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Plastic Fasteners Market by End-user and Geography - Forecast and Analysis 2021-2025

  • Published: Dec 2021
  • Pages: 112
  • SKU: IRTNTR70984
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The plastic fasteners market share is expected to increase by USD 1.83 billion from 2020 to 2025, and the market's growth momentum will decelerate at a CAGR of 6.4%.

This plastic fasteners market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers plastic fasteners market segmentations by end-user (automotive, electrical and electronics, building and construction, supermarkets, and others) and geography (APAC, Europe, North America, MEA, and South America). The plastic fasteners market report also offers information on several market vendors, including Avery Dennison Corp., Bossard Holding AG, Illinois Tool Works Inc., MW Industries Inc., Nifco Inc., Nyltite Corp., Penn Engineering, Raygroup SASU, Shanghai Yuanmao Fastener Co. Ltd., and Stanley Black and Decker Inc. among others.

What will the Plastic Fasteners Market Size be During the Forecast Period?

Plastic Fasteners Market Size

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Plastic Fasteners Market: Key Drivers, Trends, and Challenges

The cost advantages of using plastic fasteners is notably driving the plastic fasteners market growth, although factors such as stringent regulations against the use of plastic may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the plastic fasteners industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Plastic Fasteners Market Driver

One of the key factors driving the plastic fasteners market growth is the cost advantages of using plastic fasteners. Plastic fasteners are highly affordable as compared to other types of fasteners such as metal. Plastic fasteners are significantly used in several end-user industries, such as construction and automotive, and supermarkets. They are highly efficient and offer numerous advantages, such as they do not conduct heat or electricity, are rustproof, and absorb harmful ultraviolet (UV) rays from the sun. Thus, plastic fasteners offer numerous advantages and are simply low-cost materials that enhance the demand for global plastic fasteners during the forecast period. Moreover, in industries such as automotive, where a huge amount of production of a vehicle is required, plastic fasteners are highly preferable as they are significantly cost-effective compared to other types of fasteners available in the market. 

Key Plastic Fasteners Market Trend

Another key factor driving plastic fasteners market growth is the growing popularity of lightweight fastener solutions. The plastic fasteners are made up of a variety of materials such as nylon, PVC, and even polypropylene. As plastic fasteners are made up of these materials, they are light in weight, which makes them effective for several applications in the construction industry. Moreover, due to its low weight, plastic fasteners are also majorly used in forming circuit board, which is used for spacing, securing, guiding, and supporting electronics.  Plastics are highly versatile and are used in applications where weight, thermal, environmental, chemical, and electrical properties are a significant consideration for end-use. They meet a wide variety of design requirements depending on what is needed from the project and simplify it. For instance, a single plastic fastener can replace several metal components. Moreover, industries such as automotive, where enhanced and advanced automation techniques are highly used, enhance the need for lightweight components which are highly reliable and efficient. Such factors are expected to drive the demand for plastic fasteners during the forecast period.

Key Plastic Fasteners Market Challenge

Stringent regulations against the use of plastic is one of the key challenges hindering the plastic fasteners market growth. The constant push from regulatory agencies such as the Registration, Evaluation, Authorization and Restriction of Chemicals (REACH) and Environmental Protection Agency (EPA) on the use of plastics is expected to impede the growth of the global plastic fasteners market during the forecast period. For instance, in Europe, the European Food Safety Agency (EFSA) approves the use of plastics in food contact applications. On March 27, 2008, the European Commission (EC) EC 282/2008 regulation on plastic materials and articles that are intended to come in contact with food was published. As per this regulation, only food contact materials and articles that contain plastic obtained from an authorized recycling process may be marketed in Europe. Such stringent regulations can negatively impact the use of plastics in supermarkets and other industries, which will hinder the growth of the global plastic fasteners market during the forecast period.

This plastic fasteners market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.

Parent Market Analysis

Technavio categorizes the global plastic fasteners market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the plastic fasteners market during the forecast period.

Who are the Major Plastic Fasteners Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

  • Avery Dennison Corp.
  • Bossard Holding AG
  • Illinois Tool Works Inc.
  • MW Industries Inc.
  • Nifco Inc.
  • Nyltite Corp.
  • Penn Engineering
  • Raygroup SASU
  • Shanghai Yuanmao Fastener Co. Ltd.
  • Stanley Black and Decker Inc.

This statistical study of the plastic fasteners market encompasses successful business strategies deployed by the key vendors. The plastic fasteners market is fragmented and the vendors are deploying growth strategies such as organic and inorganic strategies to compete in the market.

