IMARC Group, a leading market research company, has recently releases report titled “Industrial Fasteners Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global industrial fasteners market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Industry Overview of Industrial Fasteners Market

Industrial fasteners are essential components used in various sectors, including manufacturing, construction, automotive, and aerospace, to securely join or fasten multiple objects together. These fasteners play a crucial role in maintaining structural integrity, ensuring safety, and facilitating efficient assembly and disassembly of components. They come in a wide range of sizes, shapes, and materials to meet the diverse requirements of different applications. Common types of industrial fasteners include bolts, nuts, screws, washers, rivets, and anchors. Bolts are cylindrical rods with a threaded end, typically used with nuts to create strong and secure connections. Nuts, on the other hand, are hexagonal or square-shaped objects with an internal threaded hole, enabling them to be paired with bolts. Screws are similar to bolts but typically have a pointed tip and are designed to be driven into a material, creating a secure attachment. Washers are flat, circular discs placed between the fastener and the surface to distribute the load and prevent damage. Rivets are permanent fasteners that are inserted into pre-drilled holes and then deformed to secure objects together. Anchors are fasteners used in masonry or concrete applications to provide a secure attachment point for other components. Industrial fasteners are available in various materials such as steel, stainless steel, aluminum, brass, and plastic, each chosen based on factors such as strength requirements, corrosion resistance, and environmental considerations. Their versatility and importance make industrial fasteners vital components in countless applications across multiple industries.

How Big Is the Industrial Fasteners Market?

The global industrial fasteners market size reached US$ 94.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 123.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.5% during 2023-2028.

Global Industry Trends and Drivers:

The industrial fasteners market is driven by several industry trends and drivers that shape its growth and dynamics. One key trend is the increasing demand from various end-use industries, including automotive, aerospace, construction, and manufacturing. These sectors heavily rely on fasteners for assembly, repair, and maintenance purposes. The automotive industry, in particular, drives the demand for lightweight and high-strength fasteners to improve fuel efficiency and meet stringent regulatory standards. Similarly, the aerospace industry demands fasteners that offer exceptional strength, corrosion resistance, and reliability to ensure the safety and performance of aircraft. The construction sector requires fasteners for structural applications, such as anchoring, framing, and cladding, as well as for infrastructure development.

Another significant trend is the growing emphasis on product innovation and advancements in fastener technology. Manufacturers are investing in research and development to introduce fasteners with improved characteristics, such as higher strength, enhanced durability, and resistance to extreme conditions. This includes the development of specialized fasteners for specific applications, such as high-temperature environments or corrosive atmospheres. Additionally, there is an increasing focus on sustainable and eco-friendly fasteners, with the use of recyclable materials and reduced environmental impact during production and disposal.

What Is Included In Market Segmentation?

The report has been segmented the market into following categories:

Breakup by Raw Materials:

• Metal
• Plastic

Breakup by Products:

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

Breakup by Type:

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

Breakup by Application:

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

Breakup by Region:

• 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

The report provides a comprehensive analysis of the industry key players listed below:

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 and Stanley Black Decker Inc.