Boston, MA -- (SBWIRE) -- 09/08/2015 -- Friction products are used to control or stop the motion of a solid object through the application of force. Friction products are categorized into two types: Dry friction material and wet friction material. Friction products are widely used in the automotive, industrial, and aerospace sectors.

Technavio's analysts forecast the global friction products market 2015-2019 to grow at a CAGR of 6.07% over the period 2014-2019.

Commenting on the report, an analyst from Technavio's team said: "The increase in demand from the automotive industry drives the global friction products market as the market receives most of its revenue from this industry. The automotive industry is growing at a rapid rate across the globe, especially in developing countries like India, China, and Brazil which enhances the demand for friction products. In particular, the demand for passenger cars is growing at a rapid rate, although the rate of growth is faster in developing countries due to the increase in the disposable income of the middle class in these countries. Therefore, the market is experiencing higher demand from the automotive industry in developing countries than in developed countries. The automotive industry is expected to retain its position as the leading end-user in the market during the forecast period."

Get More Details on this Report and a Full Table of Contents at Global Friction Products Market 2015-2019

According to the report, the global friction products market is witnessing emerging demand for customized friction products. Many large vendors in the market are offering customized friction products to end-users based on the end-users' specific requirements. Vendors are developing long-term contracts with end-users by providing and developing customized friction products. For instance, Brembo offers customized products to key leading automotive OEMs. This gives Brembo a competitive edge in the market and helps it to maintain long-term contracts with OEMs.

Further, the report states that the decline in planned expenditure and delays in major investment decisions are restraining demand for flow sensors in the oil and gas industry.

The key players in the Global Friction Products Market 2015-2019 are Advics, Brembo, Federal Mogul, ITT and Nisshinbo Brake while other prominent vendors include Akebono Brake Industry, Carlisle Companies, Fras-le, Honeywell International and Japan Brake

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.

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