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Industrial Fasteners Market

Industrial Fasteners Market

Industrial Fasteners Market By Material (Metal, Polymers), By Type (Screws, Nuts, Bolts, Washers), By Application (Chemical Industry, Transportation, Marine), By Sales Channel (Online, Offline)- Global Market Insights 2021 to 2031

Industrial Fasteners Market

Market Outlook of Industrial Fasteners

The global demand observed a decline of 2.5% in 2020, and stood at 30,060 KT. Demand for polymer fasteners fell by 3.2% to 2,495 KT, whereas, that for metal fasteners experienced a decline of 2.6% to 27,564 KT.

However, the overall market is set to regain traction and expand at a CAGR of around 5% through 2031.

Key Points Covered in Industrial Fasteners Industry Survey:

  • Market Estimates and Forecasts (2016-2031)
  • Key Drivers and Restraints Shaping Market Growth
  • Segment-wise, Country-wise, and Region-wise Analysis
  • Competition Mapping and Benchmarking
  • Top Industrial Fastener Suppliers
  • Market Share Analysis
  • Assessment by Product Grade / Purity / Formulation Standards
  • Assessment of Import Price, Bulk Price, Contractual Price, Producer / Distributor Price
  • Certifications and Compliance Requirements
  • Leading Export - Import Destinations
  • COVID-19 Impact on Demand for Industrial Fasteners and How to Navigate
  • Recommendation on Key Winning Strategies

Consumption Analysis of Industrial Fasteners from 2016 to 2020 Vs Future Market Outlook for 2021 to 2031

As per the industrial fasteners industry research carried out by Fact.MR, a market research and competitive intelligence company, from 2016 to 2020, market value increased at a CAGR of 2.1%. The U.S., China, Germany, France, and Italy have remained leading countries as far as demand for industrial fasteners is concerned.

The market for industrial fasteners is anticipated to rise at a moderate CAGR of close to 5% over the next 10 years, thanks to their increased use in automotive, power generation & transmission, and aerospace & defence.

  • With worldwide revenue down 2.5% year-over-year, industrial fastener demand experienced a dramatic fall in 2020. A ten-year compound annual growth rate (CAGR) of 5% is predicted for the sales of industrial fasteners for 2021-2031
  • According to Fact.MR, the worldwide industrial fasteners industry is expected to swell 1.6X by 2031.
  • Demand for fasteners used in power generation and transmission to increase at the highest CAGR of 5.6% among all other applications.
  • In 2020, tier-1 suppliers of industrial fasteners held a market share of 8-10%
  • Demand for steel industrial fasteners is predicted to rise at an impressive CAGR of 4.9% to reach 17,110 KT by 2031.
  • Reduction in number of construction and manufacturing activities in 2020 as compared to 2019 levels has cascaded the effect to demand for industrial fasteners as well. Most of the companies have felt the heat of losses over Q2 and Q3 of 2020.

What are the Restraints Being Faced by Industrial Fastener Manufacturers?

Goods are becoming sophisticated with the advent of novel technologies incorporated in products. This is necessitating manufacturing techniques that meet new structural requirements. Traditional assembly methods such as mechanical fasteners and welding are popular among manufacturers, but they aren't always the best option for modern assemblies. 

Mechanical fasteners, in particular, can be affected by rising prices, restricting material options, which may lead to metal distortion, fatigue, and even ripping at times. Materials having variable coefficients of thermal expansion, and compress and expand differently as temperature changes. During temperature fluctuations, mechanical fasteners do not allow connected materials to expand or contract without causing damage or bulging. 

Adhesives have the flexibility to tolerate movements caused by the thermal expansion of substrates even after they have fully dried. Using adhesives also avoids the need to drill holes in metal goods that may be coated or painted. Adhesives reduce thermal expansion damage and keep protective coatings on materials intact, increasing the life of the joints and the product.

This advantage has presented adhesives and tapes as a viable alternative to mechanical fasteners, and in the long run, it is expected to negatively affect the projected market growth of industrial fasteners.

Industrial fasteners market region by Fact.MR

Interested to Procure The Data

Country-wise Analysis

What Makes China One of the Most Important Markets for Manufacturers of Industrial Fasteners?

In 2020, China accounted for over 57% of East Asia industrial fastener consumption. This is because China is the largest producer and consumer of steel, accounting for over half of the world’s steel production, as of 2020. Additionally, majority of the top 10 construction companies are situated in China. 

China is also the world’s largest automobile manufacturer, and produces around 25 million units of vehicles every year. This, in turn, bodes well for industrial fasteners, which are consumed in exorbitant quantities for the manufacturing of vehicles.

Besides, China also produces over half of the world’s alumina, and a chunk of it goes into various manufacturing activities in end-use industries such as automobile, aerospace & defence, petrochemicals, and power generation & transmission, to satisfy local demand.

