Plastic Fasteners Market To Reach USD 7.52 Billion By 2026 | Reports And Data

New York, Sept. 04, 2019 (GLOBE NEWSWIRE) -- The Increase in investments in residential and non-residential construction sectors, growth in electronic industries, and growth in automotive industry are the significant factors that are expected to propel the growth of the plastic fasteners market

The global Plastic Fasteners Market was valued at USD 4.60 Billion in 2018 and is expected to reach USD 7.52 Billion by year 2026, at a CAGR of 6.4 %. The Plastic Fasteners Market is driven by the by the increasing investments in residential and non-residential construction sectors, surge in electronic industries, and growth in automotive industry. Growth in the above sectors are anticipated to generate lucrative growth opportunities to the key players involved in the Plastic Fasteners Market. Likewise, the need of. Plastic fasteners is rising due to the introduction of the same or even an improved fastener technology to that of the metal counterpart, which is further expected to spur the growth of the global plastic fasteners market. Likewise, the emerging markets of Asia-Pacific and Latin America are anticipated to provide stellar avenues for the key players involved in the global plastic fasteners market.

The automotive and aerospace industries are struggling to keep the weight of the object low, this purpose served by screw and fastener, it has seen unprecedented growth due to the current need to meet light weight automotive. Properties of plastic makes it usable for the application of Plumbing valves, pipes, decorative handles, seals, and more, they are shifting toward plastic because it is less susceptible to corrosion and disfigurement, especially compared to traditional metals. The global vehicle purchase increase from 892 million units in 2005 to 1.3 billion units in 2015, construction is increasing globally, these are the key drivers for the global plastic fasteners market growth. Furthermore, the demand of different products is likely to increase during the analysis period, thereby boosting the global plastic fasteners market.     

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Further key findings from the report suggest

• Asia Pacific region is expected to grow with the highest CAGR of 6.6% from 2019-2026 in the global plastic fasteners market due to growing nation and increase in population of the major economic countries like China and India, followed by Middle East Africa region which is registered with the CAGR of 6.5%
• Plastic is useful prevent electrical conductivity in certain areas of the electronic or electrical device, it is used in everything from the housing to the plastic screws, plastic washers and special fasteners
• The automotive and aerospace industries are struggling to keep the weight of the object low, this purpose is being served by products; hence this industry it has seen unprecedented growth due to the current need to meet light weight automotives
• Properties of Plastic makes it usable for the application of Plumbing valves, pipes, decorative handles, seals, and more, they are shifting toward plastic because it is less susceptible to corrosion and disfigurement, especially compared to traditional metals
• Key participants in the global plastic fasteners market include Illinois Tool Works, Nifco, Stanley Black & Decker, Bossard Group, E & T Fasteners, micro plastics, Craftech Industries, Melfast, Volt Industrial Plastics, Avery Dennison Corporation, Araymond, ATF Inc.

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Segments covered in the report:

For the purpose of this report, Reports and Data has segmented the Plastic Fasteners market on the basis of material Type, Product type, End-use and region:                     

Material (Revenue, USD Million; 2016–2026)

• Nylon
• Polyarylamide
• Thermoplastic Polyurethane
• PEEK and PPA
• Other

Product type (Revenue, USD Million; 2016–2026)

• Rivets and push in clips
• cable ties and clips
• thread fastener
• washer, spacers and bushes
• other

End-Use (Revenue, USD Million; 2016–2026)

• Automotive
• Building construction
• Electrical and electronics
• Retail
• other

Regional Outlook (Revenue in USD Million; 2016–2026)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of the Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Rest of Asia-Pacific
• Middle East & Africa
  • Latin America
• Brazil

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