Bolts are used to join two or more parts of an equipment. Bolts provide strength to the parts which are joined together. They are also used to join two or more flanges. The flange is a method to join the valve, pipes, pumps etc. together. Bolts are used to join them, thus providing strength to the equipment. Many steel structures and building fittings are fixed together with bolting. Hex bolts together with the matching nuts are used to join two pieces of fitting and fixtures. There are two types of bolts, used based on its usage: full screw bolt and half screw bolt.
Increase in urban population has led to the growth in application of bolts. Increase in construction of residential and commercial buildings due to migration of people from rural areas to urban areas will lead to the growth in sale of sanitary ware. Nylon bolts are majorly used in sanitary ware products since they are lightweight and they avoid the rusting that occurs in iron and steel bolts. Machinery and automotive are the major applications where iron and stainless steel bolts are used to give strength to the equipment. Bolts are used to bind the two or more equipment in the vehicle. According to Society of Indian Automobile Manufacturers, the production of passenger and commercial vehicles has increased by 14.8% from 2016 to 2017. Increase in number of vehicles will also drive the demand for the bolts market.
Stainless steel bolts are corrosion resistant which increases durability of the product and decreases the repair and maintenance cost. Corrosion resistant feature protects the bolt from the rust and also protects the flange from getting rust. Bolts are noiseless while in use and provide quick fabrication to the equipment. They are easy to use and can also accommodate the minor discrepancies in dimension of the equipment.
Bolts have some restraints which can affect the demand for the product. Nylon bolts which are preferred for sanitary ware use are not strong and durable. Nylon bolts are used in sanitary ware due to rusting of iron and steel bolts. Bolts should be properly fastened; or else during vibration and jerks, the fastener may lose grip and open up. In moist areas, due to the oxidation process, iron and steel bolts may get rusted and lose their strength and break. Stainless steel bolts are fairly expensive and may not be feasible to use in the entire project. These factors are expected to decrease the demand for bolts during the forecast period.
The global bolts market can be segmented based on product, type, material, application, and region. Based on product, the bolts market can be classified into hex bolt, flange bolts, carriage bolts, lag bolts, machine bolts, and others (plow bolts, shoulder bolts, step bolts, etc.). In terms of type, the bolts market can be segmented into up to half screw bolt and full screw bolt. Based on material, the global bolts market can be classified into iron, steel, stainless steel, nylon, and others (bronze, brass, etc.). In terms of application, the bolts market can be categorized into automotive, machinery, construction, maintenance, repair, operations, and others (sanitary ware, furniture, etc.). Based on region, the bolts market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
Some of the key players in the global bolts market are The Würth Group, KAMAX Holding GmbH & Co. KG, Textron Fastening Systems Inc., Stanley Black & Decker, Inc., LISI SA, ARaymond France SAS, Industrial Fasteners, Inc., Marmon Group, Gem-Year Industrial Co., Ltd and Ciser Bolts and Nuts.
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