The global structural wood screws market size was estimated at USD 4.3 billion in 2022 and is expected to register a compound annual growth rate (CAGR) of 5.1% from 2023 to 2030. The market is expected to be driven by increasing construction activities in various regions such as Asia Pacific, Europe, and North America. Structural wood screws are highly preferred in construction projects to fasten wood-to-wood or wood-to-other materials such as steel and metals. The investments in the global construction industry are increasing, which in turn is anticipated to surge the number of construction projects. According to Oxford Economics, the overall output of the global construction industry was USD 10.7 trillion in 2020 and is expected to witness a growth of approximately 42% in the coming years to reach a projected size of USD 15.2 trillion by 2030.
Over the next ten years, the global construction industry is anticipated to register an average annual growth of 3.6%, outpacing both the manufacturing and services industries. This is anticipated to drive the demand for structural wood screws, thereby leading to the growth of the market globally over the forecast period.
Structural wood screws are considered ideal substitutes for various conventional screws such as lag and wood screws, which is further expected to propel the demand for the product globally. The product is considered a heavy-duty fastener and ensures more secure and stronger bonds when compared to traditional screws. These screws can be installed without pre-drilling a pilot hole, which saves a lot of time. The product is used for various applications such as timber construction, log, framing, deck construction, fastening wood-to-wood, and cabinet construction.
Stainless steel is highly preferred for manufacturing structural wood screws owing to its various attributes such as durability, resistance to corrosion, and high strength. Furthermore, carbon steel is used for manufacturing structural wood screws owing to its ability to bear loads and its high tensile strength. In addition, products made from carbon steel are relatively less expensive compared to stainless steel structural wood screws, which is expected to increase the demand for carbon steel structural wood screws in the market.
The U.S. accounted for a significant share of the structural wood screws market in North America in 2022. Increasing investments in public infrastructure development projects in the country are expected to drive the demand for the product in the U.S. in the coming years. Additionally, the construction industry in the country is expected to witness high growth over the forecast period. This, in turn, is predicted to drive the demand for the product in the U.S., owing to the wide applicability of the product in the construction industry.
Technical innovations and improvements in the production processes of the product have resulted in the development of products with high durability and strength. Manufacturers are adopting various production processes such as cold forming, in order to improve the quality of the product. Moreover, numerous domestic and international players focus on achieving a stronghold in the market by offering their products at competitive prices. They also emphasize the adoption of effective pricing strategies to maintain their presence.
Leading manufacturers of structural wood screws include SFS Group, Simpson Strong-Tie, Grip-Rite (PrimeSource Building), TR Fastenings, The Hillman Group, Inc., MiTek, and Kyocera Senco. The global market also has various medium- and small-sized manufacturers of structural wood screws that offer products to cater to the requirements of local markets. The competition is intense owing to low product differentiation. In addition, the presence of several raw material suppliers and the easy manufacturing process of screws result in new entrants, thereby surging the intensity of the competition prevailing in the market.
The stainless steel structural screws segment dominated the market and was valued at USD 3.3 billion in 2022. This material can resist external and internal hydrogen-induced cracking. Additionally, a layer of chromium oxide, which is formed at the external surface of stainless steel structural wood screws, provides them with self-repairing capability, thereby increasing their global demand.
Stainless steel structural wood screws are used in construction, home decor, DIY, and remodeling of homes. They are highly preferred in outdoor applications such as in the development of decks owing to their anti-rusting and -corrosion properties. Moreover, these screws also enhance the aesthetic appeal of products developed using them. All these factors are further expected to surge the demand for stainless steel structural wood screws for usage in furniture and home décor applications.
The carbon steel segment of structural wood screws is projected to reach USD 1.4 billion by 2030, at a CAGR of 5.7% over the forecast period. Structural wood screws manufactured from carbon steel possess high load-bearing and tensile strengths. In addition, carbon steel structural wood screws are good at resisting abrasion and retaining their original shape. This makes them a preferred choice as fastening materials for heavyweight wood structures.
Carbon steel structural wood screws lack the property of corrosion resistance; however, they are considered more durable and stronger than stainless steel screws. This increases the application of carbon steel structural wood screws in heavyweight wood structures. Moreover, the adoption of carbon steel screws is expected to grow over the forecast period owing to their low costs.
The construction segment dominated the market by capturing a revenue share of 69.8% of the total market in 2022 and it is expected to be the fastest-growing segment at a CAGR of 5.4% by 2030. The flourishing commercial, residential, and retail segments worldwide are driving the growth of structural wood screws in construction. In addition, surging investments by governments of different countries in their respective construction industries are expected to drive global construction activities. This, in turn, is anticipated to fuel the growth over the forecast period.
