Global Plastic Fasteners Market

Plastic Fasteners Market Size, Share, Growth Analysis, By Product(Cable Ties, Push Fasteners, Rivets, Clips), By Distribution Channel(Direct and Indirect), By End-user(Automotive, Electrical & Electronics, Building & Construction, Supermarkets), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2856 | Region: Global | Published Date: March, 2024
Pages: 194 | Tables: 92 | Figures: 74

Plastic Fasteners Market Regional Insights

In North America, the U.S. dominates the global plastic fasteners industry in terms of consumption due to the presence of extensive manufacturing of automotive electronics and aerospace companies making it a major consumer of automotive fasteners is expected to have a positive impact on the growth of the industry. The demand for plastic packaging is directly related to the performance of many end-use industries, including packaging, electronics, construction, and automotive. The importance of lightweight, corrosion resistant plastic packaging as these projects expands and potentially grow is needed.

Asia-Pacific is the fastest growing region in the world, with a market share of over 44% by 2023. The global plastic fasteners market in this region is primarily driven by automotive industrial machinery, electronics and components. The strategies driven by economic growth in Asia-Pacific, there is an increasing need to improve public infrastructure such as ports, airports, railways and transport infrastructure to drive the market into Asia Pacific.

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Global Plastic Fasteners Market size was valued at USD 7 Billion in 2022 and is poised to grow from USD 7.49 Billion in 2023 to USD 12.87 Billion by 2031, growing at a CAGR of 7.00% in the forecast period (2024-2031).

The competitive environment of the Global Plastic Fasteners Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options. 'Arconic Fastening Systems and Rings', 'Acument Global Technologies, In', 'ATF, Inc.', 'Dokka Fasteners A S', 'LISI Group - Link Solutions for Industry', 'Nippon Industrial Fasteners Company (Nifco)', 'Hilti Corporation', 'MW Industries, Inc.', 'Birmingham Fasteners and Supply, Inc.', 'SESCO Industries, Inc.', 'Elgin Fasteners Group LLC', 'Rockford Fasteners, Inc.', 'Slidematic', 'Manufacturing Associates, Inc.', 'Eastwood Manufacturing', 'Brunner Manufacturing CO., Inc.', 'Decker Industries Corporation', 'Penn Engineering & Manufacturing Corporation'

Increasing demand for packaging materials in electronic and electrical equipment manufacturing is projected to propel the market growth during the forecast period Plastic pipe packaging is superior to metal packaging, because it holds tools well and comes in a variety of shapes and sizes. These are widely used in circuit boards to protect, install, guide and support electronic devices. For example, nylon binders are commonly used in washing machines, household appliances and auto parts. Furthermore, increased investment in residential and non-residential construction projects is expected to drive the plastic binders' market further.

Plastic is used in everything from buildings to plastic screws, washers and specific fasteners to prevent electricity from flowing through certain electronic or electrical devices. The need to deal with lightweight vehicles, the automotive and aerospace industries are accomplishing this goal with products that seek to keep weight down. Thus, there was unprecedented growth in this work. The plastic's properties make it suitable for products like plumbing valves, pipes, ready handles and seals. People choose plastic over traditional metal because it is less prone to wear and tear.

In North America, the U.S. dominates the global plastic fasteners industry in terms of consumption due to the presence of extensive manufacturing of automotive electronics and aerospace companies making it a major consumer of automotive fasteners is expected to have a positive impact on the growth of the industry. The demand for plastic packaging is directly related to the performance of many end-use industries, including packaging, electronics, construction, and automotive. The importance of lightweight, corrosion resistant plastic packaging as these projects expands and potentially grow is needed.

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Global Plastic Fasteners Market

Report ID: SQMIG35A2856

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