Mounting Demand from Automotive sector to drive the Fasteners Industry

According to recent reports, the industrial fastener market is expected to reach USD 138.7 billion by 2026, expanding at a CAGR of 5.5 percent during the forecast period. The surge in demand for products such as nuts, screws, bolts, rivets, nails and washers from various industries are the major factors anticipated to drive the market growth. This market is anticipated to witness a significant growth in the coming years owing to mounting demand from the automotive sector.

Furthermore, the usage of fasteners in the electrical and electronics industry, aerospace sector, and MRO applications are expected to bolster the market growth. Rise in expenditure in the construction sector is another area where demand for fasteners is predicted to grow to a larger extent. In 2018, the plastic fasteners were accounted for smaller share compared to the metal fasteners, due to its strength and impact resistance, particularly in the heavy-duty applications. Also, a large number of the fastener production is done using steel metal due to its resilient mechanical properties. The increasing demand for internally threaded fasteners is also expected to expand at a CAGR of 3.7 percent over the forecast period. And, this is due to the surge in demand for fasteners from various sectors such as construction, industrial machinery, railways, cars and motorcycle manufacturing.

In this issue, Industry Outlook brings to you the list of Top 10 Fasteners Manufacturers who have made their mark in this domain with their quality products and industry expertise. These companies have kept abreast of the new technological advancements in this segment and have leveraged them to their full potential.

We hope this issue gives you helpful insights into this market landscape.