The global demand of aluminium industrial fasteners market has reached a valuation of US$ 102.8 billion in 2022 and is forecasted to progress at a steady CAGR of 5.1% to reach US$ 168.7 billion by the end of 2032.
Revenue from the sales of industrial fasteners accounted for 72% share of the global fasteners market at the end of 2021.
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To create specifically adapted vehicle fasteners, several automakers are collaborating with coating and fastener producers.
For instance, Greeknote, a leading manufacturer of anti-corrosion coatings, has created G5K, which provides coating performance for at least 5,000 hours and eliminates the issue of hydrogen embrittlement on fasteners.
The automotive industry has experienced steady demand from emerging markets. Large oil & gas producing nations such as Russia and the U.S. have been constantly undertaking the cyclical maintenance of their refineries to produce highly marketable oil & gas products.
Short Term (2022 Q2 to 2025): Growing transportation, power generation, and automobile industries will positively impact industrial fasteners market growth.
Medium Term (2025-2028): China and the U.S. are projected to witness comparatively higher demand for industrial fasteners due to their large construction and automobile industries.
Long Term (2028-2032): Automation, as a result of Industry 4.0, will lead to some modifications in fasteners so that they can be adapted to end-use industries. Upgraded features such as compact size, vast work envelopes, high speed, accuracy.
From 2017 to 2021, the global market for industrial fasteners registered a CAGR of 2.1%. Fact.MR, a market research and competitive intelligence provider, predicts that the market will exhibit growth at 5.1% CAGR between 2022 and 2032.
Key Takeaways from Market Study
The global industrial fasteners market is projected to grow 1.6X and reach US$ 168.7 billion by 2032.
Between 2017 and 2021, the market exhibited 2.1% CAGR.
Under product type, bolts dominate the market with US$ 20.1 billion valuation in 2022.
The transportation segment is currently valued at US$ 23.1 billion.
Europe leads the global market with 26.9% share in 2021.
Leading market players are constantly channelizing their resources to develop automated and smart industrial fasteners to pave the way for higher sales across end-use sectors. Companies are setting up integrated sales channels to limit the number of stakeholders across the supply chain and generate higher profit margins.
In 2020, Stanley Black and Decker partnered with OEMs and many other suppliers to enhance the supply chain of its products.
In June 2021, Greeknote, a leading manufacturer of anti-corrosion coatings, introduced advanced G5K, which provides coating performance for at least 5,000 hours.
Fact.MR has provided detailed information about the price points of key manufacturers of industrial fasteners positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
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.
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Segmentation of Industrial Fasteners Industry Research
By Material :
Metal
Steel
Stainless Steel
Alloy Steel
Copper & its Alloys
Aluminum
Titanium
Nickel & its Alloys
Others
Polymer
By Type :
Screws
Wood Screws
Machine Screws
Thread Cutting Machine Screws
Sheet Metal Screws
Self-Drilling
Socket Screws
Others
Key Questions Covered in the Industrial Fasteners Market Report
What is the projected value of the Industrial Fasteners factors Industry in 2022?
At what rate will the global Industrial Fasteners factors market size grow until 2032?
Which are the factors hampering the growth of Industrial Fasteners factors?
Which region is expected to lead in the global Industrial Fasteners factors market By 2032?
Which are the factors driving the Industrial Fasteners factors Industry during the forecast period?
What is the expected market value of the Industrial Fasteners factors market during the forecast period?
Regional Analysis For Industrial Fasteners Market:
APAC (Japan, China, South Korea, Australia, India, and the rest of APAC; the rest of APAC is further segmented into Malaysia, Singapore, Indonesia, Thailand, New Zealand, Vietnam, and Sri Lanka)
Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe; Rest of Europe is further segmented into Belgium, Denmark, Austria, Norway, Sweden, Netherlands, Poland, Czech Republic, Slovakia, Hungary, and Romania)
North America (USA, Canada and Mexico)
South America (Brazil, Chile, Argentina, Rest of South America)
MEA (Saudi Arabia, United Arab Emirates, South Africa)
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