty chemicals market. The parent global specialty chemicals market covers companies engaged in the manufacturing of various types of products under organic and inorganic chemicals. Our market research report has extensively covered external factors influencing the parent market growth during the forecast period.
Zero Friction Coatings Market Scope |
|
Report Coverage |
Details |
Page number |
162 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.6% |
Market growth 2023-2027 |
USD 267.8 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
4.87 |
Regional analysis |
APAC, North America, Europe, South America, and Middle East and Africa |
Performing market contribution |
APAC at 47% |
Key countries |
US, China, Japan, UK, and Germany |
Competitive landscape |
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
Key companies profiled |
3M Co., AFT Fluorotec Ltd., Akzo Nobel NV, ASV Multichemie Pvt. Ltd., Axalta Coating Systems Ltd., Carl Bechem GmbH, DuPont de Nemours Inc., Endura Coatings, GMM Coatings Pvt. Ltd., Henkel AG and Co. KGaA, IKV Tribology Ltd., Master Bond Inc., Poeton Industries Ltd., PPG Industries Inc., RPM International Inc., Sandwell UK Ltd., The Chemours Co., The Sherwin Williams Co., VITRACOAT, and Nippon Paint Holdings Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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