Also, plastic fasteners are manufactured using injection molding techniques which reduce the raw material wastage, thus reducing the overall cost of manufacturing. The growing focus of car manufacturers on acoustic management and noise control in passenger and commercial vehicles helps expected to impact the product demand on a positive note. Alipay 1688.com The global automotive plastic fasteners market size was estimated at USD 2.18 billion in 2016. However, initiatives taken by automotive manufacturers in the region to produce electrically driven, lightweight vehicles are expected to have a positive impact on the industry growth over the next four years. Wire harnessing was the largest application scope for plastic fasteners in 2016, accounting for over 33.2% of the overall demand. However, increasing penetration of plastic fasteners to replace metal counterparts in the car interior, exterior, and other applications is expected to be the key factor driving theautomotive plastic fasteners market growth over the forecast period. Asia Pacific, being the largest automotive manufacturing region, dominate the plastic fastener industry in the world. China is one of the major automotive manufacturers in the world and is thus a key consumer of fasteners. The aforementioned factors are expected to have a positive impact on industry growth. Please fill out the form below for a free PDF report sample & Also, the product has a low tensile strength which makes it less effective in applications involving high physical stress thus, affecting the product demand. - However, passenger cars dominated the segment in 2016 and is expected to grow at a CAGR of 9.5% from 2017 to 2021. The country produced over 5,707,900 cars in 2015. By function, they are segmented into bonding and NVH. The report will account for Covid19 as a key market contributor. | Affiliate, Product Listing Policy However, the scope for innovative product designs is likely to open new avenues for the emerging market players. The product offers high durability and corrosion resistance. Increasing demand for high-efficiency cars with superior performance has led to the demand for lightweight components in the automotive industry. Automotive production directly influences the demand for plastic fasteners determining the growth of the industry over the forecast period. As a result, the demand for plastic fasteners in this application is expected to remain low as compared to that in other applications. As a result, automotive manufacturers are likely to prefer plastic fasteners over metal counterparts, thereby impacting industry growth on a positive note. | Automotive Plastic Fasteners Market Size, Industry Report, 2018-2021. We are GDPR and CCPA compliant! | Country Search Your transaction & personal information is safe and secure. Bonding was the dominating segment in 2016, accounting for over 83.1% of the overall consumption. A majority of the plastic fasteners are non-threaded and are used to assemble small and lightweight parts of the automobile interior, exterior, and wire harnesses. The mining industry accounts for a vital share of the global economy and is responsible for supplying key raw materials for several applications and end-use industries, thus being a key sector of focus amidst the ongoing pandemic outbreak. Free upgrade to enterprise license (allows to share across all company locations), 5. The plastic fasteners industry is expected to witness significant growth in automotive applications owing to their lightweight, low cost, and technological innovations to improve their properties in terms of strength and mechanical resistance. As a result, the demand for plastic fasteners in this application is expected to grow at a higher rate over the forecast period. The major players in the market have established long-term contracts with the automotive manufacturers as the product designs required very specific and various across the end-use applications. The product is available in various sizes and colors, thus offering aesthetic appeal to the designs of automobile interiors, without affecting the quality of the car. Discounted price for multiple reports across domains, 2. The iron ore prices reached above USD 90 per ton amidst the pandemic situation which may negatively impact the end-use industries. 1. Light commercial vehicles (LCVs) production is expected to grow at a higher rate than commercial cars. Global automotive plastic fastener market revenue, by application, 2016 (%). For the purpose of this study, Grand View Research has segmented the global automotive plastic fasteners market on the basis of application, function, vehicle type, and region: Application Outlook (Volume, Billion Units; Revenue, USD Million, 2011 - 2021), Function Outlook (Volume, Billion Units; Revenue, USD Million, 2011 - 2021), Vehicle Type Outlook (Volume, Billion Units; Revenue, USD Million, 2011 - 2021), Regional Outlook (Volume, Billion Units; Revenue, USD Million, 2011 - 2021), We never share your personal data. Product design, quality, and raw material selection are expected to be the key parameters for the industry players to sustain in the market. | This website is secure and your personal details are safe. The aforementioned factors are expected to have a positive impact on the plastic fasteners industry growth over the next four years. The improper selection of the product may cause distortion of these fasteners. Onetouch The key plastic fastener types used in the automotive industry include rivets, plugs, bushes, clips, grommets, nuts, screws, and cable ties. Germany was the largest market in Europe owing to a high volume of car production in the region. B2-20120091-4. | Increasing demand for plastic ties and clips to fasten wires into organized bundles is expected to have a positive impact on industry growth. We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities. All rights reserved. In addition, they are cheaper as compared to metal fasteners, which reduces the overall cost associated with the manufacturing of cars or LCVs. We value your investment and offer free customization with every report to fulfil your exact research needs. The production further increased to reach 5,746,800 units by the end of 2016. NVH in automobiles, owing to structure-borne and airborne noises, can lead to