Fasteners Market Analysis: Materials, Applications Growth Factors
A Comprehensive Overview
The fasteners market is a vital component of various industries, including construction, automotive, aerospace, and manufacturing. Fasteners are essential for assembling and joining different parts together, ensuring structural integrity and safety. This market overview provides an in-depth analysis of the global fasteners market, including regional analysis, market segmentation, and top key players.
The global fasteners market size was valued at USD 80 billion in 2021. It is estimated to reach an expected value of USD 142 billion by 2030, at a CAGR of 6.4% during the forecast period (2022 – 2030).
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Market Overview
The global fasteners market size was valued at USD 92.6 billion in 2022 and is expected to grow at a CAGR of 4.5% from 2023 to 2028. The market growth can be attributed to the increasing demand from end-use industries, such as construction, automotive, and aerospace. Additionally, the growing trend of industrial automation and the need for efficient and reliable fastening solutions are driving the market growth.
Regional Analysis
The global fasteners market is segmented into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa.
- Asia-Pacific: The Asia-Pacific region is expected to dominate the fasteners market during the forecast period. The region's large construction industry, growing automotive sector, and increasing demand for fasteners in the aerospace industry are driving the market growth.
- North America: The North American region is expected to be the second-largest market for fasteners. The region's well-established construction and automotive industries, as well as the growing demand for fasteners in the aerospace industry, are driving the market growth.
- Europe: The European region is expected to be the third-largest market for fasteners. The region's established construction and automotive industries, as well as the growing demand for fasteners in the aerospace industry, are driving the market growth.
Market Segmentation
The global fasteners market is segmented based on type, material, application, and end-use industry.
- By Type: The market is segmented into threaded fasteners (screws, bolts, nuts, and studs) and non-threaded fasteners (rivets, clips, and pins).
- By Material: The market is segmented into steel, aluminum, brass, and plastics.
- By Application: The market is segmented into automotive, aerospace, construction, industrial machinery, and consumer goods.
- By End-Use Industry: The market is segmented into OEM (original equipment manufacturer) and aftermarket.
Top Key Players
The global fasteners market is highly competitive, with several players operating in the market. Some of the top key players in the market include:
- Elgin Fastener Group LLC
- Birmingham Fastener and Supply, Inc
- W. Industries, Inc
- Hilti Corporation
- Nippon Industrial Fasteners Company (Nifco)
- LISI Group - Link Solutions for Industry
- Dokka Fasteners A S
- ATF Inc.
- Acument Global Technologies, Inc.
- Arconic Fastening Systems and Ring
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