Global Building and Construction Plastic Fasteners Market is segmented By Material Type (Nylon, PVC, Polypropylene, Teflon, Others), By Product Type (Cable Ties, Rivets & Push-In Clips, Others), By Function (Bonding/Attaching, Cable Management, Others), By Application (Domestic, Commercial, Industrial), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
Building and Construction Plastic Fasteners Market Overview
232 pages report analyses the Global Building and Construction Plastic Fasteners Market size, shares, recent trends, competitive intelligence, and future market outlook. Building and Construction Plastic Fasteners usage in the construction industry is on the rise. Demand from Commercial, and Industrial in Asia Pacific is spiking. The competitive rivalry intensifies with Nifco Inc, MW Industries, Inc, Bossard Group, and others operating in the market.
Fasteners are the hardware that is used to make non-permanent bonds between two or more objects. Plastic Fasteners are used due to their properties, such as lightweight, electrical insulators and optical properties. Due to these properties, there is an increased demand for the product.
Plastic fasteners are preferred over metals because of their benefits, including strength, chemical and corrosion resistance, toughness, and being modified as per requirements. Moreover, they are lower priced than metal fasteners.
The growth of the construction industry in many countries, especially in the Asia-Pacific region, due to the increasing population, is leading to an increased demand for Plastic Fasteners. These are extensively used in electrical applications as they can resist high electric volts.
Building and Construction Plastic Fasteners Market Scope and Summary
|
Metrics |
Details |
|
Market CAGR |
4.7% |
|
Segments Covered |
By Material Type, By Product Type, By Function, By Application and By Region |
|
Report Insights Covered |
Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other vital insights. |
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Fastest Growing Region |
Asia Pacific |
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Largest Market Share |
North America |
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Building and Construction Plastic Fasteners Market Dynamics and Trends
The demand for plastic fasteners in housing and commercial uses is expected to drive the market
The strong housing market and low interest rates have helped the real estate business. Also, construction is poised to benefit from the resurgence in infrastructure spending. Hence, construction companies are looking to invest in new technology both for the job site and in the back office to take advantage of negative inflation-adjusted interest rates.
Moreover, the government’s policy and the fiscal response have allowed for stability in the property markets, making them better for investors. For instance, as per the RSM report, the construction sector is set to benefit from a $1.3 billion allocation under the Biden infrastructure plan in the US.
Henceforth, growing housing and commercial uses is anticipated to drive the market.
Volatility in raw materials prices and tough competition by its substitutes is expected to hinder the market
Volatility in raw material prices and tough competition in the market is expected to affect the manufacturers' profit margins. The manufacturers are expected to expand their geographical reach to get hold of consumers from niche markets and reduce dependency on third-party suppliers.
Moreover, metal fasteners have dominated the industry due to their high impact resistance and superior strength compared to plastic fasteners. The emergence of other fastening technologies, including tapes, adhesives, and sealants, is likely to impact the demand for the product over the projected period.
Building and Construction Plastic Fasteners Market Segmentation Analysis
Based on materials, building & construction plastic fasteners is segmented into nylon, PVC, polypropylene, Teflon and others.
Nylon is mostly used plastics for manufacturers. As a fastener, it is especially suited for electronics. It offers high tensile strength and higher wear resistance than aluminum. Moreover, nylon fasteners have excellent resistance to some chemicals and hydrocarbons while providing a high amount of insulation. It’s also half the weight of aluminum.
For example, the nylon cable tie is one of the most widely used fasteners. They serve as locking ties for organizing cables and securing tags to items. They come in a variety of lengths, widths and colors.
Global Building and Construction Plastic Fasteners Market Geographical Analysis
The Asia Pacific dominates the building & construction tapes due to increased demand for foam backing material to use in double-sided products, extensively used in various building applications. High volume growth has been noted for PVC backing material because of its properties, such as resistance to heat and dimensional stability, which also contributes to its increased usage in the growing construction industry in this region.
The Chinese government has massive construction plans, including making provisions for the movement of 250 million people to its new megacities during the next ten years. As per the National Bureau of Statistics (NBS), real estate investment in China rose 7.0% in 2020 from a year earlier, accelerating from a 6.8% gain in the first 11 months of the year.
Moreover, the growing demand for building and construction plastic fasteners in Japan can be attributed to the improved economic conditions and the reconstruction of existing facilities owing to the upcoming sporting events in 2020.
Building and Construction Plastic Fasteners Market Companies and Competitive Landscape
The building & construction plastic fasteners market is moderately competitive with presence of local as well as global companies. Some of the key players which are contributing to the growth of the market include Nifco Inc, ATF Inc., Stanley Black & Decker, Inc., MW Industries, Inc., Penn Engineering, Bossard Group., ARaymond, Volt Industrial Plastics, Emkay Industries, KBK Plascon Private Limited., Asia Rubber and Plastic among others. The major players are adopting several growth strategies such as product launches, acquisitions, and collaborations, which are contributing to the growth of the building & construction plastic fasteners market globally.
Nifco Inc.
Overview: Nifco Inc. is a Japanese plastic fasteners manufacturing company headquartered in Tokyo, Japan. The company supplies its products to many industries, including the building & construction and the automotive industry.
Product Portfolio: In plastic fasteners, Nifco Inc. provides two-pieces clip such as pull rivet, push-pull rivet; one-piece clip such as anchor clip, box anchor clip; trip clip, screw grommet and hole plug.
Key Developments:
- In April 2021, the company has renewed its plastic fasteners product catalogue. At the new catalogue, product can be searched and selected by hole size, plate thickness, dimensions and others properties.
The global building & construction plastic fasteners market report would provide an access to an approx. 66 market data table, 59 figures and 232 pages.
Frequently Asked Questions
What is the Building and Construction Plastic Fasteners Market growth?
The market is growing at a CAGR of 4.7%.
What is the Building and Construction Plastic Fasteners Market size in 2021?
The Market size was valued at USD YY million in 2021.
Who are the key players in Building and Construction Plastic Fasteners Market?
Major players are ATF Inc., Stanley Black & Decker, Inc., MW Industries, Inc., Penn Engineering, Bossard Group., ARaymond, Volt Industrial Plastic, Emkay Industries, KBK Plascon Private Limited.
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