Dublin, March 19, 2024 (GLOBE NEWSWIRE) -- The "Marine Fasteners Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F" report has been added to ResearchAndMarkets.com's offering.
The marine fasteners market is showcasing substantial growth, driven by progressive trends in the shipbuilding industry and technological advancements.
In the light of increasing marine trade and offshore exploration, the demand for marine fasteners continues to rise. The report indicates a healthy projection for the market's future, signifying strong potential through to 2028. The driving force behind this upward trend is the burgeoning shipbuilding sector, alongside technological innovations that have led to the development of high-strength, lightweight, and corrosion-resistant fastening solutions.
Marine fasteners, renowned for their robustness and reliability, are essential components for securing maritime structures. The integrity and safety of ships and other marine vessels are largely hinged on the quality of these fasteners. With an emphasis on sustainability, the market is seeing an increasing shift towards eco-friendly fastener solutions. This initiative is in line with stringent environmental regulations shaping the marine industry and impacting the selection of materials and products.
Furthermore, advancements in smart technologies are pioneering a new era for marine fasteners. Integration of IoT capabilities into fasteners is setting a trend towards intelligent maritime operations. The industry is witnessing the emergence of 'smart ships' where real-time monitoring and predictive maintenance are becoming standard features, thus improving safety and operational efficiency.
Asia-Pacific Dominates Marine Fasteners Market Amidst Global Expansion
Geographically, the Asia-Pacific region is at the forefront of the marine fasteners market, with notable contributions from shipbuilding hubs such as China and South Korea. The report also highlights significant market shares held by European countries, where advanced marine engineering is the norm. Furthermore, the market is experiencing rapid expansion in regions like the Middle East and Africa, owing to increasing maritime security initiatives.
Within the marketplace, stainless steel fasteners maintain dominance due to their superior durability and corrosion resistance. The report showcases key insights into the market's competitive landscape, profiling leading companies and their strategies to navigate the complex industry dynamics.
Key Market Trends
- Growing Offshore Oil and Gas Industry Augments Fasteners Demand
- Increased Focus on High-Strength, Lightweight Materials
- Smart Technologies Revolutionize Marine Fastening Systems
- Regulatory Compliance Shapes Eco-Friendly Innovations
The future of the marine fasteners market appears promising with a continued emphasis on innovation and sustainable development. As the marine industry gears up for a technological revolution, the demand for advanced, high-performance fasteners is projected to escalate, presenting ample growth prospects for key market players.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 185 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $1.7 Billion |
| Forecasted Market Value (USD) by 2028 | $2.32 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
Report Scope:
In this report, the Global Marine Fasteners Market has been segmented into the following categories:
Marine Fasteners Market, By Type:
- Steel Type
- Cooper Type
Marine Fasteners Market, By Application:
- Commercial
- Special Purpose
Marine Fasteners Market, By Region:
- Asia-Pacific
- China
- India
- Japan
- Indonesia
- Thailand
- South Korea
- Australia
- Europe & CIS
- Germany
- Spain
- France
- Russia
- Italy
- United Kingdom
- Belgium
- North America
- United States
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Colombia
- Middle East & Africa
- South Africa
- Turkey
- Saudi Arabia
- UAE
Companies Profiled:
- Attwood Marine Products
- Seastar Solutions
- Marine Fasteners, Inc
- Fasco Fasteners
- Bainbridge Marine
- HandiMan Marine
- Arrow Fastener Company
- Perfect Fit - McDonald
- Sea-Dog Corporation
For more information about this report visit https://www.researchandmarkets.com/r/d8xhjf
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.
Attachment
