(MENAFN- GlobeNewsWire - Nasdaq) Dublin, May 10, 2023 (GLOBE NEWSWIRE) -- Fact.MR has provided detailed information about the price points of key manufacturers of friction washer positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Fact.MR – A Market Research and Competitive Intelligence Provider : In 2023, the global friction washer market is expected to be worth US$ 160.33 billion. The friction washer sales are expected to reach US$ 263.65 million by 2033, expanding at a 5.1% CAGR from 2023 to 2033.
The global friction washer business is predicted to expand significantly in the next years. The requirement for efficient cleaning of plastic waste, particularly for recycling, drives the friction washers business. Friction washers are utilized in a range of industries, including plastic and paper recycling, as well as automotive.
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The rising demand for recycled plastic items is likely to fuel friction washer demand along with friction washer sales. Governments throughout the world are enacting rigorous legislation to promote recycling and limit plastic waste, which is projected to bump up friction washer demand hugely.
Key Takeaways
The plastics end-user industry is one of the leading and notably growing end-user industries. The friction washer market is predicted to be dominated by North America. Europe's market is anticipated to be led by nations like Germany, France, and the United Kingdom. Friction washer demand to be fueled by Asia Pacific's significant contribution to the plastic recycling sector.
Latest Strategies
With the Acquisition of Herbold Meckesheim, Hillenbrand to be able to offer its Customers Comprehensive Recycling Solutions.
Herbold Meckesheim GmbH (Herbold), which has an estimated enterprise value of €79 million, has entered into a binding agreement with Hillenbrand, Inc. Subject to regulatory approval and the usual closing requirements; the deal was closed in the fourth fiscal quarter of 2022.
Battery Recycling in France is S upported by MTB Group Partnership
Contract signed for recycling MTB group with a world-class multinational pre-treatment equipment manufacturer. MTB is a recycling business with sizable market operating capabilities and a reputable track record for battery waste.
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Competitive Landscape
The friction washer market may have numerous friction washer manufacturers, including both well-established businesses and recent arrivals. Product quality, pricing tactics, customer service, innovation, and branding are a few of the variables that may have an impact on market competition.
Market Titans
Sorema Vecoplan Herbold Meckesheim Erema Starlinger B+B Anlagenbau NGR Next Generation Recycling Maschinen GmbH MTB Recycling Lindner-Recyclingtech Amut Group
Fri ction Washers Are Becoming Efficient As Technology Advances
As technology progresses, friction washers become efficient and dependable. Friction washer performance and efficiency are being improved by advanced features such as automated cleaning cycles, real-time monitoring, and data analysis.
To increase the efficiency of these devices, friction washer manufacturers are implementing cutting-edge technologies like automation, and data analytics. This is anticipated to increase consumer interest and fuel market expansion for friction washers.
Opportunity Arises As the Packaging Sector Expands
The packaging industry is quickly expanding as a result of rising demand for packaged goods, particularly in the food and beverage sector. Friction washers are used to clean and prepare plastic packing materials, which are in high friction washer demand due to their durability, and low cost.
Alternative Technologies' Competition and High Investment Limit Sales
There are numerous different washers and separating devices on the market, including centrifuges, vibrating screens, and hydro cyclones. Friction washer demand may be constrained by competing technologies that are effective or less expensive as compared to friction washers.
The cost of manufacturing friction washers makes them pricey for consumers to buy. This may be a big deterrent for businesses considering technological investments.
Regional Prospects for the Friction Washer Market
North America market is expected to increase steadily due to the rising demand for recycled plastic materials. The leading contributors to market growth for friction washers are the United States and Canada.
Asia Pacific region is predicted to experience swift development in the friction washer market due to the rising industrialization and urbanization in emerging countries. Increased demand for recycled plastic materials, as well as the implementation of favorable government waste management rules, is projected to spur market expansion.
Europe has a significant friction washers business. The region is predicted to increase significantly as a result of the implementation of tight waste management legislation and rising demand for recycled plastic materials.
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Key Segments
By Type: Horizontal friction washers Vertical friction washers Inclined friction washers
By End-use Industry: Recycling Plastics Textiles Paper Others
By Operating Principle: Dry friction Wet friction
By Region: North America Latin America Europe Asia Pacific East Asia Middle East & Africa
What differences can the Friction washer market report make on the revenue impacts and strategies of businesses?
Fact.MR strives to provide comprehensive assessments of opportunities in various regions and technology segments. The study also offers an uncluttered data-driven insights into the growth avenues of the friction washer market and all its segments. Some of the ways the study can make a discernible impact are by offering evidence-based perspectives on:
Attractiveness quotient of emerging product/technology types in various products in the Friction washer market Micro-economics factors that may hamper the prospects of some of the key segments Recent spate of research and development (R&D) funding on key Friction washer markets New business models paving way for disruptions in demand dynamic of key segments Regional markets that will be future engine of growth and the industry trends that will support these markets Challenges overcoming which may offer industry players competitive edge
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