NEW
YORK, July 10, 2024 /PRNewswire/ -- The global
plastic fasteners market size is estimated to grow by USD 1.36 billion from 2024-2028, at a CAGR of
4.5%, driven by cost advantages and the popularity of lightweight
solutions. However, stringent regulations against plastic use pose
a challenge. The use of recycled materials enhances market
performance by aligning with environmental regulations and reducing
raw material costs. Key players include Anil Plastics and
Enterprises, Avery Dennison Corp., Bossard Holding AG, Bulte
Plastics (UK) Ltd., and others.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Automotive,
Electrical and electronics, Building and construction,
Supermarkets, and Others) and Geography (APAC, Europe, North
America, South America, and Middle East and Africa)
|
Region
Covered
|
APAC, Europe, North
America, South America, and Middle East and Africa
|
Key companies
profiled
|
Anil Plastics and
Enterprises, Avery Dennison Corp., Bossard Holding AG, Bulte
Plastics (UK) Ltd., Canco Fasteners, Craftech Industries Inc., E
and T Fasteners, Essentra Plc, Fontana Finanziaria Spa, Illinois
Tool Works Inc., KITAGAWA INDUSTRIES America Inc., LISI Group, MW
Industries Inc., Nifco Inc., Nyltite Corp., Penn Engineering,
Raygroup SASU, Slidematic Precision Components Inc., Stanley Black
and Decker Inc., and Volt Industrial Plastics
|
Key Market Trends Fueling Growth
Plastic fasteners are manufactured using materials like nylon,
PVC, and polypropylene. These lightweight fasteners are widely
utilized in the construction industry due to their effectiveness.
In electronics, they are essential for forming circuit boards,
serving functions such as spacing, securing, guiding, and
supporting components. Plastics' electrical insulation properties
make them a preferred choice over other fasteners. Versatile
plastics cater to various applications where weight, thermal,
environmental, chemical, and electrical considerations are crucial.
They simplify designs by replacing multiple metal components with a
single plastic fastener. The automotive industry, which employs
advanced automation techniques, further increases the demand for
lightweight, reliable, and efficient components, driving the
plastic fasteners market growth.
The Plastic Fasteners Market is experiencing significant growth,
particularly in the Electronics and Automotive industries. Plastic
materials like nylon, polypropylene, polyethylene, ABS, and PVC are
popular choices due to their lightweight and durability. Recycled
materials are also gaining traction due to environmental concerns.
In the Automotive segment, plastic fasteners are used in grommets
& bushings, threaded fasteners, cable clips & ties, washers
& spacers, wall plugs, and more. The Plastic Compounding Market
and Bio-based Elastomers Market are key suppliers. Metal fasteners
face competition due to plastic's advantages in weight reduction
and cost savings. End-use industries include Consumer Electronics,
Green Building, and Electric Vehicles. Government bodies and
environmental regulations are driving the shift towards sustainable
materials. Plastic parts replace flimsy materials in automobiles,
reducing vibration, abrasion, and corrosion. The market includes
hole plugs, nylon washers, and various types of fasteners for
electrical and electronics, insulating materials, bumpers, and
light sheet metals.
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Market Challenges
- The European Union's Regulation (EC) 282/2008, enacted on
March 27, 2008, sets guidelines for
plastic materials and articles that come into contact with food,
including plastic fasteners. These regulations require
authorization for recycling processes to produce food-grade
plastics. Applications for authorization are submitted to Member
State authorities, then forwarded to the European Food Safety
Agency (EFSA) for an opinion. The EC grants or refuses
authorization based on EFSA's opinion. Such stringent regulations
can limit the use of plastic fasteners in industries like
supermarkets, negatively impacting the growth of the global plastic
fasteners market during the forecast period. Regulatory bodies like
the European Commission (EC), Registration, Evaluation,
Authorization, and Restriction of Chemicals (REACH), and
Environmental Protection Agency (EPA) continue to enforce
regulations on plastics, potentially impeding market
expansion.
- The Plastic Fasteners Market faces several challenges in
various industries. In the automotive segment, plastic parts and
light sheet metals require fasteners that can withstand vibration,
abrasion, and corrosion. For bumpers and hole plugs, flimsy
materials necessitate strong and reliable solutions. In insulating
materials, plastic washers and spacers like nylon washers play a
crucial role. Government bodies and environmental regulations
impose stringent rules, affecting production costs and credit
conditions in the construction sector. In non-residential
manufacturing, plastic grommets and bushings are essential for
Building and Construction, Residential manufacturing, and
Non-residential manufacturing. In the Automotive sector, plastic
fasteners replace metal equivalents in automotive parts and
packaging technology. Plastic binders, circuit boards, washing
machines, household appliances, and auto parts also utilize plastic
fasteners. The Plastic Binder's Market is a significant
sub-segment, presenting both opportunities and challenges.
