DUBLIN, Feb. 28, 2018 /PRNewswire/ --
The "Plastic Fasteners Market by Product Type (Rivets & Push-In Clips, Cable Clips & Ties, Threaded Fasteners, Washers & Spacers), End User (Automotive, Electrical & Electronics, Building & Construction, Supermarkets), & Region - Global Forecast to 2022" report has been added to ResearchAndMarkets.com's offering.
The global plastic fasteners market is projected to grow from an estimated USD 4.45 Billion in 2017 to USD 6.04 Billion by 2022, at a CAGR of 6.3% from 2017 to 2022.
Growth in the Asia Pacific automotive industry is a major driver for the plastic fasteners market. The support of governments of the Asian countries has led to a favorable environment for local and foreign producers of automobiles to increase production. Increasing investments in residential and non-residential construction sectors in Asia Pacific and North American regions have also created a demand for plastic fasteners.
The rivets & push-in clips segment is projected to be the largest product type segment of the plastic fasteners market from 2017 to 2022. Rivets and push-in clips are increasingly used in automobiles and electrical & electronics. Push-in clips are used to connect plastic parts, light sheet metals, and insulating materials. They are also used as bumpers and hole plugs. Push-in clips are used with nylon washers to fasten flimsy materials. A subtype of push-in clips, known as belly buttons, are resistant to vibration, abrasion, and corrosion.
The automotive segment is estimated to be the largest end-user segment of the plastic fasteners market in 2017. The rising demand for electric vehicles is expected to drive the growth of the automotive segment of the plastic fasteners market. Environmental regulations formulated by various government bodies have propelled the development of lightweight and fuel-efficient automobiles, which, in turn, has contributed to the high demand for plastic fasteners from the automotive industry.
Asia Pacific is expected to be the fastest-growing market for plastic fasteners during the forecast period. China, Japan, India, and South Korea are the major producers of passenger cars and commercial vehicles in the region. The increasing construction expenditure is another reason for the growth of this market in the region.
The slowdown in the US automotive sector is a restraint for the plastic fasteners market. The demand for vehicles in the US is declining due to high loan rates and tight credit conditions. The US is the second-largest producer of automobiles globally, and the slowdown will affect the plastic fasteners market growth.
Key players operating in the plastic fasteners market include Illinois Tool Works (US), ARaymond (France), Nifco (Japan), Stanley Black & Decker (US), and Bossard Group (Switzerland), among others. These companies focus on investing in capacity expansions of plants to achieve growth in the plastic fasteners market.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Plastic Fasteners Market, By Product Type
7 Plastic Fasteners Market, By End User
8 Plastic Fasteners Market, By Region
9 Competitive Landscape
10 Company Profiles
- Anil Plastics & Enterprises
- Araymond
- Arconic
- Bossard Group
- Blte Plastics
- Canco Fasteners
- Craftech Industries
- E & T Fasteners
- Fontana Gruppo
- Illinois Tool Works
- Joxco Seals
- KGS Kitagawa Industries Co.
- Micro Plastics
- MW Industries
- Nifco
- Nyltite Corporation
- Penn Engineering
- Shamrock International Fasteners
- Shanghai Yuanmao Fastener Co.
- Stanley Black & Decker
- Surelock Plastics
- Termax Corporation
- Volt Industrial Plastics
- Wilhelm Bllhoff GmbH & Co.
For more information about this report visit https://www.researchandmarkets.com/research/b3wskg/6_billion?w=5
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SOURCE Research and Markets
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