Australia And New Zealand Industrial Fasteners Market Size, Share & Trends Analysis Report By Raw Material (Metal, Plastic), By Product, By Application (Residential, Aerospace & Defense), And Segment Forecasts, 2022 - 2030

Report Overview

The Australia and New Zealand industrial fasteners market size was estimated at USD 883.6 million in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. The growth is expected to be driven by rising construction activities due to rapid urbanization and industrialization. This is expected to increase the number of new projects, primarily in the commercial and industrial construction sectors. Due to the outburst of COVID-19 in early 2020, the trade between domestic and international trade was interrupted resulting in a disruption of the supply chain activities.

This also affected the construction activities and manufacturing operations across the industries and hampered the demand for industrial fasteners used in various applications including aerospace & defense and construction. The externally threaded product segment dominated the market and accounted for 52.9% of the revenue share in 2021. The market is expected to grow due to its characteristics such as high strength, low cost, and durability. Furthermore, increased demand from applications such as automotive, railway, bridges, harbors, and construction is likely to increase the demand.

Various innovations have been made for many applications such as using new alloys for manufacturing industrial fasteners, miniature fasteners to occupy less space, small screw insertion, and installing fasteners during the stamping process. The use of the latest technologies is expected to improve the properties and performance of industrial fasteners.

The rising demand for adhesives in the automotive, construction, and aerospace industries for binding various materials will likely hamper the demand for industrial fasteners over the forecast period. The advanced acrylic adhesive technology used in pressure-sensitive tapes is becoming the preferred bonding solution in several applications across diverse industries. These technologies are increasingly replacing mechanical fasteners, which is expected to negatively impact market growth.

The market players are engaged in the manufacturing and distribution of industrial fasteners available in various sizes, forms, and grades to cater to the demand from residential and commercial construction, aerospace & defense, automotive, oil & gas, mining, bridges, railways, and harbor industries. The players majorly focus on residential construction applications as the product demand is high for these applications.

Raw Material Insights

The metal segment captured the largest market share of 96.5% in 2021. The metals used for fastener manufacturing include stainless steel, aluminum, carbon steel, nickel, silicon bronze, copper, brass, alloy steel, bronze, and titanium The increased use of industrial metal fasteners in aerospace and automotive applications owing to their high strength, low costs, and increased durability are anticipated to fuel the growth of the market from 2022 to 2030.

The plastic segment of the Australia and New Zealand industrial fasteners market is expected to expand at the highest CAGR of 8.4% over the forecast period. This growth of the segment is attributed to a surge in the usage of plastic fasteners in automotive, construction, and aerospace applications owing to their lightweight, low cost, and improved mechanical strength.

Product Insights

Externally threaded industrial fasteners accounted for USD 468.1 million in 2021. The demand for externally threaded fasteners in New Zealand is likely to grow on account of the high investments in construction and mining industries over the projected period. High investments in shipbuilding and mining sectors in Australia are expected to propel the demand for heavy equipment such as material handling which in turn, is likely to increase the demand for externally threaded fasteners over the forecast period.

The internally threaded product segment is growing at a significant CAGR of 6.8% over the forecast period 2022-2030. The demand for internally threaded industrial fasteners is expected to grow in Australia on account of the expanding automotive industry. Furthermore, the usage of internally threaded fasteners for building railway tracks, rail anchors, and track fastening is expected to drive the demand.

Non-threaded product segment accounted for a market share of 25.6% in 2021 owing to rising demand for non-threaded industrial fasteners in the construction industry for various applications such as subflooring, decking, and roofing is expected to have a positive impact on the industry over the projected period.

Aerospace-grade industrial fasteners is growing at the highest CAGR of 8.7% over the forecast period. Australia and New Zealand exhibit growing industry share for aerospace-grade fasteners on account of the well-established aerospace industry in these countries. The region has emerged as a significant aerospace market, in terms of manufacturing, and therefore, it is witnessing a high demand for fasteners. Increasing investments in the aerospace & defense sector are expected to propel the demand for aerospace-grade fasteners in the region over the forecast period.

Application Insights

The residential construction segment accounted for the largest share in 2021 and is expected to grow at a CAGR of 4.9% over the forecast period. Metal industrial fasteners dominate residential construction, in terms of revenue, owing to their high corrosion resistance and superior strength properties over plastics. Industrial fasteners are primarily used for bonding/attaching and cable management applications.

The mining application segment accounted for USD 108.8 million in 2021 and is growing at the fastest CAGR of 11.8% over the forecast period. This is due to their high corrosion resistance and superior strength properties over plastics. Furthermore, the increasing number of mining fields in Australia and New Zealand is driving the demand for industrial fasteners in the industry.

Automotive OEM is one of the key markets for industrial fasteners and holds over 13.3% of the overall demand for industrial fasteners in 2021. In the automotive industry, the fastener is used for two basic functions, namely bonding and noise, vibration, and harshness (NVH). The high production volume of automotive vehicles across Australia and New Zealand has been a key driver for the growth.

The aerospace and defense application segment is growing at a CAGR of 8.7% over the forecast period. The rapid growth of the aerospace sector in Australia along with the availability of raw materials and higher passenger traffic has compelled aircraft manufacturers to shift their manufacturing bases to this region, which is likely to boost the demand for aerospace fasteners over the projected period.

Key Companies & Market Share Insights

The industry is characterized by strong competition owing to the presence of established companies. Prominent players operating in the Australia and New Zealand industrial fasteners industry include Prendergast Fasteners PTY Ltd., Allthread Industries, EJOT, CMI Fasteners Ltd., and South Australian Fastener Engineers PTY Ltd.

Industry participants are additionally focusing on collaborations with third-party wholesale distributors and suppliers to deliver end-to-end industrial fastener solutions to end users. Manufacturers are engaged in partnerships for increasing their production capacities to cater to the demand from various applications. Some prominent players in the Australia and New Zealand industrial fasteners market include:

• Prendergast Fasteners PTY Ltd.

• Allthread Industries

• EJOT

• CMI Fasteners Ltd.

• South Australian Fasteners Engineers PTY Ltd.

Australia And New Zealand Industrial Fasteners Market Report Scope

Australia And New Zealand Industrial Fasteners Market Segmentation

This report forecasts revenue growth at country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the Australia and New Zealand industrial fasteners market report based on raw material, product, and application:

• Raw Material Outlook (Revenue, USD Million, 2017 - 2030)

  • Plastic

  • Metal

• Product Outlook (Revenue, USD Million, 2017 - 2030)

  • Externally Threaded Fasteners

  • Internally Threaded Fasteners

  • Non-Threaded Fasteners

  • Aerospace Grade Fasteners

• Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Construction

  • Aerospace and Defense

  • Mining

  • Oil & Gas

  • Automotive

  • Utilities

  • Bridge, Railways, and Harbors

  • Other Applications