PUBLISHER: Allied Market Research | PRODUCT CODE: 1266573
PUBLISHER: Allied Market Research | PRODUCT CODE: 1266573
The polymer bearing market attained $9.4 billion in 2021 and is projected to reach $14.9 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.
A polymer bearing is a design module used to convey rotational motion in a machine or small mechanism when at least one of two rubbing components is composed of polymer. Consequently, regions once dominated by steel and phosphor bronze are progressively filled with polymers such as Polytetrafluoroethylene (PTFE), polyetheretherketone (PEEK), Polyoxymethylene (POM), and Nylons. A polymer bearing is an element of a machine featuring at least one polymer rubbing part. Because they can survive extreme situations that would ruin conventional bearings, polymer bearings are desirable. Compared to steel, polymeric materials are 80% lighter. As a result, polymer-based bearings require less energy to move and are less susceptible to energy loss due to friction. When greased, polymer bearings are practically silent and absorb stress loads more effectively than metal bearings. When high loads and perhaps high temperatures are involved, metallic bearings are normally used. Certain polymers, such as polyetheretherketone (PEEK) and Polyimide, can withstand tremendous loads and temperatures of 300°C+, despite the fact that polymers cannot normally withstand large loads or operate at high temperatures. The use of these polymers is limited to aeronautical and medical applications where cost is not a significant factor.
In addition to hospital beds, x-ray equipment, dentist chairs, operating tables, and wheelchairs, polymer bearings may be used in a number of medical devices. Increasing technological developments in the healthcare sector have led to an increase in demand for medical devices, which may have a favorable effect on the market size for polymer bearings.
The market for polymer bearings is primarily driven by demand from the automotive industry, particularly in the production of cars, in an effort to minimize weight, noise, and corrosion. They are typically applied to the metal surface and possibly to other common bearing materials as well due to their corrosive and chemical-resistant qualities. In addition, due to their self-lubricating qualities, polymer bearings prevent heat transmission and reduce the likelihood of failure due to reduced maintenance requirements. Compared to metal bearings, polymer bearings are more conducive to economic growth and are between 70 and 80% lighter than other metals, making them a popular choice in the automotive industry. China is the world's largest automotive market, according to the International Trade Administration (ITA). The Chinese government expects automotive production to reach 35 million units by 2025. This will support market expansion even further.
Fluctuating raw material costs may limit industry profitability, consequently influencing the price trend of polymer bearings. The low thermal conductivity of phenolic bearings due to friction, which necessitates a continual supply of water or lubricating oil to reduce heat, may impede the growth of the sector. However, polymer bearings are less expensive and lighter than metal bearings, which has increased their use in the automotive industry and stimulated their expansion. The government's stringent restrictions on the use of polymer bearings in the food packaging and processing industries have prevented further expansion of the market.
The development of 3D printing technology is anticipated to generate growth opportunities for the global polymer bearing industry. Custom 3D-printed plain bearings made from high-performance polymers are more durable than conventional 3D-printing materials. Using 3D printing, bearing manufacturers may innovate and produce bearings with improved performance. It is projected that the growing popularity of 3D printing would increase the industrial use of polymer bearings.
The polymer bearing market is segmented into type of material, end-use industry and region. Depending on the type of material, the market is divided into phenolics, nylon, teflon, acetal, UHMWPE (Ultra High Molecular Weight Polyethylene) and others. On the basis of end-use industry, it is categorized into automobile, medical & pharmaceutical, textile, packaging and others. Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA.
The major players operating in the global polymer bearing market are: ISB Industries, Altra Industrial Motion Corp., Saint-Gobain, Dotmar Engineering Plastics, Waukesha Bearings Corporation, SKF, Igus, Kashima Bearings, Inc., KMS Bearings, Inc., OILES CORPORATION. Other players operating in the market are Synnovia, TOK Inc., Xinzhou Bearing Industrial Inc., Boston Gear LLC, BNL Ltd.