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NEW YORK , June 23, 2022 /PRNewswire/ -- The Plastic Fasteners Market is segmented by end-user (automotive, electrical and electronics, building and construction, supermarkets, and others). The market share growth by the automotive will be significant during the forecast period. Plastic fasteners are used as substitutes for metal components in the automotive industry. Plastic fasteners are used to produce lightweight, fuel-efficient, and environment-friendly automobiles because of the stringent environmental regulations on vehicle emissions. Companies such as Jaguar Land Rover Ltd., BMW AG, Ford Motor Co., and Renault SA are among the top manufacturers of vehicles across the world. These companies have large manufacturing hubs for automotive production in various countries. Such factors constitute the growth of the automotive segment, which, in turn, will drive the growth of the market during the forecast period.
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The Plastic Fasteners Market value is set to grow by USD 1.83 billion from 2020 to 2025, as per the latest report by Technavio. Moreover, the cost advantages of using plastic fasteners is notably driving the plastic fasteners market growth, although factors such as stringent regulations against the use of plastic may impede market growth.
Decelerate at a CAGR of 6.4%
APAC, Europe, North America, MEA, and South America
US, China, Germany, India, and UK
Leading companies, competitive strategies, consumer engagement scope
Avery Dennison Corp., Bossard Holding AG, Illinois Tool Works Inc., MW Industries Inc., Nifco Inc., Nyltite Corp., Penn Engineering, Raygroup SASU, Shanghai Yuanmao Fastener Co. Ltd., and Stanley Black and Decker Inc.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,
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Plastic Fasteners Market 2021-2025: Segmentation
43% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for plastic fasteners in APAC. Market growth in this region will be faster than the growth of the market in other regions. Plastic fasteners are used in the automotive industry primarily for their superior properties, such as high tensile strength and stiffness, high creep resistance, and excellent wear resistance. In 2020, the plastic fasteners market in APAC accounted for a significant market share of the global market, which was attributed to the region's rising automotive production and the growing construction industry.
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Plastic Fasteners Market 2021-2025: Scope
Our market report covers the following areas:
Growing popularity of lightweight fastener solutions will be one of the key trends of the plastic fasteners market growth during the next few years.
Plastic Fasteners Market 2021-2025: Vendor Analysis
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
The plastic fasteners market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.
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Plastic Fasteners Market 2021-2025: Key Highlights
Automotive Fasteners Market by Application and Geography - Forecast and Analysis 2021-2025: The automotive fasteners market share is expected to increase by USD 6.02 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6.47%. Find More Exclusive Research Insights Here
Aerospace Titanium Fasteners Market by Application and Geography - Forecast and Analysis 2021-2025: The aerospace titanium fasteners market share is expected to increase by USD 828.62 million from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 6%. Find More Exclusive Research Insights Here
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