Europe Plastic Fasteners Market by Product Type (Rivets & Push-in Clips, Cable Clips & Ties, Threaded Fasteners, and Others), End-use Industry (Automotive, Electrical & Electronics, Building & Construction, and Retail), and Europe Forecast to 2028

The Europe plastic fasteners market is expected to value at around US$ 1 Bn in 2019, and is expected to register a CAGR of 5.8%. The report offers in-depth insights, revenue details, and other vital information regarding the Europe plastic fasteners market and the various trends, drivers, restraints, opportunities, and threats in the target market till 2028. The report also offers insightful and detailed information regarding the various key players operating in the Europe plastic fasteners market, and their financials, apart from strategies, acquisitions & mergers, and market footprint. The Europe plastic fasteners market is segmented on the basis of product type, end-use industry, and region.

Plastic fasteners are widely used in industrial manufacturing and automotive industries owing to its properties such as light weight, chemical resistant, durability, and other. These are used to manufacture plastic parts such as nuts, screws & bolts, threaded rods, washers, screw insulators & spacers and others.

Europe Plastic Fasteners Market Dynamics:

Rising demand for plastic fasteners with properties such as corrosion resistance, light weight, and durability is a major factor driving growth of the Europe plastic fasteners market to a significant extent currently. Increasing adoption of plastic fasteners in the electrical & electronics industry for connecting plastic parts and insulating materials, and hole plugs, owing to its superior electrical & thermal insulation properties is another factor expected to support growth of the Europe plastic fasteners market to a significant extent over the forecast period.

Growing demand for automobiles, rapid urbanization, coupled with rising per capita income of the individuals, and changing lifestyle of consumers are factors expected to boost production rate of automobiles, and in turn drive growth of the Europe plastic fasteners market over the forecast period. Well-developed automotive sector and increasing R&D activities by prominent players for development of innovative materials to lower the overall weight of vehicles are among some of the other factors expected to support growth of the market.

Additionally, growing product optimization for different applications, and low price of plastic fasteners as compared to metal fasteners are expected to increase adoption of these products across various applications. Increasing re-construction activities, in both residential and commercial sectors in developed countries, and rising Foreign Direct Investment (FDI) in developing countries is leading to increasing construction activities and is expected to drive demand for plastic fasteners and support market growth.

However, stringent regulations and statutes regarding carbon emission has introduced various emission test procedures which has a negative impact on the demand for passenger cars. This is a major factor expected to hamper growth of the Europe plastic fasteners market over the forecast period. In addition, low impact resistance property offered by these products limits it to light- and medium-duty applications. High competition and fluctuation in raw material prices are other factors restraining growth of the target market to certain extent.

Increasing focus of automotive manufacturers on introducing electric and hybrid vehicles owing to growing demand for electric vehicles is a factor creating lucrative opportunities for plastic fasteners manufacturers. The emergence of new players in the electric vehicles market can further expand customer base and create revenue opportunities for players in the target market. Shifting manufacturing trends towards producing innovative products such as specialty, miniature, and hybrid fasteners is an ongoing trend observed in the target market.

Market analysis by product type:

On the basis of product type segmentation, the threaded fasteners segment is estimated to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. The rivets & push-in clips segment is projected to register highest CAGR of over 6.0%.

Market analysis by end-use industry:

On the basis of end-use industry segmentation, the automotive segment is estimated to account for highest share in terms of revenue and is expected to maintain its dominance over the forecast period. The automotive segment is projected to register highest CAGR of over 5.8%.

Analysis by Countries:

The market in Rest of Europe accounted for major revenue share of over 34.2% in the Europe plastic fasteners market in 2019. Increasing adoption of plastic fasteners in motor vehicles, machinery, and other durable goods production is a factor driving growth of the Europe plastic fasteners market. Increasing government funding for production of electric and hybrid vehicles in countries such as Germany, France, and the UK is another factor expected to proliferate growth of the plastic fasteners market in the Europe. In addition, focus by major manufacturers for new product launches and acquisitions with other players in order to strengthen their product portfolio and enhance geographic presence are among other factors supporting growth of the target market.

Europe Plastic Fasteners Market segmentation:

Segmentation on the basis of product type:

• Rivets & Push-in Clips
• Cable Clips & Ties
• Threaded Fasteners
• Washers & Spacers
• Others (Grommets & Bushings and Wall Plugs)

Segmentation on the basis of end-use industry:

• Automotive
• Electrical & Electronics
• Building & Construction
• Retail

Segmentation on the basis of countries:

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