Additionally, China has been giving incentives to manufacturers for improving electric vehicle infrastructure in the country. Thereby, aluminium fasteners that are increasingly being adopted by manufacturers in place of steel fasteners are also getting an inevitable boost.

The country is set to experience heightened growth at a CAGR of 5.6% during the assessment timeframe, evaluates Fact.MR.

Why are Industrial Fastener Manufacturers Eyeing the United States?

The U.S has remained one of the prominent countries for industrial fastener sales, and is anticipated to account for above 81% of the North American market value. It is also expected to progress at a CAGR of 4.6% during the forecast period. This is because the U.S. remains one of the major contributors to automobile & defense manufacturing and power generation.

The U.S. has been the second-largest manufacturer of automobiles, second only to China, as of 2020 data published by Fact.MR in its electric vehicle market report. Additionally, many automobile manufacturers have set up base in the country to cater to the growing need for updated and newer automobiles with change in CAFE standards.

Moreover, the U.S. is the largest manufacturer of aircraft that use a plethora of industrial fasteners to manufacture sophisticated equipment as well as require the same fasteners during repair operations of older equipment.

Additionally, the U.S. has the largest defense budget, and its total defense spending amounted to US$ 714 Bn in FY 2020. It is further expected to increase to US$ 733 Bn during FY 2021. This would trickle down to industrial fastener sales as well, which are consumed during the manufacturing of sophisticated defence equipment in the country.

Owing to the above-mentioned factors, the U.S. is poised to remain the growth epicentre during the forecast period and create an absolute $ opportunity of around US$ 9.5 Bn during 2021-31.

How Has Industrial Fastener Demand Been Shaping across Established & Emerging Markets?

Germany: Demand for industrial fasteners in Germany has been rising especially from automobile, aerospace & defense, and construction industry applications. HILTI, one of the key manufacturers of industrial fasteners has bases setup in Germany to cater to customers across Europe. The country accounted for around 1,458 KT consumption in 2020.

Russia: Russia is one of the largest producers of crude oil across the globe, and the country is also known for high fuel consumption. Russia accounted for over 6.1% of European industrial fastener demand in 2020, and is expected to reach a market valuation of US$ 2.4 Bn by 2031-end.

France: France has remained one of the most important locations for industrial fasteners and is anticipated to account for almost 1/5 of European market value in 2021. This is due to the fact that, throughout the last decade, France has remained the second-largest exporter of aircraft and related aerospace equipment. Apart from aviation, France is home to a slew of automakers and has long been a major contributor to European automobile production.

India: The industrial fastener industry in India has been experiencing steady growth over the past 5 years, owing to rising urbanization and tremendous growth in the construction sector. Additionally, the country is experiencing enhanced demand for fasteners, especially from aerospace & defense, which is undergoing modernization and is poised keep sales increasing at a CAGR of 6.4% through 2031.

Category-wise Insights

Which Industrial Fastener is Enjoying the Most Popularity?

Stainless steel fastener demand is poised to grow at the highest growth rate of 5.5% during 2021-31, and create an absolute dollar opportunity of around US$ 7.3 Bn during the same period.

Without a doubt, stainless steel is the most popular fastener material. Stainless steel has several characteristics that make it a distinctive and long-lasting material. While stainless steel is the generic name for corrosion-resistant steel alloys, tiny modifications in the alloy's composition can radically alter the electrical and mechanical characteristics of the component.

Chromium, nickel, copper, tungsten, and molybdenum are some of the elements found in stainless steel alloys. The fact that stainless steel resists corrosion is undoubtedly the most appealing feature of the material.

Which Application Has the Highest Growth Potential in the Industrial Fastener Industry?

Power generation & transmission application is poised to remain the most attractive segment estimated to account for nearly 19.5% share in 2021.

As offshore projects need to be operational even underwater, they need to be highly corrosion-resistant, offer resistance to temperature changes, and have extended life of the operation in highly saline environments for prolonged durations. Besides, countries are continuously moving towards renewable power generation and relying on offshore wind turbines for power generation, which again demands fasteners for keeping the parts intact.

Additionally, upstream and downstream activities in oil extraction and drilling operations need reliable fasteners that offer operational flexibility in highly saline environments. Manufacturers are fully aware of this, and they are always innovating to introduce industrial fasteners that not only improve on existing structural features but also address issues with earlier products. Such actions keep the industry competitive and establish a foundation for future growth.

Owing to the aforementioned factors, demand from power generation and transmission is poised to increase at a high growth rate of 5.6% during 2021-31, and create an absolute dollar opportunity of around US$ 13.9 Bn during the same period.

Industrial fasteners market application by Fact.MR

Will Sales of Industrial Fasteners Gain Traction in Lieu of Demanding Marine Applications?

