Industrial Fasteners Market - Snapshot
Industrial fasteners refer to the high quality fasteners which are used in a variety of applications ranging from maritime to automobile and construction industry. The term industrial fasteners and permanent fasteners are interchangeably used in this reference. These fasteners are able to withstand almost every weather and chemical element (and can last for many years without needing replacement).
Increasing demand from automotive, construction, and manufacturing industry across all the regions is expected to drive the demand for industrial fasteners over the forecast timeline. According to the Bureau of Labor Statistics and a report from Timetric’s Construction Intelligence Center (CIC), the construction industry is booming and is projected to be the fastest growing industry into 2020. The market is expected to reach almost US$ 1.2 Trillion by 2020 with a projected growth of 4.5%. The U.S. population is expected to reach 338 million by 2020 from 321.2 million in 2010, which will further result in driving the demand for residential housing, thus escalating residential construction growth over the forecast period.
The automotive industry is expected to witness enormous growth across the world over the forecast period. This growth is attributed to the increased manufacturing of automobiles since automakers are constantly developing drive-trains and more efficient engines to reduce fuel consumption and are using emission-control technology to produce cleaner automobiles. The global volume of the automotive industry is expected to reach 95 million in 2018 and 97 million in 2019 approximately. China, India, and East Europe are projected to be emerging markets globally, thereby driving the demand for industrial fasteners over the forecast timeline.
Fluctuating prices of raw materials such as steel, copper, and aluminum have impacted the margins of manufacturers. In 2017, 1.7 billion metric tons globally which accounts to almost half of the steel produced, came from China. Steel prices have been increasing rapidly in China as compared to the global average price over the last few years. The Chinese steel price composite index increased by around 17% over the same time period from January 2017 to January 2018, while the world index increased by 11% for rebar prices. Chinese steel demand accounts for nearly 45% of global demand, and exports accounted for 27% of world steel exports in 2017, which makes China the largest steel exporter in the world. As such, recent developments in Chinese steel prices are likely to have an important effect on the development of global steel prices as a whole. This fluctuation poses a constant threat to the industrial fasteners market throughout the forecast timeline.
The global industrial fasteners market is expected to grow steadily at a CAGR of 2.2% in terms of value over the forecast period due to the growing demand from application industries which include automotive, machinery, and construction. Strong recovery in the automotive and construction segment is projected to sustain the growth in various developed countries. Furthermore, rising demand for lightweight fasteners in the automotive industry and high-value titanium fasteners in the aerospace industry is also projected to drive the market in the coming years.
The industrial fasteners market in Asia Pacific is projected to hold the major share in the global market and is expected to expand at a CAGR of 2.6% in terms of revenue over the forecast period. The growth is attributed to economic developments in China and India which have increased the disposable income of consumers in the region, thus promoting the growth of the automotive industry. Furthermore, the developments in the maintenance and construction industry across the globe have also contributed to the growing demand for fasteners in the region.
The major industry participants in the global industrial fasteners market are Acument Global Technologies Inc., Arconic Inc., Bulten AB, STANLEY Engineered Fastening, Fortana Group, Hilti Corporation, LISI Group, MacLean-Fogg Company, MISUMI Group Inc., Nifco Inc., Precision Castparts Corp., The SFS Group, A&G Fasteners, SA Fasteners, etc.
Industrial Fasteners Market - Overview
The industrial fasteners market report provides analysis for the period 2016–2026, wherein 2018 to 2026 is the forecast period and 2017 is the base year. The report covers all the major driving factors and key trending topics impacting the growth of the industrial fasteners market over the forecast period. It also highlights the restraints and opportunities expected to influence the market during the aforesaid period. The study provides a comprehensive outlook on the industrial fasteners market throughout the forecast period in terms of revenue (in US$ Mn) and volume (Th Metric Tons), across different geographies, including Asia Pacific, South America, North America, Europe, and Middle East & Africa (MEA), with Africa broken down in detail.
The report covers the entire overview of the industrial fasteners market including the dynamics such as drivers, restraints, opportunities, and trends that are predicted to leverage the existing nature and prospective status of this market. The relationship between diverse industries is explained under the ecosystem analysis. Furthermore, the several internal and external factors affecting the industrial fasteners market are studied through the industry SWOT analysis. The competitive position of the market is studied through the Porter’s Five Forces analysis. Additionally, current indicators of diverse macro-economic factors are contextualized under key market indicators. A detailed qualitative analysis is provided specifically for the Africa region in order to deeply understand the emerging demand in the region.
The industrial fasteners market has been provided in (US$ Mn) in terms of revenue and (Metric tons) in terms of volume, as well as the CAGR (%) for the forecast period 2018 to 2026. The industrial fasteners market is a global report analyzed on the basis of commodity, application, and region. Additionally, under the regional sections, the price trend has been incorporated to ascertain the regional impact of the same. The incremental opportunity analysis has been highlighted in order to determine the most attractive segment in the upcoming years. Based on regions, the market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The report also highlights the competitive landscape of the industrial fasteners market, thereby positioning all the major players according to their geographic presence and recent key developments. The comprehensive industrial fasteners market estimates are the result of our in-depth secondary research, primary interviews, and in-house expert panel reviews. These market estimates have been analyzed by taking into account the impact of different political, social, economic, technological, and legal factors along with the current market dynamics affecting the growth of the industrial fasteners market. Besides, competition matrix and market share analysis has been included under the competitive landscape to understand the top players’ contribution to the industrial fasteners market. Each company is studied on the basis of basic information, financial highlights, revenue highlights of regional contribution and segment contribution, and product portfolio. Additionally, the company strategy and recent developments if any are also incorporated under each company profile section.
The global industrial fasteners market report has profiled the top players having a global presence such as Acument Global Technologies Inc., Arconic Inc., Bulten AB, STANLEY Engineered Fastening, Fortana Group, Hilti Corporation, LISI Group, MacLean-Fogg Company, MISUMI Group Inc., Nifco Inc., Precision Castparts Corp., The SFS Group, A&G Fasteners, SA Fasteners, etc.
The industrial fasteners market is segmented as below.
Industrial Fasteners Market
- Automotive OEM
- Machinery OEM
- Fabricated Metal Products
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- North Africa
- Rest of North Africa
- West Africa
- Côte d'Ivoire
- Rest of West Africa
- East Africa
- Rest of East Africa
- Central Africa
- Republic of Congo
- Rest of Central Africa
- South Africa
- South Africa
- Rest of South Africa
- Rest of MEA
- North Africa
- South America
- Rest of South America