Marine Fasteners Market: Overview
The marine fasteners market may display good growth statistics across the forecast period of 2019-2028 owing to the rise in the construction of new ships and marine vessels. The properties of marine fasteners such as compressive force and high tensile strength bring enormous growth opportunities for the marine fasteners market. Despite the advent of various modern techniques like soldering, welding, and use of adhesives, mechanical fastening remains the top preference for design engineers primarily due to the tight and secure bond they offer. Therefore, this aspect may invite good growth opportunities for the marine fasteners market.
This upcoming report on the marine fasteners market provides an in-depth analysis of the current market situation. The report covers components like competitive landscape, key players, regional analysis, and ongoing trends. The report also offers thorough research on how the COVID-19 pandemic will impact the market. The segmental study enables an individual to thoroughly understand the different aspects of the marine fasteners market systematically.
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Marine Fasteners Market: Competitive analysis
The manufacturers in the marine fasteners market are concentrating on producing marine fasteners with corrosion-free materials. The presence of numerous players in the marine fasteners market creates an atmosphere of fierce competition across the marine fasteners market. Players in the marine fasteners market are involved in research and development activities that lead to the production of cost-effective and strong reliable marine fasteners. Manufacturers are also focusing on reliable materials databases that assist in producing marine fasteners with the perfect material.
Mergers, acquisitions, joint ventures, collaborations, and partnerships form the foundation for increasing the growth rate of the marine fasteners market. Key players involved in the marine fasteners market are Seastar Solutions, HandiMan Marine, Sea-Dog Corporation, Attwood Marine Products, Fasco Fasteners, Perfect Fit-McDonald Inc., and others.
Marine Fasteners Market: Key Trends
The use of lightweight and durable marine fasteners may gain considerable momentum during the forecast period. Ergonomics form an important component in the construction of any ship or vessel. To improve the ergonomics of a ship, the use of lightweight marine fasteners made from plastic is on the rise. Also, the number of factors influencing the weather dynamics can lead to corrosion of metal marine fasteners. Saltwater is also highly corrosive. To overcome this obstacle, plastic marine fasteners are gathering good attention across the ship building landscape.
Materials like polyvinyl chloride (PVC) are corrosion resistant and are not affected by gasoline, Clorox, and other chemicals, eventually emerging as a winner. Some plastic types like polyimide and Fluoropolymers possess UV-resistant properties, thus proving beneficial for the ships and marine vessels. In addition, they also require less maintenance. All these properties of plastic marine fasteners may help in increasing the growth rate of the marine fasteners market.
The growing preference for fine-threaded marine fasteners over coarse-threaded marine fasteners may also gain traction as fine-threaded marine fasteners are easily tapped into harder materials and enable finer adjustments.
Marine Fasteners Market: Regional Assessment
Geographically, the marine fasteners market can be segmented into North America, the Middle East and Africa, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), and Japan. Asia Pacific may emerge as the largest growth generator for the marine fasteners market across the forecast period. A plethora of factors are responsible for making Asia Pacific a winner over other regions. A major factor is the presence of significant shipbuilding destinations such as China, Japan, and South Korea in the region.
Europe may emerge as the fastest growth generating region due to an increase in construction activities of naval ships, cruise ships, luxury yachts, and tugboats across Europe. Other regions may also record a stable growth rate due to the frequent advancements in the marine industry across the globe.
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The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold 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.