Global Zero Friction Coatings Market By Type (PTFE-Based Low Friction Coatings, MOS2 Based Low Friction Coatings), End-User (Automobile & Transportation Industry, Aerospace Industry, General Engineering, Food & Healthcare, Energy, Oil & Gas, Power)
Market Definition: Global Zero Friction Coatings Market
Zero-Friction-Coatings are dry lubricant solutions that resemble common industrial varnishes, during their formulation. They contain resins as bonding agents, solid lubricants as pigments, as well as solvents. Zero friction coatings provides slippery surface that helps emulsions, gels, viscous liquids to slide freely. The application of zero friction coatings can be seen in biomedical devices, plastic packaging, electronics, marine, aerospace and automotive.
- Rising demand for medical devices coatings; this factor will drive the market in the forecast period
- Growing automobile industry and need for better user experience will also propel the market in near future
- Stringent environment regulation on use of conventional lubricants; this factor will also help the market to grow
- Increased usage of zero-friction coatings by its end-users will also propel the market growth
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- Slowly recovering European economies; this factor will hamper the growth of the market in near future
- Declining industrial goods production; this factor can also restrain the market
Market Analysis: Global Zero Friction Coatings Market
Global zero friction coatings market is expected to rise registering a substantial CAGR of 6.1% in the forecast period of 2019-2026. The rise in the market value can be attributed to the growing automobile industry and the need for better user experience, growing demand for medical devices coatings and stringent environment regulations.
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Segmentation: Global Zero Friction Coatings Market
- PTFE-Based Low Friction Coatings
- MOS2 Based Low Friction Coatings
- Automobile & Transportation Industry
- Aerospace Industry
- General Engineering
- Food & Healthcare
- Oil & Gas
Key Developments in the Market:
- In May 2019, Dow Corning Corporation, a subsidiary of The Dow Chemical Company launched Molykote, an anti-friction coating into the market. The product shows excellent dry lubrication properties and is corrosion resistant. Such new launches will help the company to penetrate more into the market.
- In November 2016, Showa Denko K.K. acquired GMM Group, who is a manufacturer of specialty non-stick coating chemical. The acquisition will help the company to expand their business in China and Hong Kong, thus fulfilling all the requirements of customers from various industries.
Global zero friction coatings market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of zero friction coatings market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the zero friction coatings market are Chemours Company, DOW Corning, Endura Coatings, Vitracoat, Inc., Poeton Industries, Whitford Corporation, Bechem, ASV Multichemie Pvt., Ltd., IKV Tribology, Ltd., Whitmore Manufacturing Company, Harves Co., Ltd., Amcor Limited, Wihuri Oyj, Sigma Plastics Group, American Packaging Corporation, Cosmo Films Limited among others.
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