GVR Report cover Industrial Fasteners Market Size, Share & Trends Report

Industrial Fasteners Market Size, Share & Trends Analysis Report By Product (Externally Threaded, Non-threaded), By Raw Material (Plastic, Metal), By Application (Automotive, Aerospace), And Segment Forecasts, 2021 - 2028

  • Report ID: 978-1-68038-351-5
  • Number of Pages: 300
  • Format: Electronic (PDF)

Report Overview

The global industrial fasteners market size was valued at USD 86.12 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028. Increasing production of industrial machinery and components is expected to ascend the penetration of industrial fasteners during the forecast period. Suspension of industrial operations to curb the spread of COVID-19 across the globe affected the product demand in 2020. Moreover, the service and maintenance operations for industrial machinery were impacted, thus hampering the product demand in 2020. However, the manufacturing industry in the U.S. is significantly producing automotive and industrial machinery, thus the product demand remains high in the country. The growing production of lightweight Electric Vehicles (EVs) in the country is likely to positively influence the demand for plastic fasteners and substitutes, including adhesives and sealants.

U.S. industrial fasteners market size, by raw material, 2018 - 2028 (USD Billion)

The market is characterized by the presence of numerous suppliers with high production volumes and wide product portfolios. Fasteners have high demand across major sectors including automotive, construction, machine manufacturing, electronics, shipbuilding, and railways. The technical standards and quality are the key factors to be considered while manufacturing and employing these fasteners in various end-use applications. A rise in the production of commercial aircraft owing to the increase in the number of air passengers across the globe has augmented the demand for specialty-grade fasteners.

Moreover, increasing automotive production, especially in the EVs segment, is expected to offer growth momentum to the market. Application-specific fasteners offered by the manufacturers need to comply with several standards including the American Society for Testing and Materials (ASTM), American Society of Mechanical Engineers (ASME), British Standards (BS), Deutsches Institut fur Normung (DIN), and Japanese Industrial Standards (JIS).

Raw Material Insights

The metal raw material segment accounted for the largest revenue share of more than 91% in 2020 owing to the high demand for metal fasteners. High tensile strength, enhanced lifespan, and durability of metal products are the factors for their popularity in industrial bonding applications. Metal fasteners are manufactured using stainless steel, nylon, aluminum, carbon steel, nickel, silicon bronze, copper, brass, alloy steel, bronze, and titanium. The critical operations performed by the equipment or machines require the usage of materials, which can perform both extreme and normal duty operations. Specialty fasteners are manufactured using materials such as titanium, brass, and bronze, which offer excellent performance under varied conditions including corrosion, vibration, and high impact.

Plastic fasteners are increasingly becoming popular in the automotive and electronics industries over the past few years. Plastic fasteners are manufactured using materials such as Polypropylene (PP), Polyurethane (PUR), Polyvinylchloride (PVC), Polyacrylamide (PA), Polystyrene (PS), Polyethylene (PE), and nylon. Non-standard fasteners can be manufactured by modifying the existing fastener designs, whereas the other types of non-standard fasteners, which here we are referring to as specialty fasteners, have different designs, materials, and head styles as compared to standard fasteners. These products have a high demand from various end-use industries, as the manufacturers are investing in the appearance of the final product along with focusing on durability and superior performance.

Product Insights

The externally threaded product segment accounted for the maximum revenue share of 48.5% in 2020. The segment is likely to maintain its dominance during the forecast period. Bolts and screws are the most commonly used types of externally threaded fasteners. These products are widely used in the automotive, electronics, shipbuilding, railway, and heavy equipment manufacturing industries. Internally threaded fasteners primarily include nuts and inserts. Nuts dominate the internally threaded fasteners segment and are generally used opposite to bolts to stack two or more parts of the structure together. The most commonly used nuts are hexagonal, which find large-scale application in the construction, industrial machinery, railways, cars, and motorcycle manufacturing industries.

Non-threaded fasteners include pins, washers, rivets, hooks, grommets, O-rings, clamps, cable ties, and nails. These products have numerous applications, such as in cable management and wire harnessing, and are also used to secure pipe fittings in the automotive and construction sectors. Plastic non-threaded fasteners are expected to gain high demand in these application industries on account of their low cost and weight. Aerospace-grade fasteners are classified as a separate grade from other industrial fasteners owing to their high quality. These products are required to have high durability to withstand extreme pressures and temperatures. Furthermore, the key criterion for the selection of aerospace-grade fasteners is their weight. Lightweight fasteners with high durability are preferred in aerospace applications.

Application Insights

The automotive application segment accounted for the largest revenue share of more than 30% in 2020. Large-scale production of commercial and passenger vehicles across the globe has supported the growth of the segment. In addition, the growing demand for EVs is expected to increase the production of vehicles across the globe, which, in turn, is likely to boost the demand for fasteners in the years to come.

Global industrial fasteners market share, by application, 2020 (%)

On the basis of application, the market has been segmented into automotive, aerospace, building & construction, industrial machinery, home appliances, lawn & gardens, motors & pumps, furniture, plumbing products, and others. The aerospace segment is estimated to register the fastest CAGR during the forecast years. The aerospace industry requires huge amounts of metal fasteners, which are generally manufactured using high-strength materials, with high impact resistance. The growth of the aerospace manufacturing and MRO segment is expected to propel the product demand over the projected period.

