Automotive Plastic Fasteners Market
Automotive Plastic Fasteners Market Forecasts to 2030 - Global Analysis By Product (Threaded and Non-Threaded), Vehicle Type (Passenger Car (PC), Light Commercial Vehicle (LCV) and Heavy Commercial Vehicle (HCV)), Electric Vehicle Type, Material Type, Function, Application and by Geography
According to Stratistics MRC, the Global Automotive Plastic Fasteners Market is accounted for $4.84 billion in 2024 and is expected to reach $7.68 billion by 2030 growing at a CAGR of 8.0% during the forecast period. Automotive plastic fasteners, which offer a lightweight, affordable substitute for conventional metal fasteners, are crucial parts of the construction and design of contemporary automobiles. These fasteners are used to firmly hold the vehicle's trim, bumpers, electrical components, and interior panels together. Automotive plastic fasteners, which are made of high-performance, long-lasting plastics like ABS, nylon, and polypropylene, have a number of benefits, such as resistance to corrosion, decreased weight, and the capacity to absorb impact and vibration.
According to the Environmental Protection Agency (EPA), the Safe Drinking Water Act mandates that public water systems perform regular microbiological testing for contaminants such as coliform bacteria, as part of efforts to protect over 300 million Americans who rely on public drinking water systems.
Market Dynamics:
Driver:
Increasing interest in electric cars (EVs)
The market for automotive plastic fasteners is significantly influenced by the move to electric and hybrid vehicles. Lightweight parts are necessary for EVs in order to increase driving range and battery efficiency. Battery housings, interior parts, and lightweight structural elements are just a few of the EV applications where plastic fasteners are perfect. Moreover, the need for creative fastening solutions that support these cutting-edge technologies is growing along with the global market for electric vehicles.
Restraint:
Competition from metal fasteners
Metal fasteners continue to dominate many applications because of their proven performance and dependability, even though plastic fasteners are becoming more and more popular. A major obstacle for producers of plastic fasteners is the automotive industry's ingrained reliance on metal components. Additionally, it is necessary to show not only cost savings but also comparable or better performance qualities in order to persuade manufacturers to move to plastic alternatives.
Opportunity:
Emphasis on emissions reduction and fuel efficiency
Automobile manufacturers are under pressure to create lighter and more fuel-efficient vehicles as a result of governments around the world enforcing stricter regulations aimed at reducing carbon emissions. Weight reduction is crucial for increasing fuel efficiency, and plastic fasteners play a major role in this process. Furthermore, as manufacturers look for solutions that help them meet strict fuel efficiency standards while maintaining performance; this regulatory environment fosters the adoption of plastic fasteners.
Threat:
Limited ability to support loads
The intrinsic limitation of plastic materials load-bearing capacity in comparison to metal fasteners is one of the main threats facing the automotive plastic fasteners market. Plastic fasteners might not offer the required strength and durability in high-stress applications, like those found in powertrains and structural elements. Manufacturers may choose conventional metal fasteners over plastic substitutes as a result of this restriction, which may raise questions regarding performance and dependability. Additionally, in industries where high strength is essential, the market might find it difficult to acquire traction.
Covid-19 Impact:
Significant disruptions have been caused throughout the automotive industry as a result of COVID-19's impact on the market for automotive plastic fasteners. Government restrictions and lockdowns led to the temporary closure of manufacturing plants, which significantly decreased vehicle production and, in turn, the demand for automotive parts, such as plastic fasteners. Due to the supply chain's severe disruption caused by major automakers operating at reduced capacity, there were delays and shortages of necessary materials. However, the demand has gradually increased again, though, as industries have started to adjust to the ""new normal,"" especially for affordable and lightweight solutions that complement the increased focus on fuel economy and emission control.
The Passenger Car (PC) s segment is expected to be the largest during the forecast period
The growing demand for lightweight and fuel-efficient vehicles has led to the passenger car (PC) segment holding the largest share in the automotive plastic fastener market. Automotive manufacturers are using plastic fasteners to reduce vehicle weight, which is essential for improving fuel economy and satisfying strict emission regulations, as consumers place a higher value on performance and efficiency. Moreover, developments in plastic materials that provides increased resistance and durability, making them appropriate for a range of passenger car applications such as body panels, electronic components, and interior trims, further support the segment's growth.
