In 2021 the global automotive plastic fasteners market will reach $3 billion 670 million
According to the Research Report of Grand View Research, the global automotive plastic fasteners market size in 2021 reached 3 billion 670 million US dollars. The aesthetic body and lightweight lead car special metal fasteners replacement increased, which is expected to push the car with plastic fasteners.Plastic fasteners production by the world's major economies under high yield. The car in Thailand, Germany Chinese, various small manufacturers make the market highly differentiated and the fierce competition. This competition may be the manufacturer from the metal fastener transformation to plastic fasteners with low cost, but high stress under the environment of low tension fasteners and other factors may demand will impact plastic fastener products.ITW, ARaymond, and Alcoa are the leading companies in the market. Because of the lower manufacturing costs, the gross margins of these companies will fall between 15% and 20%The focus of the survey report also includes:Due to the lighter weight, more styles and compatible with the environment inside the car, the demand for cars will grow at a CAGR of 11.8% from 2017 to 2021The average price of plastic fasteners is far lower than the metal fasteners, which will reduce the cost of vehicle efficiency and increase the automobile industry. So in 2021, passenger car product demand is expected to reach $1 billion 960 million in sales.In 2016 the European plastic fasteners demand fell 4 billion 615 million dollars, is expected in 2017 to 2021 years at a CAGR of 7.7% growth. GM, Ford, Fiat, TOYOTA and AM General car factory is expected to promote the growth of this market.Japan and South Korea are the main markets of this product, accounting for 25%. of the total fasteners demand in the Asia Pacific Region
