New York, NY, July 19, 2023 (GLOBE NEWSWIRE) -- Polaris Market Research has published a new research report titled “Industrial Fasteners Market Share, Size, Trends, Industry Analysis Report, By Material (Plastic and Metal); By Product (Clamps, Cable Ties, Screws, Nuts & Bolts, Rivets, Nail, Washers, Anchors, Others); By Industry; By Region; Segment Forecast, 2023 - 2032” in its research database.
“As per the latest research analysis, the global industrial fasteners market size/share will be valued at roughly USD 89,677.07 Million in 2022, and its revenue is projected to reach about USD 137,476.98 Million by 2032. The market is forecasted to expand at a compound annual growth rate of approximately 4.4% between 2023 and 2032.”
Industrial Fasteners Market: Report Overview
Industrial fasteners are a big group of devices and tools used to permanently or semi-permanently bind pieces together. Materials like metal, wood, concrete, and plastic can be fastened and secured with the help of fasteners. Also, many types and sizes include metric and inch nuts and bolts, structural bolts, threaded rods, wedge anchors, machine screws, rivets, washers, and more.
Moreover, fasteners are utilized in almost every industry and every form of imaginable product, from industrial products such as electric motors and robotics to consumer goods like cell phones, increasing the demand for the industrial fasteners market. They can also be found in unexpected locations in daily life, like the elaborate staging of important rock concerts.
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(The sample of this report is readily available on request. The report sample contains a brief introduction to the research report, a Table of Contents, a Graphical introduction of regional analysis, Top players in the market with their revenue analysis, and our research methodology.)
Our Sample Report Covers:
- 2032 Updated Report Introduction, Overview, and In-depth industry analysis.
- 110+ Pages Research Report (Inclusion of Updated Research).
- Provide Chapter-wise guidance on Requests.
- 2023 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of tables & figures.
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis.
Some of the Top Market Leaders Are:
- Penn Engineering & Manufacturing Corp.
- SHUR-LOK (Precision Castparts Corp.)
- Slidematic Precision Components
- Sesco Industries Inc
- Stanley Black & Decker
- Standard Fasteners Ltd.
- Hellermann Tyton
- Panduit
- Advanced Cable Ties Inc.
- BAND-IT IDEX Inc
- Wenzhou Longhua Daily Electron
- Changhong Plastics Group Imperial Plastics Co. Ltd.
- NORMA Group
- Acument Global Technologies
- Brunner Manufacturing Co. Inc.
- Birmingham Fastener and Supply Inc.
- Others
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Recent Developments
- Bossard Holding AG purchased Penn Engineered Fasteners Corporation in November 2022 from Penn Engineering & Manufacturing Corp.
- AALL AMERICAN Fasteners (AAF), based in Cinnaminson, was acquired by AFC Industries in December 2021. This acquisition aligns with their expansion goals as AFC sells fasteners and assembling components to manufacturing and assembly facilities for various industrial applications.
Prominent Growth Driving Factors
- Manufacturing development: The development of the manufacturing sector is a key factor in the growth and expansion of the industrial fasteners industry. As a result of the continued growth of sectors like aircraft, automotive, industrial, electronics, and construction, there is a rising need for fasteners. These fasteners are necessary for building and repairing equipment, infrastructure, vehicles, and consumer goods, which is what is fueling market expansion.
- Increased investments in infrastructure development: Infrastructure development initiatives greatly influence the industrial fasteners market demand. Substantial fasteners are needed to construct bridges, roads, buildings, utilities, and trains. The demand for construction and maintenance fasteners keeps rising as infrastructure development investments grow, particularly in emerging nations.
- Reliability and safety: The market is driven by a focus on product safety and quality. Industries across all sectors strongly emphasize the dependability and safety of their products. Fasteners are essential to guarantee the security and integrity of assembled components and products. The demand for certified and dependable fasteners is further fueled by stricter laws and standards relating to product quality and safety.
Top Findings of the Report
- Due to the rising need for fasteners in the automotive market and the expanding usage of hybrid fastening and micro methods in small assemblies, the market for industrial fasteners is seeing revenue growth.
- The industrial fasteners market segmentation is based on product, material, region, and industry.
- Asia Pacific holds the largest market share and dominated the market in 2022.
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Top Trends Influencing the Market
- Technological advancements: The industrial fasteners market size is driven ahead by innovations and technical improvements. Continuous advances in fastener materials, design, and manufacturing techniques improve their functionality, robustness, and effectiveness. Innovative coating methods, lightweight materials, and high-strength metals are used to meet the changing requirements of sectors, including automotive and aerospace. These developments guarantee that fasteners meet the standards of modern manufacturing procedures.
- New opportunities for market expansion: International trade and globalization help expand the industrial fasteners market share. Fasteners are becoming an essential component of global supply chains due to increased global trade and the development of manufacturing centers in developing nations. They are required for production, maintenance tasks in various industries, and assembly.
