Global Automotive Plastic Fasteners Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027

MarketResearch.biz delivers in-depth insights on the global automotive plastic fasteners market in its upcoming report titled, “Global Automotive Plastic Fasteners Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global automotive plastic fasteners market is estimated to register a CAGR of X.X% in terms of value during forecast period 2018–2027. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2027. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global automotive plastic fasteners market report has been segmented on the basis of product type, distribution, end use, and region.

Fasteners are hardware device that joins two or more objects together. Fasteners are used to create non-permanent joints without damaging the joining objects. Plastic fasteners are considered for applications by considering optical, thermal, environmental, weight, chemical, and electrical properties of end use. Plastic fasteners materials meet broad range of design requirements such as sealing, rigidity or flexibility, strength, heat, chemical and corrosion resistance, toughness, electrical properties, and lightweight.

On the basis of application, wire harnessing application segment in the global automotive plastic fasteners is estimated to hold major revenue share and is expected to maintain its dominance over the forecast period. Availability of product in desired size and color is expected to fuel the market growth. Moreover, plastic fasteners are cheaper compared to metal fasteners, which reduces the production cost of vehicles.

On the basis of vehicle type, light commercial vehicles are expected to be fastest growing vehicle type segment in the terms of revenue in global automotive plastic fasteners market over the forecast period. Light commercial vehicles are used for transportation of people, goods, and services. Growing demand for pickup trucks with increased power and load carrying capacity is expected to drive automotive plastic fasteners market owing to their high strength and corrosion resistance properties.

Asia Pacific market is estimated to hold significant revenue share in the global automotive plastic fasteners market and is expected to maintain its dominance over the forecast period. Presence of major automotive manufacturers in the region is expected to fuel market growth over the forecast period. Asia Pacific accounts for largest revenue share contribution to the global automotive plastic fasteners market, followed by markets in Europe, North America, Latin America, and Middle East & Africa respectively. Growing demand for automobiles owing to rising disposable income coupled with government initiatives such as Make in India is anticipated to boost market growth over the forecast period. Growing demand for lightweight materials for automobiles to improve the performance of vehicle is expected to drive market growth over next eight years.      

Market segmentation and key players operating in the global automotive plastic fasteners market:

By vehicle type:

• Passenger vehicles
• Light commercial vehicles

By application:

• Interior
• Exterior
• Chassis
• Wire harnessing
• Powertrain
• Electronics
• Others (Switchgear, Console, and Speaker mounts)

By region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa