Global Polymer Bearing Market is valued at USD 10.61 Billion in 2021 and anticipated to reach USD 14.79 Billion by 2028 with the CAGR of 4.86% over the forecast period.
Polymer bearing is a design module used in a machine or tiny mechanism to transmit rotational motion when a minimum of one of two rubbing components is made of polymer. Plastic Polymer bearings fall into the category of self-lubricated sliding bearings, with additional benefits of generating less metallic debris after wear, low in weight, high resistance to corrosion and high chemical resistance. Polymer bearings are majorly used in the industrial applications for the manufacturing of center armrests, stub axles, belt tensioners, seating systems, gear actuators, steering systems, and pedal systems. The phenolic bearings possess phenomenal properties of excellent strength and resistance to shock, alkali solutions, acid, wax, and water. It offers the right amount of clearance and cooling in heavily loaded systems. For example; The excellent low friction and high wear resistance performance of GGB metal-polymer bearings make them ideal for hundreds of applications in numerous and diverse industries around the world. This property of polymer bearings combined with solid lubricants can yield a product that is much less likely to damage moving components.
Global Polymer Bearing Market is segmented on the basis of type, application and region & country level. Based upon type, polymer bearing market is classified into phenolic, nylon, Teflon, acetal, uhmwpe (Ultra High molecular weight polyethylene) and others. Based upon application, polymer bearing market is classified into automobile, textile, medical and pharmaceutical, packaging, office products and others.
The regions covered in this Global Polymer Bearing market report are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level market of polymer bearing is sub divided into U.S., Mexico, Canada, UK, France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.
Global Polymer Bearing market Report covers prominent players are like
Its Rising Demand for Products in the Industrial Applications such as Medical & Pharmaceutical, Textile, Automobile, and Food Processing Sectors is one of the Major Factors Driving the Market Growth.
Its rising demand for product from the industrial applications such as medical & pharmaceutical, textile, automobile, and food processing sectors is the key factor expected to drive the growth of polymer bearing market. The automotive industry is the second most important consuming sector of polymers after construction. According to Gulf Petrochemicals and Chemicals Association, Currently, there are about 30,000 parts in a vehicle, out of which 1/3 is made of plastic. In total, about 39 different types of basic plastics and polymers are used to make an automobile. However, more than 70% of the plastic used in automobiles comes from four polymers like polypropylene, polyurethane, polyamides and PVC. Plastic has become one of the key materials required for the structure, performance and safety of automobiles in recent years, with growth in plastic consumption being driven by light weighting trends for fuel efficiency and consequently lower greenhouse gas emissions. Also, multiple biological, synthetic and hybrid polymers are used for multiple medical applications. For example; in order to comply with the strict requirements for food hygiene and food safety in all stages of a process, igus company supplies with plastic solutions for food-processing machines and equipment. However, strict government regulations may hamper the further expansion of polymer bearings in the food packaging and processing industries. In spite of that, technological advancement in the manufacturing processes, increasing awareness for its uses and demand for polymer bearings can provide various opportunities for the further growth of this market.
Asia Pacific is expected to dominate the global polymer bearing market owing to the higher demand from the major sectors such as automobile, pharmaceutical, chemicals and others in this region. Developing regions such as China and India are expected to contributing significantly to the growth of the market. China is the major consumer of polymer bearing. The Automotive Component Manufacturers Association of India (ACMA) is the apex body representing the interest of the Indian Auto Component Industry. Bearings are basic components in a variety of machinery and motors. Consequently, the polymer bearing manufacturing industry is one of the most rapidly growing segments of China's manufacturing sector.
North America is second largest region in polymer bearing market due to rising demand from automobile industries, especially in vehicle manufacturing in order to reduce weight, noise and to avoid corrosion. The American chemistry council data indicate that the average weight of North American light vehicles rose in 2018. In 2018, the 16.81 million light vehicles assembled in the United States, Canada and Mexico required some 5.8 billion pounds of plastics and polymer composites valued at USD 7.7 billion, or USD 458 in every vehicle.
Middle East and Africa
|Historical data||2015 - 2021|
|Forecast Period||2022 - 2028|
|Market Size in 2021:||USD 10.61 Billion|
|Base year considered||2020|
|Forecast Period CAGR %:||4.86%|
|Market Size Expected in 2028:||USD 14.79 Billion|
|Tables, Charts & Figures:||175|
|Key Players/Companies||SKF, BNL, IGUS, Boston Gear, Dotmar Engineering Plastic, Saint-Gobain, Oiles, Kashima Bearings, Kms Bearings, Kilian Manufacturing, others.|
|Segments Covered||By Type,By Applications.|
|Regional Analysis||North America, U.S., Canada, , Europe, Germany, France, U.K., Italy, Spain, Sweden, Netherland, Turkey, Switzerland, Belgium, Rest of Europe, Asia-Pacific, South Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC, Latin America, Mexico, Colombia, Brazil, Argentina, Peru, Rest of South America, Middle East and Africa, Saudi Arabia, UAE, Egypt, South Africa, Rest Of MEA|
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