Segmental Analysis
- Metal Sector Accounts for the Highest Market Share
Metal fasteners are important in construction, manufacturing, and everyday usage. They are crucial parts of many different sectors. They offer sturdiness, heat and corrosion resistance, and strength. Metal fasteners are frequently made of bronze, steel, copper, aluminum, and titanium, with stainless steel being the most popular choice.
Moreover, environmental friendliness, aesthetic appeal, recyclability, and affordability are all benefits of stainless steel fasteners. They are frequently utilized in difficult situations, including harsh and underwater settings.
- Automotive Sector Holds the Largest Market Share
Automotive fasteners are crucial for connecting different vehicle parts, either permanently or temporarily. The automotive industry frequently uses fasteners like nuts, screws, rivets, studs, snap rings, and clips. The multiple forms, colors, and coatings available for automobile fasteners serve the automotive industry by improving their attractiveness and quality.
Furthermore, as vehicle production and demand continue to climb, the industrial fasteners market growth is driven by using automotive fasteners in components, including airbag housings and door panels.
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Industrial Fasteners Market: Report Scope & Segmentation
| Report Attribute | Details |
| Revenue Forecast in 2032 | USD 137,476.98 Million |
| Market size value in 2023 | USD 93,551.12 Million |
| Expected CAGR Growth | 4.4% from 2023 – 2032 |
| Base Year | 2022 |
| Forecast Year | 2023 – 2032 |
| Top Market Players | Penn Engineering & Manufacturing Corp., SHUR-LOK (Precision Castparts Corp.), Slidematic Precision Components, Sesco Industries Inc, Stanley Black & Decker, Standard Fasteners Ltd., Hellermann Tyton, Panduit, Advanced Cable Ties, Inc., BAND-IT IDEX, Inc, Wenzhou Longhua Daily Electron, Changhong Plastics Group Imperial Plastics Co. Ltd., NORMA Group, Acument Global Technologies, Brunner Manufacturing Co., Inc., Birmingham Fastener and Supply Inc., Decker Industries Corporation, Dokka Fasteners A.S., Eastwood Manufacturing, Elgin Fastener Group LLC, Hilti Corporation, Illinois Tool Works, Inc, KOVA Fasteners Pvt Ltd., MW Industries, Inc, Nippon International, Manufacturing Associates, Inc. |
| Segments Covered | By Material, By Product, By Industry, By Region |
| Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Geographical Overview
Asia Pacific: Due to domestic and foreign manufacturers in the component, machinery, and vehicle industries, the market is experiencing a growth in demand. Due to economic growth and infrastructural development, the construction industry, mainly in India, China, Thailand, and Malaysia, is driving the need for industrial fasteners. As a result of their robust markets for electric vehicles, China and India also have a large demand for fasteners due to the expanding use of these components in automotive parts.
North America: Plastic fastening goods and the production of electric vehicles are expanding the growth of the industrial fasteners market in North America. On the other hand, Europe has the second-largest market share due to the creation of automobiles and lawn and garden equipment. Compact tractors and lawnmowers are in high demand in the region's commercial and residential sectors, which is projected to fuel the growth of the industrial fasteners industry.
Browse the Detail Report “Industrial Fasteners Market Share, Size, Trends, Industry Analysis Report, By Material (Plastic and Metal); By Product (Clamps, Cable Ties, Screws, Nuts & Bolts, Rivets, Nail, Washers, Anchors, Others); By Industry; By Region; Segment Forecast, 2023 - 2032” with in-depth TOC: https://polarismarketresearch.com/industry-analysis/global-industrial-fasteners-market
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The Report Answers Questions Such As
- How much is the worth of the industrial fasteners industry?
- What are the key growth drivers of the industrial fasteners market?
- Which region has the highest growth rate in the industry?
- Who are the industrial fasteners market, key players?
- Which segment accounts for the largest share of the market?
- At what CAGR is the market expected to grow during the forecast period?
Polaris Market Research has segmented the Industrial Fasteners market report based on material, product, industry, and region:
By Material Outlook
- Plastic
- Clamps
- Cable Ties
- Screws
- Nuts & Bolts
- Rivets
- Nail
- Washers
- Anchors
- Others
- Metal
- Clamps
- Cable Ties
- Screws
- Nuts & Bolts
- Rivets
- Nail
- Washers
- Anchors
- Others
By Product Outlook
- Clamps
- Cable Ties
- Screws
- Nuts & Bolts
- Rivets
- Nail
- Washers
- Anchors
- Others
By Industry Outlook
- Automotive
- By Product
- Aerospace
- By Product
- Building & Construction
- By Product
- Industrial Machinery
- By Product
- Home Appliances
- By Product
- Lawn & Garden
- By Product
- Motors & Pumps
- By Product
- Furniture
- By Product
- Plumbing
- By Product
- Other
- By Product
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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