The Global Automotive Fastener Market is projected to reach around USD 32.5 billion by 2027 at a CAGR of around 4.4%.
A fastener is a mechanical device that is used to join or hold two or more objects and parts in the vehicle. The main function is to avoid separation and to connect the vehicle parts and prevent leakage. Materials such as stainless steel, iron, aluminum, brass, nickel, plastic, and others are used to make automotive fasteners. They are classified into three categories such as permanent, semi-permanent and non-permanent fasteners. To improve the corrosion resistance for metal fasteners and leakage in joints, variety of coatings are used such as cadmium, zinc, chromate, bluing, and phosphate.
Market Driver:
Electrification is growing in the automotive industry as manufacturers are focusing more on developing innovative solutions which provide better connectivity solution. The rise in demand for electric and autonomous vehicles has boosted the demand for electronic systems which needs a vast set of fasteners for qualitative manufacturing. Fasteners play an important role in electric vehicles (EV) as they are used in EV battery casing, charging units, infrastructure equipment, in-car entertainment systems, and others.
Thus, the rise in demand for electronic systems is expected to drive the automotive fastener market growth during the forecast period.
Automotive manufacturers are focusing on designing small and compact engines that will result in an overall weight reduction of vehicles and will also help to reduce CO2 emission and increase fuel efficiency. This provides an opportunity for fastener manufacturers to develop complex, specially engineered fasteners, and fasteners made from materials such as aluminum and magnesium which are lighter and can maintain the performance and quality under high heat levels.
Thus, increasing demand for lightweight vehicles is anticipated to boost the market growth during the forecast period.
Market Restraint:
Adhesive fastener is replacing the traditional methods used such as bolts, nuts, rivets, welds, screws and other mechanical fasteners for joining parts in the vehicle. Using adhesive fastener benefits manufacturers in a reduction of assembly time needed by labor reduces material and production cost. Additionally, it provides easy disassembling of parts. For instance, the BONDMASTER company has designed a line of structural bonding adhesives that can replace rivets, screws, and welding. Materials like stainless steel, aluminum, copper, brass as well as combinations of metals and other substrates, including glass and plastics can be bonded with these adhesives.
Thus, the use of adhesives as an alternative for mechanical fasteners is a restraining factor for automotive Fastener market growth during the forecast period.
The report on the automotive Fastener market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.
Report Features |
Specifics |
Historical/Estimated/Forecasted Market Size Years |
2018-2027 |
Base Year for Market Calculation |
2019 |
Forecasted Period |
2020-2027 (2020 estimated year, forecasted up to 2027) |
Measured Units |
Value (USD Million), Volume (Units) |
Segments Included |
Product Type, Fastener Type, Material, Classification, and Application |
Regional Coverage |
North America, Asia-Pacific, Europe, Middle East & Africa, South Africa |
For the scope of the report, In-depth segmentation is offered by Forencis Research
Automotive Fastener Market, by Product Type
Automotive Fastener Market, by Fastener Type
Automotive Fastener Market, by Material
Automotive Fastener Market, by Classification
Automotive Fastener Market, by Application
Automotive Fastener Market, by Region
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE AUTOMOTIVE FASTENER MARKET STUDY
Note1: Tentative table of contents, may get updated during the course of research.
Note2: Company financial information is subject to availability in public domain
60+ MARKET TABLES AND 30+ FIGURES WILL BE INCLUDED IN THE STUDY