Phenolics is the fastest-growing material type segment of the global polymer bearing market

The phenolics material type segment contributed the largest share to the global polymer bearing market in 2015; this segment is projected to grow at the highest CAGR from 2016 to 2026. This growth is mainly attributed to the increasing demand for phenolic bearings from varied end-use industries such as automobile, textile, food packaging, and semiconductors. In addition, phenolic bearings have properties such as excellent strength and shock resistance, coupled with resistance to water, acid, and alkali solutions. These bearings work efficiently in heavily loaded systems, wherein sufficient clearance and cooling is provided.

Automobile is the fastest-growing end-use industry segment of the global polymer bearing market

The automobile end-use industry segment accounted for the largest share of the global PolymerBearing Market in 2015; this segment is projected to grow at the highest CAGR from 2016 to 2026. This growth is mainly attributed to the increasing demand for polymer bearings in the automobile industry. Polymer bearings are used in the automobile industry for manufacturing variable intake systems, center armrests, belt tensioners, stub axels, gear actuators, convertible top systems, pedal systems, seating systems, steering systems, throttle valves, and door hinges, among others.

The Asia-Pacific region led the global polymer bearing market in 2015

The Asia-Pacific region led the global polymer bearing market in 2015, owing to the rise in demand for polymer bearings from varied end-use industries such as automobile, textile, food processing, medical & pharmaceutical, packaging, and chemical in this region. China, India, and Japan are leading countries in terms of production and consumption of polymer bearings in the Asia-Pacific region. Moreover, the easy availability of raw materials and labor is further anticipated to drive the growth of the polymer bearing market in the Asia-Pacific region.

-2017 China(Guangzhou) Int’l Bearing and Equipment Exhibition