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.
According to Chemview Consulting, some of the key factors anticipated to propel the global industrial fasteners market include the rising reach of the automotive and construction industries and the growth in bespoke fastener production. Along with these factors, the market is anticipated to grow in the upcoming years due to increased urbanization, industrialization, and fastener demand in the aerospace sector.
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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)
Key Takeaways
- Based on raw material, 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.
- Based on product, 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.
- Based on region, 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 Summary
Key companies covered in the market study 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 and Elgin Fastener Group LLC.
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Report Key Highlights and Coverage
- Our comprehensive, data-backed, and facts-oriented report provides niche and cross-sectional analysis at global and country levels.
- Assessment of the historical (actual data) and current market size (2017-2021), market projections (2022-2032), and CAGR.
- The market assessment across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa.
- Competitive tactical intelligence, key strategies adopted by top players, production capacity and company shares analysis, product brand surveys, and export-import analysis
- Pricing analysis to set and benchmark your current or future offerings across each product type helps you understand whether your pricing strategy is aligned with market expectations and can be compared to market disruptions.
- Predictions on critical supply and demand trends and technological expertise needed to address operations scalability.
- Consumer behavior shifts and their implications for players, list of end-users, and their consumption analysis.
- Key drivers, restraints, opportunities, and emerging trends impacting the market growth.
- Value chain analysis (list of manufacturers, distributors, end-users, and average profitability margins).
- Strategic market analysis, recommendations, and future headways on crucial winning strategies.
About ChemView Consulting
ChemView Consulting is a leading information, market intelligence, and business consulting firm serving clients worldwide in Chemical & Materials, Food & Beverage, Oil & Gas, Clean Energy & Power, and Packaging domains. In their business transformation journey, we have been collaborating with global enterprises, including 70% of the largest Forbes 1000 enterprises, helping them deliver on their business ambitions. ChemView Consulting serves clients in approximately 100 countries, with its office in New York, U.S., and Pune, India.
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