Fasteners Market by Raw Material (Metal, Plastic), Commodity (Bolts, Nuts, Screws), Product, Application, Distribution Channel - Global Forecast 2024-2030

Fasteners Market by Raw Material (Metal, Plastic), Commodity (Bolts, Nuts, Screws), Product, Application, Distribution Channel - Global Forecast 2024-2030

The Fasteners Market size was estimated at USD 65.33 billion in 2023 and expected to reach USD 68.95 billion in 2024, at a CAGR 5.85% to reach USD 97.30 billion by 2030.

Fasteners are mechanical devices designed to join or affix two or more objects together temporarily or permanently, including screws, bolts, nuts, and rivets, among others. Their application spans industries such as automotive, aerospace, construction, and electronics, primarily due to their reliability, ease of use, and the variety of types available to suit different materials and strength requirements. The growing demand for fasteners is driven by factors such as the expansion of the construction and automotive sectors, advancements in manufacturing techniques, and the global surge in infrastructure projects. However, challenges such as the potential for corrosion, material compatibility, and the need for precise installation can limit their effectiveness. Addressing these disadvantages requires ongoing innovation in material science to develop corrosion-resistant alloys, employ advanced coatings, and enhance design techniques for improved strength and durability. The increasing adoption of lightweight and high-strength materials in various industries and the rise of Industry 4.0 fostering smart manufacturing practices are expected to elevate the fasteners market. Implementing IoT-enabled fasteners for real-time monitoring and adopting eco-friendly materials are anticipated to redefine their application and open new avenues for growth in the fastener industry.

Regional Insights

In the Americas, the use of fasteners is heavily driven by the automotive, aerospace, and construction industries, with a strong emphasis on innovation and high-quality manufacturing standards. The region boasts a robust network of manufacturers, many of which are global leaders aiming to enhance product performance and sustainability. Production techniques often involve advanced technologies, including automation and new material applications. Meanwhile, the APAC region is characterized by its vast production capabilities and is the largest producer and consumer of fasteners. This region benefits from lower manufacturing costs, a vast labor force, and increasing infrastructure development, making it a global hub for standard and specialized fasteners catering to various industrial demands. However, the landscape is fragmented with numerous small and medium-sized enterprises, leading to fierce competition and pressure on pricing strategies. The EMEA region presents a blend of mature and emerging markets, with a strong focus on quality standards and innovation, particularly in Germany, Italy, and the Middle East. The European fastener industry is highly regulated, emphasizing environmental and safety standards. Companies in EMEA tend to focus on niche markets, producing specialized fasteners for the automotive, aerospace, and renewable energy sectors, with sustainability and product optimization being key trends.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Fasteners Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Growing Mechanization and Automation in the Automotive Sector
Increase in Production Rates in Aviation and Demand for Aviation-grade Fasteners
Significant penetration of PTFE fasteners in food, medical, and surgical equipment

Market Restraints

Rising Concerns over Greenhouse Gases (GHG) Emissions

Market Opportunities

Advancement in the Fasteners Technology
High Potential with Continuous Growth in Urbanization and Industrialization

Market Challenges

Fluctuation in the cost of the raw material

Market Segmentation Analysis

Raw Material: Exponential utility of metal fasteners owing to their effectiveness and durability
Application: Rising need for advanced fasteners in the automotive & aerospace industries

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Fasteners Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Fasteners Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Sundram Fasteners to Invest INR 1,411 Crore on Expansion

Sundram Fasteners recently announced a substantial investment strategy through a Memorandum of Understanding with the Tamil Nadu government. This ambitious investment, amounting to INR 1,411 crore, was unveiled at the Tamil Nadu Global Investors Meet 2024 in Chennai. The investment aims to align with the state's Industrial Policy as well as its EV Policy, marking a significant step towards expanding Sundram Fasteners’ capacity in existing product lines and components for electric vehicles.

Fastener Supply Company to Acquire General Machinery in Strategic Merger Deal

Fastener Supply Company announced the recent acquisition of General Machinery, which significantly enhances the company's standing in the fastener industry. This strategic move strengthens Fastener Supply Company's existing capabilities and product range and opens up new avenues for growth and innovation. This acquisition, having received all necessary regulatory approvals, promises a seamless integration process, maintaining high customer service standards throughout the transition.

TR Launches New Products to Its Plastics & Rubber Hardware Range

TR Fastenings, a division of the Trifast group, announced plans to broaden its product spectrum by integrating an additional 1,500 part numbers into its already extensive Plastic & Rubber Hardware collection. This strategic enhancement directly results from the company's commitment to meeting the growing need for innovative plastic materials and components.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Fasteners Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Fasteners Market, highlighting leading vendors and their innovative profiles. These include Ananka Group, Asia Bolts Industries LLC, ATF Inc., Birmingham Fastener & Supply, Inc., Boltun Corporation, Ltd., Bufab Group, CDP Fastener Group, Inc., DE FASTENERS INC., Dokka Fasteners AS, Hilti Corporation, Kaloti Group, Kamax Holding GmbH & Co. KG, KOVA Fasteners Pvt Ltd., LISI Group, Meidoh Co., Ltd., MW Industries, Inc., Nifco Inc., Sesco Industries Inc., Simmonds Marshall Limited, Stanley Black & Decker, Inc., Sundram Fasteners Ltd., The Boeing Company, TR Fastenings by Trifast group, TriMas Corporation, and Usha Fasteners.

Market Segmentation & Coverage

This research report categorizes the Fasteners Market to forecast the revenues and analyze trends in each of the following sub-markets:

Raw Material
Metal
Plastic
Commodity
Bolts
Nuts
Screws
Product
Aerospace Grade
Externally Threaded
Internally Threaded
Medical Grade
Non-Threaded
Application
Aerospace
Automotive
Building & Construction
Furniture
Home Appliances
Industrial Machinery
Lawn & Garden
Motors & Pumps
Plumbing Products
Distribution Channel
Offline
Online
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year