Global Industrial Fastener Research Report: By Raw Material (Metal and Plastic), By Product (Externally Threaded, Internally Threaded, Non-Threaded), By Application (Automotive, Aerospace, Building & Construction, Industrial Machinery, Others), and Region (North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa) Global Industry Analysis, Size, Share, Growth, Trends, Regional Analysis, Competitor Analysis and Forecast 2023-2031.
Global Industrial Fastener Market is predicted to reach approximately USD 163 billion by 2031, at a CAGR of 6.31% from 2023 to 2031.
The global industrial fastener market refers to the market for a large range of devices and instruments used to permanently or semi-permanently link pieces together. Many are mechanical in nature and are familiar to any homeowner, such as nuts, bolts, hinges, studs, handles, knobs, flanges, rivets, and screws. Screws, for example, can be divided into several subcategories: thumbscrews, self-drilling, shoulder, captive, jackscrews, security etc. The market is driven by growth in building and construction industry and the rising demand for hybrid fasteners.
Global industrial fastener report scope and segmentation
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Report Attribute |
Details |
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Estimated Market Value (2022) |
USD 90 billion |
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Projected Market Value (2031) |
USD 163 billion |
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Base Year |
2022 |
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Forecast Years |
2023 – 2031 |
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Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment- Based on By Raw Material, By Product, By Application & By Region. |
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Segments Covered |
By Raw Material, By Product, By Application & By Region. |
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Forecast Units |
Value (USD Billion or Million), and Volume (Units) |
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Quantitative Units |
Revenue in USD million/billion and CAGR from 2023 to 2031. |
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Regions Covered |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
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Countries Covered |
U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others. |
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Report Coverage |
Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis. |
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Delivery Format |
Delivered as an attached PDF and Excel through email, according to the purchase option. |
Global Industrial Fastener Dynamics
The market dynamics of industrial fastener are influenced by several factors. The growth in building and construction industry and the rising demand for hybrid fasteners drive the market growth. However, emergence of alternatives use act as restraints. Opportunities arise from the increasing demand from aerospace industry. The nature of competition is highly intense, with various companies operating at both global and regional levels. The market is fragmented with a mix of large and small manufacturers. As the market evolves with high quality products and consumer demand continues to rise, the dynamics of the industrial fastener market are expected to remain dynamic and highly competitive.
Global industrial fastener drivers
Growth in building and construction industry
The global industrial fastener market is being driven by the growth in building and construction industry. Fasteners are used in a wide range of construction projects from residential and commercial buildings. Manufacturers are developing new and innovative fasteners to meet the specific demands from building and construction industry. There is huge demand for high performance and lightweight fasteners that can withstand harsh environmental conditions and heavy loads. Thus, with the demand from the building and construction industry the global industrial fastener market is expected to grow during the forecast period.
Rising demand for hybrid fasteners
The global industrial fastener market is being fuelled by the rising demand for hybrid fasteners. Hybrid fasteners are made from a combination of materials such as metal and plastic or metal and ceramics. These fasteners are lighter, stronger, resistant to corrosion and less expensive than the traditional metal fasteners. The increasing use of hybrid fasteners in aerospace and automotive industry is driving the market growth. Thus, with the rising demand for hybrid fasteners the global industrial fastener market is expected to grow during the forecast period.
Emergence of alternatives
The global industrial fastener market faces a restraint in the form of emergence of alternatives. The aerospace and automotive industries are increasingly demanding lightweight and high strength fasteners. Industries such as marine and oil and gas industries required more corrosion-resistant fasteners. Traditional metal fasteners often do not meet the requirements of the specific industry due to this the other alternatives such as adhesives, welds, 3D printed fasteners are being used to meet the specific requirement. Thus, the emergence of alternatives to industrial fasteners is hindering the market growth of the global industrial fastener market during the forecast period.
Increasing demand from aerospace industry
The global industrial fastener market presents significant opportunities driven by the rising demand from aerospace industry. Aerospace fasteners are essential components in aircraft and spacecraft, as they provide a secure and reliable connection between different parts. The increasing demand for high performance fasteners in aerospace must withstand harsh environmental conditions, such as high temperatures, vibrations, and pressure variations, heavy loads etc. Thus, the increasing demand from the aerospace industry creates an opportunity for the global industrial fastener market during the forecast period.
