Frequently Asked Questions
During the forecast period, the overall market size of rubber coated brake shim is expected to grow at a CAGR of 5.7%.
The major players in the global Rubber Coated Brake Shims market are Brake Performance, Meneta Advanced Shim Technology, Nichias Corporation, Nucap Industries Inc, Stanztechnik Schulte Gmbh, Trelleborg Sealing Solutions Kalmar Ab, and Util Industries S.P.A. The companies are putting a lot of emphasis on strategic partnerships in order to expand their footprints and market share.
The expansion of automotive manufacturing facilities eventually increases the demand for rubber-coated brake shims. Vehicle demand is increasing year after year.
Increasing adoption of noiseless disc brakes, as well as increased demand for better vehicle performance and control, are some of the market’s key driving factors.
Due to COVID-19, most of the countries followed a complete lockdown for several months, which, in turn, has impacted vehicle production. Manufacturing units around the world have been closed, resulting in a drop in sales of automotive spare parts, which has impacted global production. Although some OEMs have resumed production, the automotive rubber coated brake shim market may witness significant decline in 2020.