Global market value of friction products and materials 2018-2023

Published by Statista Research Department, Apr 3, 2023
The global market value of friction products was approximately 19 billion U.S. dollars in 2018. Five years later, by 2023, this figure is forecast to increase to around 24 billion U.S. dollars. The two main types of friction materials are dry friction materials (such as non-asbestos organic, semi-metallic, low-metallic and asbestos friction materials), and wet-friction materials such as paper.

Market value of friction products and materials worldwide in 2018 and 2023 (in billion U.S. dollars)

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Release date

September 2018

Region

Worldwide

Survey time period

2018

Supplementary notes

* Expected as of September 2018.
** Forecast based on an expected CAGR of 5.2 percent from 2018-2023.

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