Dublin, Oct. 06, 2020 (GLOBE NEWSWIRE) -- The "Industrial Fasteners Market - Global Outlook & Forecast 2020-2025" report has been added to ResearchAndMarkets.com's offering.
The industrial fasteners market by revenue is expected to grow at a CAGR of close to 5% during the period 2019-2025.
The global industrial fasteners market suffered a downfall during the COVID-19 crisis as most economic activities were halted during Q1 and Q2 2020. Major revenue-generating end-users of construction, automotive, machinery, and aerospace manufacturing activities were affected, leading to a decline in demand for new fasteners.
The global industrial fasteners market is set to display impressive growth during the forecast period. Increased diversity of substrate materials driven by continuously evolving end-user expectations and the rise of industry 4.0 and IoT are the major factors influencing the growth of the market. Innovative manufacturing, which was once a stronghold of the US and a few European economies such as France, Italy, and Germany, has expanded in emerging economies, with next-generation largescale manufacturing centers planned predominantly in the APAC region.
The same is likely to be significantly complemented by an overwhelming rise in the global automation expenditure. The demand for industrial fastening solutions is driven by tremendous manufacturing and construction growth in countries such as India and China, supported by favorable demographics, large indigenous consumption, and a supportive regulatory and investment environment. The establishment of semiconductor fabs and electronic assembly units in Japan, South Korea, Taiwan, and China, which involve the highest degree of innovations, is set to increase the demand for ingenious and specialty fasteners.
GLOBAL INDUSTRIAL FASTENERS MARKET SEGMENTATION
This research report includes a detailed segmentation by material, type, end-users, and geography. Industrial metal fasteners accounted for the largest share in 2019. These fasteners have high automotive, aerospace, construction, electronics, machinery, and consumer appliances. Manufacturing innovative products such as specialty, miniature, and hybrid fasteners to meet the 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.
The global automotive fasteners market is expected to reach over USD 34 billion by 2025. The adoption of fasteners in both automobile and automobile manufacturing units has grown considerably. With globalization, more foreign players are scaling up their operations and expanding their footprint in APAC and Latin American countries to benefit from favorable FDI and other corporate-friendly policies. Europe and North America are facing increased competition from APAC-based vehicle manufacturers.
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 aluminum are other materials used to manufacture threaded fasteners.
Key Questions Answered:
What is the expected market size of the global industrial fasteners market in 2025?
What are the factors impacting the growth of the market?
What are the drivers, trends, and restraints in the market?
Who are the leading vendors and what are their market shares?
What is the impact of the COVID-19 pandemic on the industrial fasteners market?
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segments
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 COVID Impact
8 Market Opportunities & Trends
8.1 Advancements In CNC, MILLING, AND CAD
8.2 Internationalization In Automobile Segment
8.3 3D Printing and Usage Of New Materials
9 Market Growth Enablers
9.1 Industry 4.0 And Smart Manufacturing
9.2 High Demand In Apac Manufacturing Sector
9.3 Growing Construction Industry Driving Structural Fasteners
9.4 New Airports And Growing Fleet Size
10 Market Restraints
10.1 End-User Variability And Micro Manufacturing
10.2 Global Political And Trade Relations Impact Manufacturing Industry
11 Market Landscape
11.1 Market Overview
11.2 Market Size & Forecast
11.3 Five Forces Analysis
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
13 Fastner Type
13.1 Market Snapshot & Growth Engine
13.2 Market Overview
13.3 Threaded Fasteners
13.4 Non-Threaded Fasteners
13.5 Specialty Fasteners
14.1 Market Snapshot & Growth Engine
14.2 Market Overview
14.7 Consumer Appliance & Furniture
15.1 Market Snapshot & Growth Engine
15.2 Geographic Overview
Stanley Black & Decker
Other Prominent Vendors
Ever Hardware Industrial
Federal Screw Works
Penn Engineering and Manufacturing (TINICUM)
THE (TONG HWEI ENTERPRISE)
For more information about this report visit https://www.researchandmarkets.com/r/rr6qwa
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