Product Insights and News

  • Avery Dennison Corp. - The company offers wide range of plastic fasteners such as Elastic Staple and Plastic Staple System.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The plastic fasteners market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Plastic Fasteners Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the plastic fasteners market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.

Which are the Key Regions for Plastic Fasteners Market?

Plastic Fasteners Market Market segmentation by region

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43% of the market's growth will originate from APAC during the forecast period. China and India are the key markets for plastic fasteners in APAC. Market growth in this region will be faster than the growth of the market in other regions.

Plastic fasteners are used in the automotive industry primarily for their superior properties, such as high tensile strength and stiffness, high creep resistance, and excellent wear resistance. In 2020, the plastic fasteners market in APAC accounted for a significant market share of the global market, which was attributed to the region's rising automotive production and the growing construction industry. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

In 2020, the outbreak of COVID-19 adversely affected the global plastic fasteners market in the region. The plastic fasteners manufacturing industry in countries such as India, China, and Japan was facing a shortage of skilled workers due to COVID-19-induced restrictions, which, in turn, led to complex supply chain disruptions. With the resumption of operations in the construction and automotive industries from H1 2021, the market has been recovering. Moreover, government initiatives to promote plastic fasteners in the automotive and other end-use industries will escalate the market's growth during the forecast period.  

What are the Revenue-generating End-user Segments in the Plastic Fasteners Market?

Plastic Fasteners Market Segmentation

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The plastic fasteners market share growth by the automotive will be significant during the forecast period. Plastic fasteners are used as substitutes for metal components in the automotive industry. Plastic fasteners are used to produce lightweight, fuel-efficient, and environment-friendly automotive because of the stringent environmental regulations on vehicle emissions. Companies such as Jaguar Land Rover Ltd., BMW AG, Ford Motor Co., and Renault SA are among the top manufacturers of vehicles across the world. These companies have large manufacturing hubs for automotive production in various countries. Such factors constitute the growth of the automotive segment, which, in turn, will drive the growth of the market during the forecast period.

Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the plastic fasteners market size and actionable market insights on post COVID-19 impact on each segment.

 

Plastic Fasteners Market Scope

Report Coverage

Details

Page number

120

Base year

2020

Forecast period

2021-2025

Growth momentum & CAGR

Decelerate at a CAGR of 6.4%

Market growth 2021-2025

$ 1.83 billion

Market structure

Fragmented

YoY growth (%)

8.97

Regional analysis

APAC, Europe, North America, MEA, and South America

Performing market contribution

APAC at 43%

Key consumer countries

US, China, Germany, India, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Avery Dennison Corp., Bossard Holding AG, Illinois Tool Works Inc., MW Industries Inc., Nifco Inc., Nyltite Corp., Penn Engineering, Raygroup SASU, Shanghai Yuanmao Fastener Co. Ltd., and Stanley Black and Decker Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

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What are the Key Data Covered in this Plastic Fasteners Market Report?

  • CAGR of the market during the forecast period 2021-2025
  • Detailed information on factors that will drive plastic fasteners market growth during the next five years
  • Precise estimation of the plastic fasteners market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the plastic fasteners industry across APAC, Europe, North America, MEA, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of plastic fasteners market vendors

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1 Executive Summary

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 01: Parent market
    • Exhibit 02: Market characteristics
  • 2.2 Value chain analysis
    • Exhibit 03: Value chain analysis: Electrical components and equipment

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 04: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 05: Market segments
  • 3.3 Market size 2020
    • 3.4 Market outlook: Forecast for 2020 - 2025
      • Exhibit 06: Global - Market size and forecast 2020 - 2025 ($ million)
      • Exhibit 07: Global market: Year-over-year growth 2020 - 2025 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 08: Five forces analysis 2020 & 2025
    • 4.2 Bargaining power of buyers
      • Exhibit 09: Bargaining power of buyers
    • 4.3 Bargaining power of suppliers
      • Exhibit 10: Bargaining power of suppliers
    • 4.4 Threat of new entrants
      • Exhibit 11: Threat of new entrants
    • 4.5 Threat of substitutes
      • Exhibit 12: Threat of substitutes
    • 4.6 Threat of rivalry
      • Exhibit 13: Threat of rivalry
    • 4.7 Market condition
      • Exhibit 14: Market condition - Five forces 2020

