Since last decade, Asia-Pacific has evolved as the largest
industrial fastener market, accounting for a significant portion of worldwide fastener production. The primary drivers of this expansion can be attributed to the growing
manufacturing and
automobile sector of India.
Moreover, owing to the increased demand of fasteners in the Indian market, the production of the fasteners is also increasing at an exponential rate. Again, with the assistance of Narendra Modi's 'Make in India' push, the Indian manufacturing sector is likely to produce significant demand for the industrial fasteners market in the coming years. By 2023, the Indian industrial fasteners market is anticipated to be worth 6.3 billion USD.
With an exponential growth in the fastener market, the industry is now also approaching new innovative trends. In this article, let's take a peek at the major ones.
Unconventional Materials to Suit Multifarious Applications
Temperature variations are constant in heavy machinery, automotive equipment, and minute fasteners used in electrical goods. These variations can cause metal deformation, bulging, and overall product degradation in rare circumstances. In the case of electrical items, it is critical to keep the weight of fasteners as low as possible to avoid damage during the final phases of assembly. Such damages result in financial loss and tiredness, which further impedes the flow of activities.
To address these issues, innovative materials like carbon fiber and alloys are being developed. These materials aid in the creation of lightweight, corrosion-resistant, and superconducting industrial fasteners while also being actively investigated for efficacy in a variety of applications and circumstances.
For example - hybrid fasteners composed of metal and injection-molded plastic material can be less expensive, lighter, and easier to install. Plastic fasteners can also be used to color-code electrical equipment, acting as identifying features that signify potential system failure or damage.
Powdered metal is another material that is gaining prominence in the industrial fastening sector. Iron, copper, nickel, bronze, brass, and steel are among the metals and alloys used in powdered metallurgy.