Polymer bearings are used in areas where resistance to dampness or chemicals is important. Polymer bearing offer properties such as corrosion resistance, high wear and fatigue resistance, self-lubricating, low friction, quiet operation, light weight, high strength, high dimensional stability, low lifecycle costs and electrical insulator. Polymer bearing are extensively used in industries such as food & beverages, medical, textile, chemical, photographic and vacuum.
The market for polymer bearing is growing significantly owing to the surge in demand for polymer bearings in emerging economies of Asia-Pacific such as India, China, Brazil, Argentina, and UAE. Increased applications of polymer bearings in sectors such as semiconductor, medical & pharmaceutical, chemical, automobile, food processing, and textile drives the market growth. Polymer bearings are generally used on metal surfaces. These offer numerous advantages over other coventional bearing materials. Polymer bearings are chemical and corrosion resistant and do not transfer heat to other areas of mechanical assembly, as they are self lubricating and hence eliminate the possibility of failure owing to limited maintenance. However, the strict government norms regarding the use of polymer bearing in the packaging and food processing industry restraints the market for polymer bearing. The market for polymer bearing faces growth challenges due to the unawareness towards the benefits of polymer bearings.
The polymer bearing market can be segmented based on material, end-use industry, and region. Based on material, the global polymer bearing market can be segmented into phenolics, acetal, nylon, teflon and UHMWPE. The phenolics material dominated the polymer bearing market in 2015. The phenolics material type segment accounted for the largest share of the polymer bearing market and is analyzed to grow at the highest CAGR during the forecast period. This growth is majorly attributed by the rising demand for phenolic bearings from numerous end-use industries such as textile, automobile, semiconductors, and food packaging. In addition, phenolic bearings have properties such as exceptional strength and shock resistant, in addition to resistance to acid, water, and alkali solutions. Based on end-use, the market for polymer bearing can be segmented into automotive, medical, textile, packaging, food and chemical. Automotive industry was the major revenue generator for the polymer bearings market in 2015. Wide applications in automotive industry owing to the properties such as low maintenance, lightweight, lubrication-free, high wear & fatigue resistant, and corrosion & chemical resistant led to the growth of polymer bearings market in the automotive industry.
Based on region, the polymer bearing market can be segmented into North America, Latin America, Europe, Middle East & Africa (MEA), and Asia-Pacific. The Asia-Pacific was the largest market for polymer bearings in 2015. Increasing investments by foreign companies, growing production facilities, the strong industrial base in the construction sector and the significant rise in living standards are the major factors contributing to the growth of market in this region. The growth in LAMEA region is mainly due to the increase in demand from end-use industries. Key players involved in the polymer bearing market are focusing on key market strategies such as mergers and acquisitions with local as well as established players. Moreover, companies are also focusing on collaborating with local players to increase their reach across all geographies and earn huge profits. Partnership with multinational companies to strengthen their market reach and goodwill is also anticipated to be a major market strategy in the polymer bearing market. Some of the major players involved in the manufacture and supply of polymer bearing include SKF, Kilian Manufacturing, BNL Ltd., and Dotmar Engineering Plastic Products.
Market by Material
Market by End-use Industry
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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