Mechanical fasteners utilized in industrial purposes embrace a variety of merchandise, from bolts and screws to washers and clamps. Fasteners aren’t solely utilized in industrial equipment, but additionally development, motor autos, and aerospace tools.

Hundreds of corporations compete on this extremely fragmented international market, together with massive names like Stanley Black & Decker and Berkshire Hathaway.

North America and Western Europe will proceed to account for big shares of the worldwide industrial fastener market, however the large Chinese language market can be experiencing sturdy progress.

Industrial Fastener Trade Statistics

Listed below are 5 key insights to know concerning the $95 billion international industrial fasteners market, based mostly on analysis by The Freedonia Group:

• Market outlook: The worldwide industrial fasteners market is projected to extend at a compound annual progress charge of 4.7%, reaching a price of $119 billion by 2027.
• Value fluctuations: Value will increase for industrial fasteners are anticipated to ease as the availability of supplies stabilizes, however costs will stay elevated as a consequence of elevated labor prices and different inflationary pressures.
• Regional traits: China and Taiwan will proceed main international manufacturing of business fasteners regardless of commerce restrictions.
• Materials sorts: In 2022, metal and stainless-steel have been the dominant supplies, accounting for 75% of the entire demand. Plastics made up 14%, whereas the remaining 11% was distributed amongst aluminum, copper-based, and different nonferrous metals.
• High industrial fastener corporations: In 2022, the 5 largest international suppliers of business fasteners have been ITW, Stanley Black & Decker, Berkshire Hathaway, Nifco, and LISI.

For extra data, please see the international industrial fasteners trade examine by The Freedonia Group, which incorporates professional knowledge associated to fasteners market sizing, forecasts, regional traits, firm market share, and different precious data to assist strategic decision-making.

About The Freedonia Group

The Freedonia Group, a division of MarketResearch.com, is a premier worldwide enterprise analysis firm, offering purchasers with product analyses, market forecasts, trade traits, and market share data. From one-person consulting companies to international conglomerates, our analysts present corporations with unbiased, dependable trade market analysis and evaluation to assist them make necessary enterprise selections.