Regional Insights

The Asia Pacific dominated the global market with a revenue share of 42.7% in 2020. The presence of multinational and domestic players engaged in automotive, machinery, and component manufacturing operations has led to the product demand in this region. Major manufacturing hubs in India and China are expected to further drive the market owing to the rapid expansion of manufacturing operations in these countries.

The U.S. was the largest importer in the world in 2020 and is likely to witness a similar trend over the forecast period on account of the high product demand from aerospace and other industrial applications. The aerospace-grade product segment is expected to have the fastest growth over the coming years on account of an increase in military and defense operations in the U.S.

Europe is a prime destination for automotive development. The presence of multinational automakers in the region coupled with enhanced production facilities and innovative manufacturing techniques has assisted the market growth. The adoption of automation in production facilities is further expected to boost the market growth.

The product demand in Germany is likely to grow at a steady rate on account of the growth of the construction and manufacturing sectors. In Europe, Germany stood as the largest industrial manufacturing country, holding over 20% of the overall market share. The country is known for its electronics, machinery, and automotive industries. The automotive industry has been the country's largest consumer of fasteners, and this trend is expected to continue during the projected period.

Key Companies & Market Share Insights

The industrial fasteners market is highly competitive with the presence of a large pool of domestic as well as multinational manufacturers offering high-grade and customized products. The competition is primarily driven by the application scope. A lot of companies in the market provide several specialty products for end-use segments, such as automotive, aerospace parts, and machinery. The competition includes factors like distribution partnerships, technological innovations, product portfolios, strategic developments, and capabilities. Some prominent players in the global industrial fasteners market include:

  • Arconic Fastening Systems and Rings

  • Acument Global Technologies, Inc.

  • ATF, Inc.

  • Dokka Fasteners A S

  • LISI Group - Link Solutions for Industry

  • Nippon Industrial Fasteners Company (Nifco)

  • Hilti Corporation

  • MW Industries, Inc.

  • Birmingham Fastener and Supply, Inc.

  • SESCO Industries, Inc.

  • Elgin Fastener Group LLC

  • Rockford Fastener, Inc.

  • Slidematic Precision Components, Inc.

  • Manufacturing Associates, Inc.

  • Eastwood Manufacturing

  • Brunner Manufacturing Co., Inc.

  • Decker Industries Corporation

  • Penn Engineering & Manufacturing Corporation

  • EJOT

  • Illinois Tool Works, Inc.

  • Stanley Black & Decker, Inc.

  • KOVA Fasteners Pvt. Ltd.

  • Standard Fasteners Ltd.

  • Precision Castparts Corp.

Industrial Fasteners Market Report Scope

Report Attribute


Market size value in 2021

USD 90.79 billion

Revenue forecast in 2028

USD 119.01 billion

Growth rate

CAGR of 4.1% from 2021 to 2028

Base year for estimation


Historical data

2017 - 2019

Forecast period

2021 - 2028

Quantitative units

Revenue in USD million/billion and CAGR from 2021 to 2028

Report coverage

Revenue forecast, company ranking, competitive landscape, growth factors, and trends

Segments covered

Raw material, product, application, region

Regional scope

North America; Europe; Asia Pacific; Central & South America; Middle East & Africa

Country scope

U.S.; Canada; Mexico; Germany; Spain; France; China; India; Japan; Indonesia; South Korea; Thailand; Malaysia; Brazil; Argentina; UAE; Saudi Arabia; South Africa

Key companies profiled

Arconic Fastening Systems and Rings; Acument Global Technologies, Inc.; ATF, Inc.; Dokka Fasteners A S; LISI Group; Nippon Industrial Fasteners Company (Nifco); Hilti Corporation; MW Industries, Inc.; Birmingham Fastener and Supply, Inc.; SESCO Industries, Inc.; Elgin Fastener Group LLC; Rockford Fastener, Inc.; Slidematic Precision Components, Inc.; Manufacturing Associates, Inc.; Eastwood Manufacturing; Brunner Manufacturing Co., Inc.; Decker Industries Corporation; Penn Engineering & Manufacturing Corporation; EJOT; Illinois Tool Works, Inc.; Stanley Black & Decker, Inc.; KOVA Fasteners Pvt. Ltd.; Standard Fasteners Ltd.; Precision Castparts Corp.

Customization scope

Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope

Pricing and purchase options

Avail customized purchase options to meet your exact research needs. Explore purchase options


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For the purpose of this study, Grand View Research has segmented the global industrial fasteners market report based on raw material, product, application, and region:

  • Raw Material Outlook (Revenue, USD Million, 2017 - 2028)

    • Plastic

    • Metal

  • Product Outlook (Revenue, USD Million, 2017 - 2028)

    • Externally Threaded

    • Internally Threaded

    • Non-threaded

    • Aerospace Grade

  • Application Outlook (Revenue, USD Million, 2017 - 2028)

    • Automotive

    • Aerospace

    • Building & Construction

    • Industrial Machinery

    • Home Appliances

    • Lawn and Garden

    • Motors and Pumps

    • Furniture

    • Plumbing Products

    • Others

  • Regional Outlook (Revenue, USD Million, 2017 - 2028)

    • North America

      • U.S.

      • Canada

      • Mexico

    • Europe

      • Germany

      • Spain

      • France

    • Asia Pacific

      • China

      • India

      • Japan

      • South Korea

      • Indonesia

      • Thailand

      • Malaysia

    • Central & South America

      • Brazil

      • Argentina

    • Middle East & Africa

      • UAE

      • Saudi Arabia

      • South Africa

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