Fastener Shanghai
fastener
fastenerHomefastener
fastener
fastenerNewsfastener
fastener
fastenerfastenerBuyers' Guidefastener
fastener
fastenerStandard Searchfastener
fastener
fastenerFor Buyersfastener
fastener
fastenerFor Suppliersfastener
fastener
fastenerMagazinefastener
fastener
fastenerTrade Showsfastener
fastener
fastenerMy Officefastener
fastener
fastenerPost Inquiriesfastener
Home->Fastener News->Automotive Plastic Fastener Market Size at $3.67 B...You are the 500225 visitors
Views:1470   |   recommendation:fastener   |   Votes:1   |   Discuss:0
Automotive Plastic Fastener Market Size at $3.67 Billion by 2021

The global automotive plastic fasteners market is expected to reach USD 3.67 billion by 2021, according to a new report by Grand View Research, Inc. Increasing substitution of metal fasteners in automotive interiors owing to improved aesthetics and lightweight characteristics is expected to propel demand.

The plastic fasteners production is highly influenced by high production volumes of automotive vehicles across major economies of the world. The market is highly fragmented and competitive owing to various small-scale manufacturers concentrated in countries including Thailand, China, and Germany. The industry rivalry is expected to be high owing to manufacturers of low switching cost of manufacturers from metal to plastic products.

However, factors including low tensile strength of the fasteners in high stress applications are expected to impact the product demand. Illinois Tool Works Incorporated (ITW), ARaymond and Alcoa, Inc. are the major manufacturers dominating the market. Profit margins of companies vary in the range of 15 to 20% owing to reduced manufacturing costs.

Further key findings from the report suggest:

--The product demand in automotive interior application is expected to grow at a CAGR of 11.8% from 2017 to 2021, owing to their light weight, wide variety, and compatibility with the internal ambience of the vehicle.

--The average price and weight of a plastic fastener is significantly lower than a metal fastener, which lowers the vehicle cost and improves the overall automobile efficiency. As a result, the product demand in passenger cars is expected to reach the revenue of USD 1.96 billion by 2021.

--The demand for plastic fasteners in Europe was valued at USD 461.5 billion in 2016 and is expected to grow at a CAGR of 7.7% from 2017 to 2021. The presence of a large number of automotive companies, including General Motors Company, Ford, Fiat, Toyota Motor Corporation, and AM General in the region is expected propel growth.

--Japan & South Korea have been a major market for the product accounting about 25% of the overall fasteners demand in Asia Pacific.

Source: Grand View Research, Inc.

2017/9/29 16:41:00

Previous:    Booming demand causes steel price surge
        Next:    Taiwan Fastener Exports Increase 2.65% in the first eight months

Recent Related News
Taiwan's Fastener Exports Set Record High in H1--2018-09-11
US July Fastener Distributor Index Surges Further, But Indicates Looming Slowdown--2018-08-15
May Fastener Distributor Index Declines Further; 4th Straight Dip--2018-06-12
Report: Hardware Suppliers Prioritize Speed, But Struggle To Achieve It--2018-06-08
April's Fastener Distributor Index Posts Third-Straight Decline--2018-05-08
Shanghai Prime Machinery to sell bearings business to parent--2018-03-13
China Fastener Imports and Exports Both Increase--2018-02-12
January Fastener Distributor Index Posts Strong Gain--2018-02-08
Taiwan Fastener Exports Hit Record High--2018-02-01
Fastener Distributor Index Posts Modest December Increase--2018-01-11
Threaded Fasteners Inc. Expands Again in Florida Market with Addition of Tampa-based Bolt & Nut Inc.--2018-01-09
Japanese Fasteners Tackling Electroplating Plants Decrease--2017-12-25

Vote for this news?

fastener(Very Good)
fastener(Good)
fastener(Normal)
fastener(Bad)
fastener(Very Bad)


Discuss
More Discuss...
Your Name: Anonymous

Enter the code shown:fastener1fastener

Fastener Trade Show Suzhou


China Fastener Directory
Get it FREE!
fastener
Get your CFD at the following shows:

•M-Tech Osaka, Oct 3-5, 2018, Osaka, Japan

•METALEX Vietnam, Oct 11-13, 2018, Ho Chi Minh City, Vietnam

•Indometal, Oct 17-19, 2018, Jakarta, Indonesia



Show Room



Offer Product

Latest News
• China Trade Surplus With U.S. Widens to Record $34.1B

• U.S. Cutting Tool Consumption up 13.9 Percent in August

Buyers' Guide
Company News

• Dongtai Huawei to Attend Korea 2017 Metal Week, Booth No. 8a103, Welcome to Visit Us!

• Dongguan STL: Practice Brand Concept By Setting up Fatigue Test Center

The Way to Enter Chinese Market
The Way to Enter Chinese Market


fastener