Industrial Fasteners Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031

Published on : Mar-2021 | List of Tables : 84 | List of Figures : 112 | No. of Pages : 170 | Report Code : FACT5679MR |

About the Report

The industrial fasteners market is predicted to expand at over 4% CAGR during the forecast period of 2021 to 2031, while the demand graph for threaded and plastic industrial fasteners is set to spiral upwards. According to this new report by Fact.MR, highly potential regions such as North America, Europe, Asia Pacific, and Latin America will take the spotlight for stakeholders, while 20+ countries will remain lucrative markets throughout the forecast period. The report also focuses on key driving and restraining factors while providing detailed insights on new trends. It also takes into account the impact of COVID-19 on the manufacturing industry in general, and industrial fasteners in particular.

Historical Vs. Future Outlook on Industrial Fastener Sales

Demand for various industrial fasteners such as cable ties, rivets, screws, and bolts has increased in the past years owing to steady demand from diverse end-use sectors. While the outbreak of COVID-19 affected industry growth temporarily in 2020, with the commencement of vaccinations and adoption of the new normal, the automotive, building & construction, and other key end-user sectors have started getting back on their feet since the last quarter of the year. As such, overall industry outlook has remained positive during the last 5 years from 2016 to 2020.

With manufacturers of industrial fasteners incorporating advanced technologies and making heavy investments in various research & development (R&D) activities, the industry is projected to expand further over the coming years. As the requirement for plastic and metal threaded, non-threaded, and aerospace grade industrial fasteners is expected to rise substantially, key players are forecast to come across lucrative growth scope during the forecast period of 2021 to 2031.

How is Application in the Automotive Sector Favoring Industrial Fastener Suppliers?

Industrial fasteners are highly sought-after in the automotive sector in order to provide proper, reliable tightening and joining solutions for various automotive parts. According to a report titled “Automotive Industry Spotlight”, published by SelectUSA, the United States has one of the largest automotive industries in the world, with light vehicle sales reaching 17.2 million units in 2018.

As stated in the report, almost every major European, Japanese, and Korean automaker has produced vehicles and invested more than US$ 75 billion in the United States. Though the automotive sector got battered due to the pandemic outbreak, these figures signify its high potential to excel further getting over the constraints. This, in turn, is expected to pave new paths for industrial fastener suppliers around the world.

What are the Key Challenges Faced by Industrial Fastener Manufacturers?

Manufacturers often face challenges due to a few disadvantages of industrial fasteners, such as-

  • They require holes, which weaken the components
  • Leave visible bond lines
  • Add extra weight
  • Carrying load at specific points often cause fatigue

As a result, end users often face difficulties in opting for industrial fasteners. However, continuous efforts being put in by manufacturers in minimizing these shortcomings are expected to aid the progress of the industry in the foreseeable future.

industrial fasteners market

Country-Wise Analysis

Will the United States Remain at the Forefront of North America’s Industrial Fasteners Industry?

The United States is leading in the world’s largest industrial fasteners industry - North America, and likely to exhibit hegemony during the forecast period. Fast and steady recovery of the automotive industry and growing adoption of industrial fasteners in commercial & residential construction projects are anticipated to raise the revenue of suppliers in the country.

According to a report titled “Automotive Industry: Employment, Earnings, and Hours”, published by the United States Bureau of Labor Statistics, the U.S. automotive industry holds high potential, while the number of employees in thousand in manufacturing, retail trade, and automobile dealer sectors were 986.2, 2,043.5, and 1,313.9, respectively, as in February 2020. Despite these values getting temporarily declined in 2020, the industry is recovering fast, which, in turn, is expected to create new opportunities for industrial fastener suppliers in the U.S.

What’s Drawing Stakeholders towards Germany?

Germany has been in the dominant position in the world’s second-largest industrial fasteners industry – Europe, since the past decade. Owing to its highly advanced automotive sector and rise in the number of construction & building projects after overcoming hurdles due to the pandemic, Germany is a heavyweight for industrial fastener suppliers.

As stated in a report published by the European Commission (EC), production in Germany’s construction sector grew 10.4% during 2010-2016, while the number of companies in the broad construction sector grew 21.2% through 2016. Despite COVID-19 putting a standstill to the growth in this sector temporarily, the industry is in a recovery phase and is expected to account for higher sales of industrial fasteners over the coming years.

How Lucrative are the Opportunities in China for Industrial Fastener Suppliers?

