Indonesia Automotive Plastic Fasteners Market Outlook

growing demand for cars in indonesia is one of the primary factors driving the growth of the automotive plastic fasteners market in the country. though the demand for cars is growing, the country is still considered as one of the least motorized countries in the world. however, the growing middle-class population is gradually creating a demand for automobiles, creating a favorable scenario for automotive plastic fasteners manufacturers and suppliers to capitalise on the same. the government’s vehicles modernization scheme, targeted at replacing more than 2 million old vehicles in the country, is expected to further boost the demand for plastic fasteners over the forecast period. the scheme constitutes incentives such as lower registration and excise taxes on new vehicles and also environmental incentives for modern, efficient and fuel efficient vehicles. as the automotive aftermarket is flourishing in the country with the mounting number of cars, the demand for automotive plastic fasteners is further increasing. the automotive industry is gradually shifting towards light weighting its vehicles for improving fuel economy, and this shift has enabled the use of plastic fasteners as an alternative to metal fasteners in a range of auto body components and powertrain components. lightweight vehicles generally require fewer parts, which reduces the overall cost of production and also helps in improving fuel efficiency. plus, it is easier to form plastic and mold it into different shapes, also enabling vendors to reduce their production cost and offer high quality components at cost effective pricing. in indonesia, the demand for automotive plastic fasteners is expected to remain consistent for the upcoming years due to rising consumer inclination towards light weight vehicles. the demand for aesthetic appeal and interior components is likely to supplement the growth of the plastic fasteners market in the country. the country is also witnessing expanding production footprints of several automakers, which is significantly influencing the number of producers for automotive plastic fasteners. thus, the outlook for the indonesian automotive plastic fasteners market presents a positive outlook for 2018-2032.