Polymer Bearing Market: Current Analysis and Forecast (2022-2028)

Global Polymer Bearing Market is expected to grow at a significant rate of around 4% during the forecast period. Polymer bearing is a design module used in a machine or miniature mechanism to transmit rotational motion when a minimum of one of two rubbing components is made of polymer. Factors such as increasing demand from the automobile industry are expected to boost the global polymer bearings market due to the various attributes of these bearings, such as their lubricant-free nature, high corrosion resistance, and fatigue resistance. In addition, the advancements in 3D printing technology are expected to create growth opportunities in the global polymer-bearing market. However, government regulation policies in the food and packaging industry can be a restraining factor hindering the growth of the polymer bearings market.

Furthermore, polymer bearings have several advantages over metallic or other types of bearings, such as resistance to acid, alkali, grease, wax, and solvents, corrosion resistance, their nonconductive nature, and self-lubrication, among others. Owing to these advantages, polymer bearings help reduce maintenance costs in machinery.

Some of the major players operating in the market include KMS Bearings Inc., Saint-Gobain S.A., Kilian Manufacturing, SKF, BNL Ltd., Boston Gear LLC, Oiles Corporation, IGUS Inc., Dotmar Engineering Plastic Products, and Kashima Bearings.

Insights Presented in the Report

"Amongst material type, phenolics category to witness robust CAGR during the forecast period"

Based on the type of material, the polymer bearing market is classified into Phenolics, Nylon, Teflon, Acetal, UHMWPE (Ultra High Molecular Weight Polyethylene), and Others. The phenolics segment caters substantial share of the market. As it exhibits properties such as excellent strength and shock resistance, coupled with resistance to water, acid, and alkali solutions. Phenolic polymeric materials act as self-lubricating materials and replace metal bearings in various applications.

"Amongst end-user, automobile segment to hold a significant share in the market in 2020"

Based on end-user, the polymer-bearing market is segmented into Automobile, Medical & Pharmaceutical, Textile, Packaging, and Others. The automobile segment caters considerable share of the market. In the automobile industry, polymer bearings are used to make belt tensioners, center armrests, pedal systems, gear actuators, steering systems, stub axels, and seating systems. According to OICA, in 2018 the production of light commercial vehicles and heavy trucks increased by 5.9% and 3.5% from 2017. In addition, according to International Energy Agency, in 2018, 3.29 million electric vehicles were deployed globally and the number will increase up to 125 million by 2030. This will further support market growth.

"Asia Pacific to hold a significant share in the market"

Asia Pacific is anticipated to grow at a substantial CAGR during the forecast period. This is mainly attributed to the owing to the rise in demand for polymer bearings from varied end-use industries such as automobile, textile, food processing, medical & pharmaceutical, packaging, and chemical in this region. The Asia-Pacific polymer bearings market has been witnessing consistent growth due to the increasing demand for polymer bearings in the food and beverage, delivery & logistics industries.

Reasons to buy this report:

The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

The report presents a quick review of overall industry performance at one glance.

The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.

Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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