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Global Industry Analysts Predicts the World Industrial Fasteners Market to Reach $87.3 Billion by 2026

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Edition: 17; released: March 2022
Executive Pool: 11345
Companies: 322 – Players covered include Acument® Global Technologies; Bulten AB; Earnest Machine Product Company; Federal Screw Works; Gem-Year Industrial Co., Ltd.; Howmet Aerospace Inc.; Illinois Tool Works, Inc.; infasco; KAMAX Holding GmbH & Co. KG; LISI Group; LISI Aerospace; LISI Automotive; MacLean-Fogg Company; Marmon Holdings Inc.; Atlas Bolt & Screw Company LLC; MNP Corp.; Nippon Industrial Fasteners Company (Nifco); Nitto Seiko Co., Ltd.; Nucor Corporation; Precision Castparts Corp.; Cherry Aerospace; SPS Technologies; STANLEY Engineered Fastening; Sundram Fasteners Limited; TR Fastenings; Whitesell Group; Wilhelm Böllhoff GmbH & Co. KG and Others.
Coverage: All major geographies and key segments
Segments: Raw Material (Metal, Plastic); Product Type (Externally Threaded, Internally Threaded, Non Threaded, Aerospace Grade); Application (Automotive, Industrial Machinery, Aerospace, Building & Construction, Home Appliances, Motors & Pumps, Plumbing Products, Lawn & Garden, Other Applications)
Geographies: World; USES; Canada; Japanese; China; Europe; France; Germany; Italy; UK; Spain; Russia; Rest of Europe; Asia-Pacific; Australia; India; South Korea; Rest of Asia-Pacific; Latin America; Argentina; Brazilian; Mexico; Rest of Latin America; Middle East; Africa.

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ABSTRACT-

Global Industrial Fasteners Market to Reach $87.3 Billion by 2026
Industrial fasteners are components particularly designed for assembling and connecting parts and equipment. In addition, these products perform several other functions, and are used in various industries. These fasteners have good resistance to most chemicals and weather conditions and have high durability. Demand for industrial fasteners is anticipated to register steady growth in the long run, owing to rising demand from various end-use sectors such as construction, machinery, and automotive after the COVID-19 pandemic subsides in 2020. Strong revival in the construction and automotive markets will fuel demand for these fasteners in several developed regions. Further, the growing adoption of lightweight fasteners and titanium fasteners in the automotive and aerospace sectors respectively is also likely to bode well for the market. The expanding automotive sector globally is expected to sustain demand for fasteners. The growing production of light commercial vehicles, medium commercial vehicles, textile machinery, heavy earth moving equipment, aircraft, utility vehicles, and machine tools are also expected to drive demand for fasteners in the future. Adoption of industrial fasteners in eastern europe, Indiaand China is likely to rise in the forthcoming years.

Amid the COVID-19 crisis, the global market for Industrial Fasteners estimated at US$69.7 billion in the year 2022, it is projected to reach a revised size of US$87.3 billion by the year 2026, growing at a CAGR of 4.2% over the analysis period. Metal Fasteners, one of the segments analyzed in the report, is projected to record 4% CAGR and reach US$80.4 billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Plastic segment is readjusted to a revised 5.5% CAGR for the next 7-year period. Despite the increasing use of adhesives and chemical bonding in automotive applications, use of metal fasteners continue to dominate given the unrivaled strength and structural integrity offered. The development of newer manufacturing technologies is also helping sustain the dominance of metal fasteners. Plastic Fasteners, especially Nylon Fasteners, are growing in popularity encouraged by the technology breakthroughs achieved in composite material R&D. Glass and/or metallic fillers are often used in combination with plastics to enhance the strength and performance.

The US Market is Estimated at $12.3 Billion in 2022, While China is Forecast to Reach $19.5 Billion by 2026
The Industrial Fasteners market in the US is estimated at US$12.3 billion in the year 2022. Chinathe world`s second largest economy, is forecast to reach a projected market size of US$19.5 billion by the year 2026 trailing a CAGR of 5.8% over the analysis period. Among the other noteworthy geographic markets are Japanese and Canada, each forecast to grow at 2.7% and 4.1% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.7% CAGR. Asia-Pacific (including China and Japanese) is anticipated to drive the global industrial fasteners market in value terms. The anticipated growth in manufacturing, automotive, and construction sectors will strongly drive demand for industrial fasteners in the region. Rising demand for automobiles, especially in China and Indiaand the growing construction and maintenance activities will buoy demand for industrial fasteners in the region.

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About Global Industry Analysts, Inc. & StrategyR™
Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.

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Global Industry Analysts, Inc.
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www.StrategyR.com
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