Report : South America Automotive Brake Shims Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material Type (Rubber Coated, PSA Material, Thermoset Material, and Others) and Application (Two Wheeler, Passenger Vehicle, and Commercial Vehicle)

Passenger Vehicle segment to dominate the South America Automotive Brake Shims Market during 2020–2028

 

According to a new market research study on “South America Automotive Brake Shims Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material and Application” the market is expected to reach US$ 20.94 million by 2028 from US$ 19.78 million in 2021. The market is estimated to grow at a CAGR of 0.8% from 2021 to 2028. The report provides trends prevailing in the South America automotive brake shims market along with the drivers and restraints pertaining to the market growth. Burgeoning norms for reducing fatalities caused by vehicle accidents, betterment in automotive brake technology, and elevating production of automotive vehicles are the major factor driving the growth of the South America automotive brake shims market. However, minimum copper in brake pad development hinders the growth of South America automotive brake shims market.

 

The South America automotive brake shims market is segmented on the basis of material, application, and country. Based on material, the market is segmented into rubber coated, PSA material, thermoset material, and others. In 2020, the others segment held a larger share of the market; and it is also expected to register a higher CAGR during the forecast period. Based on application, the South America automotive brake shims market is segmented into two wheeler, passenger vehicle, and commercial vehicle. In 2020, the passenger vehicle segment held the largest market share; and it is also expected to register the highest CAGR in the market during the forecast period. Based on country, the South America automotive brake shims market is segmented into Brazil, Argentina, and Rest of SAM. In 2020, Brazil held the largest market share; and is further expected to grow at the fastest CAGR during the forecast period.

 

Avery Dennison Corporation, Brembo S.p.A., BOSCH Auto Parts, Trelleborg Group, Super Circle, Delphi Technologies Plc., and TEXTAR Brake Technology are among some of the leading companies in the South America automotive brake shims market. For instance, Avery Dennison has acquired Smartrac’s Transponder business for $254.79 million. Smartrac is now an Avery Dennison company.

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