Building and Construction Fasteners Market: Overview
The building and construction fasteners market is expected to observe steady growth during the forecast period of 2021-2031. An increase in the construction activities around the globe will serve as a prominent growth-generating factor for the global market.
Earlier, metal fasteners were in demand due to their properties such as high resistance and robustness but due to the advent of plastic fasteners, the demand decreased. The properties of plastic fasteners such as lightweight and corrosion-resistance proved to be beneficial. Hence, based on all these factors, the building and construction fasteners market is estimated to observe a positive growth trajectory between 2021 and 2031.
A fastener is a device that is used for joining two or more objects. The most important advantage of these devices is that they do not damage the objects as much as welding does. Based on product, the building and construction fasteners market can be segmented into plastic clips, cable ties, rivets, and plastic grommets, Residential and commercial segments use these fasteners in various applications.
The research conducted on the global market for building and construction fasteners by Transparency Market Research (TMR) is a treasure of information for the stakeholders and CXOs. All the information has been compiled systematically in a report which provides valuable insights to the stakeholders about the recent trends, competitive landscape, regional aspects, and many other touch points that describe the growth trajectory of the building and construction fasteners market.
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What is the Competitive Landscape of Building and Construction Fasteners Market?
The building and construction fasteners market has numerous players in the fray for obtaining a prominent position. The players are involved in research and development activities. These activities lead to new discoveries and upgrades in terms of quality across building and construction fasteners. Furthermore, strategic collaborations also form an important part of the building and construction fasteners market growth trajectory. The collaborations help in strengthening the influence of the players, eventually increasing the growth rate of the building and construction fasteners market.
Manufacturers in the building and construction fasteners market indulge in production expansion activities. These activities assure seamless distribution of fasteners to the end-users. The players, through mergers and acquisitions, also try to expand their prominence across numerous regions. All these aspects ultimately lead to the growth of the building and construction fasteners market.
Some well-entrenched players in the building and construction fasteners market are Nippon Industrial Fasteners Company, Volt Industrial Plastics, Avery Dennison Corporation, and ARaymond Industrial.
What are Key Trends in Building and Construction Fasteners Market?
Rising Urbanization across Numerous Regions to Invite Profitable Growth
Urbanization has increased exponentially over the years. According to the UN World Urbanization Prospects, the numbers of people living in urban areas outnumber the number of people in rural areas worldwide. The number of people living in urban areas across the globe was 4.1 Bn in 2017, meaning more than half of the world (55%) resides in urban areas. The rising rate of rural-to-urban migration has led to an increase in construction activities. The demand for construction activities is directly proportional to the growth of the building and construction fasteners market.
Plastic Grommets Present Plethora of Growth Opportunities
The demand for plastic grommets is increasing at a steady rate and is estimated to increase further during the forecast period. The expanding focus of the consumers on using aesthetically appealing products in modern constructions invite considerable growth for plastic grommets, eventually boosting the growth prospects of the building and construction fasteners market.
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What are Regional Dimensions of Building and Construction Fasteners Market?
Asia Pacific’s building and construction fasteners market is estimated to observe a dominating stance. Improved economic growth across densely populated regions such as India and China will serve as a vital growth-generating factor. North America’s building and construction fasteners market is also expected to seek a prominent position between 2021 and 2031. The growing investments in residential and commercial construction present good growth prospects.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.