Fastener Market Valued at USD 95.81 Billion in 2023, Expected to Grow at a 4.8% CAGR, Reaching USD 133.03 Billion by 2030

Fastener Market size was valued at USD 95.81 Bn. in 2023 and the Fastener's total revenue is expected to grow by 4.8% from 2024 to 2030, reaching nearly USD 133.03 Bn

Fastener Market Overview:

The fastener is a hardware device that mechanically joins or attaches two or more objects together. The market is expected to be driven by the growing population, high investments in the construction sector, and rising demand for industrial fasteners in the automotive and aerospace sectors. Infrastructure development is one of the key parameters to be considered while tracking the regional development of the market. The construction industry notably impacts the demand for industrial fasteners as they are extensively used in buildings, bridges, walls, and roofs. Unlike other industries, fasteners used in construction are standardized and subject to stringent quality checks.

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Fastener Market Dynamics:

Growth in Building & Construction Industry is Driving Industrial Fasteners Market Growth Increasing demand for commercial and residential housing projects and government spending on infrastructure activities will foster the construction market growth. They are used in the construction industry to join two or more objects together in a non-permanent way. Building & construction fasteners are used in heavy-duty applications to join materials together, as the sector requires strength and precision. Stainless steel, alloy steel, and carbon steel are different fastening types used in the construction sector. Common types of building construction products include nuts, bolts, washers, screws, and rivets. Each infrastructure project requires various types of fastening products to ensure safe and robust construction. Most of the products are manufactured using carbon steel as it offer affordability, strength, and workability. Whereas, stainless steel is the most preferred material for construction, owing to its ability to resist heat, corrosion, and strength, thereby boosting the demand for industrial fasteners.

Fastener Market Regional Analysis

The North America Fastener Market area is estimated to grow rapidly during the projected timeframe, owing to an increase in cardiac problems and diabetes leading to the development of innovation in syringes and needles products. In addition, the growing number of diseases prevalence in the North American region will boost the market growth. Leading market players invested heavily in research and development (R&D) to scale up their manufacturing units and product lines, which will help the Fastener Market grow worldwide.

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Fastener Market Segmentation:

Metal fasteners account for the largest market share of 91.2% in 2023. It includes various materials such as stainless steel, bronze, cast iron, superalloys, and titanium. The high mechanical strength is expected to be an important factor triggering their growth over the forecast period. Plastic fasteners are growing at the fastest CAGR of 5.4%. During the forecast period. It is gaining importance in the automotive industry owing to its low-cost, lightweight, and superior chemical & corrosion resistance properties. These are manufactured using various raw materials, including polycarbonate, polyurethane, polyvinylchloride (PVC), polyacrylamide (PA), polystyrene (PS), polyethylene (PE), and nylon. Plastic fasteners are witnessing high growth, in terms of demand, especially from the automotive and aerospace industries, owing to their superior corrosion and chemical-resistant properties. In addition, characteristics such as low cost, availability in a wide variety, and lightweight are expected to be the key parameters driving demand for the product in the manufacturing of high-efficiency and lightweight vehicles.

Leading Fastener Market key industry:

Arconic Fastening Systems and Rings
Acument Global Technologies, In
ATF, Inc.
Dokka Fasteners A S
LISI Group - Link Solutions for Industry
Nippon Industrial Fasteners Company (Nifco)
Hilti Corporation
MW Industries, Inc.
Birmingham Fasteners and Supply, Inc.

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Key questions answered in the Fastener Market are:

What segments are covered in the Fastener Market report?
Which region is expected to hold the highest share in the Fastener Market?
What is the market size of the Fastener Market by 2030?
What is the forecast period for the Fastener Market?
What was the market size of the Fastener Market in 2023?
Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2023)
Past Pricing and price curve by region (2018 to 2023)
Market Size, Share, Size & Forecast by Different Segment | 2024-2030
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis of the Offerings, Vertical, Application and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
Recommendations


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