Plastic Buckles Market Size, Share, Growth, and Industry Analysis, By Type (Side Release Buckles, Center Push and Cam Buckles, Others), By Distribution (Outdoor, Bags & Luggage, Others) and Regional Insights and Forecast To 2031

Updated On: 22 April 2024

PLASTIC BUCKLES MARKET REPORT OVERVIEW

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The global plastic buckles market size was USD 395.5 million in 2019 and the market is projected to touch USD 461.3 million by 2026, exhibiting a CAGR of 2.2% during the forecast period.

Plastic buckles have a wide application in a variety of industries such as automobiles packaging, and consumer products. The increasing need for compact and robust packaging solutions is projected to propel the industry forward. Furthermore, the expanding e-commerce sector and the requirement for secure packing are driving market expansion.

Many buckles are produced by artists and expert designers and are highly expensive and give a luxury lifestyle. Buckles are additionally utilized in sandal and sneakers to secure the wearing process and to provide better traction in footwear. Buckles especially breeches buckles frequently appear in long shoes to keep them from slipping. The global increase in buckle demand is an important factor in the growth of the market.

COVID-19 Impact: Imposition of Restrictions on Hypermarket to Deplete Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

During COVID-19, several industries were experiencing severe economic downturns; the spread of the COVID-19 virus had a significant impact on the plastic buckles market growth. To stop spreading of the virus illnesses, the government implemented a nationwide lockdown, causing significant disruption in the raw material supply chain and threatening the buckle market's manufacturing cycle. The government imposed restrictions on hypermarkets, megastores, supermarkets, and brand stores, which significantly hampered demand in the global buckle market.  

Restrictions were imposed by the authorities on a number of enjoyable pursuits and occasions, which resulted in a significant decrease in demand for buckles, as these buckles are primarily used as gift articles in wedding ceremonies and occasions, as well as life-saving gears in many enjoyable endeavors such as parachuting, riding, and river rafting, among others.

LATEST TRENDS

"Emphasis on Sustainability to Stimulate Market Development"

The increasing emphasis on sustainability is one of the significant market trends observed within the plastic buckles industry. Manufacturers are designing eco-friendly plastic buckles which are both recyclable and reusable in response to rising environmental consciousness. This trend is being driven by increased demand for environmentally friendly packaging solutions as well as the implementation of severe government laws.

PLASTIC BUCKLES MARKET SEGMENTATION

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• By Type

Based on type the global market can be categorized into side release buckles, center push and cam buckles, others.

Side Release Buckles: The male buckle and the female buckle are the two main components of a side release buckle. Single released buckles have a single prong that fits into the holes of a strap or belt. They are frequently utilized into belts, bags, followed by accessories for clothing. During the market projection period, single-released buckles are predicted to have the biggest market share.

Center Push and Cam Buckles: These buckles provide straightforward opening and shutting mechanisms, making them excellent for applications that require frequent attaching and unfastening. They are extensively utilized in outdoor gear, bags, and safety equipment, and they are heavily used in outdoor activities. These s are projected to drive market expansion.

Others: Furthermore, double-prong buckles contain two prongs that enter into numerous holes on a strap, increasing stability and adjustability. These are widely used in fashion belts as well as vintage-inspired ornaments.

• By Application

Based on application the global market can be categorized into outdoor, bags & luggage, others.

Outdoor: Buckles were also utilized in bags, tents, hammocks for relaxation, climb gear, and various other outdoor equipment. They must be strong, durable, and weather resistant. During the projected period, this category is expected to drive the market.

Bags & Luggage: Belt buckles, handbag buckles, footwear buckles, and ornamental buckles for clothes are all examples of buckles utilized in design and apparel. These buckles are both utilitarian and decorative.

Others: Buckles are commonly employed in the vehicle industry for safety purposes since they serve to keep passengers fastened to the seats while also preventing unlatching and unexpected shocks. Buckles are important in cars as well as additional automobiles because if people do not wear seat belts during an accident, the security air bag systems will not be enabled to deploy, which can result in multiple injuries and death. The increased use of buckles in the car industry is a major factor driving the growth of the market.

DRIVING FACTORS

"Significant Investments in Product Creativity to Support Market Expansion"

Key players are making significant investments in product creativity and participating in the research and development process in order to provide improved and novel products to meet consumer demand while competing with rivals and competitors. Many various styles of buckles have been introduced by key players, including side buckles, traditional buckles, sliding buckles, and trim buckles.

These numerous kinds of buckles are employed for a variety of functions and serve as a lifesaving device by protecting individuals from various injuries and reducing the likelihood of unknown and accidental events that may result in death. They have also produced a variety of distinctive and attractive buckles that are utilized in fashion accessories to enhance the looks and attractiveness of fashion garments.

"Utilization in Theme Parks to Foster Industry Progress"

Buckles are commonly used in theme parks to ensure the safety of riders on huge rides. People enjoy riding on giant rides because they provide a thrilling experience for riders and are a fun activity. Following the unexpected increase in fatalities in amusement parks, ride service providers have been more worried about people's lives and the safety of visitors, and they are adopting better and more advanced buckles that have more gripping power and improve rider safety.

These buckles are additionally utilized in life jackets used in rafting on rivers and paragliding to keep individuals safe and decrease the possibility of unexpected incidents. The increased use of buckles in life-saving equipment is the most important factor driving the worldwide buckles market's rise.

RESTRAINING FACTOR

"Changes in Price within Raw Materials to Stop Market Evolution"

Changes in prices within raw materials, including plastics and metals, can have an impact on the cost of goods being produced within the market. Manufacturers face uncertainty as a result of price fluctuation, which can lead to higher production costs. An increase in the selling price of brass, which is frequently used for buckles, might result in greater manufacturing expenses and potentially affect buckle prices in the market.

Alternative fastening systems, including Velcro, zips, and magnet closures, compete with buckles in the market. These alternatives may provide convenience or special benefits in specific applications, offering an obstacle to buckle producers.

PLASTIC BUCKLES MARKET REGIONAL INSIGHTS

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"North America Domination on the marketplace Attributed to Thriving Fashion Sector "

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

The market in North America is substantial, owing to the substantial presence of fashion companies, outdoor enthusiasts, and severe safety requirements. This region has a thriving fashion sector, with plenty of demand for fashionable and unique buckle designs. The outdoor gear industry, which includes camping and adventure sports equipment, also supports the requirement for long-lasting and useful buckles.

Strict safety requirements and laws in the automotive industry assure a continual need for buckles employed as seat belts and safeguarding devices. The development of online stores and customization possibilities fuels industry growth and is predicted to account for the majority of plastic buckles market share during the projection period.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• YKK (Japan)
• Nifco Inc. (Japan)
• ITW Nexus (U.S.)
• American Cord & Webbing (U.S.)
• KAM Garment Accessories (China)
• Due Emme (Italy)
• Duraflex (U.S.)
• Zhongshan Jimei Handbag Part Co., Ltd (China)
• Directex (U.S.)
• John Howard Company (U.S.)
• Shin Fang Plastic Industrial Co (China)
• Nung Lai Co (China)
• Stonex Co (U.S.)
• Bowmer Bond (U.K.)

INDUSTRIAL DEVELOPMENT

January 2023: LyondellBasell (NYSE: LYB) along with Audi announced a groundbreaking collaboration today to help stop the loop on mixed automobile plastic waste. Audi has placed plastic seatbelt buckle coverings made by LyondellBasell in the Q8 e-tron to enable the sourcing of raw materials from combined automobile plastic waste.

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.