Zero Friction Coatings Market to Reflect Robust Expansion During 2022-2030: Grand View Research Inc.

 Zero Friction Coatings Market Growth & Trends

The global zero friction coatings market size is estimated to reach USD 1,346.00 million by 2030 according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.6% from 2022 to 2030. Growth can be attributed to the fact that these coatings reduce friction and wear resulting in low fuel consumption and less heat generation. According to the European Automobile Manufacturers' Association, 79.1 million motor vehicles were produced across the globe in 2021 which was up by 1.3% as compared to 2020. Zero friction coatings can extend the time between component maintenance and replacement, especially for machine parts that are expensive to manufacture.

Several applications in the automobile industry use wear-resistant plastic seals that require zero tolerance for failure and lifetime service confidence. Increasing demand for the product from the automotive industry across the globe for various applications including fuel pumps, automatic transmissions, oil pumps, braking systems, and others is expected to drive its demand over the forecast period.

Low friction coatings can be used in extreme environments comprising high pressure, temperatures, and vacuums. These coatings can provide improved service life and performance thereby eliminating the need for wet lubricants in environments that require chemicals, heat, or clean room conditions. The product containing molybdenum disulfide (MoS2) are suitable for reinforced plastics while those free from MoS2 are suitable for non-reinforced plastics.

Zero friction coatings are paint-like products containing submicron-sized particles of solid lubricants dispersed through resin blends and solvents. The product can be applied using conventional painting techniques such as dipping, spraying, or brushing. The thickness of the film has a considerable influence on the anti-corrosion properties, coefficient of friction, and service life of the product. Its thickness should be greater than the surface roughness of the mating surfaces.

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Zero Friction Coatings Market Report Highlights

• In 2021, molybdenum disulfide emerged as the dominant type segment by contributing around 50% of the revenue share. This is attributed to its properties such as low coefficient of friction at high loads, electrical insulation, and wide temperature range
• The automobile & transportation was the dominating end-use segment accounting for a revenue share of more than 35% in 2021 due to the rapid growth of the automotive industry across the globe
• The energy end-use segment is anticipated to grow at a CAGR of 5.7% in terms of revenue by 2030, owing to the excessive wear on the drill stem assembly and the well casing during the drilling operations in the oil and gas sector
• In Asia Pacific, the market is projected to witness the highest CAGR of 5.8% over the predicted years owing to the presence of car manufacturing industries in the countries such as Japan, South Korea, and China

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Zero Friction Coatings Market Segmentation

Grand View Research has segmented the global zero friction coatings market market report on the type, formulation, end-use, and region:

Zero Friction Coatings Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Polytetrafluoroethylene
• Molybdenum Disulfide
• Others

Zero Friction Coatings Formulation Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Solvent-based Coatings
• Water-based Coatings
• Powder Coatings

Zero Friction Coatings End-use Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Automobile & Transportation
• Aerospace
• General Engineering
• Food & Healthcare
• Energy
• Others

Zero Friction Coatings Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America
  • US.
  • Canada
  • Mexico
• Europe
  • Germany
  • UK.
  • France
  • Italy
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Indonesia
  • Thailand
• Central & South America
  • Brazil
  • Argentina
  • Colombia
• Middle East & Africa
  • Turkey
  • South Africa
  • Morocco

List of Key Players of Zero Friction Coatings Market

• Endura Coatings
• DuPont
• VITRACOAT
• Poeton
• Bechem
• ASV Multichemie Private Limited
• GMM Coatings Private Limited
• IKV Tribology Ltd.

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.