Global Industrial Fasteners Market
Global Industrial Fasteners Market Size, Trends & Growth Opportunity, By Raw Material (Metal, and Plastic), By Product (Internally Threaded, Externally Threaded, Non-Threaded, and Aerospace Grade),By Application, By Region and Forecast till 2027
Global Industrial Fasteners Market
Industrial fasteners are defined as the high quality fasteners that are used in a variety of applications ranging from maritime to automobile & construction industry. These are hardware tools which are specifically used to join objects mechanically. Industrial fasteners are the basic essentials for manufacturing, construction and assembling applications. These are made of alloy, stainless steel, and carbon steel. Industrial fasteners find their application in various end use industries such as plumbing products, industrial machinery aerospace, pumps, and motors, etc. Usually, industrial fasteners are protected by corrosion-proof paint or coating.
Market Drivers
The growing demand for commercial and residential housing projects as well as the increase in government spending on infrastructure activities across the globe is a primary factor responsible for the industrial fasteners market growth over the forecast period. These are widely used in the construction industry to join the two or more objects mechanically in a non-permanent way. Also, these are used in heavy duty applications to join materials together, as the industry requires precision & strength. Furthermore, the increase in demand from aerospace industry is driving the growth of the global industrial fasteners market. Ongoing technological advancements, coupled with the increase in research and development spending on the aerospace & defense sector will positively influence the global industrial fasteners market growth. Moreover, the growing need for bolts, screws, studs, nuts, rivets, nails and washers is expected to propel the global industrial fasteners market growth. In addition, the rise in its usage in electrical & electronics, machinery, and MRO applications will support the market growth.
Market Restraints
The availability of alternatives is a challenging factor which expected to hamper the global industrial fasteners market growth. The growing substitution of metal fasteners by adhesives, and tapes in NVH and bonding applications may limit the market growth.
Market Segmentation
The Global Industrial Fasteners Market is segmented into raw material, product, and application, and region.
On the basis of raw material market is segmented into raw material such as Metal, and Plastic, based on the product market is segmented into Internally Threaded, Externally Threaded, Non-Threaded, and Aerospace Grade. Further, market is segmented on the basis of application such as Aerospace, Automotive, Building & Construction, Industrial Machinery, Home Appliances, Furniture, Plumbing Products, and Others.
Also, the Global Industrial Fasteners Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market Key players
Examples of some of the market participants operating in the Global Industrial Fasteners Market are Bulten, AFI Industries, TR Fastenings Ltd, KAMAX Holding GmbH & Co. KG, Alcoa Fastening Systems Limited, DOKKA Fasteners AS, Asia Bolts Industries LLC, Federal Screw Works,Infasco, Earnest Machine Product Company, etc.
Market Taxonomy
By Raw Material
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