The polymer bearing is extensively used in the industrial applications such as medical & pharmaceutical, textile, automobile, and food processing sectors.

Sarasota, FL -- (SBWire) -- 05/26/2017 --Zion Market Research, the market research group announced the analysis report titled "Polymer Bearing Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024"

Global Polymer Bearing Market: Overview

Polymer bearings offer low friction and excellent wear resistance in both lubricated and dry operating conditions in a wide range of applications. Polymer bearings are majorly used in the industrial applications for the manufacturing of center armrests, stub axles, belt tensioners, seating systems, gear actuators, steering systems, and pedal systems. The phenolic bearings possess phenomenal properties of excellent strength and resistance to shock, alkali solutions, acid, wax, and water. It offers the right amount of clearance and cooling in heavily loaded systems.

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Global Polymer Bearing Market: Growth Factors

The polymer bearing is extensively used in the industrial applications such as medical & pharmaceutical, textile, automobile, and food processing sectors. They are commonly applied on the metal surface and possibly over other common bearing materials due to its corrosive and chemical-resistant properties. Polymer bearing restricts the transfer of heat due to its auto-lubricate properties and reduces the chances of failure due to low maintenance. Owing to its properties such as resistance to fatigue, high corrosion, lubricant-free nature, and lightweight bodies it is in high demand in the automobile sector, this may motivate the polymer bearing market growth in the near future. As compared to metal bearings, the polymer bearings are better alternatives for the economic growth. They are used in the automotive sector for the manufacturing of gearboxes, shock absorbers, shafts, windshield wipers, brakes, angle transmitter hinges, pedals, and engine compartments. However, strict government regulations have put the restriction on the further expansion of polymer bearings in the food packaging and processing industries.

Global Polymer Bearing Market: Segmentation

The global polymer bearing market is categorized into end-use industry, type of material, and regions. Based on the end-use industry, the market is segregated into medical & pharmaceutical, office products, automobile, photography, textile, food processing, packaging, chemical industry, elevators, and others. The automobile sector is the end-user industry that is rapidly expanding across the world. Depending on the type of material, the market is divided into acetal, phenolics, Teflon, nylon, UHMWPE, and others. The phenolic segment dominates the global polymer bearing market, due to higher demand for phenolic bearings from the end-user industries such as automobiles, packaging, and semiconductors. The polymer bearing market is fragmented region wise into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.

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Global Polymer Bearing Market: Regional Analysis

Asia Pacific is the leading region for polymer bearings, owing to the increasing demand from the end-user industries such as medical & pharmaceuticals, automobiles, textiles, packaging, and chemicals. Developing regions such as China and India are contributing significantly to the growth of the market. China is the major consumer of polymer bearing. Well-established industrial and infrastructural scenario in the North America encourages the market growth in the near future. Latin America will account for the largest market share in the next few years.

Global Polymer Bearing Market: Competitive Players

Major market players operating in the global polymer bearing market are KMS Bearings, Inc., Saint-Gobain S.A., Kilian Manufacturing, SKF, BNL Ltd., Boston Gear LLC, Oiles Corporation, IGUS Inc., and Dotmar Engineering Plastic Products.

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Global Polymer Bearing Market: Regional Segment Analysis

North America(U.S.); Europe(UK, France, Germany); Asia-Pacific(China, Japan, India); Latin America(Brazil); The Middle East and Africa