Industrial Fasteners Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Global Industrial Fasteners Market Report is segmented by raw material type (metal, plastic), by product type (externally threaded fasteners, internally threaded fasteners, non-threaded fasteners, aerospace-grade fasteners), by application (automotive, aerospace, building and construction, industrial machinery, home appliances, and plumbing products), and by geography (North America, Europe, Asia-Pacific, Latin America, the Middle East, and Africa). The market sizes and forecasts are in terms of value (USD) for all the above segments.

Industrial Fasteners Market Size

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Industrial Fasteners Market Summary
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Study Period 2019 - 2029
Market Size (2024) USD 84.77 Billion
Market Size (2029) USD 108.47 Billion
CAGR (2024 - 2029) 4.26 %
Fastest Growing Market Asia-Pacific
Largest Market Asia-Pacific

Major Players

Industrial Fasteners Market Major Players

*Disclaimer: Major Players sorted in no particular order

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Industrial Fasteners Market Analysis

The Industrial Fasteners Market size is estimated at USD 84.77 billion in 2024, and is expected to reach USD 108.47 billion by 2029, growing at a CAGR of 4.26% during the forecast period (2024-2029).

The market is majorly driven by the rising demand from different industries like construction, automotive, and aerospace.

  • Industrial fasteners are an extensive range of components made up of metal, plastic, alloy, and other materials. They are used in many places to join or hold together two or more objects permanently or semi-permanently. Many of these are mechanical, such as nuts, bolts, studs, hinges, handles, rivets, knobs, flanges, and screws. For industrial applications, fasteners usually have a deep thread. They typically come in varied forms, such as clinched end-cap socket head cap screws, rod threaded with bar, and rolled end-cap unturned tee nuts.
  • The growth of the global industrial sector, wherein the penetration of safety regulations and advanced technologies are increasing significantly, is among the significant factors driving the development of the studied market. Industries such as automotive, manufacturing, aerospace, food, and beverage, among others, have been reporting notable growth in the last few decades. For instance, according to OICA, in 2022, about 85 million motor vehicles were produced globally.
  • Fasteners are extensively used in the construction industry to join multiple objects together in a non-permanent way to avoid their separation, preventing leakage of joints and transmitting loads. In recent years, the construction sector, especially in developing regions such as India, China, and Brazil, has witnessed strong growth, which is anticipated to continue to drive opportunities in the studied market. For instance, according to Odebrecht, a Brazilian company, Brazil's infrastructure construction sector's GDP is anticipated to reach USD 99.2 billion by 2025, from USD 81.3 billion in 2021.
  • Further, the rapid advancement in technology in the aviation industry has led to the production of newer and more durable aerospace fasteners. The hardware helps to effectively hold the parts of commercial airplanes, military aircraft, jets, ballistic missiles, etc., and space-bound rockets.
  • However, an increase in the substitution of metal fasteners for adhesives and tapes in bonding and NVH applications, majorly in the automotive industry, is expected to restrict the market growth.
  • Additionally, the susceptibility of industrial fasteners, especially made of metals, to rust and corrosion, while of plastic fasteners to heat also continues to remain among the major challenges that will impact the studied market's growth during the forecast period.

Industrial Fasteners Market Trends

Metal Segment to Dominate the Market

  • Metal fasteners are manufactured from various materials, such as steel, stainless steel, brass, aluminum, bronze, nickel, copper, titanium, and other non-ferrous metals. The selection of material by the end users is primarily based on considerations such as strength required, presence of corrosive environment, stresses, weight, electrical and magnetic properties, electrical, plating/coating required, expected life, and reusability.
  • Metal fasteners can be manufactured using different fabrication methods, including CNC machining and cold heading. According to Boulons Plus & Precision Bolts, because of its inherent strength properties, workability, and relative cheapness compared to other materials, over 90% of fasteners are made from steel. Additionally, three types of steel are primarily used to manufacture fasteners: alloy steel and low and medium-carbon steel.
  • Common stainless steels used for industrial fasteners include the 200, 300, and 400 series, out of which the 400 series is predominantly used as they offer high corrosion resistance with strength, wear resistance, and increased oxidation properties. These steel classifications are done based on their applicability by the American Iron & Steel Institute (AISI).
  • The increasing activities across various sectors, such as manufacturing, construction, and automotive, drive the demand for metal industrial fasteners. For instance, according to the Federal Reserve, the manufacturing production index reached 102.9 in the United States in July 2023.
  • The growing demand for metal fasteners encourages vendors to expand their presence further. For instance, in July 2023, Commercial Metals Company acquired EDSCO Fasteners LLC from MiddleGround Capital. EDSCO Fasteners is among the leading providers of anchoring solutions for the electrical transmission market, and its offerings include an engineered line of anchor cages, fasteners, and bolts that are primarily manufactured from rebar and used widely to secure high-voltage electrical transmission poles to concrete foundations.
Industrial Fasteners Market:  Monthly Industrial Production Index, United States, Jul 2022 - Jul 2023

