Global Polymer Bearing Market is valued approximately at USD 9.1 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 4.40% over the forecast period 2019-2026. Polymer bearings are mostly used in the applications where wear and tear proportion is high that bounds the performance of the metal bearing. Polymer bearings are made from polymers such as PP, PE, PT or a blend of polymers and have numerous advantages over metallic or other types of bearings, such as: resistance to acid, light-weight, alkali, corrosion resistance, grease, wax and solvents, cost effective, nonconductive nature, longer life span and self-lubrication and more. These polymer bearings limit the transfer of heat to other areas of the mechanical assembly, as they are lubricated and therefore, eradicate the possibility of failure owing to lack of maintenance. This is increasing applicability of polymer bearings in the automobile, medical & pharmaceutical, textile, food processing, chemical, office products, and semiconductor industries further propels the growth of the global polymer bearing market. Thus, growth of these end use industries is one of the key driving forces in the market growth. For instance, as per Federal Reserve Bank of Chicago, report 2018-2019, global light vehicle production increased to 98.27 million units in 2018 as compared to 93.60 million units in 2016. Further, as per the Car group organization, the light vehicle sales is protected to reach 110 million units by 2026. In addition, cost-effective Production of Polymer Bearings in emerging region is further contributing towards market. Apart from this, new product Innovation and development is expected to create lucrative growth opportunity in the market over the forecast period. However, Stringent regulations associated with the use of polymer bearings in the Packaging and Food Processing Industry and impedes the growth of the market over the forecast period of 2019-2026.
The regional analysis of global Polymer Bearing market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is expected to account for significant market share owing to the well-established industrial and infrastructural scenario. Whereas, Asia-Pacific is anticipated to exhibit highest growth rate / CAGR over the forecast period 2019-2026. Factors such as rise in demand for polymer bearings from end use industries such as automobile, medical & pharmaceutical chemical coupled with easy availability of raw material and labor would create lucrative growth prospects for the Polymer Bearing market across Asia-Pacific region.
Major market player included in this report are:
Boston Gear LLC
Dotmar Engineering Plastic Products
Kashima Bearings, Inc.
Kms Bearings, Inc.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Type of Material:
UHMWPE (Ultra High Molecular Weight Polyethylene)
By End-Use Industry:
Medical & Pharmaceutical
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016, 2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Polymer Bearing Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers