Global Industrial Fasteners Market 2019 includes Attractiveness and Raw Material Analysis and Competitor Position Grid Analysis to 2025
Fior Markets launched a study titled “Global Industrial Fasteners Market by Raw Material (Metal, Plastic), Product (Internally threaded, Non-threaded, Others), Application, Regions”,and Global Forecast 2018-2025.
The global industrial fasteners market is expected to grow from USD 79.83 Billion in 2017 to USD 109.61 Billion by 2025, at a CAGR of 4.04% during the forecast period from 2018-2025. Introduction of innovative fasteners like specialty, miniature, and hybrid fasteners coupled with unabated demand from automobile and construction sector is projected to boost the demand for the industrial fasteners.
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Plastic segment is anticipated to grow at a CAGR of 6.29% in 2018-2025
Raw material segment is divided into metal and plastic. Increasing demand for cost effective, lightweight and corrosion resistant fasteners from automobile and aerospace industry is anticipated to propel the plastics segment to grow at a CAGR of 6.29% over the forecast period. Metal segment dominated the industrial fastener market with USD 23.55 billion revenue in 2017. Metal fasteners generate huge demand from industrial machinery and construction equipment manufacturing sector due to their excellent mechanical strength and impact resistance properties.
Non-threaded segment had a market value of USD 25.37 billion in 2017
Product segment is categorized into externally threaded, internally threaded, non-threaded, aerospace grade and others. Non-threaded segment emerged as the market leader in global demand for industrial fasteners with a revenue of USD 25.37 billion in 2017. Increasing growth of aerospace industry in Asia Pacific as well as rise in number of global satellite launches is anticipated to boost the aerospace segment to grow at a CAGR of 7.18% over the forecast period.
Automotive segment emerged as a leader with a 28.59% share of market revenue in 2017
Application is segmented into construction, automotive, aerospace, electrical and electronics, industrial machinery, furniture and others. Growing worldwide demand for automobiles has led automobile segment to dominate the global industrial fasteners market in 2017. Construction segment also accounted for a significant share of the market in 2017 owing to an increase in infrastructure development activities around the world.
Regional Segmentation Analysis:
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. Asia Pacific region dominated the global industrial fasteners market with USD 27.47 billion revenue in 2017. North America attained the second position on account of its well-established automotive, aerospace and construction sector.
Major players in the global industrial fasteners market are Stanley Black & Decker Inc., MW Industries Inc., Illinois Tool Works, Penn Engineering & Manufacturing Corporation, Acument Global Technologies Inc., Arconic Inc., Bulten AB, Fortana Group, Hilti Corporation, LISI Group, MacLean-Fogg Company, MISUMI Group Inc., Nifco Inc., Precision Castparts Corp., The SFS Group, A&G Fasteners, SA Fasteners among others.
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