Building And Construction Plastic Fasteners Market Size, Share & Trends Analysis Report By Product (Cable Ties, Clips, Rivets, Grommets), By Function, By Distribution Channel, By End-use, And Segment Forecasts, 2018 - 2025

Industry Insights

The global building and construction plastic fasteners market size was estimated at USD 320.4 million in 2016. Favorable demographics, population expansion, and growing demand for residential housing in major economies of Asia Pacific are expected to drive the construction industry, thereby impacting the market on a positive note.

The manufacturers of plastic fasteners are expected to make high investments in the development of new products with superior strength and corrosion resistance property to cater to the increasing end-use demand. The presence of several players offering a wide product portfolio along with customized application-based products is expected to spur industry rivalry.

China accounted for a major share in the global production of plastic fasteners owing to the presence of a large number of small- and medium-scale manufacturers in the country. Low product pricing offered by these players in the international market on account of low costs associated with labor, land, and abundant availability of raw materials is constituting a competitive rivalry among them.

Volatility in raw material prices and high competition in the market are expected to affect the profit margins of the manufacturers. The manufacturers are anticipated to expand their geographical reach in order to get hold of consumers from niche markets and reduce their dependency on third-party suppliers.

Traditionally, metal fasteners have been dominating the industry owing to their high impact resistance and superior strength as 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.

Rising population and high investments in residential and commercial construction activities are the key factors driving construction industry growth in China, India, and Mexico, thereby augmenting the product demand in these countries. Rising consumer focus toward the aesthetics of residential and commercial buildings is expected to propel the product demand in interiors and cable management application over the next eight years.

Product Insights

Cable tie fasteners accounted for the largest share and are expected to witness growth at a CAGR of 4.5% from 2017 to 2025 owing to their high demand for cable management application. They are compact, lightweight, and have high tensile strength because of which they are expected to be in high demand for cable management applications.

Plastic clips are manufactured using nylon and polypropylene and are used to provide support to electric drop wires and rods in residential, industrial, and commercial buildings. These clips can also be used to secure pipe fittings and support shelf structures in buildings. Growing demand for these clips in corrugated constructions is expected to drive industry growth.

Plastic grommets demand in the concerned industry was valued at USD 44.6 million. They are used to support ducts, wires, and pipelines and also protect wires from sharp steel edges. These fasteners are also primarily used where brass and copper pipes pass through service holes in steel framing.

Rivets are used at places where it is difficult to access the rear side of structures, such as walls and ceilings. They are also used in other applications including window blinds, hanger straps, and wind guards. The availability of plastic rivets at low cost and easy installation process is expected to spur their growth over the projected period.

Function Insights

The existing buildings and new constructions have enormous cables installed. Keeping track of these cables is becoming a serious problem, which has resulted in the need for cable management. Thus, cable management is anticipated to be the key end-use segment for the industry, which is expected to ascend at a CAGR of 4.3% from 2017 to 2025.

The demand for plastic fasteners in bonding and attaching application is expected to progress at a CAGR of 5.4% from 2017 to 2025. The rising significance of plastic rivets for bonding and attaching purposes in wooden constructions are likely to propel the growth of the plastic fasteners industry over the forecast period.

Plastic grommets are expected to witness the highest growth owing to the rising consumer focus on using aesthetically appealing products in modern constructions. Grommets are primarily used in bonding and attaching applications. The selection of plastic fasteners for bonding application depends on the surface on which they are going to be attached.

Distribution Insights

The demand for building and construction plastic fasteners is met by direct distribution as well as by third-party distribution. Direct distribution dominated the industry across all the regions, accounting for over 75% of the overall market owing to the presence of a large number of manufacturers with a wide distribution network.

The industry is characterized by the presence of many small-, medium-, and large-scale manufacturers across the globe. Asia Pacific, Europe, and North America have several major manufacturers, distributors, and suppliers of fasteners catering to the local as well as international consumers.

Third-party distribution is expected to ascend at a CAGR of 4.1% from 2017 to 2025. The demand for third-party distribution is expected to be higher in the regions where industry players lack in terms of the distribution network and reach. However, efforts taken by the manufacturers to expand their global reach to gain higher profit margins and retain the consumer base are expected to drive the growth of the direct distribution segment over its counterpart.

End-use Insights

The residential segment dominated the industry and is expected to grow at the fastest rate owing to rising product demand in cable management and bonding applications. However, less penetration of plastic fasteners in the region as compared to that in Europe and North America has affected the market share for the region over the past few years. 

Increasing investments in commercial constructions, such as hotels, hospitals, and educational institutes, are projected to have a positive impact on industry growth over the next eight years. However, low impact resistance and mechanical strength displayed by these products, especially in the case of heavy-duty applications, are expected to affect the industry growth.

The product is expected to witness the lowest penetration in the industrial building and construction sector owing to its low strength. In addition, these fasteners tend to melt in industrial structures, such as chemical manufacturing facilities, as they cannot withstand high temperatures. These factors are expected to restrain their growth over the forecast period.

Regional Insights

Asia Pacific was the fastest-growing market for building and construction plastic fasteners in 2016 and is expected to ascend at a CAGR of 5.4% from 2017 to 2025. Factors such as low interest rates and improving the GDP of major economies, including India and China, are expected to boost constructional activities, thereby driving the product demand in the region.

The construction industry in North America has witnessed growth owing to recovery from the economic recession of 2009 & 2010, thereby leading to a rise in investments in residential and non-residential construction. These factors are expected to boost the construction industry, and thereby drive the building and construction plastic fasteners market over the next eight years.

The market in Central & South America is expected to progress at a CAGR of 5.1% from 2017 to 2025, owing to the rise in residential and commercial building activities in Venezuela, Brazil, Argentina, and Peru. The launch of free housing program and investor-friendly policies in Brazil to improve the construction sector is likely to open new avenues for industry growth.

The industry in the Middle East & Africa stood for USD 18.1 million in 2016. The rapid expansion of the tourism sector and the introduction of the White Land tax initiative by the Saudi Arabian government to address housing shortage are expected to drive constructional activities, thereby driving the product demand over the forecast period.

Construction Plastic Fasteners Market Share Insights

The industry is highly fragmented and competitive with the presence of numerous small- and medium-scale manufacturers. The presence of several manufacturers coupled with ease of product availability is expected to lower the bargaining power of buyers over the projected period.

Increasing demand for innovative plastic materials is expected to open avenues for new industry players. The manufacturers compete on the basis of product design, price, and quality. However, existing manufacturers with broad product portfolio, wide global reach, and customization services are expected to pose a threat to the new players in the market.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional & country levels and provides an analysis of the industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the global building and construction plastic fasteners market on the basis of product, function, distribution, end-use, and region:

• Product Outlook (Revenue, USD Million, 2014 - 2025)

  • Cable Ties

  • Others

    • Clips

    • Rivets

    • Grommets

• Function Outlook (Revenue, USD Million, 2014 - 2025)

  • Bonding/Attaching

  • Cable management

• Distribution Outlook (Revenue, USD Million, 2014 - 2025)

  • Direct

  • Third party

• End-use Outlook (Revenue, USD Million, 2014 - 2025)

  • Industrial

  • Residential

  • Commercial

• Regional Outlook (Revenue, USD Million, 2014 - 2025)

  • North America

    • The U.S.

  • Europe

    • Germany

    • The U.K.

  • Asia Pacific

    • China

    • India

    • Japan

  • Central & South America

    • Brazil

  • The Middle East & Africa