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Automotive Fasteners Market for Stainless steel segment holds major industry share due to its corrosion resistance property that enhances the durability and life of parts

Author : Ronak Bora | Published Date : 2019-04-03 

Global Market Insights, Inc. presents an extensive report on automotive fasteners market that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.

Europe, led by Germany has substantial share in automotive fasteners market with well-established and flourishing automobile industry hosting big players namely Audi and Volkswagen.

Asia Pacific automotive fasteners market has significant share owing to growing number of automobile manufacturers and demand of automobiles.

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Automobile fasteners are mechanical components employed in vehicles to join two or more parts together. These help in avoiding wobbling, leakage and enabling transmission of load from on body part to another. It is available in various shapes, colours and finishes to meet the requirements of end users. These are fabricated from various materials such as iron, brass and nickel each having their unique characteristics. Their quality and strength depend on integrity of the joint required in a joint.

Automotive fastener is manufactured using various materials including, iron, brass, aluminium, nickel, stainless steel and plastic. Automotive fasteners market for Stainless steel holds major share owing to its corrosion resistance property that enhances the durability and life of parts. Further, these are readily available and have better aesthetic appearance as compared to others. Iron has substantial share and used in various parts including flywheels and coupling joints owing to its high strength properties. Plastic based product is used for interiors and components namely head lamps and dash boards.

Based on the characteristics, automotive fasteners are available in removable, semi-permanent and permanent types. Automotive fasteners market for Semi-permanent will be the fastest growing segment due to its wide usage in various components and forms major contribution for after sales. Permanent has substantial share owing to its use on chassis for fastening the components.

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North America automotive fasteners market has a substantial share due to presence of OEMs and after sales centres that cater to local as well as overseas demand. Further, presence of key manufacturing companies including, Fords and General Motors has enhanced the product demand in the region.

Automotive fasteners market is used in all the passenger cars, Light Commercial Vehicles (LCV), Heavy Commercial Vehicles (HCV). Passenger cars have major share with growth in demand of personal cars and private cabs. LCV and HCV have moderate contribution and expected to depict healthy growth with rise in industrial sector and strengthening transportation sector.

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Automotive fasteners market is fragmented with the presence of substantial number of regional players. Some of the key players include Permanent Technologies, Shamrock International, Phillips Screw Company, Westfield, Atotech Deutschland, Shanghai Tianbao, Stanley Engineering Jiangsu Xing Chang Jiang International, Acument Global Technologies, NIFCO and BUlten.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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