Market report: fasteners

Discretionary clothing purchases are down, as people nervously watching the economy delay purchase of new coats, shoes, suits and playwear. This consumer restraint is affecting manufacturers of needles, buttons, zippers, hooks, snaps, rivets and Velcro™ closures, according to “Textile Fasteners and Needles: A U.S. Market Report,” recently completed by Global Industry Analysts Inc., San Jose, Calif. Despite current slowdowns in the fastener industry, growth and discretionary spending are beginning to increase, as is the number of people taking up sewing for stress-relief or hobby reasons. The Global Industry Analysts’ report projects that the fasteners market will zip up to $1.22 billion by 2015.