Global demand for low-friction coatings is estimated to reach a value of USD 1.75 billion by the end of 2033

The global low-friction coatings market is expected to be worth USD 1.75 billion by 2033, growing at a respectable CAGR of 6.7% over the next ten years. The ability of low-friction coatings to improve surface qualities such as corrosion resistance, wetting and wear resistance may increase their adoption.

The increasing use of low friction coatings in various industries such as transportation, healthcare, automobile, and others is likely to increase the demand. The growing desire for flawless medical tools, strict environmental regulations and the ever-expanding vehicle sector are driving the demand for low-friction coatings.

Low-friction coatings ensure little deterioration and allow smooth contact between two surfaces, increasing their demand in the food and healthcare industries. In the automotive sector, low-friction coatings increase durability and wear resistance, which helps improve the overall performance of the substrate on which they are applied. Low-friction coatings are used in the transportation industry to help reduce pollution, noise, and vibration.

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Substantial growth in healthcare and automotive industries in developing countries such as India is expected to boost the prospects of the target market. Low friction coatings can improve product life and performance while eliminating the need for wet lubricants.

In the vehicle sector, the use of super-hard, low-friction coatings ensures longevity, greater fuel efficiency and a low-friction surface. The vehicle industry is expected to expand significantly during the forecast period. Changing consumer interests, evolving digital technologies, and economic health are expected to have an impact on non-commercial vehicle manufacturing business practices, perhaps driving demand for low-friction coatings.

Manufacturers of low-friction coatings are creating new solutions to address the growing need for application-specific products. These newly produced products also meet requirements and standards set by separate agencies, such as restricted use of lubricants and others. Low friction coatings are being developed to improve the tribological properties of metal forming and cutting tools.

Key points of the market study

• The global low-friction coatings market is valued at USD 915 million by 2023.
• Global demand for low-friction coatings is estimated to reach a value of $1.75 billion by the end of 2033.
• The consumption of low friction coatings is estimated to grow at a CAGR of 6.7% until 2033.
• Sales of molybdenum disulfide (MoS2) low friction coatings are expected to expand at a CAGR of 6.2%.
• Demand for low-friction coatings is projected to expand at a CAGR of 6% from 2023 to 2033 in Canada.
• Sales of low-friction coatings are forecast to grow at a CAGR of 4.1% in Germany.

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Competitive landscape

Major suppliers of low-friction coatings are increasing their spending to maintain product standards. They are also taking initiatives to strengthen their supply chain management systems.

Incorporation of advanced technologies and development of new products are adopted by key players to attract consumers in the market.

For example:

• PPG in April 2022 acquired Arsonsisi to maximize its reach in Europe and enhance its low friction coatings business. The latter is based in Milan and is an industrial coatings company.
• In June 2021, the FUCHS Group acquired the lubricants business of Gleitmo Technik AB in Kungsbacka, Sweden. This acquisition expanded the product portfolio of The FUCHS Group.

Profile of key companies

• Asv Multichemie Pvt., Ltd.
• Whitford Corporation
• Vitracoat America, Inc.
• The Chemours company
• Poeton Industries Ltd.
• Ikv Tribology, Ltd.
• Harves Co., Ltd.
• GMM Coatings Private Limited

Winning strategy

Major suppliers of low-friction coatings are investing in advanced technologies and product developments to generate lucrative opportunities.

• Poeton Industries introduced Apticote 480A in July 2020. It is a revolutionary type of low-friction coating, which combines the qualities of fluoropolymer and nickel materials to solve related problems. This launch focused on expanding the company’s footprints.
• Nippon Paint Marine (NPM) in June 2019 integrated cutting-edge technology into its range of regular antifoulings to provide a practical means of reducing fuel use. This initiative is taken to meet the growing demand for low friction coatings.

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Low Friction Coatings Industry Research Segmentation

• By product:
  • Molybdenum disulfide (MoS2)
  • Polytetrafluoroethylene (PTFE)
  • others
• For end use:
  • Construction of buildings
  • Automobile and transport
  • aerospace
  • marine
  • Electric and electronics
  • Food and drinks
  • Medicine and Health
  • Chemical products
  • others
• By formulation:
  • Water based
  • Powder-based
  • Solvent-based
  • others
• By region:
  • North America
  • europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

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Gerald

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