China, being the epicenter of the world’s fastest-growing industrial fasteners industry - Asia Pacific, is a hotspot for potential players and expected to register substantial growth over the coming years. Prominent demand from the construction, automotive, and home appliance sectors is boosting sales of industrial fasteners in China.

As per a report titled “China- Automotive Industry”, published by the China Country Commercial Guide of the Privacy Shield Framework, China is the world’s largest vehicle market, while the Government of China expects that automobile output will reach 35 million by 2025. This will create unlimited opportunities for stakeholders in China’s industrial fasteners industry in the years to come.

What’s Driving Sales of Industrial Fasteners in India?

India has emerged as a lucrative country in terms of demand, sales, and production of industrial fasteners, and is expected to grow further through 2031. Abundance of raw materials and labor, and high demand from the construction sector are fuelling sales in India.

According to a report published by Invest India, the National Investment Promotion & Facilitation Agency of India, India real estate drew US$ 5 billion institutional investments, while by 2025, the construction industry in India is expected to grow on average 7.1% each year.  As stated in the report, 100% Foreign Direct Investment (FDI) is permitted in completed projects and management of various construction segments. These are expected to widen the growth scope for industrial fastener manufacturers in India.

Category-Wise Insights

Which Material is Highly Preferred for Industrial Fastener Manufacturing?

Presently, plastic is gaining traction in terms of material for industrial fasteners. According to Fact.MR, this segment will gain further popularity owing to its various advantages, such as-

  • Light-weighted
  • Cost-effective
  • Flexible in terms of usage
  • Free from the drawbacks due to rusting

Metal is another highly preferred material for industrial fastener manufacturers, and is expected to further cater to the growth of industry players.

Why are Threaded Industrial Fasteners Popular?

Presently, threaded industrial fasteners have high market value owing to the following factors-

  • Require shorter labor times
  • More affordable
  • Weighs less
  • Cold working enables higher resistance to damage

As a result, manufacturers are adopting this type of product to target diverse end-use sectors. According to Fact.MR, non-threaded and aerospace grade industrial fasteners are expected to further fuel the sales of suppliers through 2031.

Which End Use Sectors Account for High Sales of Industrial Fasteners?

Presently, automotive and building & construction industries have high demand for industrial fasteners, and hence, significantly account for raising the revenue for manufacturers. Industrial fasteners play a vital part in these end-use industries, such as-

  • Connect various part in permanent & semi-permanent ways
  • Extensively used in joining machinery and automotive parts
  • Highly used in parts that need to be dismantled or disassembled

Other key end-use segments are aerospace, home appliances, and other industrial sectors, which are aiding the growth of suppliers across regions.

Competitive Landscape

The global industrial fasteners market is strictly competitive in nature. In order to secure their positions, key players are launching broader ranges of cost-effective products with wider variety.

For instance,

  • Penn Engineering & Manufacturing Cooperation launched its new PEM® Fasteners, ATLAS® Blind Threaded Rivets, and others, during the last 5 years.
  • Sony India Private Limited launched its new Sony Hardware Nuts and Bolt and other industrial fastening solutions, a couple of years back.

Some of the key players supplying industrial fasteners are-

  • MW Industries Inc.
  • Stanley Black & Decker, Inc.
  • Penn Engineering & Manufacturing Cooperation
  • BPL Limited
  • Mirc Electronics Limited
  • Sony India Private L

*The list is not exhaustive, and only for representational purposes. Full competitive intelligence with SWOT analysis available in the report

Report Scope

Attribute

Details

Forecast Period

2021-2031

Historical Data Available for

2016-2020

Market Analysis

USD Million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • South Asia
  • East Asia
  • Middle East & Africa, and Oceania

Key Countries Covered

  • US
  • Canada
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Poland
  • Russia
  • China
  • Japan
  • South Korea
  • India
  • Thailand
  • Malaysia
  • Vietnam
  • Indonesia
  • Australia
  • New Zealand
  • GCC Countries
  • Turkey
  • Northern Africa
  • South Africa

Key Segments Covered

  • Material
  • Product Type
  • End User
  • Region

Key Companies Profiled

  • MW Industries Inc.
  • Stanley Black & Decker, Inc.
  • Penn Engineering & Manufacturing Cooperation
  • BPL Limited
  • Mirc Electronics Limited
  • Sony India Private L

Report Coverage

  • Market Forecasts
  • Brand Share Analysis
  • Competition Intelligence
  • DROT Analysis
  • Market Dynamics and Challenges,
  • Strategic Growth Initiatives

Customization & Pricing

Available upon Request

Market Segmentation by Category

  • Material
    • Plastic
    • Metal
  • Product Type
    • Threaded
    • Non-threaded
    • Aerospace Grade
  • End User
    • Automotive
    • Building & Construction
    • Home Appliances
    • Aerospace
    • Others
  • Region
    • North America
    • Latin America
    • Europe
    • Middle East and Africa (MEA)
    • East Asia
    • South Asia
    • Oceania

Key Questions Answered in Report

  • Which are the top companies providing industrial fasteners?

