Composite bearings are manufactured from thermosetting resins reinforced with synthetic fibers. The mechanical and physical properties of this composite material make it an exceptional bearing material. By changing the resin used and the fabric reinforcement, the chemical and physical properties of the semi-finished compound can be adjusted to suit an extensive range of applications, including transportation, pharmaceuticals, food and oil & gas industries. The composite bearings provides benefits such as high strength, high rigidity, low water absorption, high dimensional stability, high solvent resistance and low coefficient of friction.
North America composite bearing market is presently being driven by several driving factors. A surge in the demand for composite bearings from end use industries such as marine, automotive, agriculture, construction, mining and aerospace industry are driving the demand for composite bearing market. Likewise, factors such as presence of well-established automotive and construction and mining industry, rising demand for lightweight components in various industrial applications, growth in aircraft as well as automotive vehicle manufacturing, and presence of various market players are expected to improve market growth across the NA region.
The exclusive COVID 19 impact analysis report by Axiom MRC provides a 3600 analysis of micro and macro-economic factors on the composite bearings market. In addition, complete analysis of changes on composite bearings market expenditure, economic and international policies on supply and demand side. The report also studies the impact of pandemic on North America economies, international trade, business investments, GDP and marketing strategies of key players present in the market. COVID-19 impact on the composite bearings market was moderate owing to the decline in demand from automotive, aerospace, marine, and construction and mining industries.
The study analyses North America composite bearings market based on product type, material, end use industry and country.
Two major product types such as metal matrix and fiber matrix are covered in the global composite bearing market. The metal matrix segment dominated the market in 2020 and is expected to maintain its dominance at a considerable growth rate during the forecast period. An increasing use of metal matrix composite bearings in automotive industry to improve energy efficiency and reliability of automotive components and systems and to reduce vehicle weight and improve performance is one of the major factor that accredited to the segment growth.
Based on material, the market is segmented into PTFE composite (poly tetra fluoro ethylene) and POM composite (poly oxy methylene). The PTEF composite segment likely to dominate the market. However, POM composite segment is witnessing fastest growth. Polyoxymethylene (POM), also known as polyformaldehyde, polyacetal, and acetal, is an engineering thermoplastic used in precision parts demanding low friction, high stiffness, and exceptional dimensional stability. These bearings are ideal for oscillating and rotary movement applications. And can be used in the machine building, automotive, and agricultural industries and in application where lubricant cannot be supplied constantly.
End use industries such as construction & mining, automotive, agriculture, aerospace, marine, and others are covered in the North America composite bearings market. Construction and mining segment is likely to witness rapid growth. An increasing use of composite bearings in applications in construction and mining equipment such as excavators, wheel loaders, compact track loaders and back hoes, as well as other applications demanding pivot joints with long life expectancies is attributed to the segment growth.
Country wise, the study is comprised of the key countries such as the US, Canada and Mexico. The US held the largest market share of North America composite bearings market and is likely to dominate the market over the estimated time frame. Well established end use industries across the country and growing market for these industries is key factor that attributed to the market growth. For instance, construction industry is the largest contributor to the United States economy. And this sector is one of the largest customers for mining, manufacturing, and a variety of services with annual spending of more than USD 1,231 billion, according to the Associated General Contractors of America. Thus rising construction activities across the country is ultimately making more demand for composite bearings in the market.
The major key players of market includes Schaeffler Group, Saint Gobain, Trelleborg Group, RBC Bearings Incorporated, Rexnord Corporation, Polygon Company, HyComp LLC, Tiodize Co., Inc, TriStar Plastic Corp, Spaulding Composites, AB SKF, CIP Composites, Federal-Mogul Corporation, Tufcot Engineering Ltd., Franklin Fibre Lamitex Corp, Soucy Composites Inc, AST Bearings LLC and VNC Bearing, Inc.
March 2019: TriStar Plastics Corp announced its distribution agreement with Saint-Gobain Performance Plastics Corporation. Under this agreement TriStar becomes the special distributor for the Saint-Gobain Rulon bearing line in the entire U.S and Canada, with the exception of Nebraska and Iowa, North and South Dakota, Wisconsin and Minnesota.
August 2019: RBC Bearings Incorporated, the US based international manufacturer of highly-engineered precision components and bearings for the aerospace, defense and industrial industries announced the acquisition of Swiss Tool Systems AG, from Cross Equity Partners LLP and other private owners for nearly CHF 33.0 million (USD 33.9 million).
April 2019: Polygon Company announced its new line of PolyLube standard and high-performance custom-engineered composite plain bearings, suitable for challenging applications in construction and mining equipment such as excavators, wheel loaders, compact track loaders and back hoes.
October 2017: Federal-Mogul Powertrain a US based company has validated its DEVA maintenance-free sliding bearings for special-purpose vehicle chassis applications. These composite bearings can be used in agricultural vehicles, construction machines, and other special-purpose vehicles.
The study analyses North America composite bearings market based on product type, material, end use industry and country. Two major product types such as metal matrix and fiber matrix are covered in the North America composite bearing market. The metal matrix segment is likely to dominate the market over the forecast period. Increased adoption of metal matrix composites owing to its several benefits is attributed to the market growth. Based on material, the market is segmented into PTFE composite (poly tetra fluoro ethylene) and POM composite (poly oxy methylene). End use industries such as construction & mining, automotive, agriculture, aerospace, marine, and others are covered in the North America composite bearings market. The automotive and construction and mining segment are likely to register fastest growth in years to come. Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World.
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