Press release
Industrial Fasteners Market Expected to Reach USD 146.83 Billion by 2034, Growing at a 4.40% CAGR
Industrial Fasteners Market
Some of the key reasons for the growth are:
• Rising industrialization in emerging countries and greater demand in the aerospace industry are propelling the industrial fasteners market expansion.
• Increasing emphasis on sustainability and energy efficiency has resulted in innovations in fastener materials and designs, consequently enhancing the demand for industrial fasteners.
• The healthcare industry is experiencing a rise in the use of blind rivets, threaded inserts for plastics, and self-locking thread systems, which is boosting the market demand.
• The rising need for fasteners in the automotive and construction sectors, along with heightened construction efforts and greater consumer spending power is fueling the market growth.
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Market Overview:
Industrial fasteners are hardware components utilized to physically connect or attach two or more items, forming a permanent or semi-permanent bond. They come in a wide array of types, shapes, sizes, and materials, making them suitable for a vast range of applications across various industries. They are designed to hold parts together, ensuring structural integrity and safety in assembled components. They can be made from various materials like stainless steel, carbon steel, alloys, and other materials to withstand different stress levels and environmental conditions. Some fasteners create permanent bonds, while others are designed to be removed and reassembled, providing flexibility for assembly and maintenance. They play a crucial role in ensuring the safety, performance, and lifespan of industrial structures and products.
Competitive Analysis:
The competitive environment of the industrial fasteners market features a blend of established firms and new entrants aiming to gain market share in a fast-expanding sector. A few of them are:
• Acument Global Technologies
• Advanced Cable Ties, Inc.
• BAND-IT IDEX, Inc.
• Birmingham Fastener and Supply Inc.
• Brunner Manufacturing Co., Inc.
• Changhong Plastics Group Imperial Plastics Co. Ltd.
• Decker Industries Corporation
• Dokka Fasteners A.S.
• Eastwood Manufacturing
• Elgin Fastener Group LLC
• Hellermann Tyton
• Hilti Corporation
• Illinois Tool Works, Inc
• KOVA Fasteners Pvt Ltd.
• Manufacturing Associates, Inc.
• MW Industries, Inc.
• Nippon International
• NORMA Group
• Panduit
• Penn Engineering & Manufacturing Corp.
• Sesco Industries Inc.
• SHUR-LOK (Precision Castparts Corp.)
• Slidematic Precision Components
• Standard Fasteners Ltd.
• Stanley Black & Decker
• Wenzhou Longhua Daily Electron
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Developments in the Industrial Fasteners Industry:
• January 2022: HellermannTyton enhanced its operations by expanding its factory at the International Medical & Technology Park in Plymouth, UK, to support market growth and boost production capacity.
• January 2022: Norwegian company Dokka Fasteners expanded its presence in Europe with the establishment of a new manufacturing facility in Klaipėda, Lithuania, aimed at broadening its product offerings.
• March 2022: Birmingham Fastener and Supply Inc. announced the growth of its operations in Texas, launching Houston Fastener Manufacturing to better serve the oil and natural gas industry.
Segmental Overview:
• The industrial fasteners market is segmented based on material, product, industry, and region.
• The nuts & bolts segment, based on product, captured the largest market share in 2024 because of their extensive use in multiple sectors, including automotive, aerospace, construction, machinery, and medical device production.
• By material, the metal segment held a notable market share in 2024 because of its important characteristics like durability, strength, and resistance to heat and corrosion.
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Region-Wise Overview:
• North America
o US
o Canada
• Europe
o Germany
o France
o UK
o Italy
o Spain
o Netherlands
o Russia
o Rest of Europe
• Asia Pacific
o China
o Japan
o India
o Malaysia
o South Korea
o Indonesia
o Australia
o Vietnam
o Rest of Asia Pacific
• Middle East & Africa
o Saudi Arabia
o UAE
o Israel
o South Africa
o Rest of Middle East & Africa
• Latin America
o Mexico
o Brazil
o Argentina
o Rest of Latin America
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