STAMPING FASTENERS MARKET ANALYSIS

Stamping Fasteners Market – by Material (Stainless steel, Alloy Steel, Brass, Aluminum, and Copper), by Product Type (Nuts, Tapping plates, U-clips, Bolts, and Custom Stamped components), by End-use Industries (Automotive, Electrical, Electronics, Medical, and Construction), By Region (North America, South America, Europe, Asia Pacific, and Middle East & Africa) – Size, Share, Outlook, and Opportunity Analysis, 2022-2028

Market Dynamics:

Less time taken by stamping process as compared to other methods to prepare joints such as clinching is major driver for stamping fastener’s market growth. According to report of Industrial Fasteners Institute (2016), global fastener demand was US$ 69.6 billion in 2015, and is expected to witness growth rate of 2.4% over the forecast period. This in turn is expected to drive growth of the stamping fasteners market, as precision stamping is a fast and cost-effective solution for manufacturing large quantities of products.

Market Outlook:

Asia Pacific region is expected to account for the highest market share in global stamping fasteners market due to growing construction and automotive sectors in emerging economies such as India. According to India Brand Equity Foundation (IBEF) report (September 2018), Indian construction equipment market is projected to reach US$ 7 billion by 2020 from US$ 4.2 billion in 2017, whereas turnover of Indian auto components industry grew 18.3% to reach US$ 51.2 billion in 2017-18 from US$ 43.5 billion in 2016-17. Growth of such end-use industries is expected to boost the stamping fasteners market growth.