Published by news degree
Posted on August 6, 2021
6 min readLast updated: February 18, 2026
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The global Automotive Plastic Fasteners market is forecast to reach USD 9.78 Billion by 2027, according to a new report by Reports and Data. Growing substitution of metal fasteners in automotive interiors is anticipated to drive the growth due to improved aesthetic appeal and lightweight qualities. Manufacturing of plastic fasteners is profoundly affected by the high production volumes of vehicles in countries around the world. Increasing demand for high-efficiency vehicles with improved performance has led to market expansion in the automobile industry for lightweight materials. The product is high in durability and excellent corrosion resistance. They are available in different shapes and colors that help automakers preserve the vehicle’s visual appeal.
Owing to lower prices of raw materials and comparatively lower competition in the industry, plastic manufacturers yield better margins than metal fasteners. Also, plastic fasteners are made using injection molding methods that minimize loss of the raw material, thus reducing the overall production costs. The market needs for plastic fasteners in severe circumstances are anticipated to experience substantial development due to their superior properties than ordinary metals. The products are especially valuable in automobiles due to the increasing focus on lightweight vehicles and increased fuel efficiency.
Competition in the industry is projected to be high due to suppliers having low conversion costs from metal to plastic products. However, factors like weak tensile strength of the fasteners are likely to affect the demand of the product in highly stressful conditions.
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The COVID-19 impact:
The distribution of Covid-19’s has influenced manufacturing activities worldwide. Logistic constraints and reconsiderations of the specifications for raw materials are becoming a problem for producers all over the world. Lockdown measures to minimize the spread of the COVID-19 pandemic in many countries had a major effect on the automotive industries; including closed-down automobile manufacturing units. Over the weeks, the market has experienced a downturn which can continue in the coming months. The Asia Pacific region was the most affected by this pandemic, with China at the center of the outbreak. Most initiatives in multiple countries have changed to a temporary halt. Production and supply were put on hold, which caused losses for manufacturers, dealers and consumers.
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 among others.
For the purpose of this report, Reports and Data have segmented into the Automotive Plastic Fasteners market on the basis of function, vehicle type, application, and region:
Function Outlook (Revenue, USD Billion; 2017-2027)
Vehicle Type Outlook (Revenue, USD Billion; 2017-2027)
Application Outlook (Revenue, USD Billion; 2017-2027)
Regional Outlook (Revenue, USD Billion; 2017-2027)
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Further key findings from the report suggest
Key insights presented in the report:
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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.
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The post Automotive Plastic Fasteners Market Size, Demand, Growth Analysis, Share, Revenue and Forecast 2027 first appeared on News Degree | Hub for Latest and Trending News from Around the Globe.
The global Automotive Plastic Fasteners market is forecast to reach USD 9.78 Billion by 2027.
The substitution of metal fasteners with plastic due to lower prices of raw materials and better margins contributes to the growth of plastic fasteners.
Key participants include Illinois Tool Works, Nippon Industrial Fasteners Company, Stanley Black & Decker, and others.
Challenges include high competition due to low conversion costs from metal to plastic products and the weak tensile strength of plastic fasteners.
The market is segmented based on function, vehicle type, application, and region.
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