Global Plastic Fasteners Market: Overview
Plastic fasteners are basically the plastic parts which are used to fix or join two objects together or more than that. Plastic screws, nuts, bolts, threaded rods, washers, and balls are several examples of plastic fasteners. They are manufactured utilizing two methods: machining and plastic molding.
Global Plastic Fasteners Market: Growth Factors
Increasing demand and popularity for high competence cars with better performance is expected to lead the demand and popularity for lightweight elements in the automotive sector. Plastic fasteners present corrosion resistance and high durability. In addition, they are accessible in different colors and shapes, which assist car manufacturers to uphold the aesthetic appearance of the vehicle. The abovementioned aspects are projected to have an optimistic effect on the development of the plastic fasteners market. Plastic manufacturers produce higher return margins as compared to metal fastener producers due to lower raw material cost and moderately less competition in the sector. In addition, plastic fasteners are produced utilizing injection molding methods which decrease the raw material waste, therefore decreasing the overall price of manufacturing.
The automotive manufacturing directly affects the demand and popularity for the global plastic fasteners market determining the expansion of the sector in the years to come. Automotive OEM is considered to be the key market and is expected to grow at a considerable rate in the coming years. The increasing automotive division in emerging economies is projected to be the most significant market for the product.
Global Plastic Fasteners Market: Segmentation
This plastic fasteners market can be classified in terms of the end user, product type, and region. In terms of product type, the global plastic fasteners market is fragmented into cable clips & ties, rivets & push-in clips, washers & spacers, threaded fasteners, wall plugs, grommets & bushings, and others. In terms of end-user, the global plastic fasteners market is divided into electrical & electronics, automotive, supermarkets, building & construction, and others
Global Plastic Fasteners Market: Regional Analysis
In terms of region, the global plastic fasteners market is likely to be dominated by the Asia Pacific owing to the fast development of the plastic sector and its end-user sectors. Countries, for instance, India and China are among the most important contributors based on the usage of the plastic fasteners. Growing industrialization and urbanization in India and China are projected to propel the demand and popularity for the global plastic fasteners market in end-user sectors such as electronics and automotive. The development of these sectors will project to develop the plastic fasteners market in the region. Increasing customers in the Asia Pacific inclining towards the acquisition of cost-effective and lightweight automobiles have contributed positively to the market growth. Aspects such as accessibility of economic labor force, low production costs, government initiatives for foreign direct investments and lenient emission & safety norms, have led to the expansion of the automotive sector in this region. Other developed regions will also experience a rapid market development in the coming years.
Global Plastic Fasteners Market: Competitive Players
Some of the most important market players in the global plastics fasteners market are ARaymond, Illinois Tool Works, Stanley Black & Decker, Nifco, and Bossard Group, among others.
Global Plastic Fasteners Market: Regional Segment Analysis
- North America
- The U.S.
- Europe
- The UK
- France
- Germany
- The Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- The Middle East and Africa
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