Segment Overview
By raw material
The market for Industrial Fasteners is segmented based on raw material into two categories: metal and plastic. Metal fastener segment is dominating the market due to its high mechanical strength, impact and resistance to corrosion. They are used in a wide range of applications such as automotive, aerospace, construction, and manufacturing. Metal fasteners can be made from a variety of metals: steel, stainless steel, aluminium, brass, copper, titanium. Plastic fasteners are becoming increasingly used in a range of applications due to its low cost, lightweight, and corrosion resistance. They are also non-conductive, making them excellent for electrical applications. Plastic fasteners can be made from a variety of materials such as Nylon, Polypropylene, Acetal, Polycarbonate, ABS. This segmentation allows consumers to choose the type of raw material that best suits their specific needs, preferences, and budgetary constraints.
By product
The industrial fastener market is categorized based on product into externally threaded, internally threaded, non-threaded. Externally threaded fastener is dominating the market due to the increasing demand from the automotive and construction industries. Externally threaded fasteners are the most prevalent and are utilized in a variety of applications. Bolts, screws, studs, and nuts are examples of fasteners. Internally threaded fastener is expected to grow at a significant rate in the coming years, driven by the increasing demand from the electronics and aerospace industries. Internally threaded fasteners are commonly used to connect two or more components. Washers, locknuts, and inserts are examples. Non threaded fastener is expected to grow at a moderate rate over the coming years, driven by the increasing demand from the automotive and construction industries. Rivets, pins, and clips are examples of non-threaded fasteners. They are used to connect components without the usage of threads. This segmentation allows consumers to choose the type of product that aligns with their specific needs and preferences.
By application
The industrial fastener market is segmented based on application into automotive, aerospace, building & construction, industrial machinery and others. Automotive is dominating the market segment due to its increasing demand for lightweight and fuel-efficient vehicles. Aerospace is expected to grow at a significant rate driven by the increasing demand for air travel and the development of new aircraft technologies. Building and construction is expected to grow at a moderate rate driven by the increasing demand for infrastructure development. Industrial machinery is expected to grow at a moderate rate driven by the increasing demand for industrial automation. The others segment includes home appliances, lawns and gardens, motors and pump etc. This market segmentation enables tailored solutions for various application types catering to specific requirements and preferences.
Global industrial fastener overview by region
Asia Pacific
Asia Pacific currently dominates the global industrial fastener market, and this dominance is expected to continue in the future. This is driven by the rapid industrialization and urbanization in emerging economies such as China and India. Automotive, industrial machinery, electronics, and construction uses dominate the region's industrial fasteners business. Economic expansion in Asia Pacific has increased the demand for enhanced public infrastructures such as roads, harbours, airports, and rail transportation networks, which is expected to drive the Asia Pacific market. As the demand for global industrial fastener continues to rise, Asia Pacific is projected to maintain its leading position in the market in the coming years.
North America
North America is experiencing significant growth in the global industrial fastener market, with a significant compound annual growth rate (CAGR). The region's increasing consumption due to the existence of a diverse manufacturing base of automotive, electronics, and aerospace firms, it is a significant user of automotive fasteners. With the continuous advancements in industrial fastener technology and the rising demand in various applications, North America is expected to witness a substantial CAGR in the coming years.
Global industrial fastener competitive landscape
The competitive landscape of the market is marked by a wide array of players competing for market dominance. Several key players have introduced new high strength and lightweight industrial fasteners due to the increasing demand from construction, automotive and aerospace industries. Additionally, various other manufacturers are actively contributing to the market with their unique offerings. The competition is fierce, with companies continually striving to gain an edge through technological innovations, customer-centric features, and expanding their product ranges. As consumer demand for industrial fastener continues to grow, the market is anticipated to witness even more intense competition among these players. The major players in the market are, Arconic Fastening Systems and Rings, Acument Global Technologies, In, ATF, Inc., Dokka Fasteners A S, LISI Group - Link Solutions for Industry, Nippon Industrial Fasteners Company (Nifco), Hilti Corporation, MW Industries, Inc., Birmingham Fasteners and Supply, Inc., SESCO Industries, Inc.
Global industrial fastener recent developments
May 2023,
The Taiwan International Fastener Show showcased Taiwan's fastening technology, which is characterized by its high-end, high-tech, and high-value features. The event brought together prominent industry players from both domestic and international markets. Notable exhibitors included New Best Wire, Wu Jii, and Swiss Steel in the "Materials, Moulds, Tools Area"; Zyh Yin, Pro Power, Taiwan Steel Group, Sheh Fung Screws, and Lu Chu Shin Yee in the "Nuts, Bolts, and Screws Area"; and Jern Yao, Chum Yuan, Tycoons Group, and Sacma (Italy) in the "Machinery & Manufacturing Area".
