The Global Market for Industrial Fasteners is Projected to Reach US$83.8 Billion by 2020

Reviving Global Economy & Growth in the Manufacturing Sector Drive the Industrial Fasteners Market, According to a New Report by Global Industry Analysts, Inc.

GIA launches comprehensive analysis of industry segments, trends, growth drivers, market share, size and demand forecasts on the global Industrial Fasteners market. The global market for Industrial Fasteners is projected to reach US$83.8 billion by 2020, driven by the improvement in the global economy, as well as reviving automotive and manufacturing sectors.

As indispensable components in manufacturing, fasteners are designed to hold together components within equipment and prevent the structure from disassembling. Over the years, fasteners have transformed into multi-purpose highly engineered components used in automotive, aerospace and other industrial applications such as manufacturing. Mechanical fastening devices such as bolt, nut, screw, rivet or nail, that affix or join together two or more objects, are of high significance as they are the critical components that define the integrity and longevity of structures. The global market for industrial fasteners is forecast to witness the revival of motor vehicle end-use sector, and an increased demand emanating from it. Other factors forecast to fuel growth in the industrial fasteners sector include growing demand from developing regions as well as above average growth in construction, electronic and electricals, and more importantly from the aerospace sectors.

A deceptively simple looking device, a fastener in reality is a complex mechanical tool which requires significant R&D to analyze axial and bending cyclic load conditions and design robust products with lower susceptibility to fatigue failure. The market is therefore poised to benefit from technological developments that help improve fatigue strength of fasteners. Market for fasteners is also set to benefit from improvements in the global economy. Miniaturization of devices have spurred the advent of microfasteners, while there is also increasing use of innovative threaded and plastic fasteners. The automotive industry is a key end-use sector with rise in vehicle recalls due to fastener failure fuels emphasis on quality. The aerospace industry is a strong end-use sector with technology advancements and healthy outlook for commercial airline industry promoting aircraft production, thereby adding to fastener demand. Demand for industrial fasteners is also set to be driven by other end-use sectors such as construction, domestic appliances, as well as mechanical engineering.

In order to benefit from the growing preference for advanced lightweight fasteners, conventional fastener makers have begun to expand portfolios to include plastic fasteners, especially Nylon Fasteners, which 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. Unlike metal fasteners which are heat treated and cold worked, plastic fasteners are manufactured through a process called injection molding. Technology developments have imparted plastics performance features on par with metals i.e. material toughness, corrosion resistance, and heat resistance. Corrosion resistance even when exposed to moisture is regarded as a major benefit of plastic fasteners over metal fasteners. Also driving the use of plastic fasteners are the stringent fuel efficiency norms legislated by governments worldwide. Automotive manufacturing is currently evolving in order to comply with the growing concept of lightweighting of vehicles in order to reduce emissions and improve fuel efficiency.

As stated by the new market research report on Industrial Fasteners, Asia-Pacific represents the largest market worldwide. The Asian market is set to be prompted by the anticipated rise in investments across various sectors such as defense, infrastructure, and aerospace mainly by the governments of China, Malaysia, South Korea and India. Additionally, expanding investments in the manufacturing sector in these countries is also anticipated to drive growth in the upcoming years. The United States is the single largest market for industrial fasteners. With reshoring likely to be a major trend in the US manufacturing sector in the coming years, the market is likely to record positive growth over the review period. ‘Bolts’ is the largest product segment while the ‘automotive’ sector represents the largest end-user for industrial fasteners.  

Major players covered in the report include Acument Global Technologies, Inc., Alcoa Fastening Systems, Bulten AB, Earnest Machine Product Company, Federal Screw Works, Gem-Year Industrial Co., Ltd., Illinois Tool Works Inc., Infasco, KAMAX Holding GmbH & Co. KG, LISI Group, LISI Automotive, LISI Aerospace S.A.S, MacLean-Fogg Company, MacLean-Fogg Component Solutions, MNP Corp., Nitto Seiko Co., Ltd., Nucor Corp., Precision Castparts Corp., SPS Technologies LLC, Stanley Engineered Fastening, Sundram Fasteners Limited, Marmon Holdings Inc., Atlas Bolt & Screw Company LLC, TR Fastenings, Whitesell Group, Wilhelm Böllhoff GmbH & Co. KG, and ZF TRW among others.

The research report titled “Industrial Fasteners: A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, growth drivers, product innovations and strategic industry activities of major companies worldwide. The report provides market estimates and projections of sales in US$ Millions for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia, and Rest of Europe), Asia-Pacific (China, India, South Korea, Taiwan, and Rest of Asia-Pacific), Latin America (Brazil and Rest of Latin America), and Rest of World. The global and regional markets for Industrial Fasteners are analyzed by the segments Bolts, Nuts, Screws, Rivets/Washers, and Other Fasteners. The report also analyzes the market by end-use sectors – Automotive, Aerospace, Construction, Mechanical Engineering, and Other Sectors.

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