According to the recent research report titled ‘Global Brake Friction Materials Market, 2021-2027’, available with MarketStudyReport, global brake friction materials market size is expected to expand at 2.5% CAGR over 2021-2027.
 

Surging demand for passenger and commercial vehicles, flourishing automobile industry, and easy availability low-cost friction materials are fueling global brake friction materials market growth.
 

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For the unversed, brake friction material are multiphase composites comprising various ingredients and are utilized to regulate vehicle speed via a drum or rotating brake disc.
 

Growing adoption of disc brakes to improve the braking system in vehicles, and growing product utilization in various auto parts are will continue to support market development in the upcoming years. Besides, rapid urbanization and rising preference of personal vehicle ownership are also adding to the industry progression.
 

Based on product type, worldwide brake friction materials industry is split into shoe, pad, liner, drum, and brake disc. With respect to application spectrum, the industry is bifurcated into passenger cars, MCVs & HCVs, and LCVs. Of these, passenger cars segment observed considerable growth in the recent past, creditable to mounting demand and production of such cars, along with increasing requirement for online cab services and personal cars.
 

Coming to geographical ambit, the market size spans across South America, Middle East & Africa, North America, Latin America, Asia Pacific, and Europe. Experts cite that Asia Pacific industry is expected to grow significantly over the next six years, with economies such as India, Japan, and China at the forefront. The growth can be ascribed to booming automotive and aerospace sector in the region.
 

Top companies impacting global brake friction materials market trends are Robert Bosch GmbH, Nisshinbo Holdings Inc., Continental AG, Brembo S.p.A., Aptiv plc, Akebono Brake Industry Co. Ltd., and Aisin Seiki Co. Ltd. among others. These players are focusing on production capacity expansion, new product development, partnerships, mergers, and acquisitions to grab a larger industry share.