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The plastic fasteners market size is forecast to increase by USD 1.37 billion at a CAGR of 4.5% between 2023 and 2028.
The plastic fasteners industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The automotive segment is estimated to witness significant growth during the forecast period.
Plastic fasteners have gained significant traction in various industries, particularly in the furniture industry and consumer goods, due to their cost-effective solutions and lightweight design. In the furniture industry, plastic fasteners are used extensively in the production of chairs, tables, and cabinets, ensuring temperature resistance and chemical resistance for long-lasting use. Similarly, in consumer goods, plastic fasteners contribute to the assembly of various products, including toys, electronics, and appliances, with push-in fasteners, zip ties, and cable ties providing vibration resistance and impact resistance. In the realm of fastener manufacturing, snap fasteners and self-tapping screws are popular choices due to their fastener testing capabilities and assembly automation.
Rivet nuts and injection molding techniques are used to enhance fastener durability and design intricacy. Sustainable materials, such as recycled plastics, are increasingly being utilized to reduce environmental impact. Fasteners are subjected to rigorous testing for performance metrics like fastener strength, corrosion resistance, and fastener certification. UV resistance is also a crucial factor, especially for outdoor applications. The product lifecycle of plastic fasteners is a critical consideration, with manufacturers focusing on enhancing fastener performance and ensuring fastener durability to meet evolving consumer demands.
The Automotive segment was valued at USD 1.61 billion in 2018 and showed a gradual increase during the forecast period.
Europe is estimated to contribute 30% to the growth of the global market during the forecast period.Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
In the dynamic global market for plastic fasteners, APAC holds a substantial share due to its thriving industries, particularly automotive and construction. Plastic fasteners, recognized for their cost-effective solutions, are increasingly preferred for their superior properties. In the automotive sector, they offer benefits such as high tensile strength, stiffness, creep resistance, and excellent wear resistance, contributing to lighter vehicle designs and improved fuel efficiency. This trend is particularly prominent in APAC, where China, the world's leading automobile producer, accounts for over 30% of global production. Moreover, plastic fasteners are indispensable in consumer goods manufacturing, where they ensure product durability and performance.
Fastener design innovations, including injection molding, push-in fasteners, zip ties, cable ties, and self-tapping screws, cater to diverse industry needs. These fasteners exhibit desirable properties such as temperature resistance, lightweight design, chemical resistance, UV resistance, and fastener testing ensures their reliability. Furthermore, assembly automation and the adoption of sustainable materials, like recycled plastics, are shaping the market. Fasteners must also meet stringent requirements, such as vibration resistance, fastener strength, impact resistance, fastener performance, corrosion resistance, and fastener certification, to ensure optimal product lifecycle. As the market evolves, plastic fasteners continue to offer innovative solutions, enhancing their appeal across various industries.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.The global plastic fasteners market is growing steadily, driven by demand for lightweight, corrosion-resistant, and cost-effective solutions. Plastic fasteners for automotive assembly help reduce vehicle weight and improve efficiency. In electronics, rivets and push-in clips offer secure, non-conductive fastening for delicate components.
The rise of green construction fuels demand for biodegradable fasteners, while lightweight fasteners for electric vehicles support eco-friendly mobility. Nylon screws for consumer appliances are valued for durability and insulation. The aerospace sector benefits from 3D printed fasteners, offering customization and reduced weight. Sustainability goals are advancing eco-friendly fasteners and recyclable plastic fasteners in manufacturing. High-strength polymer fasteners for marine ensure durability in harsh conditions, while cable clips for automotive wire harnessing enhance electrical safety and organization.
The plastic fasteners market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the plastic fasteners market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, plastic fasteners market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
Illinois Tool Works Inc. - This company specializes in manufacturing and supplying a range of plastic fasteners, including plastic staple fasteners. Our product line caters to various industries, providing durable and versatile solutions for securing and joining materials. With a commitment to innovation, we continuously research and develop new fastener designs to enhance functionality and efficiency. Our plastic fasteners offer several advantages over traditional counterparts, such as resistance to corrosion, lighter weight, and improved strength. By utilizing advanced manufacturing techniques and quality materials, we ensure consistent product performance and reliability. Our dedication to excellence makes US a trusted partner for businesses seeking high-quality plastic fasteners.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market encompasses a diverse range of products and processes, with key factors influencing its dynamics and trends. Cost is a significant consideration in fastener assembly, as reliability and durability are essential for various applications. Fastener materials, such as engineering-grade plastics, continue to evolve, driving innovations in fastener technologies. Fastener standards and specifications ensure consistent performance and safety, while testing and certification processes validate these attributes. Fastener removal and installation processes must balance efficiency and damage prevention, with sustainability becoming an increasingly important consideration. Durability and efficiency are critical in fastener manufacturing processes, with innovations in automation and recycling technologies driving cost savings and reduced environmental impact.
The global plastic fasteners market is evolving with a strong focus on innovation, sustainability, and performance. Eco-friendly fasteners and biodegradable fastener materials are gaining traction amid growing environmental regulations. Manufacturers are developing recyclable plastic fasteners and lightweight fastener designs to support efficiency in electric vehicles and consumer goods. High-strength polymer fasteners offer corrosion resistance and durability for marine and industrial applications. Emerging smart fastener systems integrate sensors for enhanced monitoring and performance. Vibration-resistant clips are essential in automotive and aerospace sectors. Demand is rising for customizable fastener solutions enabled by 3D printing. Hybrid metal-plastic fasteners combine strength and flexibility, while fastener durability enhancements ensure long-lasting performance across high-stress environments, driving growth across multiple end-use industries.
Fastener design considerations must balance performance, safety, and cost, with applications spanning industries from automotive to construction. Fastener trends include advancements in material science, such as high-performance polymers, and the integration of smart technologies for enhanced functionality. Regulations governing fastener safety and environmental impact continue to evolve, shaping the market landscape.
Dive into Technavio's robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Plastic Fasteners Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
156 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 4.5% |
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Market growth 2024-2028 |
USD 1366.6 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
4.23 |
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Key countries |
US, China, Germany, Canada, India, South Korea, France, Japan, Italy, Brazil, UAE, UK, Spain, and Mexico |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product
8 Market Segmentation by Material Type
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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