The Asia-Pacific Market to Grow Significantly

  • Several multinational and domestic players engaged in automotive, machinery, and Component Manufacturing Operations have increased the product demand across the Asia-Pacific. In addition, the key manufacturing hubs across India and China are further expected to foster market growth due to the rapid expansion of manufacturing operations in these countries.
  • China is one of the largest producers and exporters of industrial fasteners in the region, owing to the presence of several small and medium-scale players. Industry players are investing in R&D and production of plastic and specialty fasteners to cater to application-specific demand by end-users and sustainably in the highly competitive market.
  • In India, the demand for industrial fasteners is led by the strong growth in the automotive sector. Despite the challenges of the pandemic, the Indian automotive industry is recovering steadily, also benefiting from the increasing government investments and initiatives to support this sector.
  • In addition, Manufacturing has emerged as one of the high-growth sectors in India. The Prime Minister of India launched the ‘Make in India’ program to make India a global manufacturing hub. Thus, the demand for industrial fasteners will likely rise in the coming years. For instance, to support localization and reduce import dependency on the auto and other manufacturing sectors, the Indian government has been running several PLI (production-linked incentive) schemes.
  • Japan is also a significant market for industrial fasteners in the Asia Pacific. According to the Fasteners Institute of Japan, The Japanese fastener industry comprises approximately 3,000 manufacturers that produce around JPY 1 trillion (USD 6.9 billion) of fasteners annually. Over the years, the solid economic growth in the region has also strengthened the market.
Industrial Fasteners Market - Growth Rate by Region

Industrial Fasteners Industry Overview

The industrial fasteners market is fragmented and consists of some influential players. Some of these important actors currently manage the market in terms of market share. These significant players with a noticeable share in the market concentrate on expanding their customer base across foreign countries. These businesses leverage strategic collaborative actions to improve their market percentage and profitability. Some key market players include LISI Group, Nifco Inc., Acument Global Technologies, Inc., Hilti Corporation, etc.

In July 2023, Triangle Fastener Corporation (TFC) announced the acquisition of Connective Systems & Supply, Inc. (CSS). In particular, the company acquired the segment of CSS’s business primarily focused on fasteners for metal building, roofing, and mechanical contractors.

In April 2022, LindFast Solutions Group (LSG), a major distributor of specialty fasteners in North America, announced the completion of its purchase of Toronto-based Fasteners and Fittings, Inc. (F&F), which has a leading position in imperial, metric, and stainless steel fasteners market.

Industrial Fasteners Market Leaders

  1. Acument Global Technologies, Inc.

  2. Arconic Corporation

  3. LISI Group

  4. Nifco Inc.

  5. Hilti Corporation

*Disclaimer: Major Players sorted in no particular order

Industrial Fasteners Market Concentration
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Industrial Fasteners Market News

  • March 2022: Birmingham Fastener announced the acquisition of K-T Bolt Manufacturing, Inc. to expand its product offering and manufacturing diversity. Based in Katy, Texas, K-T Bolt Manufacturing provides custom fabrication, in-house heat treating, closed-die forging, and electropolishing.
  • January 2022: Norwegian Dokka Fasteners, a global manufacturer of industrial fasteners, decided to expand its European operations by establishing a manufacturing unit in Klaipėda, Lithuania.

