The global polymer bearing market is projected to register a CAGR of over 4.78% to reach around USD 14.10 billion by the end of 2030
According to MRFR analysis, The global polymer bearing market is projected to register a CAGR of over 4.78% to reach around USD 14.10 billion by the end of 2030.
Polymer bearings have made a name in a competitive bearing market by offering several advantages. As a result, formerly steel- and phosphor bronze-dominated areas are increasingly filled with polymers such as PTFE, PEEK, POM, and Nylons. A polymer bearing is a component of a machine with at least one rubbing part made from polymer. Polymer bearings are appealing because they can withstand in harsh environments that would destroy conventional bearings. Polymeric materials are 80% lighter than steel. As a result, the bearings developed from polymers require less energy to move and are less likely to lose energy because of friction. When lubricated, polymer bearings become nearly silent and can absorb shock loads better than metals. Metallic bearings are typically preferable in applications where high loads and possibly high temperatures are present. Although polymers typically can't bear heavy loads or operate at high temperatures, certain polymers such as PEEK and Polyimide can bear enormous loads and remain functional in temperatures of 300°C+. The use of these polymers is restricted to certain applications, such as aerospace and medical, where cost is not a key criterion.
The increased demand from the automobile industry is expected to boost the global polymer bearings market due to the various attributes of these bearings, such as their lubricant-free nature, high corrosion resistance, and fatigue resistance. The increasing use of polymer bearings in end-use industries such as textile, packaging, food, and packaging boosts the growth of global polymer bearing market. Moreover, polymer bearings are in demand across a wide range of industries due to their excellent low friction and high wear resistance properties. In addition, The advancements in 3D printing technology are expected to create growth opportunities in the global polymer bearing market. The custom 3D printed plain bearings developed from high-performance polymers last longer than standard 3D printing materials. 3D printing gives bearing manufacturers a way to innovate, create bearings with enhanced performance. The increasing popularity of 3D printing is anticipated to boost the applications of polymer bearings across industries.
Moreover, Polymer bearings can withstand higher operating temperatures and retain their mechanical properties than babbitt. Polymers resist attack by many chemicals, including hydrogen sulfide and ammonia, that protect bearings from damage when they contact these chemicals. The decreased weight of polymer bearings makes the entire construction lighter, leading to higher performance and less carbon dioxide emissions. Friction occurs when mechanical components come into contact with each other. Polymer bearings minimize the coefficient of friction and result in less wear and quieter operation. Technological advancements and increased R&D investments create opportunities for growth in the global polymer bearing market. In addition, The growing demand for polymer bearings in the automotive and aerospace industries will help fuel the market growth. Polymer bearings provide an affordable alternative to metal bearings, reducing maintenance costs and opening up the possibility of technical improvements.
The American Society for Testing and Materials (ASTM International) is a governing body that establishes quality standards in plastics. ASTM International's standards assist manufacturers and consumers in determining the quality of plastics and their derivatives for safe utilization. The standards are widely accepted throughout the plastic supply chain. ASTM standards create an equal playing field for bearing selection by setting material guidelines. The ASTM standard for automotive bearings includes rigidity, flexural properties, heat deflection, and impact and stress resistance. Moreover, BS 4480-2 represents Dimensions and tolerances for plastic bearings, inside diameter range 3 mm to 60 mm. Diverse dairy technology is available for processing milk and other dairy products, such as filling machines and valves and secondary packaging devices for yogurt (cups), cheese, butter, cream, milk bags, or coffee cream. In the dairy industry plain bearings made of FDA/EU-approved materials must meet Sanitary Standards to ensure product quality and protect consumers' health.
Impact of Coronavirus Outbreak
After hitting the lowest by the outbreak of COVID-19, the global economy is set to expand 5.6% in 2021. However, the recovery is projected to be uneven owing to the uneven vaccine rollouts, upcoming COVID-19 waves, and withdrawal of monetary support measures. In many emerging markets and developing economies, obstacles to vaccination also result in delayed normalcy. The recovery is envisioned to continue into 2022, with global growth moderating to 4.3%. However, yet the global GDP is expected to remain 1.8% below pre-pandemic projections.
The economic impact of COVID-19 on end-use industries has been significant. Travel restrictions have caused a downturn in many markets, and growth has slowed as a result. The lockdowns have forced production facilities to remain closed, negatively impacting the polymer bearing market due to revenue loss from lower adoption of the polymer bearing solutions across industries. All major industries are facing disruptions, such as supply chain failures, slow technological adoptions, and office closures. Since lifting travel restrictions, growth across application markets has gained significant traction.
The outbreak of the COVID-19 virus has had a major impact on the automotive industry, and carmakers are currently struggling with unprecedented uncertainty. The disruption of supply chain activities has also slowed down manufacturing, delaying the production of motor vehicles and thus hampering the growth of the global polymer bearing market. In addition, the decreased demand in the automotive industry was caused by the COVID-19 pandemic, which is affecting the growth of the global polymer bearing market.
Supply Chain Analysis
The supply chain analysis evaluates every stage and step taken by stakeholders involved throughout the production and distribution of polymer bearings. The supply chain includes raw materials and suppliers, polymer bearings producers, distribution channels, and end-use industries. The distribution channel in this polymer bearing market comprises distributors, wholesalers, and end-use industries. Some key distributors and suppliers of the polymer bearing market include SKF (Sweden), Igus (Germany), Synnovia (UK), Altra Industrial Motion Corp (US), Dotmar Engineering Plastics (Australia), Saint-Gobain (France), and OILES CORPORATION (Japan).
Extensive use in automotive, healthcare, textiles, and food and beverages industries
|Market Size||2030: USD 14.10 Billion|
|CAGR||4.78% % (2022-2030)|
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||SKF (Sweden), Igus (Germany), Synnovia (UK), Altra Industrial Motion Corp (US), Dotmar Engineering Plastics (Australia), Saint-Gobain (France), and OILES CORPORATION (Japan).|
|Key Market Opportunities||The advancements in 3D printing technology are expected to create growth opportunities in the polymer bearing market.|
|Key Market Drivers||