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 15: End-user - Market share 2020-2025 (%)
    • 5.2 Comparison by End-user
      • Exhibit 16: Comparison by End-user
    • 5.3 Automotive - Market size and forecast 2020-2025
      • Exhibit 17: Automotive - Market size and forecast 2020-2025 ($ million)
      • Exhibit 18: Automotive - Year-over-year growth 2020-2025 (%)
    • 5.4 Electrical and electronics - Market size and forecast 2020-2025
      • Exhibit 19: Electrical and electronics - Market size and forecast 2020-2025 ($ million)
      • Exhibit 20: Electrical and electronics - Year-over-year growth 2020-2025 (%)
    • 5.5 Building and construction - Market size and forecast 2020-2025
      • Exhibit 21: Building and construction - Market size and forecast 2020-2025 ($ million)
      • Exhibit 22: Building and construction - Year-over-year growth 2020-2025 (%)
    • 5.6 Supermarkets - Market size and forecast 2020-2025
      • Exhibit 23: Supermarkets - Market size and forecast 2020-2025 ($ million)
      • Exhibit 24: Supermarkets - Year-over-year growth 2020-2025 (%)
    • 5.7 Others - Market size and forecast 2020-2025
      • Exhibit 25: Others - Market size and forecast 2020-2025 ($ million)
      • Exhibit 26: Others - Year-over-year growth 2020-2025 (%)
    • 5.8 Market opportunity by End-user
      • Exhibit 27: Market opportunity by End-user

    6 Customer Landscape

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 29: Market share by geography 2020-2025 (%)
    • 7.2 Geographic comparison
      • Exhibit 30: Geographic comparison
    • 7.3 APAC - Market size and forecast 2020-2025
      • Exhibit 31: APAC - Market size and forecast 2020-2025 ($ million)
      • Exhibit 32: APAC - Year-over-year growth 2020-2025 (%)
    • 7.4 Europe - Market size and forecast 2020-2025
      • Exhibit 33: Europe - Market size and forecast 2020-2025 ($ million)
      • Exhibit 34: Europe - Year-over-year growth 2020-2025 (%)
    • 7.5 North America - Market size and forecast 2020-2025
      • Exhibit 35: North America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 36: North America - Year-over-year growth 2020-2025 (%)
    • 7.6 MEA - Market size and forecast 2020-2025
      • Exhibit 37: MEA - Market size and forecast 2020-2025 ($ million)
      • Exhibit 38: MEA - Year-over-year growth 2020-2025 (%)
    • 7.7 South America - Market size and forecast 2020-2025
      • Exhibit 39: South America - Market size and forecast 2020-2025 ($ million)
      • Exhibit 40: South America - Year-over-year growth 2020-2025 (%)
    • 7.8 Key leading countries
      • Exhibit 41: Key leading countries
    • 7.9 Market opportunity by geography
      • Exhibit 42: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • Exhibit 43: Impact of drivers and challenges
      • 8.3 Market trends

        9 Vendor Landscape

        • 9.1 Vendor landscape
          • Exhibit 44: Vendor landscape
        • 9.2 Landscape disruption
          • Exhibit 45: Landscape disruption
          • Exhibit 46: Industry risks

