Global Industrial Fasteners Market by Product (Non-Threaded, Externally Threaded, Internally Threaded) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Industry Insights

In 2018, the global market for industrial fasteners was valued at USD 83.34 million. The market is expected to grow at a 4.1% CAGR over the forecast period. The projected growth period will be driven by a rise in custom fastener production and product penetration of plastic versions in the automotive industry.

The shift in manufacturing towards innovative products such as hybrid, mini, and specialty fasteners, to meet changing consumer demand is expected to be a boon for growth. Market participants are also engaging in mergers to improve their production capabilities, product variety, and geographic reach. This strengthens their position.

The United States is involved in large-volume import and export trading on the international market. China, Japan, Germany and South Korea are the country's major import partners. ATF Inc., Illinois Tool Works, Inc., and Acument Global Technolgies are some of the country's major producers.

In the event of a defect in the quality of fasteners, consumers can seek compensation from manufacturers, particularly those from the aerospace and automotive sectors. These products must pass stringent quality inspections to ensure they meet all standards, including ASTM, ASME and BS.

Rising metal prices and their increasing demand in other industries, including construction, will likely impact raw material supply for fasteners. The presence of many suppliers with large production volumes will likely limit the dominance among raw material suppliers.

The market for industrial fasteners is likely to slow down due to the increasing use of adhesives and tapes as bonding and NVH products, especially in the automotive sector. The irreplaceable capability of metal-grade products to provide heavy-duty impact resistance is expected to limit substitutes.

Raw Material Insights

Plastic fasteners made up a smaller percentage of the market in 2018 than its metal counterpart. This is due to their weak strength and poor impact resistance, particularly for heavy-duty applications. However, the aerospace and automotive industries will continue to demand plastic fasteners due to their light weight, low cost and superior corrosion resistance.

Many raw materials are used to make plastic fasteners, including polycarbonate polyurethane and polyvinyl chloride. Because of their excellent insulation, heat resistance and flame retardancy, polycarbonate-based products are widely used in the electric industry.

Metal fasteners have dominated the industry for more than 90% of its market share. These products have exceptional mechanical strength and impact resistance in heavy-duty industrial machinery and construction equipment. This is expected to give the product an advantage over its competitors.

Steel is the most common material used to make fasteners. This is due to its strong mechanical properties. Stainless steel fasteners can be used for applications that require high tensile strengths, temperature resistance, corrosion resistance, or both. There are three types of stainless steel that can be used as industrial fasteners: austenitic (martensitic), ferritic (ferritic), and Martensitic.

Product Insights

Due to the increasing use of internally threaded fasteners in construction, automotive, and motorcycle manufacturing, the demand is expected to grow at 3.7% CAGR over the forecast period. The market will benefit from innovations in design to improve performance and vibration resistance.

For manufacturing internal threaded fasteners, stainless steel is the most commonly used material. These fasteners can also be made from brass, alloy steel, or aluminum. Most nuts are polished or plated with chrome to enhance their performance and durability in end-use applications.

The quality, performance, raw materials, price, and technical specifications of aerospace-grade products are significantly different from their commercial-grade counterparts. Commercial-grade fasteners, for example, are made from carbon steel. Aerospace-grade fasteners, however, are made using corrosion-resistant and heated to 125,000 psi. This heat is to attain desired properties.

The non-threaded segment of the market accounted for 25.3% in 2018. This product is widely used in roofing, subflooring, and decking. Market growth will be positive over the forecast period. The growing demand for grommets, pins and other electronic components is expected to drive growth.

Application Insights

From 2019 to 2025, the product demand for industrial machinery like construction and mining will increase at a 4.4% CAGR. The components used in the construction of machinery determine its performance. Therefore, the environment in which the machine will operate is a major factor in the selection process.

In 2018, the demand for this product in lawns, gardening equipment, was worth USD 1.46 billion. The projected CAGR is 3.2%. These machines are in high demand because they require fasteners to withstand high vibrations. This application is most popular with bolts, pins, or studs.

For use with processed wood materials, furniture screws and nuts can be used. These nuts and screws are used to join different wood panel materials like plywood or particleboard. Furniture fasteners can be mounted and taken out easily, making it easy to move.

