Snap Fastener Market Insights and Forecast to 2028 - Valuates Reports

Due to the COVID-19 pandemic, the global Snap Fastener market size is estimated to be worth US$ million in 2022 and is forecast to a readjusted size of US$ million by 2028 with a CAGR of % during the review period.

Fully considering the economic change by this health crisis, Metal Snap Fastener accounting for % of the Snap Fastener global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period.

While Aerospace segment is altered to an % CAGR throughout this forecast period.

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Snap Fastener

A snap fastener, also called snap button, press stud, press fastener, dome fastener, popper, snap and tich (or tich button), is a pair of interlocking discs, made out of a metal or plastic, commonly used in place of traditional buttons to fasten clothing and for similar purposes. A circular lip under one disc fits into a groove on the top of the other, holding them fast until a certain amount of force is applied.

Snap Fastener Market Size and Share

The global snap fastener market size was valued at US$ XX million in 2021 and is projected to reach US$ XX million by 2028, at a CAGR of XX% during the forecast period. The market is driven by the growing demand for snap fasteners in various industries, such as apparel, automotive, and medical.

Snap Fastener Market Segment By Type

The snap fastener market is segmented by type into metal and plastic. Metal snap fasteners are the most widely used type, accounting for a major share of the market. They are durable and can withstand high temperatures. Plastic snap fasteners are less expensive than metal snap fasteners and are available in a variety of colors and styles.

Snap Fastener Market Segment By Application

The snap fastener market is segmented by application into apparel, automotive, medical, and others. Apparel is the largest application segment, accounting for a major share of the market. Snap fasteners are used in a variety of apparel items, such as shirts, pants, and jackets. Automotive is the second-largest application segment, accounting for a significant share of the market. Snap fasteners are used in a variety of automotive parts, such as seatbelts, airbags, and dashboards. Medical is the third-largest application segment, accounting for a growing share of the market. Snap fasteners are used in a variety of medical devices, such as surgical gowns, gloves, and masks.

Snap Fastener Market Top Five Companies

The top five snap fastener companies in the world are:

YKK GROUP
Scovill Fasteners
Koh-i-noor
Carmo A/S
Mouser
These companies are leading the market due to their strong R&D capabilities, extensive product portfolio, and global reach.

Key Drivers and Trends

The key drivers of the snap fastener market are:

Growing demand for snap fasteners in various industries
Increasing demand for lightweight and durable snap fasteners
Growing demand for snap fasteners in the medical industry
The key trends in the snap fastener market are:

Increasing focus on the development of new snap fastener materials
Increasing focus on the development of snap fasteners with enhanced features
Increasing focus on the development of snap fasteners that are environmentally friendly
Challenges and Opportunities

The key challenges in the snap fastener market are:

Competition from low-cost producers
Rising raw material prices
Stringent government regulations
The key opportunities in the snap fastener market are:

Growing demand for snap fasteners in emerging markets
Increasing demand for snap fasteners in the automotive industry
Increasing demand for snap fasteners in the medical industry
Conclusion

The snap fastener market is expected to grow at a significant CAGR during the forecast period. The market is driven by the growing demand for snap fasteners in various industries, such as apparel, automotive, and medical. The key players in the market are focusing on the development of new snap fastener materials, enhanced features, and environmentally friendly snap fasteners.

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This release was published on openPR.