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Global Plastic Fasteners Market to Grow at a CAGR of 6.12% During 2022-2027, Driven by the Increasing Construction Activities

According to a new report by EMR titled, ‘Global Plastic Fasteners Market Report and Forecast 2022-2027’, the market attained a value of about USD 5.33 billion in 2021. The industry is further expected to grow at a CAGR of 6.12% in the forecast period of 2022-2027 to reach a value of USD 7.65 billion by 2027.

The rapidly expanding construction industry owing to the heightened infrastructure development activities worldwide, is expected to drive market growth. One of the major factors responsible for this growth is the increased preference for plastic fasteners over metal fasteners, as they do not rust. Plastic fasteners are UV resistant, chemical-resistant, corrosion-resistant, durable, heat-resistant, non-conductive, and lightweight. The rising research and development activities are positively impacting the market growth. For instance, new innovations allow for plastic fasteners to be customised in any shape or colour according to the requirements. The automotive industry is expected to propel market growth in the coming years.

The growing collaborations and mergers among the key market players of the plastic fastener industry are expected to attract further investments, which is predicted to provide lucrative growth opportunities for the market in the forecast period. In April 2021, Stanley Black & Decker (NYSE: SWK), a leading manufacturer of industrial tools and household hardware, announced the acquisition of Nelson® Fastener System’s industrial business, which specialises in welding and fastening solutions. Such developments are projected to positively impact the industry growth in the forecast period.

Market Analysis by Product Type, End-User, and Region:

  • The market, on the basis of product type, can be divided into washers and spacers, grommets and bushings, threaded fasteners, rivets and push-in clips, cable clips and ties, and wall plugs, among others.
  • Based on end-user, the industry can be divided into automotive, electrical and electronics, building and construction, among others.
  • The regional markets for plastic fasteners include North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.

Key Findings of the Report:

  • The growing construction activities worldwide are providing growth potential for the market.
  • Increased investments in research and development activities are driving the market of plastic fasteners.
  • The rising demand for affordable and lightweight vehicles is leading to the increased application of plastic fasteners, which is expected to bolster the market growth.
  • The multifaceted application potential of plastic fasteners and corrosion-resistant composition is projected to augment its demand across industry verticals, aiding the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for plastic fasteners for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecast (2022-2027) markets for the product types, end-users, and regions of plastic fasteners.
  • It assesses the regional price trends for the (2017-2021) and (2022-2027) periods.
  • The market report also analyses the trade data by covering the major importing and exporting countries.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global plastic fasteners market are Illinois Tool Works Inc., Raygroup SASU, Nifco Inc., Stanley Black & Decker, Inc., and Bossard Group, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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