The Global Industrial Fasteners Market Size Was Valued At USD 79.54 Billion In 2021. The Market Is Projected To Grow From USD 82.56 Billion In 2022 To USD 110.91 Billion By 2030, Exhibiting A CAGR Of 4.3% During The Forecast Period.

Industrial Fasteners Market Overview:

The global COVID-19 pandemic has been unprecedented and shocking. Demand for products is lower than expected in all regions compared to levels before the pandemic. Based on our research, the global market was 6.76% smaller in 2020 than it was in 2019.

Industrial fasteners are usually high-quality products that are used to hold things together in the construction, automotive, aerospace, and marine industries. Due to economic growth and high investment spending, more machinery, cars, and other long-lasting goods are likely to help the market grow as a whole. In the near future, the industry will grow because more people will need bolts, nuts, screws, rivets, nails, washers, studs, and so on. India, China, Thailand, and Vietnam are becoming more industrialized quickly, which may help the market grow.

Market Dynamics:

Latest Trends:

Manufacturers are using less energy, and reorganising production may give the industry a lot of new chances.

Companies are trying to reduce their carbon footprint and harm to the environment by using less energy for electricity and heat. For example, in March 2020, BUMAX, a Swedish company that makes high-strength stainless steel fasteners, said that it would cut its energy use by 50% at its Ashammar facility. This energy is used for electricity and heating. This will cut carbon emissions by a lot and make BUMAX's production even more efficient. Since 2011, the company has cut the amount of carbon dioxide that its 12,000-square-meter building gives off because of the heat by 62%.

Driving Factors:

The growth of the building and construction industry is what is pushing the growth of the industrial fasteners market.

The construction market will grow because there is more demand for commercial and residential housing projects and the government is spending more money on infrastructure. They are used in construction to join two or more things together in a way that doesn't last forever. Building and construction fasteners are used to join heavy-duty materials together. This is because the building and construction industry needs strength and accuracy. Different kinds of fasteners used in the building industry are made of stainless steel, alloy steel, and carbon steel. Nuts, bolts, washers, screws, and rivets are all common types of building materials. For each infrastructure project to be safe and strong, different types of fastening products are needed. Carbon steel is used to make most things because it is inexpensive, strong, and easy to work with. Stainless steel, on the other hand, is the most popular building material because it can withstand heat, corrosion, and strength, which increases the demand for industrial fasteners.

Plastic fasteners are used in building and construction because they are stronger than other types. Corrosion-resistant properties will lead to a lot of money being spent on developing new products to meet the demand for the product. During the forecast period, the industry will grow in the interiors and cable management applications because more and more people care about how their homes and businesses look.

Demand from the aerospace industry will help the market grow.

Nuts, bolts, rivets, screws, cables, washers, and guides are all parts of aircraft structural hardware that are used to build planes. The aerospace fasteners market is mostly driven by the fact that technology is changing quickly, the defence industry is spending more on research and development, and the ability to make commercial planes is growing. More planes and more people travelling around the world will eventually lead to more demand for the products. Aerospace companies focus on regional growth because there is a high demand for planes, and they work with OEMs to grow their businesses.

Titanium fasteners are mostly used in the body of an aeroplane because they can handle heat, are light, and work well in harsh climates. Also, superalloys are good for making aircraft engines, landing gear, and superchargers because they can be used in many ways and don't wear down easily.

Restraining Factors:

Coming up with alternatives could slow market growth.

If metal fasteners are used more often in place of tapes, adhesives, and bonding, this could slow the growth of the market. The main thing that hurts the automotive fasteners market is the rise of alternatives like welding and clinching. Changes in car sales and changes in the economy could slow the growth of the industry as a whole. Most companies that make fastening products for cars are having a hard time right now. Because the process of making them is hard, the manufacturers have to follow some rules and restrictions. But the growing number of OEMs and aftermarket sales will even things out and open up new paths for the industry as a whole.

Segmentation Analysis:

By Material Analysis:

The market is divided into metal and plastic based on material.

In the next few years, the metal segment may have the biggest share of the market as a whole. There are two kinds of fasteners. Some, like nuts and bolts, screws, rivets, clamps, and retaining rings, make a permanent bond. The other kind needs a sliding adhesive or non-permanent fastening products that can be undone, like quick-release clamps and couplers that are designed to take out certain pins and let fastened parts move relative to each other. Whether they are made by casting or powder metallurgy, the metal products should be strong enough to hold up under heavy loads.

Metals give construction equipment and industrial machinery better resistance and mechanical strength, which is likely to drive market demand. Companies offer their end-use customers a wide range of metal and plastic products to help them move up the value chain and improve their skills. For example, Auto-Fasteners Ltd offers automotive OEMs a flexible and cost-effective way to get the products they need. The company sells metal fasteners made of steel, stainless steel, aluminium, carbon steel, brass, copper, and mild steel. Also, the company sells plastic fasteners made of polypropylene, PVC, polyurethane, polyethylene, polystyrene, and polyamide.

By Product Analysis:

Industrial fasteners can be externally threaded, internally threaded, not threaded, or aerospace grade, depending on product.

The externally threaded segment is expected to lead the market because the number of cars being made is going up. Studs have threads on the outside, and aerospace applications prefer them over bolts because they are stronger.

