Industrial Fasteners Market 2023–By Identifying the Key Market Segments Poised for Strong Growth in Future 2018

Summary:
Latest Research Report on Global Industrial Fasteners Market Added by Garner Insights which covers Market Overview, Future Economic Impact, Competition by Manufacturers, Supply (Production), & Consumption Analysis

A fastener is a hardware device that mechanically joins or affixes two or more objects together. In general, fasteners are used to create non-permanent joints; that is, joints that can be removed or dismantled without damaging the joining components. Welding is an example of creating permanent joints.

Fasteners can also be used to close a container such as a bag, a box, or an envelope; or they may involve keeping together the sides of an opening of flexible material, attaching a lid to a container, etc. There are also special-purpose closing devices, e.g. a bread clip.

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Some types of woodworking joints make use of separate internal reinforcements, such as dowels or biscuits, which in a sense can be considered fasteners within the scope of the joint system, although on their own they are not general purpose fasteners.

With the development of technology and the down trend of raw materials-steel, the global average price of industrial fasteners is in the decreasing trend, from 2359 USD/MT in 2013 to 2141 USD/MT in 2017. With the situation of global economy, prices will be in decreasing trend in the following five years.

Industrial fasteners including nuts, bolts, and screws are used to join or fix two or more objects together. These products are expected to witness significant demand over the upcoming years as they increase the durability of the joined parts, and can be used on different kinds of substrates such as Steel, Cooper, Aluminum, etc. Steel Fasteners dominate the market with market share nearly 90%.

Fasteners are application in automotive, electric & electronics, machinery, construction, MRO and other industry. The most proportion of Fasteners is used in automotive, and the market share in 2017 is about 26% and the proportion of electric & electronics in 2017 is about 18%.

Over the next five years, LPI(LP Information) projects that Industrial Fasteners will register a 7.6% CAGR in terms of revenue, reach US$ 86200 million by 2023, from US$ 55600 million in 2017.

Market Segmentation:

By Key Players: Würth, PCC, ITW, Alcoa, Araymond, LISI, STANLEY, Fontana Gruppo, Shanghai PMC (Nedschroef), NORMA, Aoyama Seisakusho, KAMAX, Agrati Group, Meidoh, NAFCO, Gem-Year, Bulten, Boltun
By Types: Steel Type, Cooper Type, Aluminum Type, Other
By Application: Automotive Industry, Electric & Electronics, Machinery Industry, Construction Industry, MRO (Maintenance, repair, and operations), Others
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