Plastic Fasteners Market Size to grow by USD 1366.6 million between 2024-2028
According to a research report “ Plastic Fasteners Market” by End-user (Automotive, Electrical and electronics, Building and construction, Supermarkets, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 1366.6 million, at a CAGR of 4.5% during the forecast period. In the global market, plastic fasteners present a cost-effective solution for various industries, surpassing their metal counterparts in affordability. These fasteners are extensively utilized in sectors such as construction, automobiles, and retail, owing to their efficiency and advantages. Notably, plastic fasteners do not conduct heat or electricity, are rustproof, and shield against harmful UV rays from the sun. Consequently, their low cost, coupled with these advantages, significantly boosts the demand for plastic fasteners during the forecast period. In the automotive industry, where mass production is crucial, plastic fasteners are highly preferred due to their substantial cost-effectiveness compared to alternative fastener types.
Browse market data tables, figures, and in-depth TOC on “Plastic Fasteners Market” by End-user (Automotive, Electrical and electronics, Building and construction, Supermarkets, Others) Geography (APAC, Europe, North America, South America, Middle East and Africa) Global Forecast to 2028. Download Free Sample
By End-user, the Automotive segment is projected to dominate the market size in 2024
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By Geography, APAC segment is expected to hold the largest market size for the year 2024
In the automotive sector, plastic fasteners have emerged as viable alternatives to metal components. With the global automotive industry being the primary consumer of plastic fasteners, these lightweight materials play a significant role in the manufacturing of various automotive components. These include structural elements such as instrument panels, automotive air intake manifolds, engine covers, airbag containers, powertrains, and automotive cooling systems. Additionally, plastic fasteners are utilized in the production of exterior parts like front-end grilles, fuel caps and lids, door and tailgate handles, exterior mirrors, and wheel covers and trim. Furthermore, plastic fasteners are integral to the manufacturing process of seat belts and airbags, carpeting, headrests, cup holders, and side pillars.
APAC is forecasted to hold the largest market size by region in 2024
The Plastic Fasteners Market represents a significant business opportunity, driven by the increasing demand for lightweight, durable, and cost-effective solutions in various industries. These fasteners offer advantages such as corrosion resistance, ease of use, and design flexibility. Key market trends include automotive, construction, electronics, and consumer goods sectors. Growth is expected due to the ongoing shift towards plastic components in manufacturing processes.
The Plastic Fasteners Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Plastic Fasteners Market has witnessed significant growth in recent years due to the increasing demand for plastic packaging and the shift from metal equivalents in various industries. Plastic fasteners offer several advantages over metal fasteners, including lighter weight, corrosion resistance, and compatibility with packaging technology. In the automotive sector, plastic fasteners are increasingly being used in non-residential manufacturing and residential manufacturing applications, replacing flimsy materials like belly buttons, hole plugs, and even in some cases, bumpers. Plastic materials such as polyethylene, polypropylene, and Nylon are commonly used in the production of plastic fasteners. These materials are also used in insulating materials, light sheet metals, and electrical and electronics industries. Plastic parts, including those made from recycled materials, are becoming increasingly popular due to environmental concerns. However, the use of plastic fasteners in automobiles and electronics raises concerns about the sustainability of these materials and the potential for recycling. The market for plastic fasteners is expected to continue growing, driven by the demand for lighter, more durable, and more cost-effective alternatives to metal fasteners.
Market Research Overview
The Plastic Binder's Market encompasses a wide range of applications, including residential construction projects, auto parts, household appliances, and packaging technology. In residential construction, plastic fasteners are used for building and construction, while in the automotive sector, they are essential for manufacturing automobiles, particularly in the production of fuel-efficient, lightweight vehicles and electric vehicles. Plastic fasteners find extensive use in various end-use industries such as automotive, electronics, and packaging. They are used in the automotive segment for making grommets and bushings, washers and spacers, and other components that require resistance to corrosion, abrasion, and vibration. In the electronics industry, plastic fasteners are used in the production of consumer electronic devices, circuit boards, and wall plugs. The Plastic Compounding Market and Bio-based Elastomers Market are key suppliers of raw materials for plastic fasteners. Plastic materials such as PVC, ABS, polyethylene, polypropylene, and Nylon are commonly used in the production of plastic fasteners. Metal fasteners have their advantages, but plastic fasteners offer lighter weight, better insulation, and resistance to environmental concerns. Credit conditions, loan rates, and construction expenditure are significant factors influencing the Plastic Fasteners Market. Government bodies and environmental regulations also play a crucial role in shaping the market. The use of recycled materials and eco-friendly plastic materials is becoming increasingly popular due to growing environmental concerns. Plastic fasteners are also used in various applications in the residential manufacturing sector, including in the production of flimsy materials like belly buttons, hole plugs, and bumpers. Overall, the Plastic Fasteners Market is expected to grow significantly in the coming years due to the increasing demand for lightweight and eco-friendly materials in various industries.
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