Plastic fasteners are plastic parts used to join or fix two or
more objects together. Plastic screws, bolts, nuts, washers, threaded rods, and
balls are a few examples of plastic fasteners. Plastic fasteners are
manufactured employing two processes: plastic molding and machining. These
fasteners are manufactured from different plastics such as nylon, polyethylene,
acetal, polycarbonate, PVC, polypropylene, and ABS. Each type of plastic offers
certain advantages over the other. For instance, polypropylene is a cost
effective material that combines the required thermal, chemical, electrical,
and mechanical properties in one material, which is not found in other
material. ABS provides ease of machining to close tolerances and can be easily
molded. Plastic fasteners provide numerous advantages over their metal
counterparts. These fasteners are a preferred choice in application areas
requiring a combination of environmental, thermal, optical, chemical, and
electrical properties. Moreover, they provide lightweight and inexpensive
substitute to their metal counterparts. Fasteners made from nylon are cost
effective and are half the weight of aluminum fasteners. These advantages have
increased the adoption of plastic fasteners in applications such as automotive,
marine, space, and oil & gas. However, different types of plastics have
their shortcomings. For example, nylon is the most used material for plastic
fasteners; however, its lack of reliability and durability inhibits its use in
applications such as mining, railroads, and building & construction, which
require high strength and resilience. Thus, there exists a need for
substitutes in order to overcome the limitations offered by different plastic
materials used for plastic fastener manufacturing. This in turn is offers high
chances of internal substitution in the plastic
fasteners market.
Based on
product type, the plastic fasteners market can be bifurcated into threaded and
non-threaded plastic fasteners. Bolts, screws, rods, studs, and nuts are
examples of threaded plastic fasteners while rivets, washers, pin fasteners,
quick-operating fasteners, retaining rings, inserts, and spacers are examples
of non-threaded plastic fasteners. Currently, the market is dominated by
threaded plastic fasteners, and the segment is anticipated to expand at a
considerable pace during the forecast period.
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In terms
of material used, the plastic fasteners market can be segmented into, nylon,
polyethylene, acetal, polycarbonate, PVC, polypropylene, ABS, and others.
Others segment includes materials such as isoplast, polycarbonate, PVDF etc.
Presently, nylon dominates the plastic fasteners market. Nylon, as a
material for plastic fasteners, provides good insulating properties and high
resistance against corrosion as compared to other plastic material substitutes.
Additionally, it weighs half as much as aluminum, making it a preferred choice
for several end-users industries. Therefore, the market for nylon is
anticipated to expand at a significant pace in the forecast period.
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In terms
of geography, the global plastic fasteners market is dominated by Asia Pacific
due to rapid expansion of the plastic industry and its end-user industries.
Countries such as China and India are among the major contributors in terms of
consumption to the plastic fasteners market in Asia Pacific. Rapid urbanization
and industrialization in China and India are anticipated to fuel the demand for
plastic fasteners in end-user industries such as automotive and electronics.
These industries are anticipated to expand at a rapidly during the forecast
period. This in turn is propelling the demand for plastic fasteners in the
region.
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Key
players operating in the plastic fasteners market include E & T Fasteners,
micro plastics, inc., Stanley Engineered Fastening, Craftech Industries,
Melfast, Inc., and Product Components Corporation.
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