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IMARC Group's report titled "Industrial Fasteners Market Report by Raw Materials (Metal, Plastic), Products (Externally Threaded Fasteners, Internally Threaded Fasteners, Non-Threaded Fasteners, Aerospace Grade Fasteners), Type (Bolts, Nuts, Screws, Washers, Rivets, and Others), Application (Automotive, Aerospace, Building and Construction, Industrial Machinery, Home Appliances, Lawns and Gardens, Motors and Pumps, Furniture, Plumbing Products, and Others), and Region 2024-2032". The global industrial fasteners market size reached US$ 98.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 140.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.93% during 2024-2032.
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/industrial-fasteners-market/requestsample
Factors Affecting the Growth of the Industrial Fasteners Industry:
- Technological Advancements:
Innovations in materials science are leading to the development of high-performance materials for fasteners, including stainless steel, titanium, and advanced alloys. These materials offer enhanced strength, corrosion resistance, and durability, making them suitable for demanding applications in industries like aerospace, automotive, and construction. Furthermore, technology-driven manufacturing processes, such as precision machining, cold forming, and additive manufacturing, enable the production of fasteners with complex geometries and tight tolerances. These processes enhance the quality and consistency of fasteners while also increasing production efficiency and reducing costs.
- Thriving Manufacturing and Construction Industry:
Manufacturing facilities require a vast array of fasteners for assembling machinery, equipment, and production lines. As the manufacturing sector is expanding to meet the growing demand for goods, there is a corresponding increase in the consumption of fasteners. Moreover, construction projects, ranging from residential buildings to commercial complexes and infrastructure projects, rely heavily on fasteners for structural integrity and safety. Fasteners are used in various construction applications, such as framing, roofing, flooring, and plumbing. The thriving construction industry is driving the demand for a wide range of fasteners.
- Focus on Energy Efficiency and Sustainability:
There is a growing demand for fasteners made from environment friendly materials, such as recycled steel, aluminum, and other sustainable alloys. Key players are incorporating sustainable sourcing practices and using materials with lower carbon footprints to produce fasteners, thereby reducing environmental impact. In addition, lightweight fasteners contribute to energy efficiency by reducing the overall weight of assembled structures, vehicles, and equipment. This can lead to lower fuel consumption in automotive and aerospace applications and decrease energy requirements for transportation and handling of materials during construction.
Leading Companies Operating in the Global Industrial Fasteners Industry:
- Acument Global Technologies Inc.
- ATF Inc.
- Hilti Corporation
- Howmet Aerospace Inc.
- Kova Fasteners Private Limited
- LISI SA
- MacLean-Fogg Company
- MISUMI Group Inc.
- MW Industries Inc.
- Nifco Inc.
- Precision Castparts Corp.
- SFS Group AG
- Stanley Black & Decker Inc.
Industrial Fasteners Market Report Segmentation:
By Raw Materials:
- Metal
- Plastic
Metal represents the largest segment due to its versatility, durability, and strength.
By Products:
- Externally Threaded Fasteners
- Internally Threaded Fasteners
- Non-Threaded Fasteners
- Aerospace Grade Fasteners
Externally threaded fasteners account for the majority of the market share owing to their widespread use across various industries, including automotive, construction, aerospace, and electronics.
By Type:
- Bolts
- Nuts
- Screws
- Washers
- Rivets
- Others
Screws hold the biggest market share as they offer significant advantages in terms of strength, durability, and reliability compared to other fastening methods.
By Application:
- Automotive
- Aerospace
- Building and Construction
- Industrial Machinery
- Home Appliances
- Lawns and Gardens
- Motors and Pumps
- Furniture
- Plumbing Products
- Others
Automotive exhibits a clear dominance in the market, driven by the high production volumes, necessitating a constant and substantial supply of fasteners to support assembly lines.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Asia-Pacific enjoys the leading position in the industrial fasteners market on account of the burgeoning industrial landscape, characterized by rapid industrialization and infrastructural development.
Global Industrial Fasteners Market Trends:
The adoption of digital technologies and Industry 4.0 principles in manufacturing processes, such as automation, robotics, and data analytics, enhances the efficiency, flexibility, and productivity of fastener production. Digitalization enables real-time monitoring of manufacturing parameters, predictive maintenance, and optimization of production schedules, leading to improved quality and reduced lead times.
The rising integration of smart technologies, such as radio-frequency identification (RFID) tags and embedded sensors, into fasteners enables real-time monitoring of fastener performance, condition, and integrity. Smart fastening solutions offer benefits like remote monitoring, predictive maintenance, and enhanced traceability, particularly in industries where safety and reliability are paramount.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact US:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: [email protected]
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