Industrial Fasteners Market Size, Industry Share, Growth & Report 2024-2032

IMARC Group’s report titled “Industrial Fasteners Market Report by Raw Materials (Metal, Plastic), Products (Externally Threaded Fasteners, Internally Threaded Fasteners, Non-Threaded Fasteners, Aerospace Grade Fasteners), Type (Bolts, Nuts, Screws, Washers, Rivets, and Others), Application (Automotive, Aerospace, Building and Construction, Industrial Machinery, Home Appliances, Lawns and Gardens, Motors and Pumps, Furniture, Plumbing Products, and Others), and Region 2024–2032”. The global industrial fasteners market size reached US$ 98.2 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 140.4 Billion by 2032, exhibiting a growth rate (CAGR) of 3.93% during 2024–2032.

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Factors Affecting the Growth of the Industrial Fasteners Industry:

• Technological Advancements:

Innovations in materials science are leading to the development of high-performance materials for fasteners, including stainless steels, titanium and advanced alloys. These materials offer increased strength, corrosion resistance and durability, making them suitable for demanding applications in industries such as aerospace, automotive and construction. In addition, technology-driven manufacturing processes such as precision machining, cold forming and additive manufacturing enable the production of fasteners with complex shapes and tight tolerances. These processes improve the quality and consistency of fasteners while at the same time increasing production efficiency and reducing costs.

• Thriving Manufacturing and Construction Industry:

Manufacturing facilities require a wide variety of fasteners to assemble machines, equipment, and production lines. The manufacturing sector is expanding to meet the increasing demand for goods, and the consumption of fasteners is increasing accordingly. Moreover, construction projects, ranging from residential to commercial buildings and infrastructure projects, heavily rely on fasteners to ensure structural integrity and safety. Fasteners are used in a variety of construction applications including framing, roofing, flooring, piping, and more. The booming construction industry has led to an increased demand for a wide variety of fasteners.

• Focus on Energy Efficiency and Sustainability:

There is an increasing demand for fasteners made from environmentally friendly materials such as recycled steel, aluminum, and other sustainable alloys. Leading companies are reducing their environmental impact by adopting sustainable sourcing practices and using materials with lower carbon emissions in the manufacture of fasteners. Furthermore, lightweight fasteners contribute to improved energy efficiency by reducing the overall weight of assembled structures, vehicles, and equipment. This reduces fuel consumption in automotive and aerospace applications and reduces the energy required to transport and handle materials during construction.

Leading Companies Operating in the Global Industrial Fasteners Industry:

• Acument Global Technologies Inc.
• ATF Inc.
• Hilti Corporation
• Howmet Aerospace Inc.
• Kova Fasteners Private Limited
• LISI SA
• MacLean-Fogg Company
• MISUMI Group Inc.
• MW Industries Inc.
• Nifco Inc.
• Precision Castparts Corp.
• SFS Group AG
• Stanley Black & Decker Inc.

Industrial Fasteners Market Report Segmentation:

By Raw Materials:

• Metal
• Plastic

Metal represents the largest segment due to its versatility, durability, and strength.

By Products:

• Externally Threaded Fasteners
• Internally Threaded Fasteners
• Non-Threaded Fasteners
• Aerospace Grade Fasteners

Externally threaded fasteners account for the majority of the market share owing to their widespread use across various industries, including automotive, construction, aerospace, and electronics.

By Type:

• Bolts
• Nuts
• Screws
• Washers
• Rivets
• Others

Screws hold the biggest market share as they offer significant advantages in terms of strength, durability, and reliability compared to other fastening methods.

By Application:

• Automotive
• Aerospace
• Building and Construction
• Industrial Machinery
• Home Appliances
• Lawns and Gardens
• Motors and Pumps
• Furniture
• Plumbing Products
• Others

Automotive exhibits a clear dominance in the market, driven by the high production volumes, necessitating a constant and substantial supply of fasteners to support assembly lines.

Regional Insights:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa

Asia-Pacific enjoys the leading position in the industrial fasteners market on account of the burgeoning industrial landscape, characterized by rapid industrialization and infrastructural development.

Global Industrial Fasteners Market Trends:

The adoption of digital technologies and Industry 4.0 principles in manufacturing processes such as automation, robotics, and data analytics will increase the efficiency, flexibility, and productivity of fastener manufacturing. Digitalization allows for real-time monitoring of manufacturing parameters, predictive maintenance, and optimization of production schedules, leading to improved quality and shorter lead times.

Increasing integration of smart technologies such as radio frequency identification (RFID) tags and embedded sensors into fasteners will enable real-time monitoring of fastener performance, condition, and integrity. Smart fastener solutions offer benefits such as remote monitoring, predictive maintenance, and enhanced traceability, especially in industries where safety and reliability are paramount.

Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.

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