According to this updated industry analysis by Fact.MR, the global industrial fastener market is analyzed to be valued at US$ 113.2 billion in 2024 and projected to further advance at 5.1% CAGR through 2034.
Strict Quality Control Standards in Construction Sector Pushing Usage of Reliable and High-performance Industrial Fasteners: Fact.MR Report
The making of buildings has come a long way over the past few decades. They’ve become taller, bigger, prettier, and more resistant to adverse weather conditions. Industrial fasteners such as dowel pins are extensively used in the construction sector due to their high reliability and corrosion resistance. According to this updated industry analysis by Fact.MR, the global industrial fastener market is analyzed to be valued at US$ 113.2 billion in 2024 and projected to further advance at 5.1% CAGR through 2034.
Market expansion is projected to be fueled by global population increase, heightened construction spending, and also rising demand for industrial fasteners in the automotive and aerospace sectors. Infrastructure development stands out as a pivotal factor influencing market dynamics across regions. The construction sector has a significant influence on the demand for industrial fasteners, as these tools are extensively employed in various structures like buildings, bridges, walls, and roofs.
In contrast to other industries, construction fasteners adhere to stringent standardization and undergo rigorous quality control measures. Government initiatives, in the form of regulatory frameworks, require manufacturers to offer standardized products with enhanced performance attributes. The expansion of research and development efforts is contributing to the growth of the industrial fastener market. This is leading to a growing emphasis on the development of innovative and advanced industrial fasteners.
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Key Takeaways from the Market Study:
The global industrial fastener market has been calculated to reach a value of US$ 186.2 billion by the end of 2034.
The market in North America is projected to expand at 5.7% CAGR from 2024 to 2034.
East Asia is forecasted to occupy 33.8% of the global market share by 2034.
North America is projected to account for a 27.3% market share by 2034.
The market in Japan is projected to reach a value of US$ 18.1 billion by 2034.
Dowel pins are forecasted to account for a 21.3% share of overall product sales by 2034.
The East Asian industrial fastener market is projected to expand at 5.2% CAGR through 2034.
“Market expansion is being driven by increased machinery and vehicle manufacturing, global construction sector expansion, technological advancements in products, and rising production of EVs,” says a Fact.MR analyst.
Leading Players Driving Innovation in the Industrial Fastener Market
American Fastener Technologies Corporation; American Bolt & Screw; AF Fastener; Acument Global Technologies (Fontana Gruppo); Birmingham Fastener; Delta Fastener Corp.; De Walt; Eurofast; Elgin Fastener Group; Extreme Bolt & Fastener
Market Developments
Key industrial fastener manufacturers are American Fastener Technologies Corporation, American Bolt & Screw, AF Fastener, Acument Global Technologies (Fontana Gruppo), and Birmingham Fastener.
In 2022, Duchesne Ltd. was taken over by Namakor Holdings with the aim of driving Duchesne’s expansion. Also, Namakor Holdings will contribute both financial and human resources to the firm.
BECK Fastener Group introduced its latest product, the LIGNOLOC wooden nail in 2022. The LIGNOLOC wooden nails are equipped with a head and are designed specifically for external applications.
Industrial Fastener Industry News:
In 2020, Stanley Black & Decker expanded its product supply chain by collaborating with OEMs and numerous other vendors.
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the industrial fastener market for 2019 to 2023 and forecast market statistics for 2024 to 2034.
The study divulges essential insights into the market based on material (metal, polymer), type (screws, nuts, bolts, washers, anchors, dowel pins), application (chemicals, petrochemicals, transportation, power generation & transmission, construction, mining, agriculture, aerospace & defense), and sales channel (online, offline), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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