        10 Vendor Analysis

        • 10.1 Vendors covered
          • Exhibit 47: Vendors covered
        • 10.2 Market positioning of vendors
          • Exhibit 48: Market positioning of vendors
        • 10.3 Avery Dennison Corp.
          • Exhibit 49: Avery Dennison Corp. - Overview
          • Exhibit 50: Avery Dennison Corp. - Business segments
          • Exhibit 51: Avery Dennison Corp. - Key offerings
          • Exhibit 52: Avery Dennison Corp. - Segment focus
        • 10.4 Bossard Holding AG
          • Exhibit 53: Bossard Holding AG - Overview
          • Exhibit 54: Bossard Holding AG - Business segments
          • Exhibit 55: Bossard Holding AG - Key news
          • Exhibit 56: Bossard Holding AG - Key offerings
          • Exhibit 57: Bossard Holding AG - Segment focus
        • 10.5 Illinois Tool Works Inc.
          • Exhibit 58: Illinois Tool Works Inc. - Overview
          • Exhibit 59: Illinois Tool Works Inc. - Business segments
          • Exhibit 60: Illinois Tool Works Inc. - Key news
          • Exhibit 61: Illinois Tool Works Inc. - Key offerings
          • Exhibit 62: Illinois Tool Works Inc. - Segment focus
        • 10.6 MW Industries Inc.
          • Exhibit 63: MW Industries Inc. - Overview
          • Exhibit 64: MW Industries Inc. - Product and service
          • Exhibit 65: MW Industries Inc. - Key offerings
        • 10.7 Nifco Inc.
          • Exhibit 66: Nifco Inc. - Overview
          • Exhibit 67: Nifco Inc. - Business segments
          • Exhibit 68: Nifco Inc. - Key offerings
          • Exhibit 69: Nifco Inc. - Segment focus
        • 10.8 Nyltite Corp.
          • 10.9 Penn Engineering
            • Exhibit 73: Penn Engineering - Overview
            • Exhibit 74: Penn Engineering - Product and service
            • Exhibit 75: Penn Engineering - Key news
            • Exhibit 76: Penn Engineering - Key offerings
          • 10.10 Raygroup SASU
            • Exhibit 77: Raygroup SASU - Overview
            • Exhibit 78: Raygroup SASU - Product and service
            • Exhibit 79: Raygroup SASU - Key offerings
          • 10.11 Shanghai Yuanmao Fastener Co. Ltd.
            • Exhibit 80: Shanghai Yuanmao Fastener Co. Ltd. - Overview
            • Exhibit 81: Shanghai Yuanmao Fastener Co. Ltd. - Product and service
            • Exhibit 82: Shanghai Yuanmao Fastener Co. Ltd. - Key offerings
          • 10.12 Stanley Black and Decker Inc.
            • Exhibit 83: Stanley Black and Decker Inc. - Overview
            • Exhibit 84: Stanley Black and Decker Inc. - Business segments
            • Exhibit 85: Stanley Black and Decker Inc. - Key news
            • Exhibit 86: Stanley Black and Decker Inc. - Key offerings
            • Exhibit 87: Stanley Black and Decker Inc. - Segment focus

          11 Appendix

          • 11.1 Scope of the report
            • 11.2 Currency conversion rates for US$
              • Exhibit 88: Currency conversion rates for US$
            • 11.3 Research methodology
              • Exhibit 89: Research Methodology
              • Exhibit 90: Validation techniques employed for market sizing
              • Exhibit 91: Information sources
            • 11.4 List of abbreviations
              • Exhibit 92: List of abbreviations

            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.

            TechnavioINFORMATION SOURCES

            Primary sources

            • Manufacturers and suppliers
            • Channel partners
            • Industry experts
            • Strategic decision makers

            Secondary sources

            • Industry journals and periodicals
            • Government data
            • Financial reports of key industry players
            • Historical data
            • Press releases
            Technavio

            TechnavioDATA ANALYSIS

            Data Synthesis

            • Collation of data
            • Estimation of key figures
            • Analysis of derived insights

            Data Validation

            • Triangulation with data models
            • Reference against proprietary databases
            • Corroboration with industry experts
            Technavio

            TechnavioREPORT WRITING

            Qualitative

            • Market drivers
            • Market challenges
            • Market trends
            • Five forces analysis

            Quantitative

            • Market size and forecast
            • Market segmentation
            • Geographical insights
            • Competitive landscape
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            Plastic Fasteners Market market growth will increase by $1.83 bn during 2021-2025.
            The plastic fasteners market market is expected to grow at a CAGR of 6.4% during 2021-2025.
            Technavio has segmented the plastic fasteners market market by end-user (automotive, electrical and electronics, building and construction, supermarkets, and others) and geography (APAC, Europe, North America, MEA, and South America).
            Avery Dennison Corp., Bossard Holding AG, Illinois Tool Works Inc., MW Industries Inc., Nifco Inc., Nyltite Corp., Penn Engineering, Raygroup SASU, Shanghai Yuanmao Fastener Co. Ltd., Stanley Black and Decker Inc. are a few of the key vendors in the plastic fasteners market market.
            APAC will register the highest growth rate of 43% among the other regions. Therefore, the plastic fasteners market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
            The key factors driving the plastic fasteners market market growth are:
            • cost advantages of using plastic fasteners
            • growing popularity of lightweight fastener solutions
            The plastic fasteners market market vendors should focus on grabbing business opportunities from the automotive segment as it accounted for the largest market share in the base year.
            • What are the key global market and the regional market share?
            • What are the revenue-generating key market segments?
            • What are the key factors driving and challenging this market’s growth?
            • Who are the key market vendors and their growth strategies?
            • What are the latest trends influencing the growth of this market?
            • What are the variables influencing the market growth in the primary regions?
            • What are the factors influencing the growth of the parent market?
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            • Data on revenue-generating market segments
            • Details on the market shares of various regions
            • Five-force market analysis

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