Global Plastic Fasteners Industry Set to Surge: Projected Reach of US$ 15.8 billion by 2033 Spurred by High Demand in Electronics and Automotive Sectors

Plastic Fasteners Industry
Plastic Fasteners Industry

Plastic fasteners are solutions for joining or securing two or more objects together. They are gaining wider popularity due to their lightweight nature, cost-effectiveness, and corrosion resistance.

Growing demand for plastic fasteners across industries, such as automotive, electronics, and building & construction, is expected to boost the global market. Thanks to their attractive benefits, plastic fasteners are becoming ideal alternatives to traditional metal fasteners in several industries.

Overall sales of plastic fasteners are forecast to rise at 9.8% CAGR throughout the assessment period. The global plastic fasteners industry value is expected to total US$ 6.2 billion in 2023 and US$ 15.8 billion by 2033.

Rivets & push-in clips are anticipated to remain the most sought-after product types through 2033. This is due to their rising usage in the automotive and electronics industries. The target segment is poised to exhibit a CAGR of 9.6% during the assessment period.

Several factors are expected to stimulate growth in the plastic fasteners market. These include increasing usage of plastic fasteners in the automotive, aerospace, and electronics industries and advancements in plastic fastener materials.

Industries, such as electronics and building & construction, require flexible and corrosion-resistant fastening solutions. As a result, they are showing a keen inclination towards using plastic fasteners, thereby contributing to market expansion.

Rapid expansion of automotive sector and rising need for reducing weight and fuel efficiency of vehicles will likely uplift plastic fastener demand through 2033. This is because these lightweight fasteners can significantly reduce the overall weight of vehicles.

Get an overview of market drivers and challenges affecting this industry: https://www.futuremarketinsights.com/reports/sample/rep-gb-17930

Similarly, escalating popularity of electric & hybrid vehicles and innovation in materials are expected to influence the target market positively. Futuristic plastic fasteners market projection predicted the target market to expand more than 2.5X through 2033.

Key Takeaways from the Plastic Fasteners Market Report:

  • The global plastic fasteners industry is expected to reach US$ 15.8 billion by 2033.
  • By product type, rivets & push-in clips segment is poised to exhibit a 9.6% CAGR through 2033.
  • By end use, automotive segment is estimated to expand at 9.4% CAGR over the forecast period.
  • The United States is projected to attain a valuation of US$ 2.7 billion by 2033.
  • Demand in Japan is predicted to increase at 9.7% CAGR through 2033.
  • China market value is anticipated to reach US$ 2.9 billion by 2033.
  • Sales revenue in the United Kingdom is expected to reach US$ 506.8 million by 2033.
  • South Korea industry is expected to thrive at 9.4% CAGR through 2033.

“Amid increasing focus of industries on reducing cost and weight of products, demand for plastic fasteners is set to rise rapidly during the forecast period.  To gain maximum profits, key players are concentrating on developing new products made from recycled and eco-friendly materials.” – says a lead Future Market Insights analyst

Who is Winning?

Fontana Gruppo, Araymond, Anil Plastics & Enterprises, Arconic, Bossard Group, KGS Kitagawa Industries Co., Bulte Plastics, Shanghai Yuanmao Fastener Co., Canco Fasteners, Craftech Industries, E & T Fasteners, Illinois Tool Works, Joxco Seals, Penn Engineering, Micro Plastics, Nyltite Corporation, MW Industries, Nifco, Shamrock International Fasteners, and Stanley Black & Decker are key plastic fastener manufacturers listed in the report.

Key players are employing several organic and inorganic strategies to increase their sales and expand their footprint. These strategies include new product launches, facility expansions, mergers, partnerships, collaborations, and acquisitions. For instance,

  • In November 2022, Kuraray Fastening Co., Ltd. introduced new products in the MAGIC TAPE lineup of polyester hook-and-loop fasteners.
  • In April 2023, TR Fasteners introduced several new products, including screw rivets, barbed push-in rivets, kwik nuts, push screws, and shockproof snap rivets.

Interested in Procure The Data? Inquire here: https://www.futuremarketinsights.com/ask-question/rep-gb-17930

Segmentation in Plastic Fasteners Market Report

By Product Type:

  • Rivets & Push-in Clips
  • Cable Clips & Ties
  • Threaded Fasteners
  • Washers & Spacers
  • Grommets & Bushings
  • Wall Plugs
  • Other Product Types

By End Use:

  • Automotive
  • Electrical & Electronics
  • Building & Construction
  • Supermarkets
  • Other End-Uses

By Region:

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia and Pacific
  • Middle East and Africa

More Insights Available:

Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the global plastic fasteners market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.

The study reveals market projections based on product type (rivets & push-in clips, cable clips & ties, threaded fasteners, washers & spacers, grommets & bushings, wall plugs, and others), end use (automotive, electrical & electronics, building & construction, supermarkets, and others), and region (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia and Pacific, and Middle East and Africa).

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5,000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

Contact Us:       

Nandini Singh Sawlani  

Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
LinkedInTwitterBlogs | YouTube

About the Author

Nikhil Kaitwade

Associate Vice President at Future Market Insights, Inc. has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may also like these