Internally threaded may see big gains because the construction, automotive, and industrial machinery industries are using more of them. Stainless steel is a common material for making products with threads on the inside. Other raw materials that are used to make these products are aluminium, brass, and alloy steel.

Up until 2028, the aerospace grade market could see big gains. Aerospace fastening products are used in the building and putting together of planes. They are mostly used to connect the different parts of an airplane's structure, which are made in different places. OEMs like Embraer, Boeing, Bombardier, and Airbus are making more planes so they can keep up with the growing demand for new planes.

By Application Analysis:

Based on application, the market is divided into automotive, aerospace, building and construction, industrial machinery, home appliances, lawns and gardens, motors and pumps, furniture, and others.

The automotive segment was the most important part of the market, and it may stay that way for the next few years. Fasteners for cars and factories are most often made of stainless steel, iron, nickel, aluminium, plastic, and brass. The main things that are driving the market size are an increase in vehicle production, a rise in the use of electronics in vehicles, and a shift in focus towards lighter vehicles. Also, manufacturers are moving away from making standard products and towards making customised ones, which is likely to help the market grow.

Most car companies are focusing on using aluminium and plastic fasteners, which will make cars lighter. The demand for passenger cars is growing because of a rise in disposable income and a rise in the number of people who want lighter industrial fasteners, as well as because of government rules about reducing emissions and saving fuel.

Nuts and screws for furniture are made to be used with wood that has been treated. These items are used to put together different kinds of wood panels, like particleboard and plywood. The nuts, screws, bolts, and clips that are used to hold furniture together are easy to take off and put back on. This makes it easier to move the table when nuts, screws, bolts, and clips are used. Most of the time, these are used to fix handles, sides, doors, and drawers.

Regional Insights:

China, India, Japan, and South Korea drive the Asia-Pacific market, which is expected to grow at a good rate over the next few years. When the government puts money into commercial and residential building projects, the market in the area will grow. China made most of the plastic fasteners in the world because it has both large and small manufacturers. The region's product demand will be fueled by the demand for newer planes, which will lead to more deliveries and order facilities. Asia-Pacific is a major centre for companies that make aerospace fasteners and sell them to aerospace OEMs in North America and Europe.

During the time frame of the forecast, the North American market may grow at a fast rate. Electric vehicles are becoming more popular in the U.S., and plastic fastening products are becoming more important in the automotive industry. This will help the regional industry grow. The North American market share will be driven by companies like Bombardier in Canada, Textron in the United States, and Boeing in the United States. Also, the market for industrial fasteners will be driven by improvements in advanced manufacturing technologies and more money spent on research and development.

Europe has the second-largest share of the market because there is a lot of demand for small tractors and lawnmowers there, and this demand is likely to grow in both the commercial and residential sectors. This market share in this area will be driven by the production of lawn and garden tools. Europe is also a major place where passenger vehicles are made, which will help the industrial fasteners market grow even more.

In Brazil, the government has taken steps to build buildings, which has made more people want to buy products. Industrial fasteners will be even more in demand as the number of building and construction projects in the country goes up. Rapid growth in South Africa, Saudi Arabia, and other countries will help the aerospace, automotive, and industrial machinery industries grow quickly. This will help the market grow. Local wholesalers, distributors, and manufacturers of both imported and locally made products make up the industry, which is likely to help the market grow as a whole.

Scope Analysis

Recent Development:

• April 2022 - Birmingham Fastener announced the acquisition of Champion Sales and Manufacturing, Inc. This acquisition strengthens Birmingham Fastener's water supply product offering and manufacturing diversity.
• September 2021 - LINC Systems, LLC, the industrial fasteners and industrial packaging distribution platform of Center Rock Capital Partners, announced the acquisition of Air-O Fasteners. The acquisition will strengthen the company's presence in the western United States.
• January 2021 - LISI Aerospace has extended its contract with The Boeing Company. Under the agreement, LISI Aerospace will continue to provide close to 6,000 part numbers to support all Boeing commercial programs.
• September 2020 - Avantus Aerospace, a manufacturer of C-Class and composite components for the defense and aerospace industries, acquired Fastener Innovation Technology Corporation (FIT) of Rancho Dominguez, California. This will strengthen the company's aerospace and defense business.
• February 2020 - TriMas entered into a strategic partnership with Airbus, France, adding a newly certified fastener product. The growth of Airbus' business supports TriMas Aerospace's strategy to expand its global customer base in commercial and defense aerospace applications.

Market Segmentation

By Material:

• Metal
• Plastic
• Others

By Product:

• Internally Threaded
• Externally Threaded
• Non-Threaded
• Aerospace Grade
• Others

By Application:

• Automotive
• Aerospace
• Building & Construction
• Industrial Machinery
• Home Appliances
• Lawns & Gardens
• Motors & Pumps
• Furniture
• Others

By Companies:

• Howmet Aerospace Inc. (U.S.)
• ATF Inc. (U.S.)
• Nifco Inc. (Japan)
• MW Industries, Inc. (MWI) (U.S.)
• LISI Group - Link Solutions for Industry (France)
• Sesco Industries, Inc. (U.S.)
• Birmingham Fastener and Supply Inc. (U.S.)
• BPF (India)
• Elgin Fastener Group (U.S.)
• Eastwood Manufacturing (U.S.)
• Others