Most commonly used fasteners are nuts, bolts and screws. The product is used in furniture applications to attach handles, doors, sides and drawers. The projected decline in demand for adhesives in furniture applications is likely to limit the supply.

Regional Insights

The North American market for automotive applications accounted for 29.3% in 2018. Due to rising production of electric cars in the region, plastic fasteners are seeing a lot of adoption in this market. Over the forecast period, regional demand will see a 4.0% CAGR.

Due to the high preference of consumers towards adhesives and plastic alternatives, automotive metal fasteners have seen a slowing growth. The key factors that will affect the demand are likely to be rising metal prices and a growing demand for lightweight components in the automotive industry over the forecast period.

Europe was the second largest regional segment in 2018, thanks to significant product demand from developed economies like France, Germany, Russia, Italy and Russia. The region's largest revenue generator was the automotive industry in the same year.

The European lawns and gardening equipment market was worth USD 593.1 millions in 2018. Due to their widespread use in residential and commercial gardening, there is likely to be a growing demand for small tractors and lawnmowers in the region. This will lead to a positive impact on the industry's growth.

Market Share in Industrial Fasteners

The major end-users are automotive, building and construction and marine, as well as electrical and electronic, and OEM. To reduce the risk of new entrants, leading manufacturers are increasing their focus on R&D in the area of raw material. This will improve durability, strength, temperature and pressure resistance, as well as temperature and pressure resistance.

To maintain market competition, many companies have gained global standard certification. More than 140 Taiwanese companies have been granted aerospace certification, allowing them to produce aerospace fasteners under strict quality control and compliance with certification standards like AS9100 or NADCAP.

There are many factors that influence the competition, including technological innovations, distribution partnerships, product portfolios, strategic developments, capabilities, and product portfolios. Stanley Black & Decker, Inc., MW Industries Inc., Arconic, Illinois Tool Works, Inc., and Penn Engineering & Manufacturing Corporation are the key players in this market.

The Report Covers Certain Segments

The report provides a forecast of revenue growth at the global, regional, or country level and also analyzes the most recent industry trends in each sub-segment from 2014 to 2025. Grand View Research segmented the global market for industrial fasteners based on product, region, raw material, and application.

• The Raw Material Outlook (Revenue USD Millions, 2014-2025)

  • Plastic

  • Metal

• Product Outlook (Revenue USD Million, 2014-2025)

  • Externally threaded

  • Internally threaded

  • Non-Threaded

  • Aerospace Grade

• App Outlook (Revenue USD Million, 2014-2025)

  • Automotive

  • Aerospace

  • Building & Construction

  • Industrial Machinery

  • Home Appliances

  • Lawn and Garden

  • Motors and pumps

  • Furniture

  • Plumbing Products

  • Other

• Region Outlook (Revenue USD Million, 2014-2025)

  • North America

    • The U.S.

    • Canada

    • Mexico

  • Europe

    • Germany

    • Spain

    • France

  • Asia Pacific

    • China

    • India

    • Japan

    • South Korea

    • Malaysia

    • Indonesia

    • Thailand

  • Central & South America

    • Brazil

  • Middle East & Africa

    • UAE

Up Market Research published a new report titled “Industrial Fasteners Market research report which is segmented by Product (Non-Threaded, Externally Threaded, Internally Threaded), By Players/Companies Inc; and Penn Engineering & Manufacturing Corporation, Inc; MW Industries Inc; Arconic; Illinois Tool Works, Stanley Black & Decker”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Industrial Fasteners Market Report Segments:

The market is segmented by Product (Non-Threaded, Externally Threaded, Internally Threaded).

Industrial Fasteners Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Industrial Fasteners Market

Overview of the regional outlook of the Industrial Fasteners Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Industrial Fasteners Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Industrial Fasteners Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Non-Threaded

                2. Externally Threaded

                3. Internally Threaded

7. Market scenario by region, sub-region, and country.
8. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
9. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
10. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Industrial Fasteners Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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• Correctly Positioning New Products
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Reasons to Purchase the Industrial Fasteners Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.