LONDON--(BUSINESS WIRE)--Aug 22, 2018-- analysts forecast the global automotive fasteners market to grow at a CAGR of over 4% during the forecast period, according to their latest market research report.

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Technavio has published a new market research report on the global automotive fasteners market from 2018-2022. (Graphic: Business Wire)

The new forms and functions in fastening technology is one of the major trends being witnessed in the . The automotive industry is growing rapidly based on technological advancements. So, to sustain in the market, automotive component manufacturers are adopting new technologies. Automotive fastener manufacturers have expanded their product offerings to comply with technological advancements.

This report is available at a USD 1,000 discount for a limited time only:

According to Technavio analysts, one of the key factors contributing to the growth of the global automotive fasteners market is the cost advantages of using plastic automotive fasteners:

Global automotive fasteners market: Cost advantages of using plastic automotive fasteners

Plastics are replacing metal in numerous automotive applications. For example, plastic clips are replacing metal brackets, which are used in automotive fluid routing assemblies as mounting supports for heating, ventilation, and air conditioning and brake lines.

According to a senior analyst at Technavio for research on automotive components, “There are multiple cost advantages in using plastic in place of metals. Plastic fasteners’ non-corrosiveness and versatility to make complex shapes would drive the global automotive fasteners market during the forecast period.”

Global automotive fasteners market: Segmentation analysis

The global automotive fasteners market research report provides market segmentation by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.

APAC led the market in 2017 with a market share of nearly 53%. The region is expected to dominate the market through 2022, with an increase in its market share.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

Market ecosystem Market characteristics Market segmentation analysis

Market Sizing

Market definition Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

Regional comparison Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

Vendors covered Vendor classification Market positioning of vendors Competitive scenario

About Technavio

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With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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SOURCE: Technavio Research

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