automotive brake friction products Market

The global automotive brake friction products market share is expected to grow from US$ 10,387.3 million in 2021 to US$ 13,203.7 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.  

As the automotive industry evolves, vehicle architecture is changing and governments are mandating the development of safer cars, prompting manufacturers and governments to invest significant amounts of capital in developing reliable and efficient automotive products. This is expected to contribute to the growth of the automotive brake friction products market. Brakes remain the most crucial safety components for driving, regardless of future brake systems or vehicle architecture, and this is having a positive impact on the automotive brake friction products market. As automated driving capabilities increase, vehicle architecture is evolving, and the demand for brake pads is rising due to increased brake usage resulting from traffic congestion, further driving growth in the automotive brake friction products market.  

During the forecast period, the Asia Pacific region is predicted to be the biggest market for automotive brake friction products. The growth of the automotive brake friction products market in the region can be attributed to the improvement of socio-economic conditions in emerging economies such as India, China, Indonesia, and Thailand. The increasing production of vehicles and the implementation of stringent safety regulations in China and India are also expected to contribute to the growth of the automotive brake friction products market in the coming years. China, the world's largest vehicle manufacturer, is expected to dominate the Asia Pacific automotive brake friction products market during the forecast period. Chinese OEMs are focusing on the use of lightweight materials for brake friction products, and the presence of global players is driving the adoption of safety features in vehicle models. For example, Shanghai Automotive Brake Systems Co., Ltd., a joint venture between Huayu Automotive Systems Company Limited and Continental AG, is one of China's largest suppliers of brake friction products.

With decreasing prices and growing public acceptance, electric vehicles are expected to become increasingly important in North American transportation networks, accounting for at least 65% of overall car purchases in the US by 2050. As electric cars have regenerative braking systems, the need for hydraulic braking is reduced. The automotive industry in the US delivered almost 14.5 million light vehicle units in 2020. Europe, being a home to many global automobile and vehicle part manufacturers, is one of the largest automotive markets worldwide, and the adoption of new technologies such as autonomous and electric vehicles is expected to boost the automotive brake friction products market growth in the region.

Semi-metallic brake pads, which are commonly known as "metallic brake pads" and are made of steel, copper, or other metals to reinforce the metallic matrix, are available in the market with metal content ranging from 30% to 65%. Due to their high strength and thermal conductivity, they are expected to propel the global automotive brake friction products market growth. The segment growth is also driven by their advantages over ceramic in terms of toughness and heat resistance. As semi-metallic brake pads are less expensive and lend themselves to heavy braking over a long stretch of road or track, they are commonly found on high-performance race cars.

Metallic brakes offer superior braking performance across a wider range of temperatures and conditions and require less brake pedal pressure to achieve the same stopping power as organic brakes. Ceramic pads are reinforced with organic materials such as aramid, kevlar, glass, or ceramic fibers, while carbon ceramics are composed of a combination of fibers, powders, and expensive resins, originally used in aerospace braking systems. However, automotive manufacturers are now implementing this technology in personal and sports vehicles, driving growth in the automotive brake friction products market. Ceramic brakes are more resistant to deformation at high temperatures and have a longer lifespan than conventional brakes. They also do not corrode, even in harsh winter conditions. Due to their lighter weight, ceramic brakes reduce the overall load of vehicles. Furthermore, they are highly effective at dissipating heat from sudden, forceful stops, resulting in cleaner, quieter, and longer-lasting performance when compared to organic pads.  

The automotive brake friction products market ecosystem is comprised of major stakeholders such as hardware and components providers, automotive brake friction product manufacturers, governmental organizations, and end-users. These stakeholders work together to facilitate the development and adoption of advanced automotive brake friction products, including ABS and EBD. System integrators are also important in installing these products. Government organizations and regulatory bodies are among the stakeholders involved in this market.

Some of the key companies in the automotive brake friction products market include ABS Friction, Akebono Brake Industry Co., Ltd., Bendix Spicer Foundation Brake, LLC, Bosch Limited, Carlisle Brake & Friction, Inc., Delphi Auto Parts, Japan Brake Industrial Co., Ltd., Aisin Corporation, Miba AG, and Nisshinbo Brake Inc., among others. Additionally, the report includes information on other companies that hold a significant share of the market through secondary research.

In order to determine the size and forecast of the automotive brake friction products market, both primary and secondary research methods were utilized. The secondary research involved gathering qualitative and quantitative information from internal and external sources. The purpose of this process was to gain an overall understanding of the market and its segments. Additionally, primary interviews were conducted with key industry participants including business development managers, market intelligence managers, and national sales managers, as well as external consultants such as research analysts and valuation experts. The insights obtained from these interviews were used to validate the data and gain deeper analytical insights into the automotive brake friction products market.