Industrial Fasteners Market Size, Share, Trends, Growth 2032

Industrial Fasteners Market Insights

According to Zion Market Research, the global Industrial Fasteners Market was worth USD 92.56 Billion in 2023. The market is forecast to reach USD 141.88 Billion by 2032, growing at a compound annual growth rate (CAGR) of 4.86% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Industrial Fasteners Market industry over the next decade.

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Industrial Fasteners Market: Overview

Fasteners are employed to join together the different elements of the automobile such as soldering, spot welding, washers, nuts & bolts, clips, clamps, and screws among others. Most fasteners are made of steel due to their resilient mechanical properties. Stainless steel fasteners are used in applications where the primary requirements include high tensile strength, temperature resistance, and corrosion resistance.

The growing infrastructure and construction industries in India, China, Thailand, and Vietnam may spur the growth of the market.

However, increasing mergers and acquisitions is claimed to boost the growth of the global industrial fasteners market in the near future. For example, in December 2017, Kian Soon Mechanical Components was obtained by BUFAb. Moreover, in Jan 2023, Stanley black & decker acquired consolidated aerospace manufacturing, which design and manufactures innovative, highly fastener solutions and engineered hardware for demanding aerospace application.

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Industrial Fasteners Market : Growth Factors

The global industrial fasteners market is majorly boosted by rapidly growing demand from the end-use sectors such as aerospace, automotive, and construction. In addition to this, sturdy recovery in the automotive and construction sector is sustaining the development of the global industrial fasteners market in developed countries. Apart from this, an increasing requirement in aerospace applications for costly titanium fasteners and in the automotive sector for lightweight plastic fasteners is likely to boost the requirement of the global industrial fasteners market in years to come. On the other hand, the possible threat of substitution from optional joining techs such as adhesives is likely to negatively affect the global industrial fasteners market development.

Industrial fasteners are tools utilized to connect two or more parts of a product, enabling the development of a superior quality and reliable end product. A variety of types of industrial fasteners is used across sectors such as automotive, construction, mining, marine, nuclear, petrochemicals, railways, and aerospace. A number of application-specific fasteners are engineered with high strength and durability to meet the precise needs of end-users.

Global industrial fasteners market is expected to register a significant growth owing to its huge demand from automotive industry. Growing construction sector coupled with industrialization in emerging countries such as India, China, and Brazil, is expected to drive the industrial fasteners market.

Furthermore, increasing consumption in electrical and electronics, aerospace, and machinery applications is anticipated to fuel industrial fasteners market growth within the forecast period. However, alternative methods such as clinching, adhesives and welding are expected to restrict fasteners demand in near future. Nevertheless, advanced technology and superior mechanical properties of fasteners are expected to provide new growth avenues for the industrial fasteners market.

Industrial Fasteners Market: Report Scope

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Industrial Fasteners Market Segment Analysis Preview  

On the basis of Product, the Industrial Fasteners market has been divided into Externally Threaded, Aerospace Grade, Standard, and Others. Standard internally thread segment held the major share in the market owing to its increasing demand in construction, industrial machinery, railways, cars, and motorcycle manufacturing.

On the basis of Application, the market is segmented into Automotive OEM, Machinery OEM, MRO and Construction, and Other OEM. Automotive OEM dominated the Industrial Fasteners industry in 2020, accounting for almost 38.2% of total Industrial Fasteners sales.

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Industrial Fasteners Market: Regional Analysis Preview  

The Asia Pacific was the biggest area for the industrial fasteners market in 2020. It added up to over 34% share of the total income of the industrial fasteners market. The development in the area is majorly credited to the development of major end-user sectors such as aerospace, automotive, shipbuilding, defense, and railways. Europe and North America are likely to have decent development in the industrial fasteners market in the years to come. In addition, the Middle East & Africa, and Latin America are likely to see moderate development in the industrial fasteners market due to the increasing demand from the automotive & construction sectors.  

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Key Market Players & Competitive Landscape

The major players operating Industrial Fasteners market are:

• Standard Fasteners Ltd.
• Kova Fasteners Pvt. Ltd.
• LISI Group
• Stanley Black & Decker
• Nifco
• Precision Castparts Corp
• Hilti
• MW Industries Inc.
• ATF Inc.
• Wilhelm Bollhoff GmbH & Co. KGvand Nitto Seiko Co. Ltd

 The global Industrial Fasteners Market is segmented as follows:

By Product

• Externally Threaded
• Aerospace Grade
• Standard
• Others

By Application  

• Automotive OEM  
• Machinery OEM
• MRO and Construction
• Others OEM

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa