Polymer Bearing Market Trend, Share, Size Analysis, and Forecast 2032

Polymer Bearing Market Size

According to Zion Market Research, the global Polymer Bearing Market was worth USD 12.88 Billion in 2023. The market is forecast to reach USD 20.42 Billion by 2032, growing at a compound annual growth rate (CAGR) of 4.7% during the forecast period 2024-2032.

The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Polymer Bearing Market industry over the next decade.

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Polymer Bearing Market: Overview

A polymer bearing is employed in a machine or micro mechanism to aid rotational motion, in this case at least one out of the two rubbing components which aid the rotational motion is composed of polymer. Polymer bearings are less expensive than metal bearings, making them a more desirable choice. The market is growing due to rising demand from the automotive industry and expanding applications in end-use industries such as packaging, textiles, packaging and food. Technological advancements and significant investments in research and development processes will give an opportunity to fuel market expansion.

COVID-19 Impact Analysis

Due to lockdowns, travel bans, and business closures, the COVID-19 pandemic has impacted economies and sectors in a number of nations. The automobile sector in particular experienced severe disruptions, including hold on technological advancements plans, supply chain breakdowns, and workplace closures. This resulted in reduced demand for the polymer bearings as they find maximum application in this sector.

With the presence of major raw material distributors for various industries like packaging, textiles, China is the global industrial powerhouse. Due to factory closures, supply chain obstacles, and the global economic crisis, the overall market breakdown caused by COVID-19 is also impacting the growth of the Polymer Bearing market.

Polymer Bearing Market: Growth Factors

The polymer bearings market is projected to grow in response to rising demand from the automobile industry because of their many characteristics such as excellent corrosion resistance, fatigue resistance and lubricant-free nature.

Apart from automobile sector, textile processing, chemical processing, electronic products, elevators, are just a few of the areas where polymer bearings find their application. Polymer bearings are available in a variety of kinds, making them ideal for a wide range of applications in a variety of sectors, which is likely to boost demand for the polymer bearing market.

Polymer Bearing Market: Segmentation

Material Segment Analysis Preview

Phenolics material segment held a share of around 30% in 2020. This is attributable to the increased demand for phenolic polymer bearings from various end-use sectors such as automotive, food packaging, electronics and textiles. They also provide excellent strength and stress resistance, as well as resistance to acid, alkali and water solutions. Self-lubricating phenolic polymeric materials are used to replace metal bearings in a variety of applications. They are important for providing the appropriate amount of cooling and clearance in severely loaded systems. As a result of the aforementioned characteristics, the phenolic material type dominated the market.

End Use Industry Segment Analysis Preview

Automobile segment will grow at a CAGR of over XX% from 2024 to 2032. This is attributable to fact that their lightweight, low maintenance, lubrication-free, corrosion and chemical resistance, and high wear and tear resistance, polymer bearings are widely utilised in the automotive industry. Polymer bearings are used in belt tensioners, centre armrests, pedal systems, gear actuators, steering systems, stub axels, and seating systems in this industry.

Due to tight government requirements on energy consumption, gas emissions, waste disposal, and other factors, automakers are focusing on every feasible option to reduce the weight of cars and their component parts. Polymer bearings are a potential replacement for metal bearings in the automobile industry since they are 70 percent to 80 percent lighter.

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Polymer Bearing Market: Report Scope

Polymer Bearing Market: Regional Analysis

The European region held a share of over 20 % in 2020. This is attributable to the presence of top automobile companies such as Mercedes-Benz, BMW, Audi and Porsche among others. The increasing application of polymer bearing in the automobile sector is expected to generate huge demand for the market in this region.

The Asia Pacific region is projected to grow at a CAGR of around 4% over the forecast period. This surge is due to the large manufacturing and consumer nations like as India and China, the Asia-Pacific region dominates the polymer bearing market. China has the largest share of the polymer bearing market, followed by India and Japan, and is anticipated to be a key consumer during the forecast period. The demand for polymer bearing in this area is from different end-use sectors such as automotive, food processing, textile, packaging, chemical and medical.

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Polymer Bearing Market: Competitive Players

Some of key players in polymer bearing market are:

• SKF
• IGUS Inc.
• BNL Ltd.
• Dotmar Engineering Plastic Products
• Boston Gear LLC
• Oiles Corporation
• Saint-Gobain S.A.
• Kms Bearings Inc.
• Kilian Manufacturing 
• Kashima Bearings Inc. 
• Among others. 

Key Players in this market are making significant investments in research and development and technological advancements initiatives to expand the application and resourcefulness of polymer bearings. This will give an opportunity to fuel market expansion.

The Global Polymer Bearing Market is segmented as follows:

By Material

• Acetal
• Phenolics
• Teflon
• Nylon
• Ultra High Molecular Weight Polyethylene (UHMWPE)
• Others

End Use Industry

• Automobile
• Textile
• Packaging
• Elevator
• Food
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa