Industrial Fasteners Market

Industrial Fasteners Market Size Analysis

According to a research survey conducted by ChemView Consulting, in 2022, the Global Industrial Fasteners Market was worth US$ 95,100.0 Mn and is expected to grow at a CAGR of 3.3% over the forecast period. The market is expected to hit US$ 1,27,400.0 Mn by 2032 end.

Industrial fasteners may be applied in various industries, including construction, automotive, and nautical. These fasteners may handle almost every weather condition and chemical ingredient. In many developing sectors, corrosion- and other naturally occurring abrasion-resistant fasteners are a requirement.

For producers of industrial fasteners, this opens up profitable options. Businesses in the industrial fasteners industry are concentrating on cutting-edge materials like carbon fiber and alloys because they make it easier to create industrial fasteners that are lightweight, corrosion-resistant, and superconducting. Other focus areas are injection-molded plastic and metal fasteners that are lighter, simpler to install, and more affordable.

Market Dynamic

THE GROWTH IN THE CONSTRUCTION INDUSTRY DRIVES THE MARKET

The expansion of several end-use sectors has increased the need for diverse fastener types. The improvement of infrastructure, increased residential buildings, and investments across various industries, including renewable energy and telecommunications, contribute to population growth in growing nations.

As a result, the demand for bolt fasteners and other industrial fasteners is increasing. Additionally, the world’s train and light rail transit systems for people and goods are expanding quickly. The need for energy conservation and the growth of metropolitan areas necessitate modern mass transit systems, which drive the transportation system.

USE IN VARIOUS APPLICATIONS CREATES AMPLE OPPORTUNITIES

Urbanization, industrialization, and rising demand in other application sectors like construction and machine manufacture benefit the industrial fasteners industry. Because of this, manufacturers continuously develop new industrial fasteners that enhance existing structural qualities and fix problems with earlier models. Such initiatives maintain industry competition and create the framework for further growth.

Market Segments Covered in Report

By Raw Material:

• Plastic
• Metal

By Product:

• Externally Threaded
• Internally Threaded
• Non-threaded
• Aerospace Grade

By Application:

• Automotive
• Aerospace
• Building & Construction
• Industrial Machinery
• Home Appliances
• Lawn and Garden
• Motors and Pumps
• Furniture
• Plumbing Products
• Others

By Region and Country:

• North America (U.S., Canada)
• Latin America (Brazil, Mexico, Rest of Latin America)
• Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
• Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
• Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
• Africa (South Africa, Nigeria, Egypt, Rest of Africa)

Segment-Wise Analysis

Why are metal–type Industrial Fasteners projected to have the highest CAGR?

Due to the increasing demand for metal fasteners, the raw material category had the biggest revenue share of 90.0% in 2021. Metal goods’ high tensile strength, prolonged lifespan, and durability are why they are so popular in industrial bonding applications. Stainless steel, nylon, aluminum, carbon steel, nickel, silicon bronze, copper, brass, alloy steel, bronze, and titanium are used in producing metal fasteners.

Materials that can conduct severe and regular duty activities are necessary for the equipment or machinery to accomplish their important functions.

Why is the Externally Threaded segment expected to expand the fastest during the forecast period?

In 2021, the externally threaded product sector had the highest revenue share of 49.0%. Throughout the predicted term, the section will probably continue to rule. The most popular kinds of externally threaded fasteners are bolts and screws. These goods are extensively employed in the heavy equipment manufacturing, shipbuilding, railway, and automobile sectors.

Which application segment is expected to be the fastest growing?

The automotive application category generated more than 30.0% of all sales in 2020. Globally widespread commercial and passenger car production has aided the segment’s expansion. Additionally, it is anticipated that the increased manufacturing of automobiles worldwide due to the rising desire for EVs would enhance fastener demand in the years to come.

Region-Wise Analysis

The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, the Middle East, and Africa.

• The industrial fasteners market is expected to dominate the Asia Pacific during the forecast period with a market share of 27.0%. The industrial fasteners market in the Asia Pacific is being driven by the economies of China and India, a rise in disposable income throughout the region, and the expansion of the automotive sector. The development of the worldwide building sector drives the need for fasteners in the Asia Pacific.

Competition Analysis

There are several companies and a fragmented market for industrial fasteners. Due to the participation of several local players, the competition is anticipated to increase over the next few years. In addition to novel designs for better grip, manufacturers in the industrial fasteners industry are concentrating on the material aspect.

The latest trends in client demand are being sought after by several businesses. They offer cutting-edge goods like nano-laminated metallic-coated fasteners to stop surface-type corrosion.

Some of the key developments that have taken place in the Industrial Fasteners Market include:

• In November 2021, The MISUMI Group Inc. moved and increased the size of its Indian subsidiary (sales site, distribution site, and production site). The firm could treble the quantity of in-stock goods to over 90,000 thanks to this move, expand the warehouse floor area by almost 60% over the prior location, and improve supply and delivery times.
• In February 2022, The Threadstrong Line of Made-in-the-USA aftermarket wheel fasteners and the associated e-commerce website www.Threadstrong.us were introduced by MacLean-Fogg Component Solutions (MFCS). Through the internet, these fasteners will be directly accessible to clients. This tactic is anticipated to aid the organization in increasing its revenue and market share.

A list of some of the key suppliers present in the market are:

• Arconic Fastening Systems and Rings
• Acument Global Technologies, Inc.
• ATF, Inc.
• Dokka Fasteners A S
• LISI Group – Link Solutions for Industry
• Nippon Industrial Fasteners Company (Nifco)
• Hilti Corporation
• MW Industries, Inc.
• Birmingham Fastener and Supply, Inc.
• SESCO Industries, Inc.
• Elgin Fastener Group LLC
• Rockford Fastener, Inc.
• Slidematic Precision Components, Inc.
• Manufacturing Associates, Inc.
• Eastwood Manufacturing
• Brunner Manufacturing Co., Inc.
• Decker Industries Corporation
• Penn Engineering & Manufacturing Corporation
• EJOT
• Illinois Tool Works, Inc.
• Stanley Black & Decker, Inc.
• KOVA Fasteners Pvt. Ltd.
• Standard Fasteners Ltd.
• Precision Castparts Corp.

Global Industrial Fasteners Market 2022-2032: Report Coverage and Highlights

• Assessment of the historical and current market size (2017-2021), market projections (2022-2032), and its contribution to the parent market
• Key drivers, restraints, opportunities, and key emerging trends impacting market growth
• Predictions on critical supply, demand, and technological trends and changes in consumer behavior
• Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
• Segment-wise, country-wise, and region-wise market analysis
• Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
• Key product innovations and regulatory framework
• Covid-19 impact on the market and how to navigate
• Strategic market analysis and recommendations on crucial winning strategies