Marine application of industrial fasteners is poised to rise at a CAGR of 5.3% during the forecast period of 2021-2031.

Seawater-resistant fasteners are required for marine applications, and they are an integral part of any onshore or offshore machinery deployment. There are cryogenic fasteners and conventional bolts available for use in colder settings, such as in plate heat exchangers, LNG tanks, and cryogenic valves.

Professionals in the marine industry favour stainless steel fasteners because of their corrosion resistance characteristics in subsea saline conditions. Marine applications include thrusters, cleaning equipment, cable connectors, and other fastening mechanisms for seawater filter systems.

Stainless steels used in marine applications should include molybdenum in amounts more than 2%. Fasteners made of austenitic steel or duplex steel are recommended for long-term applications.

Because of the intense competition in a fragmented market, businesses are concentrating their efforts on the research & development of innovative solutions that are tailored to the needs of customers in the marine industry. 

How is the Demand from Oil & Gas and Petrochemical Industries Poised to Aid Market Growth?

Industrial fasteners are critical in positioning stationary parts on the location by assisting the proper operation of machinery. The petrochemical industry application for fasteners is poised to experience moderate CAGR of 3.6% through 2031.

Oil & gas has remained the backbone of major economies, powering their automobiles and power plants. Furthermore, oil is necessary for the production of various consumer end-products obtained through downstream processes.

The oil industry is divided into three segments: upstream, midstream, and downstream. Exploration and drilling are used to locate oil and remove it from the ground in the upstream phase. Midstream activities include transportation and storage, whereas, downstream activities include refinement and sale of the completed product. The most crucial action is upstream because everything else would not exist if oil hadn't been discovered.

This upstream activity necessitates the use of a variety of apparatus and techniques that are required for the extraction of oil from sea beds. These machines require industrial fasteners, particularly stainless steel fasteners because they operate underwater and must remain water-resistant while avoiding corrosion.

Steel and stainless steel fasteners are also used in a variety of high-pressure pumps and vessels used in the petrochemical industry's pumping stations where precision is crucial. 

How Has COVID-19 Impacted Revenue Generation from Industrial Fasteners?

As a result of COVID-19, the market for industrial fasteners declined by 2.5% in 2020. Economic uncertainty is projected to have a short-term negative impact on the market. Due to staffing scarcity and availability, automotive manufacturing facilities were also affected with enterprises either shutting down completely or severely reducing their capacity.

Moreover, oil & gas activities were also postponed, construction projects were cancelled, and manufacturing growth plummeted, which drastically impacted demand for industrial fasteners.

Competition landscape

To acquire access to untapped markets, top industrial fastener manufacturers are combining organic methods such as targeted product line extensions and geographic expansions. In addition, certain key players are employing inorganic tactics such as acquisitions to improve their existing portfolios, as well as consistent research spending.

  • LISI Aerospace collaborated with the University of Sheffield Advanced Manufacturing Research Centre and received US$ 1.34 Mn in funding from Aerospace Technology Institute to research on newer markets in the fastener industry through the usage of advanced technologies.
  • In June 2020, LISI Aerospace and Lockheed Martin signed a supply agreement for the F-35v program, with a total estimated value of US$ 60 Mn.
  • Stanley Black & Decker acquired Consolidated Aerospace Manufacturing LLC (CAM) added viable products for aerospace & defence end-users to its product portfolio.
  • Avantus Aerospace acquired Fastener Innovation Technology Corporation in 2020, to improve its overall product portfolio.
  • Moreover, Birmingham Fasteners announced the acquisition of Steel City Bolt in 2021, which would increase the company’s local manufacturing capabilities and help its customer with their fastener needs suited to diverse applications.

An Adaptive Approach to Modern-day Research Needs

Industrial Fasteners Market Report Scope



Forecast Period


Historical Data Available for


Market Analysis

KT for Volume and US$ Mn for Value

Key Regions Covered


  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • MEA

Key Market Segments Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • U.K.
  • France
  • Spain
  • Russia
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries
Key Market Segments Covered
  • Material
  • Type
  • Application
  • Sales Channel
  • Region

Key Companies Profiled


  • American Fastener Technologies Corporation
  • American Bolt & Screw
  • AF Fastener
  • Acument Global Technologies (Fontana Gruppo)
  • Birmingham Fastener
  • Delta Fastener Corp.
  • De Walt
  • Eurofast
  • Elgin Fastener Group
  • Extreme Bolt & Fastener
  • Ford Fasteners, Inc.
  • Impalabolt
  • ITW
  • Johns Manville
  • LISI Group
  • Midwest Fastener Corp
  • Ningbo Qunli Fastener Manufacture Co., Ltd.
  • Nobel Precision Metal Co., Ltd.
  • Ocean State Stainless, Inc.
  • PCC Fasteners
  • Penn Engineering & Manufacturing
  • Rahul Fasteners & Fittings
  • Raptor Nails & Staples
  • Reliable Polymer Industries
  • SA Bolt Manufacturers
  • Schaaf-GmbH
  • Shanghai Jianxin Hardware Co., Ltd.
  • Sure FAS
  • Sternly Black & Decker
  • Tianjin Fine Fasteners Co., Ltd
  • Vöhrs GmbH & Co. KG
  • Wilhelm Bollhoff GmbH & Co. KG

