The global fastener market was valued at USD 95.81 billion in 2023 and is expected to grow at a CAGR of 4.8% from 2024 to 2030, reaching nearly USD 133.03 billion by the end of the forecast period.
Fastener Market Overview
Fasteners are essential hardware devices used to mechanically join or affix two or more objects together. The market’s growth is driven by rising demand in industries such as automotive, aerospace, and construction. As infrastructure projects continue to expand globally, the need for standardized, durable fasteners is growing, especially in sectors requiring high-performance, high-strength fastening solutions.
Fastener Market Scope
The fastener market is analyzed across raw material types, applications, product types, and regional markets. With wide usage across automotive, aerospace, and construction, the market’s scope extends globally, with North America, Europe, Asia-Pacific, and emerging regions showing strong growth prospects.
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Market Drivers
- Growth in Construction and Infrastructure: Increasing government and private investments in both commercial and residential construction are significantly driving fastener demand. Fasteners are extensively used in construction projects, from buildings to infrastructure such as bridges and highways.
- Rising Demand in Automotive and Aerospace: Both industries require high-quality, customized fasteners to enhance safety and performance, with a particular focus on lightweight materials to improve fuel efficiency in vehicles and aircraft.
- Technological Advancements: Innovations in fastener technology, including the development of hybrid fasteners combining metal with injection-molded plastic, are enhancing product functionality and driving demand.
Market Trends
- Shift to Lightweight and Custom Fasteners: Growing emphasis on lightweight vehicles and fuel-efficient aircraft is prompting manufacturers to switch from traditional metal fasteners to customized, lightweight alternatives.
- Increased Use of Plastic Fasteners: Rising metal prices and increased demand for lightweight, corrosion-resistant materials are pushing manufacturers to opt for plastic fasteners in automotive and other industries.
- Digitalization and Advanced Manufacturing: Industry players are increasingly adopting digital manufacturing technologies to improve production efficiency and product customization.
Fastener Market Segmentation
By Raw Material
- Stainless Steel
- Iron
- Aluminum
- Plastic
By Application
- Automotive
- Aerospace
- Building & Construction
- Industrial Machinery
- Home Appliances
- Others
By Product Type
- Externally Threaded
- Internally Threaded
- Non-threaded Threaded
- Aerospace Grade
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Fastener Market Key Players
- Arconic Fastening Systems and Rings
- Acument Global Technologies, Inc.
- ATF, Inc.
- Dokka Fasteners AS
- LISI Group (Link Solutions for Industry)
- Nippon Industrial Fasteners Company (Nifco)
- Hilti Corporation
- MW Industries, Inc.
- Birmingham Fasteners and Supply, Inc.
- SESCO Industries, Inc
Regional Analysis
The North American fastener market is expected to grow significantly, driven by robust demand across the automotive, aerospace, and industrial sectors. The Asia-Pacific region is also witnessing rapid expansion due to high production volumes in automotive manufacturing and construction activities. Europe’s growth is primarily attributed to the demand for specialized fasteners in aerospace and automotive applications.
Key Questions Answered
- What is the projected market size of the global fastener industry by 2030?
- Which factors are driving the demand for fasteners in key industries like construction and automotive?
- How are technological advancements impacting the fastener market?
- What are the key trends in fastener materials and product customization?
- How is the competitive landscape shaping the growth of the fastener market?
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Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- 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 by segment with their sub-segments 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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