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, Fun

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.

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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
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
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

Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances