[FURL=https://www.industryarc.com/Research/Automotive-Plastic-Fasteners-Market-Research-503470?utm_source=briefingwire&utm_medium=Pressrelease&utm_campaign=Paidpressrelease]Automotive Plastic Fasteners Market[/FURL] is forecast to reach $2.25 billion by 2026, after growing at a CAGR of 7.8% during 2021-2026. Owing to the relatively inexpensive, and technological advancement properties, the rising demand for automotive plastic fasteners in applications such as powertrain, chassis, and wire harnessing, is estimated to drive the market growth. Also, the increasing use of polypropylene as a cost-effective material in automotive plastic fasteners, that combines the required chemical, thermal, electrical and mechanical properties in one material will drive the market demand. Moreover, the increasing demand for lightweight materials in the automotive industry due to stringent emission norms and increasing fuel efficiency is projected to bring new opportunities for the growth of the automotive plastic fasteners industry to expand during the predicted period.Key Takeaways
Asia-Pacific region dominated the automotive plastic fasteners market due to the changing industrial sector. Government policies such as Make in India, which brought about rapid expansion in the manufacturing sector of the country, are expected to have a positive effect on the regional development.
The demand for fasteners is currently dominated by metal fasteners. However, the rising ability of the component to substitute metal equivalents in the automotive industry is expected to push manufacturers to engage in the demand for plastic fasteners over the estimated timeframe.
The market is highly dynamic due to the emergence of diverse manufacturers worldwide.
Request for Sample of the Report @ [FURL]https://www.industryarc.com/pdfdownload.php?id=503470[/FURL]
Automotive Plastic Fasteners Market Segment Analysis - Geography
Asia Pacific held the largest share with 42% in automotive plastic fasteners market in 2020. Since the Asia Pacific region is the largest automotive manufacturing area, the plastic fastener industry is globally dominated in this region. China is one of the world's largest manufacturers of cars and is hence a primary buyer of fasteners. Growing demand for automotive in the emerging economies, such as China, India, Japan, and South Korea is anticipated to drive the market in the upcoming years.
Automotive Plastic Fasteners Market Drivers
Rising Demand for Automotive Coupled with Growing Population in Emerging Economies will Drive the Market Growth
Increasing Demand for Plastic Fasteners in Electric Vehicles
Automotive plastic fasteners market are Illinois Tool Works, ATF, Nippon Industrial Fasteners Company (Nifco), Araymond, Avery Dennison Corporation, Stanley Black & Decker, Bossard Group, Shanghai Fasteners Company, M.W. Industries, and SNF Group Penn Engineering among others.
About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.