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Key Trends Influencing the Growth of the Industrial Fasteners Market in 2025: Major companies operating in the industrial fasteners sector are focused on developing and launching new innovative products to to meet the evolving demands of various industrie
Industrial Fasteners
What Is the Expected CAGR for the Industrial Fasteners Market Through 2025?
Over the past few years, the market size for industrial fasteners has consistently expanded. It is projected to increase from $94.44 billion in 2024 to $98.87 billion in 2025, with a compound annual growth rate (CAGR) of 4.7%. Factors contributing to this historic growth include the expansion of manufacturing and construction sectors, automotive industry growth, the internationalization of supply chains, development of infrastructure projects, and adherence to quality and standardization norms.
What's the Projected Size of the Global Industrial Fasteners Market by 2029?
It is anticipated that the industrial fasteners market will undergo substantial growth in the upcoming years, expanding to a size of $125.22 billion by 2029 at a CAGR of 6.1%. This predicted growth can be associated with several key factors such as the expansion of renewable energy projects, e-commerce's impact on distribution, the development of sustainable fastener solutions, lightweight initiatives in the automotive industry, and a transition towards lighter materials. The forecast period is predicted to witness significant trends such as the use of high-performance materials, the incorporation of digitalization and Industry 4.0, the emphasis on customization and specialty fasteners, digital inventory management, and technological advancement in fastener design.
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Top Growth Drivers in the Industrial Fasteners Industry: What's Accelerating the Market?
The rising need for construction tasks is projected to fuel the expansion of the industrial fasteners sector. Construction involves assembling various elements to create a unique structure at a specific site, following a comprehensive design plan. Industrial fasteners, including bolts, nuts, screws, rivets, nails, washers, and studs, provide shear strength and resist corrosion, making them vital components in construction tasks. Consequently, heightened demand for construction correlates with increased market demand for industrial fasteners. For example, Eurostat, a governmental organization from Luxembourg, reported in February 2024 that the annual average for building production in the European Union and euro zone rose by 0.1% and 0.2% respectively, in comparison to 2022. Therefore, the surging demand for construction tasks is a key factor in the growth of the industrial fasteners market.
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What Trends Will Shape the Industrial Fasteners Market Through 2029 and Beyond?
Leading enterprises in the realm of industrial fasteners are concentrating on advancing and introducing novel products that fulfill shifting demands across various industries. These innovations aim to boost performance, amplify durability, and tackle specific issues like extreme heat, corrosion, and mechanical stress. They offer cutting-edge fastening solutions, which enhance manufacturing efficacy and the integrity of joints, satisfying a broad spectrum of customer requirements. For instance, TR Fastenings, a US enterprise specializing in industrial fasteners, launched Plas-Tech 30-20 screws in April 2024. These screw models are fashioned from modified polyphthalamide, ideal for electronics, automobiles, and industry applications due to their sturdiness and application in harsh conditions exceeding up to 120°C. They feature increased robustness, weight reduction, and superior resistance to moisture and chemicals, catering to challenging conditions. TR Fastenings' commitment to magnify its innovative fastener solutions range, especially for demanding environments, is evident through this launch.
What Are the Main Segments in the Industrial Fasteners Market?
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 Top Companies are Driving Growth in the Industrial Fasteners Market?
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.
Which Regions Will Dominate the Industrial Fasteners Market Through 2029?
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
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