Fasteners Market Analysis - New Opportunities Explored, Expansion at High CAGR Anticipated by 2028: Radiant Insights, Inc.

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Dec 03, 2019, 04:40 ET

SAN FRANCISCO, Dec. 3, 2019 /PRNewswire/ -- The global fasteners market is expected to grow at a substantial CAGR in the years to come. This could be attributed to increase in the production of custom manufacturing along with plastic variant's penetration in automotive industry. The latest trend in this regard is gears shifting toward manufacturing innovative products like miniature, hybrid, and specialty fasteners for tapping the alternating set of customers. Furthermore, inorganic growth practices like mergers and acquisitions are being tried out for increasing production capacities, geographical reach, and product variation; thereby establishing a strong foothold overall.

North America leads the fasteners market due to the fact that the U.S. is heavily involved in high volume export and import trading in the global market. Its import partners are inclusive of South Korea, Canada, Germany, Japan, Taiwan, China, France, Mexico, and India. Players like Acument Global Technologies, Illinois Tool Works, Inc., and ATF Inc. augment the in-house production. Fasteners are subject to quality checks with respect to standards like JIS, DIN, BS, ASME, and ASTM. On failing to adhere to these standards, consumers are rightfully entitled to claim compensation from manufacturers.

Download PDF to know more details about "Fasteners Market" report 2028.

On the other hand, metal fasteners getting substituted by tapes and adhesives is the factor restraining the market. This true in case of automotive industry in particular. However, in the long run, impact resistance provided by metal grade products is expected to mitigate this restraint. The fasteners market is segmented by raw material, product, application, and geography. By raw material, the market spans metal and plastic. By product, the segmentation goes like aerospace grade, none threaded, internally threaded, and externally threaded. By application, the market spans aerospace, automotive, building & construction, industrial machinery, motors and pumps, furniture, plumbing products, lawn and garden, and others. By geography, the market, apart from North America and Asia Pacific, says Europe, Central & South America, and MEA.

The players contributing to the fasteners market include Arconic; Penn Engineering & Manufacturing Corporation; Illinois Tool Works, Inc.; MW Industries Inc.; and Stanley Black & Decker.

This report provides detailed historical analysis of global market for Fasteners from 2013-2018, and provides extensive market forecasts from 2019-2028 by region/country and subsectors. It covers the sales volume, price, revenue, gross margin, historical growth and future perspectives in the Fasteners market.

Access 115 page research report with TOC on "Fasteners Market" available with Radiant Insights, Inc. @ https://www.radiantinsights.com/research/2013-2028-report-on-global-fasteners-market

Leading players of Fasteners including:

Shanghai Prime Machinery
Gem-Year
Boltun
Changshu City Standard Parts
Xingyi Fasteners
Jiaxing Brother
Ningbo Jinding
Zhejiang Zhapu
Tianbao Fastener
Tong Hwei
Ruibiao
SHBC
Xinxing Fasteners

Market split by Type, can be divided into:

Steel Type
Cooper Type
Aluminum Type
Other

Market split by Application, can be divided into:

Automotive Industry
Machinery Industry
Construction Industry
MRO
Others

Market split by Sales Channel, can be divided into:

Direct Channel
Distribution Channel

Market segment by Region/Country including:

North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Spain etc.)
Asia-Pacific (China, Japan, Korea, India, Australia and Southeast Asia etc.)
South America Brazil, Argentina, Colombia and Chile etc.)
Middle East & Africa (South Africa, Egypt, Nigeria and Saudi Arabia etc.)

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SOURCE Radiant Insights, Inc.