Overview:

The global plastic fasteners market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Plastic fasteners are the plastic material parts used to join two or more parts or objects together. These are mainly used to develop permanent or temporary joints of light weight object or hold the light weight objects such as plastic, rubber, and particle board parts.

The plastic fasteners are manufactured using various materials such as polyethylene, nylon, polycarbonate, ABS, and PVC. The plastic fasteners plays important role in resistance of electric current flow and reduction of overall product weight.

Market Dynamics:

Key benefits associated with plastic fasteners are key factors driving growth of the global plastic fasteners market. Plastic fastener offers various benefits such as light weight, corrosion, chemical, abrasion, and vibration resistance. Hence are used in many industries for various applications across the globe.

In addition, rising demand for plastic fasteners from automotive industry owing to its light weight is another major factor supporting growth of the target market. Also, plastic fasteners are resistant for electricity supply hence their use in power supply system is growing, which is expected to further drive the market growth in the near future.

However, presence of substitute products in the market such as metal fasteners and limitations associated with plastic fasteners such as limited weight holding capacity and durability are key factors affecting growth of the global plastic fasteners market to a certain extent.

Key Trends:

Growing number of mergers and acquisitions is a key trend witnessed in the global plastic fasteners market. For example, in January 2018, Bolt & Nut Inc. is purchased by Threaded Fasteners Inc. Additionally, Essentra Plc, a plastic supplier based in the UK has acquired US based nylon fastener manufacturer Micro Plastics in January 2018.

Regional Analysis:

For detailed understanding of market dynamics, the global plastic fasteners market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific region dominated the global market with highest revenue share in the year 2019 and is expected to maintain its dominance over the forecast period. This is attributed to presence of leading manufacturers in the region. In addition, presence of leading automotive and electrical product manufacturers in countries in the region is supporting target market growth. Also, wide availability of raw material and wide presence of end use industries are some major factors propelling market growth in the region.

The market in North America and Europe is expected to witness significant growth in the forecast period, followed by the market in Middle East and Africa over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Plastic Fasteners Market, By Product Type:

• Threaded
• Non-threaded

Global Plastic Fasteners Market, By Material:

• Nylon
• Polyethylene
• Acetal
• PVC
• Polypropylene
• ABS
• Other Material (Isoplast, Polycarbonate, and PVDF)

Global Plastic Fasteners Market, By Application:

• Automotive
• Electrical & Electronics
• Construction
• Others

Key Players Covered:

Key players operating in the global plastic fasteners market includes Illinois Tool Works Inc., Micro Plastics, Inc., Stanley Engineered Fastening, Craftech Industries Inc., Product Components Corporation, E & T Fasteners, Melfast Inc., Bossard Holding AG, Canco Fasteners, and Termax Corporation.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Plastic Fasteners Market by product type, material, application, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global plastic fasteners market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.