The Plastic segment is expected to have the highest CAGR during the forecast period
In the automotive plastic fasteners market, the plastic segment is anticipated to grow at the highest CAGR. Since plastic fasteners are significantly lighter than traditional metal fasteners, the demand for them is being driven by the growing emphasis on lightweight materials in the automotive manufacturing industry. With the popularity of electric vehicles (EVs), which demand parts that improve battery efficiency and overall vehicle performance, this change, is especially noticeable. Furthermore, improvements in plastic materials have increased their resilience to environmental influences and durability, which makes them appropriate for a greater variety of uses, such as exterior body panels, electronic components, and interior trims.
Region with largest share:
The market for automotive plastic fasteners is dominated by the Asia-Pacific region. The main reason for this dominance is the quick development of the automotive manufacturing industry in nations like China, Japan, and India, which rank among the biggest automakers in the world. Due to the region's strong industrialization and government programs like Make in India, local manufacturing capacities have been further strengthened, which has raised demand for plastic fasteners and other automotive components. Moreover, this region's growing EV production highlights the need for lightweight materials that improve overall vehicle performance and battery efficiency.
Region with highest CAGR:
The automotive plastic fasteners market is expected to grow at the highest CAGR in the North America region due to the growing demand for electric vehicles (EVs) and the growing emphasis on lightweight materials. Because of the United States emphasis on improving fuel economy and cutting emissions, manufacturers are looking for alternatives to conventional metal fasteners. Technological developments in plastic materials, which provide increased strength and durability and make plastic fasteners appropriate for a range of automotive applications, further support this change. Additionally, since EVs mainly depend on lightweight components to maximize efficiency and range, the growing trend of vehicle electrification in North America is increasing demand for these parts.
Key players in the market
Some of the key players in Automotive Plastic Fasteners market include DuPont, Bossard Group, Illinois Tool Works Inc., ARaymond Fasteners, SABIC, Nippon Industrial Fasteners Company, Essentra Components, PennEngineering Inc, Avery Dennison Corporation, Westfield Fasteners Limited, MW Industries, Inc., SFS Group AG, Stanley Black & Decker, Inc., Phillips Screw Company and Nifco Inc.
Key Developments:
In October 2024, DuPont and Zhen Ding Technology Group announced they have entered into a strategic cooperation agreement in advanced printed circuit board (PCBs) technology. Through this strategic partnership, DuPont and Zhen Ding will work to enhance end-user applications, advance cutting-edge research and development, improve material performance, and promote the sustainable development of the electronics sector.
In October 2024, The Bossard Group announced that it has signed an agreement to acquire Ferdinand Gross Group. With the contemplated acquisition of the Ferdinand Gross Group, which expects net sales of around EUR 80 million for the current financial year, Bossard will further expand its already strong market presence in Germany and Eastern Europe.
In August 2024, SABIC has signed a potential investment agreement with the Fujian government, under the auspices of the Saudi Ministry of Energy, to build an engineering thermoplastics compounding plant in China’s Fujian Province.
Products Covered:
• Threaded
• Non-Threaded
Vehicle Types Covered:
• Passenger Car (PC)
• Light Commercial Vehicle (LCV)
• Heavy Commercial Vehicle (HCV)
Electric Vehicle Types Covered:
• Battery Electric Vehicle (BEV)
• Hybrid Electric Vehicle (HEV)
• Plug-in Hybrid Electric Vehicle (PHEV)
Material Types Covered:
• Stainless Steel
• Iron
• Bronze
• Nickel
• Aluminum
• Brass
• Plastic
Functions Covered:
• Bonding
• NVH (Noise, Vibration, and Harshness)
Applications Covered:
• Engine
• Chassis
• Transmission
• Steering
• Front/Rear Axle
• Interior Trim
• Wire Harnessing
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Product Analysis
3.7 Application Analysis
3.8 Emerging Markets
3.9 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Automotive Plastic Fasteners Market, By Product
