The global Industrial fasteners market is expected to reach USD 136.9 billion by 2027, growing at a CAGR of 5.3% during 2020 -2027. Factors propelling the growth of fasteners market include; Rising demand for fasteners from the automotive and aerospace industry, and rapid increase in construction and manufacturing activities in the emerging economies.

A fastener can be a screw, nut, bolt or stud with external or internal threads. Although, there are numerous types of fasteners, the basic function of all the fasteners is to join or connect at least two objects together. These fasteners can be made of different materials, however most of them are made of carbon steel, alloy steel, or stainless steel. Fasteners made from titanium, and aluminum generate demand from the aerospace industry mostly.

The fasteners market growth is aided by huge demand from the aerospace and automotive industry. The aerospace sector has witnessed high growth rate over the years. As fasteners form an integral part of the aircraft assembly process, the growth has led to increased demand for fasteners as well. The rapid increase in manufacturing and industrial activites in the emerging  economies has also impeded the global fasteners market growth.

The Industrial fasteners market is segmented by Raw Material ( metal fasteners, plastic fasteners), Type  (Threaded, Non-threaded, Specialty), by End Use( Automotive, Construction, Furniture, Aerospace, Others), and Regions( North America, Europe, Asia-Pacific, Central & South America, and Middle-East & Africa).

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Industrial Fasteners Market Size, Demand Outlook, COVID-19 Impact, Trend Analysis by Raw Material (Metal Fasteners, Plastic Fasteners), by Type (Threaded, Non-threaded, Specialty), by End Use, and Industry Estimates 2021-2027 –  “https://quantalignresearch.com/industrial-fasteners-market-report “

Key insights: 

• Based on type, threaded fasteners segment is expected to dominate the global industrial fasteners market during 2021-2027
• The growth in the non-threaded fasteners segment is driven by the increasing demand from the electronics industry
• Asia-Pacific is projected to grow at the highest CAGR during the forecast period

Key players operating in the Industrial fasteners market includes: Illinois Tool Works Inc., Precision Castparts Corp., LISI Group., NIFCO INC., Stanley Black & Decker, Häfele America Co., BeA Fastening Systems Ltd, Sugatsune Kogyo Co., Ltd., Richelieu Hardware Ltd., Rockler Companies, Inc., Woodcraft Supply LLC., Hillman Group Inc, among others.