Industrial Fasteners Market, By Raw Material (Metal and Plastic), By Product (Externally Threaded, Internally Threaded , Non Threaded , and Aerospace Grade), By Application (Automotive, Aerospace, Building & Construction, Industrial Machinery, Home Appliances, Lawn & Garden, and Motors & Pumps), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Jul 2024

Code : CMI5206

Pages :179

Formats :

Excel and PDF

Industry : Advanced Materials

Regional Analysis

Industrial Fasteners Market Regional Insights

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North America has established itself as the dominant region in the global industrial fasteners market. The region is expected to account for 38.7% of the market share in 2024. The region is home to well-established manufacturing industries, such as automotive, machinery, aerospace, and defense, which are the key end users of industrial fasteners. Several leading fastener manufacturers, such as Acument Global Technologies, Illinois Tool Works, and Stanley Black & Decker, hail from the region and have strong production footprint and supplier network within North America. Moreover, the presence of major OEMs and their dedicated supply chain further strengthens the demand for quality fasteners. Stringent quality and specifications adopted by the industrial and automotive sectors also ensure the premium pricing for fasteners. Despite competition from Asian markets, fastener producers have been able to consistently charge higher prices backed by technological superiority and reliability. Export of specialized fasteners has additionally boosted the regional market growth.

The industrial fasteners market in the Asia Pacific region has been witnessing the fastest growth over the past few years. Countries like China, India, Japan, and South Korea have immense production facilities for the automotive, machinery, and other core industries. This has provided the necessary platform for the expansion of the industrial fastener market. End users seek to reduce production costs and opt for domestic or local fastener suppliers in Asia Pacific. This has encouraged many foreign players to set up local manufacturing units or form collaborations. As a result, the regional market has benefitted from investments in manufacturing, substantial import-export activities and job opportunities. Simultaneously, the availability of raw materials and affordable labor has kept the overall costs low. Several Chinese and Indian companies have emerged as global suppliers by leveraging these advantages. Additionally, the growing infrastructure and construction activities across Asia Pacific create supplementary demand for infrastructure-grade fasteners used in applications like bridges, tunnels, ships, etc.