Polymer Bearing Market Size, Share, Growth Analysis, By Material(Phenolics, Nylon, Teflon, Acetal), By End-use(Automobile, Medical & pharmaceutical, Textile, Packaging), By Region - Industry Forecast 2024-2031

Global Polymer Bearing Market size was valued at USD 9.63 billion in 2022 and is poised to grow from USD 10.06 billion in 2023 to USD 14.31 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

The global bearing market was valued at $80 billion (about $250 per person in the US) in 2015 and is expected to exceed $110 billion (about $340 per person in the US) by 2024, with over 6% profitability due to heavy machinery manufacturing 25% of the total market share due to increasing vehicle demand and machine production.

Global vehicle production exceeded 95 million units in 2016 and could exceed 135 million units by 2024. Noise and vibration are challenges for the automotive industry. Saint-Gobain's Norglide polymer bearing is self-lubricated and contains polytetrafluoroethylene to help reduce noise and reduced vibration in vehicles. Uses the product in applications such as center fingers, adjustable top systems, belt tensioners, pedal systems, stub axles, gear actuators, door hinges, steering systems, throttle valves, and seat systems.

Technological advances in seals, lubricants and lightweight materials in high-performance materials are creating more business opportunities for manufacturers. Adding electromechanical elements directly to the bearings can increase performance and reduce costs. A number of industry players are investing in digital services and communications to improve customer engagement and develop strategies across the value chain. Digital processing through the use of digital production equipment and automation simplifies manufacturing processes and increases employee productivity, thereby contributing to automated and optimized production processes, driving market expansion.