Demand for Automotive Plastic Fasteners to Grow at 11.8% CAGR to 2022, Expects Grand View Research in Its Topical Study Available at MarketPublishers.12 Sep 2017 • by Natalie Aster
LONDON – Expanding substitution of metal fasteners in automotive interiors due to improved aesthetics along with lightweight characteristics is poised to fuel the demand for automotive plastic fasteners in the coming years; the demand is set to grow at a 11.8% CAGR over 2017-2022. However, the demand growth could be restrained by low tensile strength of plastic fasteners in high stress applications.
The plastic fasteners production is strongly dependent on production volumes of the automotive industry in the major economies across the globe. Today, this market is highly fragmented and competitive due to the fact that different small-scale producers are concentrated in certain countries, for instance, Germany, China and Thailand.
Illinois Tool Works Incorporated (ITW), ARaymond and Alcoa are the leading participants in the automotive plastic fasteners.
The world’s automotive plastic fasteners market is predicted to keep on growing during 2017-2021 to touch the value of USD 3.67 billion by the end of the forecast period.
Topical research study “Automotive Plastic Fasteners Market Analysis By Application, By Region, And Segment Forecasts, 2011 - 2021” worked out by Grand View Research Inc. gives profound insights into the current market scenario and reviews the present situation across the major regional markets. It includes relevant data on the market segmentation, shares, size, key growth influencing forces and prevailing and emerging trends. Moreover, this publication features the competitive landscape, provides data on the top companies active in this market, reviews the most recent developments and also offers access to a future outlook for the automotive plastic fasteners market with detailed forecasts through 2021.
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