Marine Application Of Industrial Fasteners Is Poised To

2022-11-30 20:43:31 By : Mr. Dave S.G

April 19, 2022 16:30 ET | Source: FACT.MR FACT.MR

United States, Rockville, MD, April 19, 2022 (GLOBE NEWSWIRE) -- Fact.MR, in a recently revised industrial fasteners industry analysis, reveals that global demand observed a decline of 2.5% in 2020, and stood at 30,060 KT. Demand for polymer fasteners fell by 3.2% to 2,495 KT, whereas, that for metal fasteners experienced a decline of 2.6% to 27,564 KT. 10mm Hex Screw

Marine Application Of Industrial Fasteners Is Poised To

However, the overall market is set to regain traction and expand at a CAGR of around 5% through 2031.

Industrial fasteners are likely to witness significant demand growth owing to high usage in electrical, automotive, and other industrial sectors. Invention of new features such as coatings to fasteners in order to protect them from abrasion and rust are further favouring industry players. According to Fact.MR, focus of suppliers will be on lucrative markets such as the United States, China, Germany, and the United Kingdom, to name a few.

Browse in-depth TOC on "Sales of Industrial Fasteners"

While industry outlook is forecast to remain positive, adoption of advanced processes such as hot-dip galvanizing, zinc, and chrome coatings are set to further widen the growth scope for manufacturers.

According to Fact.MR’s report, the global industrial fasteners market is expected to ascend at over 4% CAGR through 2031.

Download PDF Brochure: https://www.factmr.com/connectus/sample?flag=S&rep_id=5679 

Key Takeaways from Market Study

“With manufacturers bringing in a wider variety of externally and internally threaded industrial fasteners, they are utilizing the huge opportunities across diverse end-use sectors, from automotive to aerospace,” says a Fact.MR analyst.

How is Growing Requirement in Building & Construction Raising the Profit Margins of Manufacturers? Industrial fasteners play a crucial role in promoting safety by joining two or more objects as far as building and construction is concerned. While the industry suffered a setback due to the outbreak of the deadly coronavirus earlier in 2020, the recovery phase is drawing more potential players since the ending of the year.

According to a report titled “Canada- Architecture, Construction, and Engineering”, published by Select USA on 30th September 2019, the Canada construction sector was valued at US$ 126.3 billion, accounting for over 7% of Canada’s Gross Domestic Product (GDP) as in 2019. As stated in the report, the sector purchases goods and services from every region of the country while employing approximately 1.4 million people, as in 2018. This not only indicates the progressive future of the building & construction industry but also new opportunities awaiting industrial fastener manufacturers.

According to China - Country Commercial Guide, China's construction & architectural industry grew 7% from 2015 to 2020, while earnings from this sector reached approximately US$ 220.8 billion in 2020.

Such figures are pointing towards new growth paths for industrial fastener providers across the world.

Who is winning in this Space? With the global industrial fasteners space getting stricter in terms of competition, key players are focusing more on the frequency of product launches in order to capture low-hanging opportunities across regions.

To learn more about Industrial Fasteners Market, you can get in touch with our Analyst at: https://www.factmr.com/connectus/sample?flag=S&rep_id=5679

Key Segments Covered in Industrial Fasteners Industry Research By Material

Get Customization on this Standard Steel Industrial Fasteners Demand Report for Specific Research Solutions at:  https://www.factmr.com/connectus/sample?flag=S&rep_id=5679

More Valuable Insights          In its latest report, Fact.MR offers an unbiased analysis of the industrial fasteners market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of material (plastic and metal), product type (threaded, non-threaded, and aerospace grade), and end user (automotive, building & construction, home appliances, aerospace, and others), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and MEA).

Key Companies Profiled American Fastener Technologies Corporation, American Bolt & Screw, AF Fastener, Acument Global Technologies (Fontana Gruppo), Birmingham Fastener, Delta Fastener Corp., De Walt, Eurofast, Elgin Fastener Group, Extreme Bolt & Fastener, Ford Fasteners, HILTI, Impalabolt, ITW, Johns Manville, KD FASTENERS, LISI Group, Midwest Fastener Corp, Ningbo Qunli Fastener Manufacture Co., Nobel Precision Metal Co., Ocean State Stainless, PCC Fasteners, Penn Engineering & Manufacturing, Rahul Fasteners & Fittings, Raptor Nails & Staples, Reliable Polymer Industries, SA Bolt Manufacturers, Schaaf-GmbH, Shanghai Jianxin Hardware Co., SUNO GROUP LIMITED,, Sure FAS, Sternly Black & Decker

Check out more studies related to Chemical and Materials Industry, conducted by Fact.MR:

Demand Analysis of Flat Glass Market Outlook 2022-2032 - Growth is attributed to an expansion of the solar energy market amid rising environmental concerns, cost reductions for solar installations, advancements in technology, and the growing demand for electricity. Solar cells especially make extensive usage of flat glass in various forms.

Global Metals in Electric Vehicle Charging Infrastructure Market Outlook (2022-2032) - The global sales of metals in electric vehicle charging infrastructure garnered a market value of US$ 1 Bn in 2021 and is expected to register a staggering double digit CAGR of 18% by accumulating a market value of US$ 10 Bn through the assessment period 2022-2032. In 2022, the market is forecast to reach US$ 2 Bn.

Properties of Natural Gelling Agents are Majorly Driving Demand - Demand for natural gelling agents to be used in cosmetics has also seen a significant rise, thus providing a positive outlook to natural gelling agent producers.

About Us: Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact: US Sales Office: 11140 Rockville Pike Suite 400 Rockville, MD 20852 United States Tel: +1 (628) 251-1583

Marine Application Of Industrial Fasteners Is Poised To

Hhp Anchor Corporate Headquarter: Unit No: AU-01-H Gold Tower (AU), Plot No: JLT-PH1-I3A, Jumeirah Lakes Towers, Dubai, United Arab Emirates Email: sales@factmr.com Visit Our Website: https://www.factmr.com