NEW YORK, June 23, 2022 /PRNewswire/ — The Plastic Fasteners Market is segmented by end-user (automotive, electrical and electronics, building and construction, supermarkets, and others). The 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 automobiles 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.
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The Plastic Fasteners Market value is set to grow by USD 1.83 billion from 2020 to 2025, as per the latest report by Technavio. Moreover, 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.
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Plastic Fasteners Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Decelerate at a CAGR of 6.4% |
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Market growth 2021-2025 |
$ 1.83 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
8.97 |
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Regional analysis |
APAC, Europe, North America, MEA, and South America |
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Performing market contribution |
APAC at 43% |
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Key consumer countries |
US, China, Germany, India, and UK |
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Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
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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. |
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Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
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Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Plastic Fasteners Market 2021-2025: Segmentation
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…
Read More:Plastic Fasteners Market by End-user and Geography – Global Forecast to
