Market insights and regional analyzes for automotive plastic closures in research reports

Reports and data

The global automotive automotive fasteners market is forecast to grow 15.3% from $ 3.32 billion in 2019 to $ 9.78 billion in 2027

NEW YORK, NY, UNITED STATES, Oct 16, 2021 /EINPresswire.com/ – The global automotive plastic fasteners market is projected to reach $ 9.78 billion by 2027, according to a new report from Reports and Data. The increasing substitution of metal fasteners in vehicle interiors is expected to drive growth due to improved aesthetics and lighter grades. The manufacture of plastic fasteners is greatly influenced by the high production volumes of vehicles in countries around the world. The increasing demand for highly efficient vehicles with improved performance has led to a market expansion in the automotive industry for lightweight materials. The product is characterized by high durability and excellent corrosion resistance. They are available in various shapes and colors that help automakers maintain the vehicle’s visual appeal.

Due to lower raw material prices and the comparatively lower competition in the industry, plastics manufacturers achieve better margins than fasteners made of metal. In addition, plastic fasteners are manufactured using injection molding processes that minimize the loss of raw material, thus reducing overall production costs. It is expected that the market demand for plastic fasteners will develop significantly in difficult circumstances due to their superior properties over common metals. Due to the increasing focus on lightweight vehicles and increased fuel efficiency, the products in the automobile are particularly valuable.

Get a Sample of Report @ https://www.reportsanddata.com/sample-enquiry-form/3253

Key participants include Illinois Tool Works, Nippon Industrial Fasteners Company (Nifco), ATF, Stanley Black & Decker, Araymond, Avery Dennison Corporation, Bossard Group, Shanghai Fasteners Company, MW Industries and SNF Group Penn Engineering.

For the purposes of this report, reports and data have been segmented on the basis of feature, vehicle type, application, and region in the Automotive Plastic Fasteners Market:

Feature Outlook (Revenue, $ Billion; 2017-2027)

link
NVH

Vehicle Type Outlook (Revenue, Billion USD; 2017-2027)

Passenger cars
Light commercial vehicles

Application Outlook (Revenue, $ Billion; 2017-2027)

Intern
Outside
electronics
Powertrain
chassis
Cable assembly
Other

Regional Outlook (Revenue, Billion USD; 2017-2027)

North America
US
Europe
United Kingdom
France
Asia Pacific
China
India
Japan
MY
Latin America
Brazil

Other key findings from the report suggest that

North America accounted for 19.08% of sales in 2019 and is expected to grow to 1.86 billion US dollars in 2027. This may be due to the increasing focus on reducing weight and increasing fuel efficiency, as well as the presence of major manufacturers in the region.
APAC is expected to escalate with an expected CAGR of 5%, the market in developing countries like China and India is growing due to the changing industrial sector. Government initiatives such as Make in India, which resulted in rapid expansion of the country’s manufacturing sector, will have a positive impact on regional growth.
Due to their light weight, wide range and match with the appearance of the vehicle interior, product demand in automotive application is expected to increase by 16.1% CAGR from 2019 to 2027. Growing product demand is also expected to increase growth due to their ability to withstand water and dust in the interior of automobiles.
The average cost and weight of the plastic fastener is significantly lower than a metal fastener, which lowers the vehicle price and increases system efficiency. The market for the product in passenger cars is estimated at 7.32 billion US dollars in sales by 2027.

The effects of COVID-19:

The spread of Covid-19 has affected manufacturing activities around the world. Logistical constraints and revisions to raw material specifications are becoming a problem for producers around the world. Lockdown measures to minimize the spread of the COVID-19 pandemic in many countries had a major impact on the automotive industry; including closed automobile plants. Over the weeks, the market has seen a downturn that may continue into the coming months. The Asia-Pacific region has been hardest hit by this pandemic, with China at the center of the outbreak. Most of the initiatives in several countries have been temporarily suspended. Production and delivery ceased, causing losses for manufacturers, dealers and consumers.

Reasons to Buy This Report

This report provides a pinpoint analysis for changing competitive dynamics
It offers a forward-looking perspective on various factors that drive or inhibit market growth
It offers a six year forecast that is valued based on projected market growth
It helps in understanding the key product segments and their future
It offers a precise analysis of the changing competitive dynamics and keeps you ahead of your competitors
It helps in making informed business decisions by getting complete insights into the market and by analyzing the market segments in depth

Buy now @ https://www.reportsanddata.com/checkout-form/3253

Table of contents:

Chapter 1. Market overview
1.1. Market definition
1.2. Research scope and premise
1.3. methodology
1.4. Market estimation technique
Chapter 2. Summary
2.1. Summary snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Plastic Automotive Fasteners Market Segmentation and Impact Analysis
4.1. Analysis of the Plastic Fasteners for Motor Vehicles Market Function Segmentation
4.2. Industrial outlook
4.2.1. Analysis of the market indicators
4.2.2. Analysis of the market drivers
4.2.2.1. Growing demand for lightweight vehicles
4.2.2.2. Technological innovations
4.2.2.3. Government investment in power generation
4.2.3. Analysis of the market restrictions
4.2.3.1. Low tensile strength
4.3. Technological insights
4.4. Legal framework……

To identify the key trends in the industry, click on the following link: https://www.reportsanddata.com/report-detail/automotive-plastic-fasteners-market

Similar research reports of reports and data from the automotive industry

Automotive Central Control Units Market @ https://www.reportsanddata.com/report-detail/automotive-central-control-units-market

Mobile construction cranes Market @ https://www.reportsanddata.com/report-detail/construction-mobile-cranes-market

Bicycle tire Market @ https://www.reportsanddata.com/report-detail/bicycle-tire-market

Automotive window and exterior sealing systems Market @ https://www.reportsanddata.com/report-detail/automotive-window-and-exterior-sealing-systems-market

Electric vehicle platform @ https://www.reportsanddata.com/report-detail/electric-vehicle-platform-market

About us:

Reports and Data is a market research and advisory firm that provides syndicated research reports, bespoke research reports, and advisory services. Our solutions focus solely on your purpose of locating, addressing, and analyzing changes in consumer behavior across demographics and industries, and helping customers make smarter business decisions. We offer market research studies that ensure relevant and fact-based research across a wide range of industries including healthcare, technology, chemistry, energy, and energy. We constantly update our research offerings to ensure that our customers are informed about the latest trends in the market. Reports and Data has a strong base of experienced analysts from various specialist areas.

Contact us:

Tushar Rajput
Reports and data
+ 12127101370
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn

You just read:

News provided by

October 16, 2021 at 3:13 p.m. GMT


EIN Presswire’s priority is source transparency. We don’t allow opaque clients, and our editors try to carefully weed out false and misleading content. If, as a user, you notice something that we have overlooked, please make us aware of it. Your help is welcome. ONE Presswire, Everyone’s Internet News Presswire ™, seeks to define some of the boundaries that are appropriate in the world today. Please see our editorial guidelines for more information.

Submit your press release

Comments are closed.