passenger discomfort and hamper vehicle durability. | - They can be molded into desired shapes and help in reducing the demand for multiple metal fasteners to secure the electronic assembly in automotive applications. Tmall Taobao World Major players such as BHP and Vale reported experiencing no major influence on their operations due to the COVID-19 virus. The product is manufactured in numerous forms such as nuts, bolts, washers, and studs. U.S. automotive plastic fasteners market revenue by vehicle type, 2011 - 2021 (USD Million). The demand for the product in NVH application was valued at USD 383.1 million in 2016 and is expected to ascend at a CAGR of 12.0% from 2017 to 2011. No purchase commitment. The government of India has initiated the Make in India movement, which primarily focuses on manufacturing sector growth in the region. The product is available in multiple colors and protects water ingress in metal parts and panel of vehicles, which further eliminates the issues related to corrosion. The market is highly competitive owing to the presence of numerous manufacturers across the world. - User Information Legal Enquiry Guide, 1999-2022 Alibaba.com. The aforementioned trend was reflected in demand for plastic fasteners as the product demand in the automotive application is directly influenced by automotive production statistics. Plastic manufacturers generate higher profit margins than metal fastener manufacturers owing to lower raw material prices and comparatively lower competition in the industry. "The quality of research they have done for us has been excellent.". Mining industries in China are expected to return to normal operations by Q3 of 2020 as enterprises indicated towards the returning of their workers soon. See for yourself. Automotive OEM is a key market for it accounting for over 25% of overall industrial fasteners demand. It is an important segment for the industry as manufacturers are focusing more on maximizing passenger and driver comfort by reducing NVH to offer a quieter and smoother ride. This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. Intellectual Property Protection Copyright 2022 Grand View Research, Inc. All rights reserved. Choose reports from a database of more than 10,000 reports. Our support available to help you 24 hours a day, five days a week. The growing automotive sector in developing economies, including India and Thailand, is expected to be a key market for the product. At present, the fasteners industry is dominated by metal fasteners. Privacy Policy. | Suppliers High demand for the product to bind wire harnessing and car interior parts is expected to have a positive impact on the industry over the next four years. - Moreover, the product does not damage or crack the plastic parts in the electronic assembly. The automotive industry in the U.S. is expected to grow at a slower pace over the next four years, which in turn is likely to hamper the demand for fasteners. They find wide application scope in both passenger cars and light commercial vehicles. Improved durability and greater stiffness are the major factors driving the demand for the product in bonding applications over the forecast period. The UK-based Fastener + Fixing Group offers plastic-headed fasteners under the brand name Hucktainer. However, the rising potential of the product in the automotive industry to replace metal counterparts is expected to compel manufacturers to invest in the plastic fasteners business over the projected period. 6. Moreover, Iron ore producers are known to be the least impacted. Powertrain components are usually subjected to high rotational speeds and temperature while adapting the output of an engine to the drive wheels. As a result, the demand for plastic fasteners in the region is expected to grow at a CAGR of 16.5% 2016 to 2021. This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2011 to 2021. Furthermore, they are available in various shapes and colors, which helps car manufacturers to maintain the aesthetic appeal of the vehicle. Free trial, before you make a purchase decision. 33010002000092 Lazada, Browse Alphabetically: Passenger car production accounts for about 80% of the overall automotive production, with Asia Pacific being the largest producer in terms of volume. As a result, automotive production in the country is expected to grow over the projected period, thus driving the product demand over the projected period. Free business intelligence platform with subscription, 4. The product is available in three major types including removable, semi-permanent, and permanent. Privacy Policy The rapid growth of the automotive sector in India is anticipated to have a positive impact on industry growth. Terms of Use Grand View Research is registered in the State of California at Grand View Research, Inc. 201 Spear Street 1100, San Francisco, CA 94105, United States. Well established buyer base for these players is expected to offer them a competitive advantage over the small scale manufacturers. The product offers high corrosion resistance, high thermal, and electrical insulation properties. Alibaba.com Site: International - Espaol - Portugus - Deutsch - Franais - Italiano - - P - - - - - Trk - Nederlands - ting Vit - Indonesian - , AliExpress The product demand in LCVs is likely to grow at a CAGR of 13.3% from 2017 to 2021. Complimentary 10 hours free analyst time for market review, 3. Volume in Billion Units, revenue in USD Million and CAGR from 2017 to 2021, North America, Europe, Asia Pacific, Rest of the world, Revenue forecast, company share, competitive landscape, growth factors and trends, 15% free customization scope (equivalent to 5 analyst working days), If you need specific market information, which is not currently within the scope of the report, we will provide it to you as a part of customization. | Showroom Growing demand for high-efficiency cars with superior performance has led to the demand for lightweight components in the automotive industry. The passenger car industry is witnessing major ups and downs over the past few years, which directly impacted the overall product consumption. However, when are subjected to elevated temperatures, they undergo severe deterioration impacting the performance. online dashboard trial.
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