Engineered Fastener Market Growth, Analysis, Latest Trends and Forecast till 2027

The engineered fastener are type of hardware devices or tools which are used to connect parts or objects together permanently, semi permanently or non-permanently. The most common types of fasteners used in various industries include nuts, nails, bolts, screws, studs, rivets among others. The engineered fastener market is segmented into by material, by product, by type, by industry, and by region. Engineered fasteners are used in almost every type of machine or motor to fix the part of the machines accurately and safely. These fasteners also find their use in consumer electronics such as mobile phones, laptops among others.

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The use of fastener in the aerospace industry is critical and hence, strict standards are to be followed by the manufacturers for the fasteners used in the aerospace industry. Fasteners are also widely used in automobiles and their spare parts. The rise in EV vehicles market will support and strengthen the engineered fastener market in the forecast period. The alternatives such as clinching is the restraining factors of the market. The substitutes such as adhesives and bonding also restrict the use of fasteners in certain specific application.

"Metal Fasteners to dominate the engineered fastener market"

Metal fasteners can find their applications in almost all industries such as construction, automotive, aerospace, industrial machinery, manufacturing, and home appliances among others. The metal fasteners are made up of metals such as steel, aluminum, chrome, brass, copper, nickel, and titanium. The metal used in the fastener depends upon the application and the properties required by respective fastener. For instance, the titanium fasteners are used in aerospace industry, similarly copper is used for marine industry due to its high resistance to saltwater corrosion. Moreover, the metal fasteners provide better resistance and mechanical strength to the equipment used in industries such as construction, manufacturing, power and oil and gas. All these factors are driving the demand of metal fasteners worldwide.

"Aerospace industry to register the highest CAGR in the forecast period"

The aerospace industry application is expected to register the highest CAGR during the forecast period. The fasteners in aerospace industry are majorly used for aircraft assembly and manufacturing processes of the aircraft carriers. The fasteners used in the aircraft require high-strength materials with high-impact resistance. These fasteners are also required to be lightweight, hence, metal fasteners are used which are made of titanium metal. The expected growth of global aerospace industry is expected to fuel the engineered fastener market in the forecast period.

Engineered Fastener Market, By Material
Introduction
Metal
Plastic

Engineered Fastener Market, By Product
Introduction
Externally Threaded
Internally Threaded
Non-Threaded

Engineered Fastener Market, By Type
Introduction
Permanent Fastener
Non-Permanent Fastener
Semi-Permanent Fastener

Engineered Fastener Market, By Region
North America
Europe
APAC
RoW

"Engineered fastener market in Asia Pacific to grow at the highest CAGR"

The growing population, rising urbanization, rising income level, and expanding construction industry in emerging economies such as China and India are the key factors driving the growth of the Asia Pacific engineered fastener market. Moreover, increased government investments in commercial and residential construction sector will boost the engineered fastener market in the region. Besides, the standard of living in the region is improving and thus attributed to the economic developments in the region, which is driving the demand for industries like automotive and construction in the region. Additionally, China and India are the major manufacturing hubs, which further drives the market growth in the region.

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Key Market Players

Stanley Black & Decker, Inc. (US), LISI GROUP (France), Nifco Inc. (Japan), Würth Group (Germany), Illinois Tool Works Inc. (US), and Alcoa Corporation (US) are a few key players in engineered fastener market.

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This release was published on openPR.