Global Industrial Fasteners Industry Report 2024: Metal Fasteners Dominate Material Segment, Specialty Fasteners Gain Traction - Outlook and Forecasts to 2029

News provided by

Mar 04, 2024, 06:45 ET

DUBLIN, March 4, 2024 /PRNewswire/ -- The "Global Industrial Fasteners Market - Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.

The market, valued at USD 89.43 billion in 2023, is projected to flourish at a compound annual growth rate (CAGR) of 5.74% over the period from 2023 to 2029.

Emerging Trends and Opportunities in the Fasteners Industry

Among the defining trends, the increasing prominence of Asian manufacturing underscores the market's growth trajectory. Nations like China, India, South Korea, and Japan are significantly contributing to the market surge with their dynamic manufacturing sectors. The construction industry's buoyant expansion worldwide further feeds into the upward trend, demanding an array of industrial fasteners to support developmental projects and infrastructure.

Industry Challenges: Raw Material Price Volatility

Despite the optimistic outlook, the market navigates through complexities arising from fluctuations in raw material prices. Producers of industrial fasteners face hurdles due to the unpredictable costs of primary materials, such as steel and aluminum, which directly influence production costs and threaten market equilibrium.

Segmentation Insights: Metal Fasteners Dominate Material Segment, Specialty Fasteners Gain Traction

Metallic fasteners, due to their versatility and durability, continue to lead the materials segment.
Within product segmentation, screws maintain supremacy, bolstered by their critical role across various end-user industries.
In terms of type, threaded fasteners hold a predominant share, underscoring their significance in sectors like construction and automotive.

End-User Applications: Automotive and Aerospace Demand Precision

Industrial fasteners find integral applications in the automotive and aerospace industries, where precision and reliability are paramount. These sectors are expected to uphold high consumption of fasteners, indicating a positive market outlook.

Distribution Channel Dynamics: Offline and Online Channels Satisfy Diverse Market Needs

The market benefits from robust offline and online distribution channels that address the distinct demands of consumers and industries, with digital platforms increasingly streamlining procurement processes.

Geographical Market Analysis: APAC a Central Contributor, North America and Europe Showcase Growth Potentials

The APAC region, led by manufacturing giants, remains a key driver of market growth, while North America and Europe persist as stable contributors, despite economic fluctuations. Each region's unique industrial landscape crafts its role within the global fasteners market.

Competitive Landscape: Innovation and Sustainable Practices Define Market Leaders

Competition within the global industrial fasteners market intensifies as companies strive for innovation and operational excellence. Industry leaders engage in strategic alliances, acquisitions, and product development, emphasizing the importance of innovation and technological advancement.

The report provides pivotal insights for stakeholders, investors, and participants in the industrial fasteners market, decoding trends, opportunities, and sector-specific dynamics that shape the landscape. In doing so, the analysis unveils key factors that stakeholders may harness for informed decision-making and strategic positioning within the market.

Key questions such as market size, dominant regions, significant trends, and the leading players in the industrial fasteners market are explored in depth, providing a comprehensive overview for readers seeking to understand the current market scenario.

Market Opportunities & Trends

Growth in Prominence of Asian Manufacturing
Industry 4.0 and Smart Precision Manufacturing
Growth in Demand for Prefabricated Buildings
Increase in Wind and Solar Energy Installations
Increase in Demand for 3D Printing

Market Growth Enablers

Growth in Construction Industry
Increase in Demand for Lightweight Fasteners
Green Initiatives and Regulations Lead to Rise in Renovations

Market Restraints

End-user Variability
Volatility in Raw Material Prices
Unrest in Europe

Key Company Profiles

Stanley Black & Decker
Hilti
ITW
Berkshire Hathaway
Howmet Aerospace
LISI
NIFCO
Fontana Gruppo

Other Prominent Vendors

3M
A&G Fasteners
Agrati Group
Aoyama Seisakusho
APL
ARaymond
B&B Specialties
Bollhoff Group
Boltfast
Bulten
Caparo
CBC Fasteners
Deepak Fasteners
EJOT
Ever Hardware Industrial
Federal Screw Works
FUCHS Schraubenwerk
Jinyi Industrial Co.
KAMAX
KOVA Fasteners
MacLean-Fogg
PennEngineering
Tong Hwei Enterprise Co.
Wurth Industrie Service
Virginia Fasteners
Apex Fasteners
C. & E. FEIN
Hebei Tailian Fastener Manufacturing
Bolt Motorcycle Hardware
MID-CONTINENT STEEL AND WIRE
Kerb-Konus-Vertriebs
Snap-on
Fasteners & Fittings
Southern Fasteners & Supply
Jet-Tek
AMPG (Accurate Manufactured Products Group)

For more information about this report visit https://www.researchandmarkets.com/r/ijt5xx

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

SOURCE Research and Markets