Industrial Fasteners Market

Analysis by Product Type (Non-Threaded, Internally Threaded, Externally Threaded, and Aerospace Grade); by Material Type (Metals and Plastic); by Industry (Automotive, Aerospace, Food Processing, Construction, Marine, Power Generation, Nuclear Power Plants, Oil & Gas, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2033

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Report ID: 4430 | Published On: Feb 27, 2023
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Global Industrial Fasteners Market Size, Forecast, and Trend Highlights Over 2023 - 2033

The global industrial fasteners market is estimated to garner a revenue of ~USD 120 Billion by the end of 2033 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2033. Further, the market generated a revenue of ~USD 80 Billion in the year 2022. The growth of the market can primarily be attributed to the growing industrial production worldwide. Industrial fasteners are a primary ingredient in industrial production owing to their great advantages. Thus, the increased rate of industrial production is projected to bring lucrative growth opportunities in the market size. For instance, in European Union there was an increase of 8% in the production of manufactured goods in 2021 compared with 2020, reaching ~108%.


With the increasing production of vehicles, the demand for industrial fasteners is on the rise amongst automobile manufacturers, which in turn, is expected to create massive revenue generation opportunities for the key players operating in the global industrial fasteners market during the forecast period. The production rate of vehicles escalated in the recent years with the manufacturing of vehicles increasing from approximately 77 million vehicles in 2020 to around 80 million vehicles in 2021, as per the data stated by the International Organization of Motor Vehicle Manufacturers (OICA).  Furthermore, the market is anticipated to be driven growing population coupled with their high demand for building infrastructures. With the growth in the construction industry, the demand for industrial fasteners is expected to increase owing to their high utilization for joining two or more materials together to increase strength and precision. Also, the rapid technological advancement in the aviation industry is projected to bring growth opportunities for durable industrial fasteners. In addition to the aforementioned factors, the increased need for industrial fasteners in railroad and light rail transportation systems for a growing passenger base is also projected to create a positive outlook for market expansion.

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Global Industrial Fasteners Market: Key Insights

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 80 Billion

Forecast Year Market Size (2033)

~ USD 120 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Industrial Fasteners Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Medical Device Manufacturing Industry – Rapidly growing medical device industry has seen an increase in the demand for fasteners. Monitoring equipment, such as ventilators and respiratory systems, all require very specific assembly, including fasteners. Increasing manufacturing of medical devices worldwide is expected to propel the industrial fastener market in the forecasted period. It was found that the revenue of the medical device manufacturing industry in China grew by 13% reaching ~USD 29 billion in 2021.

  • Growing Global Aircraft Fleet – The construction of aircraft requires nuts, bolts, rivets, screws, cables, washers, and guides, which are all type of industrial fasteners. Thus, with the increased aircraft fleet, the utilization rate of industrial fasteners is also projected to increase in aircraft structures. It is projected to have ~38000 aircraft by 2032, up from 2022, with ~25,500 aircraft in service worldwide.

  • Upsurge in the Consumption of Energy – For instance, global energy consumption is expected to reach 740 million terajoules by 2040, driving the production capacity of various power generation units.

  • Increasing Production of Chemical Industry - For instance, the overall revenue of the global chemical industry amounted to around 4.5 trillion U.S. dollars in 2021.


  • The Emergence of Other Substitutes for Industrial Fasteners – Rapid industrialization has enabled the availability of other substitutes for industrial fasteners. Adhesives and sealants are the most common substitutes for industrial adhesives that are used in construction processes. However, the easy availability of cost-effective alternatives is expected to hamper the market growth.
  • Challenges of Specifications
  • Possibility of Failure Owing to Vibration, Shock, and Other Environmental Factors

Market Segmentation

The global industrial fasteners market is segmented and analyzed for demand and supply by material type into metals and plastics. Among these two segments, the metals segment is attributed to holding the largest share of the market by the end of 2033, owing to its better resistance power and mechanical strength that is used in railway networks along with the surge in freight trains along with freight traffic worldwide. For instance, it is estimated that global freight traffic is expected rise to ~3 billion tons by 2030 from ~1 billion tons in 2017. Both forms of metal industrial fasteners, such as nuts and bolts, screws, rivets, clamps, and retaining rings, and those that necessitate a sliding sealant, such as quick-release clamps and couplers, are employed in end-use sectors such as construction, automobiles, aviation, oil & gas, marine & offshore, and others. Further, the availability of metal fasteners in stainless steel, aluminum, carbon steel, brass, and copper is anticipated to benefit manufacturing electronics and electronic components.

