Global Plastic Bearings Market Was Valued At 500 Million USD In 2017
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Plastic bearings have positioned themselves as serious alternatives to traditional metal bearings in a wide variety of applications. Plastic bearings provide a number of advantages over metal bearings. They have less weight, lower inertia, and run much quieter than their metal counterparts. The main raw materials of plastic bearings include PEEK, nylon resin, POM, PET.
IGUS, Oiles and GGB are the world's top 3 manufacturers of plastic bearings. The three companys hold nearly 40% of the global total revenue.
In 2017, the plastic bearings market was valued at 500 million USD. By 2023, the plastic bearings market was expected to reach 630 million USD. In terms of yield, the sales volume of plastic bearings was 1.1 billion units in 2017. In 2023, plastic bearings sales volume will reach nearly 1.5 billion units.
Automobile industry and machinery industry are the main applications of plastic bearings. In 2017, the automobile industry accounted for 36% of the share of the plastic bearings consumer market.
The market competition of plastic bearings industry is fierce; Investment and technology thresholds are relatively high. For companies that are interested in entering the industry, we suggest that we must do a good job of pre-investigating and fully analyze their advantages and disadvantages.