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challenges - Download a Sample Report
Segment Overview
This plastic fasteners market report extensively covers market
segmentation by
- End-user
- 1.1 Automotive
- 1.2 Electrical and electronics
- 1.3 Building and construction
- 1.4 Supermarkets
- 1.5 Others
- Geography
- 2.1 APAC
- 2.2 Europe
- 2.3 North America
- 2.4 South America
- 2.5 Middle East and
Africa
1.1 Automotive- Plastic fasteners are essential
components in the automotive industry, replacing metal counterparts
in various applications. The global automotive sector is the
largest consumer of plastic fasteners due to their use as
lightweight materials in automotive structural, exterior, and
interior components. These materials are utilized in manufacturing
automotive parts such as instrument panels, air intake manifolds,
engine covers, airbag containers, powertrains, cooling systems,
headlamp bezels, exterior parts like front-end grilles, fuel caps
and lids, door and tailgate handles, exterior mirrors, wheel
covers, and trim. Additionally, plastic fasteners are employed in
producing seat belts, airbags, carpeting, headrests, cup holders,
and side pillars. The increasing demand for lightweight,
fuel-efficient, and eco-friendly vehicles due to stringent
environmental regulations on emissions drives the growth of the
automotive industry and, consequently, the global plastic fasteners
market. Key players in the automotive sector, including Jaguar Land
Rover Ltd., BMW AG, Ford Motor Co., and Renault SA, have
significant manufacturing hubs worldwide, leading to increased
demand for plastic fasteners from these automobile
manufacturers.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Research Analysis
The Plastic Fasteners Market encompasses the production and
distribution of plastic components used to join or affix parts
together in various industries. Plastic fasteners have gained
popularity due to their lightweight and corrosion-resistant
properties, making them ideal for the Electronics and Automotive
industries. Plastic materials used in fasteners include nylon,
polypropylene, and polyethylene, among others. Recycled materials
are increasingly being used to reduce environmental concerns.
However, plastic fasteners face competition from metal equivalents.
In the Automotive sector, they are used in automobiles, electrical
and electronics, plastic parts, light sheet metals, insulating
materials, and more. In Residential and Non-residential
manufacturing, they are used in a wide range of applications, from
hole plugs and nylon washers to flimsy materials like belly
buttons. Plastic fasteners also find use in Packaging technology,
providing a more cost-effective alternative to metal fasteners.
Despite their advantages, plastic fasteners face challenges such as
their perceived flimsy nature compared to metal fasteners. Overall,
the Plastic Fasteners Market continues to grow, driven by the
increasing demand for lightweight and cost-effective solutions in
various industries.
Market Research Overview
The Plastic Fasteners Market encompasses a wide range of
products used in various end-use industries, including electronics
and automotive. Plastic materials, such as nylon, polypropylene,
polyethylene, ABS, and PVC, are commonly used in the production of
plastic fasteners. Recycled materials are increasingly being used
to reduce environmental concerns. In the automotive industry,
plastic fasteners are replacing metal equivalents due to their
lightweight properties, contributing to the production of
fuel-efficient and electric vehicles. Plastic fasteners find
extensive applications in consumer electronic devices, green
building, and electrical and electronics. The market includes
grommets & bushings, threaded fasteners, cable clips &
ties, wall plugs, and various plastic parts like washers &
spacers. The plastic compounding market and bio-based elastomers
market are significant contributors to the production of plastic
fasteners. The automotive segment is a major consumer, with
environmental regulations and government bodies driving demand.
Construction expenditure, loan rates, and credit conditions
influence the market in the building and construction sector.
Plastic washers and spacers, grommets and bushings, and building
and construction are key applications. The plastic binder's market
also utilizes plastic fasteners for various applications, including
packaging technology, circuit boards, washing machines, household
appliances, and auto parts. Plastic fasteners offer advantages over
flimsy materials, providing resistance to vibration, abrasion, and
corrosion.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Automotive
- Electrical And Electronics
- Building And Construction
- Supermarkets
- Others
- Geography
-
- APAC
- Europe
- North America
- South America
- Middle East And Africa
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
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Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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