The plastic fasteners market is estimated at USD 4.45 Billion in 2017 and is projected to reach USD 6.04 Billion by 2022, at a CAGR of 6.3% from 2017 to 2022. Increasing demand from the automotive sector in Asia Pacific, growth of the Asian and North American construction industry, and high demand for electric vehicles globally are expected to drive the plastic fasteners market.
Illinois Tool Works (US), ARaymond (France), Nifco (Japan), and Stanley Black & Decker (US) are recognized as the visionary leaders in the plastic fasteners market. These companies are focused on investing in plant capacity expansions. They also have the potential to broaden their product portfolios and compete with other key market players.
Illinois Tool Works (ITW) is a global company with seven industry-leading business segments. It has 200 geographically diversified multi-industrial manufacturing units that produce various value-added consumables and specialty equipment. It company offers value-added products for use in a variety of industries. The company operates through joint ventures and its subsidiaries in 56 countries in six continents. It offers innovative engineered fastening systems and solutions through its construction products business segment.
In June 2016, Illinois Tool Works acquired engineered fasteners and components business of ZF TRW for USD 450.0 million. This acquisition resulted in the complementary addition of the products of the engineered fasteners and components business of ZF TRW to the existing portfolio of Illinois Tool Works.
ARaymond develops, manufactures, and markets fastening and assembling solutions. The company is one of the leaders in the automotive market. It offers products to various other industries such as automotive, energy, agriculture, and life sciences, among others. The company has 26 production sites across the globe.
In November 2015, ARaymond signed an agreement with SD Products for the distribution of its fastening solutions in the UK. This agreement led to the extension of the distribution network of the company in the European region. In July 2015, ARaymond expanded its manufacturing operations and supply of a variety of assembly solutions and metal & plastic fasteners for car engines and interiors in South Korea. This expansion aimed at catering the increased demand for fasteners from South Korea. In April 2015, ARaymond opened its largest production facility in Germany with an investment of USD 59.0 million. This production facility manufactures fasteners and fixing solutions. In October 2013, ARaymond invested USD 7.0 million for establishing its first manufacturing facility in Chakan (India). This site manufactures fasteners, which are used mainly in the automotive industry.
Plastic Fasteners Market by Product Type (Rivets & Push-In Clips, Cable Clips & Ties, Threaded Fasteners, Washers & Spacers), End User (Automotive, Electrical & Electronics, Building & Construction, Supermarkets), and Region - Global Forecast to 2022
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