    Some of the top companies manufacturing industrial fasteners are MW Industries Inc., Penn Engineering & Manufacturing Cooperation, Stanley Black & Decker, Inc., and BPL Limited.

  • Which are some of the lucrative markets for industrial fasteners?

    The United States, Germany, the United Kingdom, India, Japan, China, Canada, France, Italy, and a few others are lucrative markets for industrial fasteners, and are expected to dominate throughout the forecast period.

  • Which end users account for high sales of industrial fasteners?

    Presently, the automotive and building & construction sectors are the most lucrative in terms of end user, and are expected to remain dominant over the forecast period of 2021 to 2031.

  • Which material witnesses high demand for industrial fastener production?

    Presently, plastic has high demand for industrial fasteners, and is predicted to sustain its position throughout the forecast period.

  • Which product type is highly sought-after in the industrial fasteners market?

    Currently, threaded industrial fasteners are highly sought-after and are projected to secure their position through 2031.

Enquiry before Buying

  • Is this research conducted by Fact.MR?

    Yes, the research has been conducted 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.

  • What research methodology is followed by Fact.MR?

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

  • Who are the respondents for primary research?

    Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

  • What are the sources of secondary research?

    Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request. 

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Industrial Fasteners Market - Scope of Report

A recent study by Fact.MR on the industrial fasteners market offers a 10-year forecast from 2021 to 2031. The study analyzes crucial trends that are currently determining market growth. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders and emerging players associated with industrial fasteners. The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period.

A detailed assessment of the value chain analysis, business execution, and supply chain analysis across regional markets has been covered in the report. A list of prominent companies operating in the industrial fasteners market, along with their product portfolios, enhances the reliability of this comprehensive research study.

Report Summary

The study offers comprehensive analysis on diverse features, including demand, product development, revenue generation, and sales of industrial fasteners across regions.

A comprehensive estimate on the market has been provided through an optimistic as well as a conservative scenario, taking into account sales during the forecast period. Price point comparison by region with global average price is also considered in the study.

Market Segmentation

Fact.MR’s research study assesses the global industrial fasteners market in terms of material, product type, end user, and region. This report presents extensive market dynamics and trends associated with different segments of the market, and their influence on the growth prospects of the market.

Material

  • Plastic
  • Metal

Product Type

  • Threaded
  • Non-threaded
  • Aerospace Grade

End User

  • Automotive
  • Building & Construction
  • Home Appliances
  • Aerospace
  • Others

Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia
  • Oceania
  • Middle East & Africa (MEA)

Key Questions Answered in Report

  • Which are the most lucrative markets for industrial fasteners?
  • Which factors will impact demand for industrial fasteners?
  • How will changing trends impact the strategies of market players?
  • How can market players capture the low-hanging opportunities across regions?
  • Which companies are leading the industrial fasteners market?
  • What are the winning strategies of stakeholders in the industrial fasteners landscape?

Inspected Assessment on Regional Segments

Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic, and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.

Country-specific valuation on demand for industrial fasteners has been offered for each regional market, along with market scope estimates and forecasts, price index, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.

Detailed breakup in terms of value for emerging countries has also been included in the report.

Research Methodology

In Fact.MR’s study, a unique research methodology is utilized to conduct extensive research on the growth of the industrial fasteners market, and reach conclusions on the future growth parameters of the market. This research methodology is a combination of primary and secondary research, which helps analysts ensure the accuracy and reliability of the drawn conclusions.

Secondary resources referred to by analysts during the preparation of the market study include statistics from governmental organizations, trade journals, white papers, and internal and external proprietary databases. Analysts have interviewed senior managers, product portfolio managers, CEOs, VPs, marketing/product managers, and market intelligence managers, all of whom have contributed to the development of the research report as a primary resource.

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Industrial Fasteners Market, Forecast, Trend, Analysis & Competition Tracking - Global Market Insights 2021 to 2031