The global industrial fasteners market is also segmented and analyzed for demand and supply by industry into automotive, aerospace, food processing, construction, marine & offshore, power generation, nuclear power plants, oil & gas, home appliances, and paper & pulp processing. Out of these, the automotive segment is projected to hold the most significant share by end of the forecast period. Industrial fasteners such as stainless steel, iron, nickel, aluminum, plastic, and brass are preferred by automotive manufacturers to produce automobiles. Also, the surge in vehicle production, the increase in usage of electronics in vehicles coupled with the rising focus to produce lightweight vehicles are key factors that are attributed to segment growth and revenue generation in the assessment period.

Our in-depth analysis of the global industrial fasteners market includes the following segments:

       By Product Type

  • Non-Threaded
  • Internally Threaded
  • Externally Threaded
  • Aerospace Grade

        By Material Type

  • Metals
  • Plastic

        By Industry

  • Automotive
  • Aerospace
  • Food Processing
  • Construction
  • Marine & Offshore
  • Power Generation
  • Nuclear Power Plants
  • Oil & Gas
  • Home Appliances
  • Paper & Pulp Processing

Global Industrial Fasteners Market Regional Synopsis

The Asia Pacific industrial fasteners market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2033, backed by the presence of a strong manufacturing network in the region, growing production of industrial fasteners as well as rising export of fasteners in the region. For instance, China’s fasteners export volume was ~3.5 million tons from January to September 2021, which was ~19,.5% more than the previous year. Recent economic growth in the Asia Pacific region is forecasted to expand industries such as automotive, industrial machinery, electronics, and construction which in turn is expected to increase the demand for industrial fasteners for varied purposes. Also, the rising Gross Domestic Product (GDP), coupled with an escalation in disposable income and a burgeoning population has increased the need for enhanced public infrastructures including roads, harbors, airports, and rail transportation networks which are expected to drive market growth in the Asia Pacific region.

On the other hand, the North America industrial fasteners market is also attributed to grow with a steady CAGR rate and hold a significant market share during the forecast period. The high consumption rate of industrial fasteners owing to the presence of a large manufacturing base in the region is considered to be the major factor for market growth in North America. Furthermore, with the rising demand for electric vehicles, passenger cars, and commercial vehicles for transportation by Americans, the use of automotive fasteners is anticipated to raise the sales of industrial fasteners in the upcoming years, Moreover, the increased construction processes to build commercial and residential space is also projected to bring lucrative growth opportunities for market expansion. Increased technological advancement and massive investments in the research and development sector are other factors that are attributed to contributing positively to the enlargement of market size.


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Top Featured Companies Dominating the Global Industrial Fasteners Market

    • Birmingham Fastener & Supply Company, Inc.
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Hilti AG
    • Acument Global Technologies, Inc.
    • Nifco UK Limited
    • Arconic Corporation
    • ATF Inc.
    • Sesco Industries, Inc.
    • Rockford Fastener, Inc.
    • Elgin Fasteners Group
    • Decker Industries Corporation

In The News

  • April 2022: IBSRELA the first and only NHE3 inhibitor for the treatment of irritable bowel syndrome with constipation (IBS-C) in adults, has been made available by the biopharmaceutical company Ardelyx. The first Ardelyx product to receive approval from the US Food and Drug Administration is IBSRELA.
  • March 2022: Indegene a provider of technology-driven healthcare solutions, & meta Me Health, a maker of Regulora and a Prescription Digital Therapeutics (PDT) business, teamed up to offer Regulora as a remedy for irritable bowel syndrome-related stomach pain (IBS).

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the industrial fasteners market?

Ans: Increasing global industrial production as well as rising demand for industrial fasteners in various industries such as automobiles, chemical processing, and others are some of the major factors anticipated to drive the growth of the market.

2) What would be the CAGR of industrial fasteners market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2033.

3) What are the challenges affecting the industrial fasteners market growth?

Ans: Challenges of specifications as well as the possibility of failure owing to vibration, shock, and other environmental factors are some of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of industrial fasteners market in future?

Ans: The market in Asia Pacific is projected to hold the largest market share by the end of 2033 and provide more business opportunities in the future.

5) Who are the major players dominating the industrial fasteners market?

Ans: The major players in the market are Birmingham Fastener & Supply Company, Inc., Hilti AG, Acument Global Technologies, Inc., Nifco UK Limited, Arconic Corporation, ATF Inc., Sesco Industries, Inc., Rockford Fastener, Inc., Elgin Fasteners Group, Decker Industries Corporation, and key players.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the industrial fasteners market?

Ans: The market is segmented by product type, material type, industry, and by region.

8) Which segment captures the largest market size in material type segment in the industrial fasteners market?

Ans: The metal segment is anticipated to garner the largest market size by the end of 2033 and display significant growth opportunities.

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