Zero Friction Coatings Market Regional Analysis:
APAC Market Insights
The zero friction coatings market in Asia Pacific is projected to be the largest with a share of about 37% by the end of 2035. The growth of the market can be attributed majorly to the rising automotive industry in countries, such as China and India. There is growing need for zero friction coatings to improve fuel efficiency, reduce emissions, and extend the life of engine components. China's automotive sector is expected to generate around 23.8 million passenger cars in 2022. The Association of Southeast Asian Nations is the world's seventh-biggest automotive manufacturing hub, delivering around 3.5 million vehicles in 2021. Moreover, the region has some established automakers, such as Honda, BMW, Toyota, Maruti Suzuki, and others.
Europe Market Insights
The European zero friction coatings market is estimated to be the second largest, registering a share of about 26% by the end of 2035. The growth of the market can be attributed majorly to the growing adoption of renewable energy sources, such as wind turbines and solar panels. Zero friction coatings are important in these systems to avoid energy losses. It increases the overall efficiency of renewable energy systems. Europe had 255 gigatonnes (GW) of installed wind capacity as of 2023. Moreover, in 2017, around 15, 700 MW of capacity of wind power was added in Europe, which accounted for around 55% of all the new power capacity. It was enough to suffice the power generation for the entire Europe. Furthermore, the presence of great automobile manufacturers is also expected to augment the market growth in the region.
