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Booming Application Industries Responsible for Global Industrial Fasteners Market’s Growth at a Rapid Rate

Blog Description

Fasteners hold things in a bound form. Industrial fasteners can be said to do the same for high-density materials and at higher pressures. They are mechanical joints for two objects – either surfaces, devices, or components. The most commonly found fasteners are washers, pins, rivets, clips, nuts, screws, and nails. Most of the commonly used fasteners are strong and durable, can withstand high pressures and weights, are resistive to corrosion, are cost-effective, and may also be aesthetically appealing. Aesthetics apply to segments where the fasteners are externally visible in commercially available products such as automobiles. Other areas where industrial fasteners are used include construction, electronics, machineries, and routine application instruments.

Browse the full Global Industrial Fasteners Market Report:

The global industrial fasteners market is expected to progress at a CAGR of 5.40% from 2012 to 2018. The market was valued at US$65.5 bn in 2018 and should reach US$94.6 bn in 2018. The top five players in the global industrial fasteners market – NIFCO, Precision Castparts, LISI Group, Alcoa Incorporated, and Illinois Tool Works Incorporated – hold merely 15% of the market. This is a result of the high fragmentation and regional competition in the market, where customers prefer going for locally known companies rather than international brands. Other prominent companies in the global industrial fasteners market are ITW, Stanley Black & Decker, and Penn Engineering & Manufacturing Corporation.

Demand in Construction and Automobiles Provides Major Boost to Global Industrial Fasteners Market

The construction sector, as an end-user industry to the global industrial fasteners market, is progressing at a 9% CAGR from 2012 to 2018. The automotive industry also shows a rapid increase in the demand for industrial fasteners. Both industries are booming on a global level, especially in the emerging economies of India, China, and other Asia Pacific nations. This spells a profit streak for the global industrial fasteners market, as the two are its largest end-use industries. Other industries that are ramping up the demand for industrial fasteners are maintenance and infrastructure development.

International Players Look to Expo Trends for Growth in Global Industrial Fasteners Market

The Fastener Expo, or the National Fastener and Mill Supply Expo, hosts a sharing ground for the latest trends and companies in the market from almost 20 nations. The expo usually holds exhibitions and stalls from over 600 companies and receives buyers from 38 nations. The 2015 Fasteners Expo was held in Sands Center in Las Vegas and provided a highly regarded entry point for players into the industrial sectors. It additionally improves the spectrum of end-use industries that look to the global industrial fasteners market. The Expo was recently acquired by Emerald Expositions from the co-owners of the show, Mike McGuire and Jim Bannister, who started the annual expo almost 35 years ago. The expo is aimed at both manufacturers and distributors of industrial fasteners and fastener machinery and tooling.

Browse the full Press Release of Global Industrial Fasteners Market

Most of the global industrial fasteners market saw its growth through the sales and manufacturing of externally threaded fasteners, a product segment with a market share of 45% in 2011. These fasteners are used in nearly every end-use segment of the market.