19 September 2018: According to a report by Grand View Research, Inc., the building and construction plastic fasteners market is likely to reach USD 485.3 billion by 2025. Building and Construction Plastic Fasteners are extensively used in industrial, residential, and commercial projects. Several products include cable ties, clips, rivets, and grommets. Based on function, they can be categorized into bonding/attaching, and cable management.
On 27 June 2017 Smartrac, manufacturer of RFID products launched product lines of its Ratch tag, the RFID-enabled cable ties with integrated RFID tags. These tags can be suitable for HF and UHF frequency bands. These tangs are designed for tagging as well as asset controlling of critical equipment in several applications like lifting, supply chain, automotive wiring, and stage rigging. RFID component on the inside surface of the tag housing. This will guarantee that the transponder unit is limited inside the housing. By threading or wrapping Ratch tag to cable assemblies or wire harnesses at well-defined stages of process such as construction, manufacturing or during planned inspections.
On October 27, 2017, Advanced Cable Ties, Inc. launched its new product called NYLON 12 Cable Ties. It is a molecularly designed product and suitable for the punitive rays of the sun and corrosive outdoor elements. The product can be used in solar and wind power applications and other extreme climate surroundings due to its low water absorption capabilities and high density. It’s temperature fluctuations, are chemical resilient, and unresponsive to stress cracking.
Increasing demand for plastic cable ties, grommets, and rivets, due to their corrosion resistance properties and light weight can propel the building and construction plastic fasteners market during the forecast period (2015 to 2025). Additionally, increasing consumer focus to enhance aesthetics of residentials as well as commercial projects can boost the product demand.
North America and Europe have high product adoption due to high spending on interiors and wooden structures. But, Asia Pacific is likely to show fastest growth due to high growth of industrial, residential, and commercial growth in India.
However, rapid growth of residential, commercial, and industrial buildings in Asia Pacific and Central & South America is expected to spur industry growth in these regions over the projected period.
Key players operating in the market include Shanghai Fasteners Company, Avery Dennison Corporation, Stanley Black & Decker, and Penn Engineering.
In-Depth Research Report On Building & Construction Plastic Fasteners Market:
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