Available upon Request

Key Segments Covered in Industrial Fasteners Industry Research

  • By Material

    • Metal Industrial Fasteners
      • Steel Industrial Fasteners
      • Stainless Steel Industrial Fasteners
      • Alloy Steel Industrial Fasteners
      • Copper & its Alloys Industrial Fasteners
      • Aluminium Industrial Fasteners
      • Titanium Industrial Fasteners
      • Nickel & its Alloys Industrial Fasteners
      • Others
    • Polymer Industrial Fasteners
    • Industrial Plastic Fasteners
  • By Type

    • Screws
      • Wood Screws
      • Machine Screws
      • Thread Cutting Machine Screws
      • Sheet Metal Screws
      • Self-drilling
      • Socket Screws
      • Others
    • Nuts
      • Hexagon Nuts
      • Flange Nuts
      • Wing Nuts
      • Kep Nuts
      • Push Nuts
      • Castle Nuts
      • Coupling Nuts
      • Pal Nuts
      • Others
    • Bolts
      • Track Bolts
      • Square Bolts
      • Plow Bolts
      • Round Bolts
      • Lag Bolts
      • Aircraft Bolts
      • J-bolts
      • U Bolts
      • Shoulder Bolts
      • Elevator Bolts
      • HR Bolts
      • HV Bolts
      • Others
    • Washers
      • Lock Washers
      • Structural Washers
      • Others
    • Anchors
    • Dowel Pins
  • By Application

    • Chemical Grade Industrial Fasteners
      • Industrial Fasteners for Heat Exchangers
      • Industrial Fasteners for Exhaust Systems
      • Industrial Fasteners for Tanks and Vessels
      • Industrial Fasteners for Processing Equipment
    • Petrochemical Grade Industrial Fasteners
      • Industrial Fasteners for High Pressure Pumps & Vessels
      • Industrial Fasteners for Pumping Stations
      • Industrial Fasteners for Metering Pumps
      • Others
    • Transportation Grade Industrial Fasteners
      • Industrial Fasteners for Railways
        • Trains
        • Infrastructure
      • Industrial Fasteners for Marine
        • Decks
        • Tanks
        • Ramps
        • Bulkheads
        • Others
      • Industrial Fasteners for Automotive
    • Power Generation & Transmission Grade Industrial Fasteners
      • Renewable
        • Onshore
          • Electrical Equipment
          • Turbines
          • Motors
          • Exhaust Systems
          • Pumping Systems
          • Storage Vessels
        • Offshore
      • Non-renewable
    • Construction Grade Industrial Fasteners
      • Industrial Fasteners for Heavy-duty Machines
      • Industrial Fasteners for Construction Vehicles
    • Mining Grade Industrial Fasteners
      • Industrial Fasteners for Precious Metal Mining
      • Industrial Fasteners for Industrial Metal Mining
    • Agriculture Grade Industrial Fasteners
    • Defense Aerospace Grade Industrial Fasteners
    • Others
  • By Sales Channel

    • Online Sales of Industrial Fasteners
      • Direct to Customer Sales of Industrial Fasteners
      • Third-party Online Sales of Industrial Fasteners
    • Offline Sales of Industrial Fasteners
      • Authorized Distributors of Industrial Fasteners
      • Industrial Fasteners Sold at Garages & Workshops
      • Industrial Fasteners Sold at Specialty Stores

- FAQs -

The global industrial fasteners market is valuated at more than US$ 98.

Sales of industrial fasteners are anticipated to increase at a CAGR of over 5% during 2021 – 2031.

Value sales of industrial fasteners increased at a CAGR of 2.1% during 2016 – 2020.

Manufacturers have started to produce innovative fasteners to cater to demanding marine applications.

According to ratings on the basis of market share, market reach, clientele, etc., the top 6 manufacturers of industrial fasteners account for around 8-10% share in the market.

Top 5 countries driving demand for industrial fasteners are the U.S., Germany, China, India, and France.

North America is estimated to account for over 20% of global industrial fastener demand.

The European market for industrial fasteners is projected to expand at a CAGR of more than 5% during 2021 – 2031.

The China, United States, Germany, and France are key producers of industrial fasteners.

The market in South Korea and Japan will expand at 4.8% and 5.4% CAGRs, respectively, with both countries together accounting for 42% share in the East Asia market.

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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

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