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Automotive Brake Shims Market Expectations and Growth Trends Highlighted Until 2032

 Global Automotive Brake shims market was valued at US$ 540.8 Bn in 2021 and is expected to reach US$ 930.0 Mn by 2032, finds Future Market Insights (FMI) in a recent market survey. As per the findings of the report, revenue through rubber material grew at 3.8% during 2017-2021 and is expected to witness 4.8 % CAGR during the forecasted period of 2022-2032. Owing to its excellent properties of being heat resistant and high insulation for vibration and noise is driving the demand for rubber coated material in automotive brake shims.

China to Dominate the Automotive Brake Shims Market in Asia-Pacific throughout the Analysis Period

China is expected to account for 31% of the market share in global automotive brake shims by 2032. The expected market size in automotive brake shims is expected to reach US$ 64.6 Mn by 2032. China achieved a growth rate of 3.2% in automotive brake shims during 2017-2021 and is set to witness 4.5% during the forecast period.

Market growth in China can be attributed to global automotive components manufacturers extending its production facilities in China. For instance, Meneta has one of its production facilities in China. Besides Brembo has set up a new production hub in China, next to the existing plant where brake discs and brake shims are manufactured. Also, due to the rapid increase in sales of brake shims, backing plates, and NRS, NUCAP has extended its current production facility to triple its existing manufacturing facilities in automotive braking shims. The absolute dollar opportunity growth in China is projected to reach a valuation of US$ 23 Mn by 2032.

“Automotive manufacturers are continuously engaging in expanding their production capacities throughout the world. Combining titanium with other elements will assist in cutting down the manufacturing cost and benefit the aftermarket sales during the forecasted period” Comments an analyst at Future Market Insights.

Automotive brake shim manufacturers are largely aiming at setting up manufacturing facilities, investing in R&D, innovating their products and focussing on development of brake pads which will prove to be optimal and increase the life of vehicles. The key companies operating in the Automotive break shims market Vibracoustic USA, Inc. , Akebono Brake Corporation, Brickham Stampting Company, Inc., Bosch Auto Parts, Avery Dennison Corporation, Brembo S.p.A, Trelleborg Group,Delphi Technologies, Meneta, Super Circle Auto Ltd, NUCAP, Brake Performance, Textar Brake Technology, Stanztechnik Schulte GmbH and Util Group.

Some of the recent developments in Automotive Brake Shims Market are as follows:

  • In April 2022, EBC Brakes Racing launched titanium motorsport brake pad shims. It is suited for extreme temperatures arising from motorsport and is made available for range of high-performance car applications.
  • In March 2022, NUADI group expanded its market in North America. The new facilities will be in Querétaro, Mexico and aims to manufacture brake shims, backing plates and electrical wear sensors.
  • In November 2021, NRS brakes expanded its product line by introducing galvanized brake pads for Mitsubishi Outlander PHEV. NRS brakes for Outlander PHEV will feature noise-canceling piston cushions and shims.
  • In July 2021, Bosch released 38 high-quality braking parts which included Bosch Blue Disc Brake Pads. It covers multi-layer shims which will help noise dampening, occurring from braking parts.
  • In February 2020, Delphi announced the launch of its new brake pads for their new Volkswagen Golf. It called it Five Layers of quality which will focus on original-equipment noise-absorbing underlayer technology, shims chamfers and slots for better performance.
  • In June 2017, TMD Friction developed Textar Q+, an innovative dampening shim to reduce noise effect. The texture is designed with a unique adhesive and will prevent direct contact between brake pistons and the backing plate, thereby reducing vibration transfer.

More Insights Available

Future Market Insights, in its new offering, presents an unbiased analysis of the Automotive Brake Shims Market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals extensive growth in Automotive Brake Shims in terms of Material Type (Rubber Coated, PSA Material, Thermoset Material, Others), By Application (Passenger Vehicle, Commercial Vehicle), across five regions (North America, Latin America, Europe, Asia Pacific and Middle East & Africa).

For More Info@ https://www.futuremarketinsights.com/reports/automotive-brake-shims-market

About Future Market Insights (FMI)

Future Market Insights, Inc. is an ESOMAR-certified business consulting & market research firm, a member of the Greater New York Chamber of Commerce and is headquartered in Delaware, USA. A recipient of Clutch Leaders Award 2022 on account of high client score (4.9/5), we have been collaborating with global enterprises in their business transformation journey and helping them deliver on their business ambitions. 80% of the largest Forbes 1000 enterprises are our clients. We serve global clients across all leading & niche market segments across all major industries.

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