Massive surge in construction activities due to rapid industrialization to boost the market growth

Industrial fasteners refer to specific hardware devices and tools used to connect or affix two or more mechanical parts, usually permanently or temporarily. Generally, fasteners, such as nuts, screws, bolts, studs, hinges, handles, rivets, and knob flanges, are used to create non-permanent hinges or joints, and these are commonly found in most households. However, industrial fasteners are made of stainless steel and are protected by corrosion-proof coatings or paints. They have a widespread application in making buildings, furniture, vehicles, light fixtures, industrial utilities, process equipment, and a wide range of commercial and consumer appliances. The most widely used industrial fasteners include adhesives, welding materials, sealants, gaskets, sockets, stampings, washers, spacers, springs, pins (cotter, coiled, dowel, spring, slotted, grooved), adjustable levers, rod ends, thread lockers, thread repair kits, strap clamps, eyebolts, ring clips, U-nuts, U-clips, J-nuts, flat nuts, and twin nuts.

Stainless steel is the material of choice for industrial fasteners due to its toughness and resistance to corrosion and extreme temperatures. Industrial fasteners could also be made of several other materials, such as copper, non-carbon steel, and even plastic. Fasteners made of plastic are usually less demanded and are used to fasten upholstery in vehicles, join small mechanical or electronic appliance parts, and various decorative purposes. Plastic fasteners are injection molded and have relatively less industrial applications, whereas steel fasteners are cold worked. Industrial fasteners made of other metals, including brass, bronze, and titanium, are heated and cast. Cold working processes, in which metals are not heated, ensure the fastener’s strength and durability, while hot working processes involve heating the metal at high temperatures to make the fasteners sturdy, resilient, and heard-wearing. Aerospace-grade industrial fasteners significantly differ from their commercial-grade counterparts in terms of performance, quality, resistance, raw material type, and technical specifications. Hence, internally threaded industrial fasteners offer improved performance and resilience and are widely deployed for building industrial machinery, automobiles, and trains and railway tracks.

The global industrial fasteners market growth is foreseen to gain momentum in the forthcoming years, owing to a slew of growth-influencing factors. Rapid urbanization and industrialization in developed and developing countries across the globe and the surging demand for industrial fasteners across the automotive, construction, packaging, aerospace, and electronics industries are some of the critical parameters contributing to the global industrial fasteners market development. Moreover, escalating sales of vehicles, increasing disposable incomes, rising expenditure on housing and household maintenance, technological advancements, and increasing construction activities worldwide are the other significant market growth propellers. The leading competitors in this market include Acument Intellectual Properties, LLC, Bulten AB, Arconic, Hilti, Illinois Tool Works Inc., STANLEY Engineered Fastening, MacLean-Fogg, Kyocera Corporation, MISUMI Group Inc., LISI SA, Penn Engineering, Precision Castparts Corp, Nifco Inc., SFS Group, A & G FASTENERS Pty. Ltd., MW Industries, Inc., and Stanley Black & Decker, Inc. In May 2019, Kyocera Corporation acquired the top U.S.-based industrial fasteners manufacturer SouthernCarlson, Inc. to help the company expand its business across North America. The acquisition allowed the company to cater to the surging demand for industrial fasteners and tools for packaging and facility supplies.

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