Industrial Fasteners Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions​ and Market Definition​

    2. 1.2 Scope of the Study​

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET INSIGHTS

    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness-Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitutes

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Impact of COVID-19 Outbreak on the Industry

  5. 5. MARKET DYNAMICS

    1. 5.1 Market Drivers

      1. 5.1.1 Strong Revival in the Construction and Automotive Markets

      2. 5.1.2 Rapid Technological Advancement and Increased Spending in R&D

    2. 5.2 Market Challenges

      1. 5.2.1 Increase in the Substitution of Metal Fasteners by Tapes and Adhesives in Some Applications

  6. 6. MARKET SEGMENTATION

    1. 6.1 By Raw Materials

      1. 6.1.1 Metal

      2. 6.1.2 Plastic

    2. 6.2 By Products

      1. 6.2.1 Externally threaded fasteners

      2. 6.2.2 Internally threaded fasteners

      3. 6.2.3 Non-threaded fasteners

      4. 6.2.4 Aerospace grade fasteners

    3. 6.3 By Application

      1. 6.3.1 Automotive

      2. 6.3.2 Aerospace

      3. 6.3.3 Building and Construction

      4. 6.3.4 Industrial Machinery

      5. 6.3.5 Home Appliances

      6. 6.3.6 Plumbing Products

      7. 6.3.7 Other Applications

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia-Pacific

      4. 6.4.4 Latin America

      5. 6.4.5 Middle-East and Africa

  7. 7. COMPETITIVE LANDSCAPE

    1. 7.1 Company Profiles

      1. 7.1.1 Acument Global Technologies, Inc.

      2. 7.1.2 Arconic Corporation

      3. 7.1.3 LISI Group

      4. 7.1.4 Nifco Inc.

      5. 7.1.5 Hilti Corporation

      6. 7.1.6 Stanley Black & Decker, Inc.

      7. 7.1.7 MacLean-Fogg Company

      8. 7.1.8 MISUMI Group Inc.

      9. 7.1.9 Precision Castparts Corp.

      10. 7.1.10 SFS Group

      11. 7.1.11 Illinois Tool Works Inc.

    2. *List Not Exhaustive
  8. 8. INVESTMENT ANALYSIS

  9. 9. FUTURE OUTLOOK OF THE MARKET

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Industrial Fasteners Industry Segmentation

Industrial fasteners are components that join two or more objects permanently or semi-permanent. They include nuts and bolts, threaded rods, structural bolts, machine screws, wedge anchors, washers, rivets, and more in various types and sizes. The market scope includes a detailed analysis of the use of industrial fasteners in the automotive, aerospace, building and construction, industrial machinery, home appliances, and plumbing product segments.

The global industrial fasteners market is segmented by raw material type (metal, plastic), by product type (externally threaded fasteners, internally threaded fasteners, non-threaded fasteners, aerospace grade fasteners), by application (automotive, aerospace, building and construction, industrial machinery, home appliances, plumbing products) and by geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). 

The market sizes and forecasts are in terms of value (USD) for all the above segments.

By Raw Materials
Metal
Plastic
By Products
Externally threaded fasteners
Internally threaded fasteners
Non-threaded fasteners
Aerospace grade fasteners
By Application
Automotive
Aerospace
Building and Construction
Industrial Machinery
Home Appliances
Plumbing Products
Other Applications
By Geography
North America
Europe
Asia-Pacific
Latin America
Middle-East and Africa
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Industrial Fasteners Market Research Faqs

The Industrial Fasteners Market size is expected to reach USD 84.77 billion in 2024 and grow at a CAGR of 4.26% to reach USD 108.47 billion by 2029.

In 2024, the Industrial Fasteners Market size is expected to reach USD 84.77 billion.

Acument Global Technologies, Inc., Arconic Corporation, LISI Group, Nifco Inc. and Hilti Corporation are the major companies operating in the Industrial Fasteners Market.

Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).

In 2024, the Asia-Pacific accounts for the largest market share in Industrial Fasteners Market.

In 2023, the Industrial Fasteners Market size was estimated at USD 81.31 billion. The report covers the Industrial Fasteners Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Fasteners Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

Industrial Fasteners Industry Report

Statistics for the 2024 Industrial Fasteners market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Fasteners analysis includes a market forecast outlook to for 2024 to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Industrial Fasteners Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)