Fasteners are devices which are used to mechanically join two or more components, devices or surfaces together. The commonly used fasteners include nails, screws, nut, bolts, clips, rivets, pins and washers. The basic requirements for fasteners are that they must be strong enough to handle loads and pressure, must be cost effective, easy to use, resistive to corrosion and aesthetic. They find application across a wide range of sectors such as automobiles, construction, electronics, machineries, industries and other everyday applications. Increasing demand for automobiles particularly in countries such as China, Brazil and India is an important factor which is expected to contribute to the growth of the fasteners’ market over the forecast period. However, introduction and implementation of high anti-dumping duties by European Union is expected to hamper the global demand for fasteners. Development of tailor-made fasteners to suit rapidly growing niche application sectors such as railroad and solar equipment is expected to open new opportunities for the growth of the market in the near future.
 
Externally threaded fastener was the largest product segment of industrial fasteners accounting for 45% of the market in 2011. These fasteners are used in a variety of applications including construction, automotives, durable goods, industrial and domestic machines and other OEM segments. This product segment is expected to be the fastest growing segment on account of rising demand for durable goods. Other factors such as increasing construction activities and industrialization are expected to drive the demand for externally threaded fasteners. The consumption for standard fasteners accounted for over 30% of the market in 2011. 
 
Usage of industrial fasteners in other OEMs was the largest application segment of the market accounting for over 30% in 2011. However, the demand for fasteners from construction sector is expected to be highest on account of rising construction activities in Asia Pacific. Renovation and restructuring activities in matured markets of North America and Europe are expected to contribute significantly to the demand for fasteners in construction. Demand for fasteners from automotive OEM is expected to be higher than average on account of increasing demand for automobiles in countries such as China and India due to growing disposable income of consumers in this region. In addition, replacement activities are highly prevalent in North America and Europe. These factors are expected to drive the global demand for industrial fasteners in their use in automotive OEM over the forecast period. Maintenance, repair and operations (MRO) was the third largest application segment for industrial fasteners. However, this segment is expected to show the slowest growth on account of rising consumer preference towards replacement of goods. 
 
Asia Pacific accounted for the largest demand for industrial fasteners followed by the demand in Western Europe. Asia Pacific accounted for 40% of the total market in 2011. Rapid industrialization which led to improved economic conditions has led to rising construction activities for residential and non-residential buildings. In addition, industrialization has led to a growth of machinery OEM market in this region. Furthermore, favorable economic conditions have led to rising disposable income of consumers, thus, driving the demand for durable goods. These factors are expected to boost the demand for fasteners in this region over the next six years. Changing economic conditions of countries present in rest of the world such as Brazil is expected to drive the demand for fasteners over the near future. Moreover, increasing construction activities in Middle East and Africa are expected to further fuel the demand for fasteners. 
 
The industrial fasteners market is highly fragmented in nature with top five companies accounting for less than 15% of the total market share in 2011. Some of the key players present in the market include Alcoa Incorporated, Illinois Tool Works Incorporated, LISI Group, NIFCO and Precision Castparts Corporation. Other prominent players include Penn Engineering & Manufacturing Corporation, Stanley Black & Decker and ITW. 

Global Industrial Fasteners Market: Overview

The global industrial fasteners market is expected to gain momentum owing to the surge in maintenance activities around the world. Adding to that, there is increase in undertaking constructions that also boosts the market for industrial fasteners all around the world. Fasteners are basically those devices used for joining two or more devices, surfaces or components together. Fasteners basically require features like easy to use, cost effective and strong for handling loads of pressure along with corrosion resistivity. Industrial fasteners may be in the form of clips, washers, nails, bolts, and screws.

There are different variations in the market for industrial fasteners market on the basis of application and product analysis. Further classification under these categories are standard, aerospace grade and externally threaded, machinery OEM, construction, automotive OEM and MRO as well. Industrial fasteners may be applied in a variety of sectors like machineries, automobiles, industries, electronics, and construction. Out of these, externally threaded fasteners and OEMs are presumed to be more in demand and contribute larger shares to the overall market.

The report presented here is a complete evaluation of the global industrial fasteners market with large focus on market dynamics. It includes the market drivers, restraints, and trends and opportunities. It also offers geographical and other segmentation studies of the market.

Global Industrial Fasteners Market: Trends and Opportunities

In order to analyze the survival capability of the industrial fasteners market, statistical data along with other market predictions are made so that both new entrants as well as the existing players may have good amount of business to make. For that matter, the global industrial fasteners market is quite mature and may expect to ascend in its CAGR rates in the future years.

An important factor assumed to boost the global industrial fasteners market is the rise in demand for automobiles especially in the developing nations of the world. However, there may be factors that may hamper the overall market growth like introduction of high anti-dumping duties and its implementation. This is imposed by the European Union and may hinder the demand for industrial fasteners on a global basis.

Nevertheless, developing tailor-made fasteners in order to suit the swift growth of niche applications like solar equipment and railroads may boost the overall market to open up new opportunities in upcoming years.

Global Industrial Fasteners Market: Regional Analysis

The global industrial fasteners market may be classified into the regions of North America, Europe, Asia Pacific, Latin America and the Rest of the World. Both North America and Europe may be expected to contribute larger shares to the overall market owing to the increasing demand for restructuring and renovation activities in the regions.

Asia Pacific is also anticipated to grow at a rapid speed due to favorable economic conditions that increased the disposable incomes of people in the region. This ultimately drives the need for more durable goods of better quality. The construction of both residential as well as non-residential buildings also increased with rise in population in order to cater to the needs of the people. Adding to that, there is also a rise in demand for automobiles in the developing countries of India and China that ultimately fuels the growth of industrial fasteners in the Asia Pacific region.

Global Industrial Fasteners Market: Competitive Analysis

The global industrial fasteners market is anticipated to be fragmented highly due to the major challenges faced by leading players along with the entry of new players in the market. The top players of this market are NIFCO and Precision Castparts Corporation, Alcoa Incorporated, LISI Group, Stanley Black & Decker and Illinois Tool Works Incorporated.

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