The global Building and Construction Plastic Fasteners market is forecast to reach USD 557.6 Million by 2027, according to a new report by Reports and Data. Major manufacturers of the market are making high investments in the product’s innovations to developed Plastic Fasteners with corrosion resistance and superior strength properties. Increasing demand is also being witnessed by many end-use industries. These factors are fostering market growth.
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A high growth rate of the construction industry, especially in the developing countries, where there is growing industrialization and urbanization due to increasing disposable incomes, is leading to an increased demand for Building and Construction Plastic Fasteners. Several players present in the industry offer a broad product portfolio, with options of customizing application-based products. This is expected to drive the demand for the market in the forecast period.
Fluctuations in raw material prices can hamper the market demand, as many small and medium players, may hesitate to venture into a market with price volatility. There is high competition among existing players in the market. This can affect their profit margins. Also, there is a rising prevalence for substitutes of the product, such as adhesives and tapes. These factors can lead to reduced demand for the product.
Further key findings from the report suggest
- Rivets are forecasted to grow at a CAGR of 4.9% in the forecast period. Rivets find applications in areas where there is a difficulty encountered in accessing the real side of structures, such as ceilings and walls. These are also used in hanger straps, wind guards, and window blinds. These offer benefits, such as low cost and easy installation, driving the demand for them.
- Attaching/Bonding Function occupied 35.7% of the market share in 2019. This is due to the increasing use of plastic fasteners in bonding and attaching applications of wooden products. Plastic Grommets are the primary product used in this segment.
- The industrial segment occupied the lowest market share of 23.3% in 2019, in terms of End-Use. This is primarily because of the low strength offered by the product. Also, the product is not resistant to heat, due to which it can melt in areas of high temperatures, such as chemical industries.
- The Middle East and Africa occupied 4.5% of the market share in 2019. Increasing growth in the region’s tourism sector leads to an increase in construction activities in the region. The Saudi Arabian government recently introduced the White Land Tax initiative to address the housing shortage problem. These factors are driving market growth in the region.
- China is one of the largest consumers of Building and Construction Plastic Fasteners. This is due to the high number of construction activities in the country. China is forecasted to grow at a high CAGR in the forecast period.
Top players profiled in the report include:
Shanghai Fasteners Company, Araymond, Avery Dennison Corporation, Bossard, Penn Engineering, MW Industries, Stanley Black & Decker, ATF, Nippon Industrial Fasteners Company (Nifco), and Illinois Tool Works Incorporated (ITW), among others.
Product Outlook (Revenue, USD Million; 2017-2027)
- Cable Ties
- Clips
- Rivets
- Grommets
Function Outlook (Revenue, USD Million; 2017-2027)
- Attaching/Bonding
- Cable Management
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Geographic Segment Covered in the Report:
The Building and Construction Plastic Fasteners report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities. This chapter of the report mentions the market share and growth rate of each region, country, and sub-region during the estimated period.
- North America (USA and Canada)
- Europe (UK, Germany, France and the rest of Europe)
- Asia Pacific (China, Japan, India, and the rest of the Asia Pacific region)
- Latin America (Brazil, Mexico, and the rest of Latin America)
- Middle East and Africa (GCC and rest of the Middle East and Africa)
Summary of the Building and Construction Plastic Fasteners Market Research Report:
- Insightful information regarding the global Building and Construction Plastic Fasteners market
- Strategic recommendations for the investment opportunities
- The report covers significant statistics related to the industry along with products, applications, price analysis, demand & supply, and production and consumptions rate
- Emerging trends and current market segment analysis to help investors formulate new business strategies
- Thorough SWOT analysis and Porter’s Five Forces analysis along with feasibility analysis and investment return analysis
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