Polymer Bearing Market: Automotive industry to boost the market growth

Global Polymer Bearing Market size was valued at USD 11.16 Bn in 2023 and is expected to reach USD 15.18 Bn by 2030, at a CAGR of 4.5% over the forecast period (2024-2030).
Polymer Bearing Market Overview
A polymer bearing is a bearing made from a polymer material, also known as plastic. Bearings are mechanical components used to reduce friction between two moving parts. They are mostly used in machinery, automotive, and aerospace applications.

Polymer bearings offer several advantages over traditional metal bearings, including corrosion resistance, low friction, and self-lubrication. They are lightweight and operate without the need for lubrication, which can simplify maintenance and reduce costs. Rise in demand for specialized bearing solutions that meet different industry-specific solutions is expected to boost the Polymer Bearing market growth.

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Polymer Bearing Market Dynamics
Increased demand for lightweight and durable materials to boost market growth

Polymer bearings are lightweight and offer high durability, making them ideal for use in various applications where weight and durability are critical factors, which helps to increase the Polymer bearing market size. Polymer bearings are increasingly being used in the automotive industry due to their ability to withstand high temperatures, resist wear, and reduce noise and vibration. Use of Polymer bearing in various medical devices such as prosthetics, pacemakers, and artificial heart valves due to their biocompatibility and resistance to corrosion is expected to boost the Polymer bearing market growth. Polymer bearings are used in food and beverage processing equipment due to their ability to resist corrosion and bacterial growth. Polymer bearings have low friction coefficients, which makes them ideal for use in energy-efficient applications such as wind turbines, electric motors, and pumps. Technological advancements in the polymer industry are driving the development of new types of polymer bearings that offer higher performance and improved durability and significantly contributing for the growth of Polymer bearing industry.

Limited load capacity with high cost to restrain market growth

Polymer bearing have a lower load capacity compared to traditional metal bearings, which is expected to limit the application of polymer bearing in high-load applications. Polymer bearing is expensive than traditional metal bearings, which make them less attractive to customers who are cost-sensitive. Polymer bearing have a limited temperature range, which is not suitable for applications where extreme temperatures are a concern and is expected to restrain the market growth. Polymer bearing are not suitable for use in applications where there is exposure to harsh chemicals or solvents and offer good durability in many applications, and is not suitable for high-stress applications where metal bearings are typically used is expected to hamper the Polymer Bearing Market growth. There is a lack of industry standards for polymer bearings, which make it difficult for customers to compare products and make informed purchasing decisions.
Polymer Bearing Market Regional Insight
Asia Pacific region dominated the market in 2023 and accounted largest Polymer Bearing market share about 39 % and is expected to dominate the market over the forecast period. Increased demand for vehicles with technological advancement and solutions, rise in vehicle manufacturing with instrumented products is expected to boost the regional market growth. Growth in demand for highly advanced vehicles and increase in capabilities of vehicles has increased the demand for bearing in the automotive industry and is significantly contributing for the growth of market. China is the major market for polymer bearing due to the rapid expansion of machinery and motor vehicle production with strong industrial equipment and motor vehicles repair. The robust construction and mining equipment market in India is expected to boost the Polymer Bearing industry growth in the region over the forecast period. Mining and construction equipment market in India, Indonesia, Thailand, South Korea, and Taiwan boosts the demand for polymer bearing in the region.

Sustainable economic growth and increased investment is expected to influence the European region Polymer bearing market growth. Rebounding production of motor vehicles and a healthy fixed investment environment drives the demand for polymer bearing in the regional market.
Polymer Bearing Market Competitive Landscape
Polymer bearing key players are making significant investments in research and development and in technological advancements initiatives to expand the application and resourcefulness of the polymer bearing market. Polymer bearing manufacturers continuously work to improve product designs to increase performance and energy efficiency. Key Polymer bearing suppliers have started providing smart bearings, whose conditions can be constantly monitored to predict faults before they occur. To maintain a competitive edge, the Polymer bearing manufacturers are implementing various growth strategies. Innovations, M&A, collaborations, and partnerships are adopted by the Polymer bearing key players to thrive in the competitive market and to enhance the Polymer bearing Market penetration.

In June 2021, JTEKT Corporation developed ball bearings with high muddy water-resistance seals for agricultural machinery with advancements in these machineries, which are able to operate in harsh working environments.
Polymer Bearing Market Segment Analysis
Based on Type of Material, the market is segmented into Phenolics, Nylon, Teflon, Acetal, UHMWPE (Ultra High Molecular Weight Polyethylene), and Others. Phenolics segment held the largest Polymer Bearing Market share in 2023 and is expected to dominate the market over the forecast period. Phenolics acts as self-lubricating material and replace material & metal bearing in various applications. Phenolic compounds include cotton fabric mixed with phenolic resin. It is easily absorbed in liquids and make them ideal for automotive use. Phenolic compound have high strength and low weight due to, which these bearings are famous for replacing steel bearing on propeller bearings and rubber shaft on ships. Phenolic bearings are resistant to shock and water and work well on heavily loaded systems that provide clearance and cooling. All these factors is expected to boost the Polymer Bearing industry growth.

