Analysts at GMI Research estimates that the Industrial Fasteners Market was worth USD 89.5 billion in 2021, and forecast to touch USD 127.3 billion in 2029, growing at a CAGR of 4.5% from 2022-2029.

Industrial fasteners are the products that are primarily used to join different parts of an item by the use of screws, bolts, washers, and others. The industrial fasteners come in several shapes and sizes and can also be referred to as hardware devices which mechanically attaches two or more objects together. The industrial fasteners can be used across several application areas such as automotive, construction, among others, and have the ability to endure any type of weather or chemical element.

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The global industrial fasteners market is mainly driven by various factors, including the rising demand for industrial fasteners across various industry verticals, along with the rise in the industrial activities across numerous countries. In addition to this, various technological advancements being implemented in the development of industrial fasteners such as the implementation of IoT to enhance the productivity and performance is also a key factor propelling the growth of the global industrial fasteners market during the forecast period. An expansion in the construction activities in several countries as a result of the growing population & rapid urbanization has led to an increase in the infrastructure development, which is another factor surging the demand for the industrial fasteners in the market worldwide.

Moreover, the increasing emphasis of the manufacturers towards implementing growth strategies such as acquisitions, mergers, and expanding their presence, followed by the increasing amount of production, are also some other factors thriving several growth opportunities for the industrial fasteners in the market. The factors that are responsible for restraining the growth of the global industrial fasteners market include the presence of alternatives in the market. Furthermore, the market is also adversely affected by the outbreak of COVID-19 as there has been a significant decline in the usage of fasteners across major industry verticals.

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Based on the raw material, the Metal Fasteners segment is expected to increase at a higher CAGR during the forecast period owing to the rising adoption of this type of raw material for the production of industrial fasteners, which can be used across various application areas. In addition to this, several benefits associated with the use of the metal fasteners, such as increased mechanical strength, enhanced corrosion resistance, and high tensile strength, are further fuelling the growth of the market in this segment.

Based on the application, the Automotive segment is anticipated to grow at a higher CAGR over the forecast period owing to the increase in the implementation of industrial fasteners in this application as a result of the growing production in the automotive sector across various countries. Moreover, the rising demand for automobiles owing to the increase in disposable income, growing penetration of electric vehicles, and the arising emphasis of automobile manufacturers on manufacturing efficient engines, will further drive the growth of the market in this segment.

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Based on the region, Asia-Pacific is anticipated to dominate the market during the forecast period owing to the rising adoption of industrial fasteners as a result of the rapid expansion in industrial activities. Moreover, continuous expansion in the automotive industry due to the growing demand for automobiles as a result of an increase in the disposable income across countries such as India, China, and others, along with the growth in the construction activities and surging demand for the repair & maintenance activities are some other factors creating several growth opportunities for the industrial fasteners market in this region.

Various notable players operating in the market include Acument Intellectual Properties, LLC, Arconic, Dokka Fasteners, ATF Inc., Nifco Inc, LISI Group, MW Industries, Inc., Hilti Corporation, Sesco Industries, and Birmingham Fastener and Supply Inc., among others.

Key Developments:

• • In 2020, Birmingham Fastener and Supply Inc. acquired Atlanta Rod and Manufacturing, a domestic manufacturer of fasteners in Georgia. Through this acquisition, the company planned to expand its footprint in the United States.
  • In 2020, Hilti Corporation launched smart fasteners which enable the digital documentation and unique identification on the job site. These products increase job productivity across the application chain and offer traceability from design to installation.

The global industrial fasteners market has been segmented on the basis of raw material, product, commodity, application, and region. Based on the raw material, the market is segmented into plastic fasteners and metal fasteners. Based on the product, the market is segmented into internally threaded fasteners, externally threaded fasteners, aerospace grade fasteners, and non-threaded fasteners. Based on the commodity, the market is segmented into bolts, nuts, screws, and others. Based on the application, the market is segmented into aerospace, automotive, industrial machinery, building & construction, lawns & gardens, home appliances, furniture, motors & pumps, plumbing products, and others.

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Key questions answered in this research report:

• • At what pace is the global industrial fasteners market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in the global industrial fasteners market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global industrial fasteners market?
  • Which raw material generated maximum revenues in 2021 and identify the most promising raw material during the forecast period?
  • What are the various application areas of industrial fasteners, and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Industrial Fasteners Market by Raw Material

• • Plastic Fasteners
  • Metal Fasteners

Global Industrial Fasteners Market by Product

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

Global Industrial Fasteners Market by Commodity

• • Bolts
  • Nuts
  • Screws
  • Others

Global Industrial Fasteners Market by Application

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

Global Industrial Fasteners Market by Region

• • North America Industrial Fasteners Market (Option 1: As a part of the free 25% customization)
    • By Raw Material
    • By Product
    • By Commodity
    • By Application
    • US Market All-Up
    • Canada Market All-Up
  • Europe Industrial Fasteners Market (Option 2: As a part of the free 25% Customization)
    • By Raw Material
    • By Product
    • By Commodity
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Industrial Fasteners Market (Option 3: As a part of the free 25% Customization)
    • By Raw Material
    • By Product
    • By Commodity
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up
  • RoW Industrial Fasteners Market (Option 4: As a part of the free 25% Customization)
    • By Raw Material
    • By Product
    • By Commodity
    • By Application
    • Brazil Market All-Up
    • South Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Global Industrial Fasteners Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Acument Intellectual Properties, LLC
  • Arconic
  • Dokka Fasteners
  • ATF Inc.
  • Nifco Inc
  • LISI Group
  • MW Industries, Inc.
  • Hilti Corporation
  • Sesco Industries
  • Birmingham Fastener and Supply Inc.