The growth of the construction industry in many countries due to population growth leads to increased demand for Automotive Plastic Fasteners. Due to their ability to withstand high voltages, Automotive Plastic Fasteners are widely used in electrical applications. It is preferred over metals due to its advantages such as strength, chemical resistance, corrosion resistance, toughness and adaptability to needs.

Automotive Plastic Fasteners Market Size – USD 5.69 Billion in 2021, Growth – at a CAGR of 6.4%, Trends – Guaranteed to be corrosion resistant and have outstanding strength properties.

-The global Automotive Plastic Fasteners Market size was USD 54.11 Billion in 2021 and is expected to register a revenue CAGR of 4.6% over the forecast period, according to the latest report by Reports and Data. Adoption is increasing.In addition, Automotive Plastic Fasteners are preferred by many engineers and builders due to their properties such as safety, no reaction to temperature changes, no corrosion and no deterioration.

The demand for Automotive Plastic Fasteners is increasing due to the increasing need for Automotive Plastic Fasteners to prevent conductivity in certain areas of electronic or electrical equipment. Automotive Plastic Fasteners are versatile and made from lightweight materials. In addition, it is resistant to both low and high temperatures, impact and abrasion, organic solvents and gasoline, and has excellent dimensional stability and rigidity at high temperatures. It also reduces the time it takes to assemble a large number of electronic modules and components. Automotive Plastic Fasteners are increasingly used as hardware components in electronic devices to provide excellent wear resistance. In the electronics industry, Automotive Plastic Fasteners are a cost-effective alternative that can be placed as-is or customized to meet specific application needs. These factors are expected to drive the revenue growth of the market.

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Top Companies: Illinois Tool Works, Inc., Bossard Group, ARaymond, Stanley Black Decker, Inc., E T Fasteners, Volt Industrial Plastics, Nifco, Inc., Elgin Fastener Group, Decker Industries Corporation, and Dokka Fasteners A S.

Further Key Finding from the Report Suggestion:

• Based on product type, the global plastic fastener market is segmented into rivets snaps, cable ties clips, thread fasteners, washers, spacers, bushings and others. Rivets and clips segment is expected to account for the largest share of revenue during the forecast period due to the growing need for simple and cost-effective fastening solutions, especially in applications with difficult or restricted access. increase. A rivet's main function is to join two objects together. Provides a strong, secure attachment and is a lightweight fastener. Additionally, due to their adaptability, these rivets offer excellent fastening options for both light and heavy applications. As a result, it finds many applications in electronic components, telecommunications systems, and various commodities such as sheet metal assemblies, submarines, and aircraft. It also helps to accommodate tensile and shear stresses in furniture and other equipment.
• Rising disposable income, government supportive policies to promote industrial development, and availability of cheap raw materials have increased the demand for Automotive Plastic Fasteners in the region. This is another factor contributing to market growth in the Asia-Pacific region. According to data, China will be the world's largest plastic producer in her 2020, accounting for a large share of the total global plastic material production. To meet the growing end-user demand in the region, manufacturers are investing heavily in developing new Automotive Plastic Fasteners with higher strength and corrosion resistance. Moreover, growing consumer interest in the aesthetics of residential and commercial buildings is expected to boost the demand for Automotive Plastic Fasteners in countries such as China, India, and Japan.

Market Overview:

Consumers are placing a higher importance on sustainability and, as a result, are choosing items based on factors like circularity and carbon footprint. Furthermore, consumer concern about carbon emissions has prompted increased investment in renewable energy, energy efficiency, and transportation decarbonization. These developments have had considerable impact on chemical end sectors, particularly in the automobile and construction industries. COVID-19 has exacerbated the situation by lowering the automobile and construction industries (as well as many others) and disrupting current supply lines.

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The global Automotive Plastic Fasteners Market is segmented into:

Material Type Outlook (Revenue, USD Billion; 2019-2030)

• Nylon
• Polyacrylamide
• Thermoplastic Polyurethane
• PEEK and PPA
• Others

Product Type Outlook (Revenue, USD Billion; 2019-2030)

• Rivets and Push-in-Clips
• Cable Ties and Clips
• Thread Fastener
• Washer, Spacers, and Bushes
• Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

• Automotive
• Building Construction
• Electrical Electronics
• Retail
• Others

Regional Outlook:

• North America (U.S.A., Canada, Mexico)
• Europe (Italy, U.K., Germany, France, Rest of Europe)
• Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
• Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
• Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Key Questions Addressed in the Report:

• What are the dominating factors that are influencing the growth of the industry?
• In the forecast period, which market segment is expected to rise the most?
• What are the risks and challenges that the industry is facing?
• In the coming years, which area is projected to dominate the market?
• Who are the major players in the market?
• What kind of strategic business plans have they made?

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