Press release
Industrial Fasteners Market Anticipated To Witness Robust Growth, Surpassing $128.2 Billion By 2029
Industrial Fasteners
How Big Is the Industrial Fasteners Market Size Expected to Be by 2034?
The market size for industrial fasteners has seen substantial growth in recent years, expanding from $94.44 billion in 2024 to $100.03 billion in 2025 with a Compound Annual Growth Rate (CAGR) of 5.9%. The growth during the historic period is accredited to factors such as the growth of manufacturing and construction sectors, expansion of the automotive industry, globalisation of supply chains, infrastructural development projects, as well as the requirements for quality and standardisation.
Expectations are high for substantial growth in the industrial fasteners market in the coming years, projected to reach a value of $128.2 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.4%. The surge during this forecast period can be linked to several factors such as the rise of renewable energy projects, the influence of e-commerce on distribution, the introduction of sustainable fastener solutions, initiatives for lightweighting in the automotive industry, and a shift towards lightweight materials. Trends to watch during this period include the use of high-performance materials, incorporation of digitalization and industry 4.0, specialization and customization in fasteners, the digitization of inventory control, and the integration of technology in fastener design.
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How Are Emerging Segments Shaping the Industrial Fasteners Market Landscape?
The industrial fasteners market covered in this report is segmented -
1) By Type: Externally Threaded, Internally Threaded, Non-Threaded, Aerospace Grade
2) By Raw Material: Metal, Plastic
3) By Application: Automotive, Aerospace, Construction, Industrial Machinery, Plumbing Products, Other Applications
Subsegments:
1) By Externally Threaded: Bolts, Screws, Studs, Nuts
2) By Internally Threaded: Inserts, Nuts, Taps
3) By Non-Threaded: Washers, Rivets, Pins, Clips
4) By Aerospace Grade: Aerospace Bolts, Aerospace Screws, Aerospace Rivets, Aerospace Nuts
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Which Growth Factors Are Influencing Industrial Fasteners Market Expansion?
The escalation in construction activities is projected to fuel the expansion of the industrial fasteners market. Construction entails the process of assembling various components to form a structure at a distinct location, guided by an intricate design and strategy. Industrial fasteners offer shear strength and thwart corrosion in fastener tools like bolts, nuts, screws, rivets, nails, washers, and studs, which are instrumental in construction. Consequently, the upsurge in construction activity amplifies the need for the industrial fasteners market. For example, Eurostat, a government agency based in Luxembourg, reported in February 2024 that the average annual building production in the EU and the euro region grew by 0.1% and 0.2%, respectively, in comparison to 2022. Thus, the growing need for construction activities is stimulating the development of the industrial fasteners market.
Who Are the Dominant Players Across Different Industrial Fasteners Market Segments?
Major companies operating in the industrial fasteners market include Arconic Corporation, Acument Global Technologies Inc., Dokka Fasteners AS, LISI Group, Nippon Industrial Fasteners Company (Nifco) Inc., Hilti Corporation, MW Industries Inc., Stanley Black & Decker Inc., ATF Inc., Birmingham Fastener Inc., Sesco Industries Inc., Brunner Manufacturing Co. Inc., Illinois Tool Works Inc., American Fastener Technologies Corporation, KD Fasteners Inc., Nifco Inc., Extreme Bolt & Fastener, Ford Fasteners Inc., Impala Bolt & Nut, Elgin Fastener Group LLC, Rockford Fastener Inc., Slidematic Precision Components Inc., Manufacturing Associates Inc., Penn Engineering & Manufacturing Corp., Delta Fastener Corp., MacLean-Fogg Company, MISUMI Group Inc., Precision Castparts Corp., SFS Group, Eurofast Global Ltd.
What Are the Latest Developing Trends in the Industrial Fasteners Market?
Companies majoring in the industrial fasteners field are concentrating on creating and introducing new groundbreaking products to cater to the shifting needs of various sectors, elevate performance, intensify durability, and tackle unique obstacles such as harsh temperatures, rust, and mechanical tension. The aim is to fulfill the varying needs of customers across diverse industries by offering advanced fastening remedies that amplify production efficiency and ensure the integrity of joints. For instance, in April 2024, TR Fastenings, an American company specializing in industrial fasteners, pioneered the Plas-Tech 30-20 screws which are designed to endure high-temperature environments of up to 120°C. These screws are made from modified polyphthalamide, making them apt for usage in the automotive, electronics, and industrial sector. They provide augmented strength, lower weight, and have a heightened resistance to chemicals and moisture, thus catering to challenging conditions. This product introduction showcases TR Fastenings' continuous endeavors to increase its array of ingenious fastener solutions for rigorous environments.
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Which Geographic Regions Are Expected to Dominate the Industrial Fasteners Market in the Coming Years?
Asia-Pacific was the largest region in the industrial fasteners market in 2024. North America is expected to be the fastest-growing region in the industrial fasteners market report during the forecast period. The regions covered in the industrial fasteners market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Fasteners Market?
2. What is the CAGR expected in the Industrial Fasteners Market?
3. What Are the Key Innovations Transforming the Industrial Fasteners Industry?
4. Which Region Is Leading the Industrial Fasteners Market?
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