Polymer Bearing Market Expected to Reach $14.9 Billion by 2031—Allied Market Research

According to a new report published by Allied Market Research, titled, “Polymer Bearing Market," The polymer bearing market was valued at $9.4 billion in 2021, and is estimated to reach $14.9 billion by 2031, growing at a CAGR of 4.8% from 2022 to 2031.

Polymer bearings are used as a substitute for metal bearings. Typically, they are utilized in situations where metal bearings are susceptible to friction, corrosion, and wear, or where they may be exposed to chemicals or moisture. Polymer bearings are made from polyethylene (PE), Polypropylene (PP), Polyethylene terephthalate (PET), or a mix of polymers. Polymer bearings have various advantages over metallic and other types of bearings, including resistance to acid, alkali, wax, and oil, solvents, resistance to corrosion, nonconductivity, and self-lubrication, among others. Polymer bearings assist lower machinery maintenance costs due to these benefits.

Automotive businesses work on every available solution to reduce the vehicle and component weight, due to severe government rules regarding energy consumption, emission of gases, waste disposal,  and others. As polymer bearings are between 70 and 80 % lighter than their metal equivalents, they are a feasible alternative in the automotive industry. Common applications include windscreen wipers, hinges, shock absorbers, brakes, shafts, gearboxes, engine compartments, pedals, angle transmitters, and others.

Numerous industrial producers use polymer bearings due to their cleanliness, affordability, and adaptability. They are composed of a thermoplastic alloy combined with solid lubricants and a fiber matrix, resulting in a low friction coefficient and increased strength. The large-scale adoption of polymer bearings is driving the global expansion of the polymer bearing market. This acceptance is primarily attributable to the benefits of polymer bearings. self-lubricating polymer bearings eliminate the need for extra lubrication. They have a high resistance to corrosion, allowing them to be utilized in hostile situations where corrosion is inevitable; these bearings are unaffected by such surroundings, making them a designer's first choice in hostile environments. They are portable and offer design versatility.

In addition, due to their small weight, they become more fuel-efficient because less energy is required to move them from one position to another. As opposed to standard bearings, they allow manufacturers to develop bearings based on their creativity, and designers do not have to adhere to limited designs. Moreover, due to less friction, heat dissipation is diminished.

Polymer bearings are effective noise and shock absorbers. They significantly reduce the noise created by the engine. Polymer bearings can be placed on other machine components such as pulleys and plastic wheels, allowing for product integration that lowers assembly time and increases affordability. Plastic's strong elasticity enables the bearings to support greater loads than metal bearings. When combined with polymer or glass, they are nonmagnetic by nature. Their low weight adds to a low moment of inertia. They are inexpensive and have little maintenance costs. These factors increase the need for polymer bearings, consequently driving the market for polymer bearings forward.

The most significant restriction of polymer bearings is their inability to work in extremely high temperatures and cold flow under heavy loads. Cold flow is the deformation or size change that occurs in materials subjected to a constant load at operating temperatures. This restriction can hamper the expansion of the polymer bearings market. In addition, there are limits on the use of polymer bearings in the food and beverage industry due to the risk of contamination. The demand for polymer bearings is anticipated to increase in the future as a result of technological advancements in manufacturing processes and a greater understanding of their applications.

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.

On the basis of type of material, the polymer bearing market is categorized into phenolics, nylon, teflon, acetal, UHMWPE (Ultra High Molecular Weight Polyethylene) and others. Acetal is projected to be the fastest-growing segment and phenolics has garnered the highest share in the polymer bearing market.

On the basis of end-use industry, the polymer bearing market is categorized into automobile, medical & pharmaceutical, textile, packaging, and others. Automobile is projected to be the fastest-growing segment and has garnered the highest share in the polymer bearing market.

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., and OILES CORPORATION. Other players operating in the market are Synnovia, TOK Inc., Xinzhou Bearing Industrial Inc., and Boston Gear LLC, BNL Ltd.

Key findings of the study

• On the basis of type of material, the acetal segment is expected to grow at a CAGR of 5.2%, in terms of revenue, during the forecast period.
• Depending on end-use industry, the automobile segment is expected to grow at a high CAGR, during the forecast period.
• Region-wise, Asia-Pacific garnered the highest share in 2021 in terms of revenue.