5.1 Introduction
5.2 Threaded
5.3 Non-Threaded
6 Global Automotive Plastic Fasteners Market, By Vehicle Type
6.1 Introduction
6.2 Passenger Car (PC)
6.3 Light Commercial Vehicle (LCV)
6.4 Heavy Commercial Vehicle (HCV)
7 Global Automotive Plastic Fasteners Market, By Electric Vehicle Type
7.1 Introduction
7.2 Battery Electric Vehicle (BEV)
7.3 Hybrid Electric Vehicle (HEV)
7.4 Plug-in Hybrid Electric Vehicle (PHEV)
8 Global Automotive Plastic Fasteners Market, By Material Type
8.1 Introduction
8.2 Stainless Steel
8.3 Iron
8.4 Bronze
8.5 Nickel
8.6 Aluminum
8.7 Brass
8.8 Plastic
9 Global Automotive Plastic Fasteners Market, By Function
9.1 Introduction
9.2 Bonding
9.3 NVH (Noise, Vibration, and Harshness)
10 Global Automotive Plastic Fasteners Market, By Application
10.1 Introduction
10.2 Engine
10.3 Chassis
10.4 Transmission
10.5 Steering
10.6 Front/Rear Axle
10.7 Interior Trim
10.8 Wire Harnessing
10.9 Other Applications
11 Global Automotive Plastic Fasteners Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 DuPont
13.2 Bossard Group
13.3 Illinois Tool Works Inc.
13.4 ARaymond Fasteners
13.5 SABIC
13.6 Nippon Industrial Fasteners Company
13.7 Essentra Components
13.8 PennEngineering Inc
13.9 Avery Dennison Corporation
13.10 Westfield Fasteners Limited
13.11 MW Industries, Inc.
13.12 SFS Group AG
13.13 Stanley Black & Decker, Inc.
13.14 Phillips Screw Company
13.15 Nifco Inc.
List of Tables
1 Global Automotive Plastic Fasteners Market Outlook, By Region (2022-2030) ($MN)
2 Global Automotive Plastic Fasteners Market Outlook, By Product (2022-2030) ($MN)
3 Global Automotive Plastic Fasteners Market Outlook, By Threaded (2022-2030) ($MN)
4 Global Automotive Plastic Fasteners Market Outlook, By Non-Threaded (2022-2030) ($MN)
5 Global Automotive Plastic Fasteners Market Outlook, By Vehicle Type (2022-2030) ($MN)
6 Global Automotive Plastic Fasteners Market Outlook, By Passenger Car (PC) (2022-2030) ($MN)
7 Global Automotive Plastic Fasteners Market Outlook, By Light Commercial Vehicle (LCV) (2022-2030) ($MN)
8 Global Automotive Plastic Fasteners Market Outlook, By Heavy Commercial Vehicle (HCV) (2022-2030) ($MN)
9 Global Automotive Plastic Fasteners Market Outlook, By Electric Vehicle Type (2022-2030) ($MN)
10 Global Automotive Plastic Fasteners Market Outlook, By Battery Electric Vehicle (BEV) (2022-2030) ($MN)
11 Global Automotive Plastic Fasteners Market Outlook, By Hybrid Electric Vehicle (HEV) (2022-2030) ($MN)
12 Global Automotive Plastic Fasteners Market Outlook, By Plug-in Hybrid Electric Vehicle (PHEV) (2022-2030) ($MN)
13 Global Automotive Plastic Fasteners Market Outlook, By Material Type (2022-2030) ($MN)
14 Global Automotive Plastic Fasteners Market Outlook, By Stainless Steel (2022-2030) ($MN)
15 Global Automotive Plastic Fasteners Market Outlook, By Iron (2022-2030) ($MN)
16 Global Automotive Plastic Fasteners Market Outlook, By Bronze (2022-2030) ($MN)
17 Global Automotive Plastic Fasteners Market Outlook, By Nickel (2022-2030) ($MN)
18 Global Automotive Plastic Fasteners Market Outlook, By Aluminum (2022-2030) ($MN)
19 Global Automotive Plastic Fasteners Market Outlook, By Brass (2022-2030) ($MN)
20 Global Automotive Plastic Fasteners Market Outlook, By Plastic (2022-2030) ($MN)
21 Global Automotive Plastic Fasteners Market Outlook, By Function (2022-2030) ($MN)
22 Global Automotive Plastic Fasteners Market Outlook, By Bonding (2022-2030) ($MN)
23 Global Automotive Plastic Fasteners Market Outlook, By NVH (Noise, Vibration, and Harshness) (2022-2030) ($MN)
24 Global Automotive Plastic Fasteners Market Outlook, By Application (2022-2030) ($MN)
25 Global Automotive Plastic Fasteners Market Outlook, By Engine (2022-2030) ($MN)
26 Global Automotive Plastic Fasteners Market Outlook, By Chassis (2022-2030) ($MN)
27 Global Automotive Plastic Fasteners Market Outlook, By Transmission (2022-2030) ($MN)
28 Global Automotive Plastic Fasteners Market Outlook, By Steering (2022-2030) ($MN)
29 Global Automotive Plastic Fasteners Market Outlook, By Front/Rear Axle (2022-2030) ($MN)
30 Global Automotive Plastic Fasteners Market Outlook, By Interior Trim (2022-2030) ($MN)
31 Global Automotive Plastic Fasteners Market Outlook, By Wire Harnessing (2022-2030) ($MN)
32 Global Automotive Plastic Fasteners Market Outlook, By Other Applications (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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