Phenolics are often replaced by nylon, which is used in bearings. Nylon is strong, quiet material that withstands scratches and can wear out slightly. Nylon is easily shaped, cast, and made to fit very closely in any machine, which is expected to boost the segment growth in market over the forecast period. Teflon provides low friction, high wear resistance, and can operate at high temperature. Teflon bearings load capacity depends on how well it is constructed and reinforced, which is expected to fuel the market growth.

Based on Type of bearing, the market is segmented into Ball bearing, Roller bearing, Needle bearing, and Plain bearing. The roller bearing segment held the largest Polymer Bearing Market share in 2023 and is expected to dominate the market over the forecast period. Roller bearing reduce rotational friction, support redial, and axial loads more efficiently than their counterparts, which is expected to boost the roller bearing segment growth in the market. Use of roller bearing by several industries such as capital equipment, automobile, and automobile positively impact product demand, which is expected to boost the market growth.

Plain bearing also known as sleeves bearings the most preliminary type of bearing without rolling components. In sliding applications plain bearings are used as bearing strips, slide bearings, and wear plates, which is expected to boost the market growth.

Based on End-user, the market is segmented into Medical Industry, Lawn & Garden tools, Marine industry, Aerospace, Automotive, and Agriculture. The automotive segment held the largest Polymer Bearing Market share in 2023 and is expected to dominate the market over the forecast period. The automotive segment held a sizeable portion of the market. Different types of gears, pedal systems, and seating systems are manufactured using polymer bearings in the automobile industry. The cost benefits are very important in the automotive industry.

The Polymer bearings are lighter than steel with less fuel consumption and wider range, which is expected to boost the automotive segment growth in the market over the forecast period.

Polymer bearings are used to control the high speed of equipment in the medical industry. Polymer bearings do not require lubrication due to, which they are ideal for applications where sterility and suitability for the clean room are required and is significantly contributing for the Polymer Bearing industry growth.
Polymer Bearing Market Scope: Inquire before buying



Polymer Bearing Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
USD 11.16 Bn


Forecast Period 2024 to 2030 CAGR:
4.5%
Market Size in 2030:
USD 15.18 Bn


 Segments Covered:
by Type of Material
Phenolics
Nylon
Teflon
Acetal
UHMWPE (Ultra High Molecular Weight Polyethylene)
Others


by Type of Bearing
Ball bearing
Roller bearing


by Application
Motors
Gears
Drive shaft
Idler Wheels
Wheel Pivots
X-ray robots


by End-user
• Medical Industry
Lawn & Garden tool
Marine industry
Aerospace
Automotive
Agriculture



Polymer Bearing Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Polymer Bearing Key Players Include
1. SKF (Sweden)
2. ISB Industries
3. Ritbearing Corporation
4. NSK Ltd
5. JTEKT CORPORATION
6. Schaeffler India
7. NTN Corporation
8. Waukesha Bearings
9. The Timken Company
10.RBC Bearings Incorporated
11.Jtekt North America
12.MBY Bearing Technology Co., Ltd
13.Poly Fluoro Ltd
14.Saint-Gobain
15.GGB Bearing
16.Poly Fluoro Ltd
17.Omniseal Solutions
18.Technymon LTD
19.Thomson Linear
20.CSB Sliding Bearings (India) Pvt. Ltd.
21.IGUS INDIA PVT. LTD.

Frequently Asked Questions:

1] What is the growth rate of the Global Market?
Ans. The Global Polymer Bearing Market is growing at a significant rate of 4.5% over the forecast period.

2] Which region is expected to dominate the Global Polymer Bearing Market?
Ans. Asia Pacific region is expected to dominate the Market over the forecast period.

3] What is the expected Global Polymer Bearing Market size by 2030?
Ans. The market size of the Polymer Bearing Market is expected to reach USD 15.18 Bn by 2030.

4] Who are the top players in the Global Polymer Bearing Industry?
Ans. The major key players in the Global are Poly Fluoro Ltd, Omniseal Solutions, Technymon LTD, Thomson Linear, and CSB Sliding Bearings (India) Pvt. Ltd.

5] Which factors are expected to drive the Global Polymer Bearing Market growth by 2030?
Ans. Increased demand for lightweight and durable materials are is expected to drive the Polymer Bearing Market growth over the forecast period (2024-2030).