Scope of global industrial fastener report
Global industrial fastener report segmentation
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ATTRIBUTE |
DETAILS |
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By Raw Material |
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By Product |
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By Application |
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By Geography |
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Customization Scope |
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Pricing |
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Objectives of the Study
The objectives of the study are summarized in 4 stages. They are as mentioned below:
To identify and estimate the market size for global industrial fastener it is segmented by raw material, by product, by application and by region. Also to understand the consumption/demand created by consumers between 2023 and 2031.
Market Landscape and Trends:
To identify and infer the drivers, restraints, opportunities, and challenges for global industrial fastener
To find out the factors which are affecting the market of global industrial fastener among consumers
To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.
Research Methodology
Our research methodology has always been the key differentiating reason which sets us apart in comparison from the competing organizations in the industry. Our organization believes in consistency along with quality and establishing a new level with every new report we generate; our methods are acclaimed and the data/information inside the report is coveted. Our research methodology involves a combination of primary and secondary research methods. Data procurement is one of the most extensive stages in our research process. Our organization helps in assisting the clients to find the opportunities by examining the market across the globe coupled with providing economic statistics for each and every region. The reports generated and published are based on primary & secondary research. In secondary research, we gather data for global Market through white papers, case studies, blogs, reference customers, news, articles, press releases, white papers, and research studies. We also have our paid data applications which includes hoovers, Bloomberg business week, Avention, and others.
Data Collection
Data collection is the process of gathering, measuring, and analyzing accurate and relevant data from a variety of sources to analyze market and forecast trends. Raw market data is obtained on a broad front. Data is continuously extracted and filtered to ensure only validated and authenticated sources are considered. Data is mined from a varied host of sources including secondary and primary sources.
Primary Research
After the secondary research process, we initiate the primary research phase in which we interact with companies operating within the market space. We interact with related industries to understand the factors that can drive or hamper a market. Exhaustive primary interviews are conducted. Various sources from both the supply and demand sides are interviewed to obtain qualitative and quantitative information for a report which includes suppliers, product providers, domain experts, CEOs, vice presidents, marketing & sales directors, Type & innovation directors, and related key executives from various key companies to ensure a holistic and unbiased picture of the market.
Secondary Research
A secondary research process is conducted to identify and collect information useful for the extensive, technical, market-oriented, and comprehensive study of the market. Secondary sources include published market studies, competitive information, white papers, analyst reports, government agencies, industry and trade associations, media sources, chambers of commerce, newsletters, trade publications, magazines, Bloomberg BusinessWeek, Factiva, D&B, annual reports, company house documents, investor presentations, articles, journals, blogs, and SEC filings of companies, newspapers, and so on. We have assigned weights to these parameters and quantified their market impacts using the weighted average analysis to derive the expected market growth rate.
Top-Down Approach & Bottom-Up Approach
In the top – down approach, the Global Batteries for Solar Energy Storage Market was further divided into various segments on the basis of the percentage share of each segment. This approach helped in arriving at the market size of each segment globally. The segments market size was further broken down in the regional market size of each segment and sub-segments. The sub-segments were further broken down to country level market. The market size arrived using this approach was then crosschecked with the market size arrived by using bottom-up approach.
In the bottom-up approach, we arrived at the country market size by identifying the revenues and market shares of the key market players. The country market sizes then were added up to arrive at regional market size of the decorated apparel, which eventually added up to arrive at global market size.
This is one of the most reliable methods as the information is directly obtained from the key players in the market and is based on the primary interviews from the key opinion leaders associated with the firms considered in the research. Furthermore, the data obtained from the company sources and the primary respondents was validated through secondary sources including government publications and Bloomberg.
Market Analysis & size Estimation
Post the data mining stage, we gather our findings and analyze them, filtering out relevant insights. These are evaluated across research teams and industry experts. All this data is collected and evaluated by our analysts. The key players in the industry or markets are identified through extensive primary and secondary research. All percentage share splits, and breakdowns have been determined using secondary sources and verified through primary sources. The market size, in terms of value and volume, is determined through primary and secondary research processes, and forecasting models including the time series model, econometric model, judgmental forecasting model, the Delphi method, among Flywheel Energy Storage. Gathered information for market analysis, competitive landscape, growth trends, product development, and pricing trends is fed into the model and analyzed simultaneously.
Quality Checking & Final Review
The analysis done by the research team is further reviewed to check for the accuracy of the data provided to ensure the clients’ requirements. This approach provides essential checks and balances which facilitate the production of quality data. This Type of revision was done in two phases for the authenticity of the data and negligible errors in the report. After quality checking, the report is reviewed to look after the presentation, Type and to recheck if all the requirements of the clients were addressed.
