FOCUS ON FASTENERS
changing consumer demand will complement growth . However , the substitution of metal fasteners with adhesives and tapes in bonding and NVH applications , especially in the automotive industry , is expected to hamper the growth of the industrial fasteners market ,” it added .
According to the report , the global automotive fasteners market is expected to reach over US $ 34 billion by 2025 . The demand for threaded fasteners is likely to grow at a CAGR of over 4 % during the forecast period owing to their increasing application in construction , industrial machinery , railways , cars and motorcycle manufacturing . Innovations in design to provide better performance and vibration resistance are projected to have a positive impact on the market . Stainless steel is the most common material used for manufacturing threaded fasteners . Brass , alloy steel and aluminium are other materials used to manufacture them .
According to research by Arizton , the industrial fasteners market is projected to reach revenues of US $ 117 billion by 2025 . The U . S . fastener market is likely to reach a revenue mark of over US $ 23 billion by 2025 due to increases in automotive , aerospace , machine manufacturing , building and infrastructure construction activities . APAC and North America , the top two markets for metal fasteners , will account for 63 % of incremental revenue through to 2025 . “ The overall metal fasteners segment is likely to reach close to US $ 101 billion by 2025 driven by the popularity of specialty , miniature and hybrid fasteners . The global industrial
TR Fastenings launched a new range of fasteners for the medical sector last year .
APAC and North America , the top two markets for metal fasteners , will account for 63 % of incremental revenue through to 2025
fasteners market is highly fragmented with no major vendors taking up a significant share in the market – the leading eight players account for around 20 % of market share . In terms of revenue addition through to 2025 for the global threaded fasteners segment , APAC has potential to match the cumulative revenue increment from Europe and North America ,” added the analyst .
Industrial metal fasteners accounted for the largest share in 2019 . The global aerospace parts market is expected to grow at a CAGR of around 6 % during the period . The demand for threaded fasteners is likely to grow at a CAGR of over 4 % during the forecast period owing to their increasing application in construction , industrial machinery , railways , cars and motorcycle manufacturing . Innovations in design to provide better performance and vibration resistance are projected to have a positive impact on the market . n