Increasing investments in commercial constructions such as hotels, hospitals, and educational institutes are also projected to have a positive impact on the industry growth over the forecast period. New residential and commercial construction projects are opting for structural screws as they provide long-term solutions for wood framings. The product is manufactured with stainless steel, which is corrosion-resistant and capable of maintaining its original state for a long time. Although the product is comparatively expensive owing to its build-in properties, rising consumer disposable incomes and living standards of people have further added to the demand for the product.
The furniture and crafts application segment is anticipated to be worth USD 1.53 billion by 2030. Growing population, increasing consumer disposable income, rapid urbanization, and changing consumer lifestyles are expected to influence the demand for furniture, thereby positively impacting the demand for structural wood screws.
Structural screws are used in manufacturing furniture and crafts related to wood. The rising global demand for personal computer cabinets at home and workplace is also expected to propel the demand for the product for manufacturing furniture. Additionally, the growing demand for space-saving, multifunctional, and flat-pack furniture is further expected to drive the demand for structural wood screws.
Europe dominated the structural wood screws market with a revenue share of 39.5% in 2022. The region has well-established construction and furniture industries owing to the presence of extensive investors. According to the European Commission, the economy of the region highly depends on its construction industry. In 2021, according to Construction Europe, the total revenue generated by top construction companies in Europe was USD 46.53 trillion. This is expected to drive the growth of the construction industry in Europe, thereby fueling the growth of the market in the region.
In Europe, Italy is expected to register the fastest CAGR of 4.6% from 2023-2030. The construction industry in the country is witnessing significant growth owing to increasing investments. Investments in the construction industry in the country rose by 16.4% in 2021 compared with the investments witnessed by this industry in 2020. Moreover, the country is the fourth-largest furniture maker in the world and one of the top exporters of furniture worldwide. This is anticipated to fuel the growth of the construction and furniture industry in Italy in the coming years, thereby surging the demand for structural wood screws over the forecast period.
The Asia Pacific structural wood screws market is poised to expand significantly at a CAGR of 6.3% over the forecast period. The increasing construction of commercial & residential buildings and infrastructure in the region is propelling the growth of the construction industry. In addition, the rising disposable income of consumers in developing countries in the region such as India and China has resulted in a surge in spending on interiors such as furniture. This is expected to increase the demand for the product in the region.
Middle East structural wood screws market is anticipated to be the fastest-growing with a CAGR of 7% over the forecast period. The ongoing investments in the residential, commercial, and hospitality sector by developing countries is the key factor driving the demand for construction activities, which in turn, is leading to the growth of the product in the region. The furniture industry in some countries such as Saudi Arabia is also flourishing, giving a positive drive to the demand for structural wood screws in the region.
The key players operating in the global structural wood screws market include SFS Group, Grip-Rite, Fischer, Simpson Strong-Tie, Rothoblaas, Eurotec, GRK Fasteners, KYOCERA SENCO EMEA B.V., Fastenmaster, MITEK INC., Hillman, TR Fastenings, Forch, Dresselhaus, and Friulsider SPA. The global structural wood screws market is characterized by strong competition owing to the presence of prominent manufacturers. The manufacturers compete with each other based on the quality and costs of their products to increase their applications in the construction, framing, deck construction, and structural interior panel spaces. Some of the prominent players in the global structural wood screws market include:
SPAX International GmbH & Co. KG
Market size value in 2023
USD 4.4 billion
Revenue forecast in 2030
USD 6.2 billion
CAGR of 5.1% from 2023 to 2030
Base year for estimation
Actual estimates/Historical data
2018 - 2021
2023 - 2030
Volume in kilotons, revenue in USD million, and CAGR from 2023 to 2030
Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Type, application, region
North America; Europe; Asia Pacific; Central & South America; Middle East & Africa
U.S.; Canada; Mexico; U.K.; Germany; France; Russia; Italy; India; China; Japan; South Korea; Singapore; Brazil; Argentina; Colombia
Key companies profiled
SPAX International GmbH & Co. KG; SFS Group, Grip-Rite; Fischer; Simpson Strong-Tie; Rothoblaas; Eurotec; GRK Fasteners; Kyocera Senco.; Fastenmaster; MITEK INC.; Hillman; TR Fastenings; Forch; Dresselhaus; Friulsider SPA; Kreg; FastCap; Wurth; Fastenmaster; Big Timber; Camo Fasteners
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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 2018 to 2030. For the purpose of this study, Grand View Research has segmented the global structural wood screws market report on the basis of type, application, and region:
Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Furniture and Crafts
Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Central & South America
b. The global structural wood screws market size was estimated at USD 4.3 billion in 2022 and is expected to reach USD 4.4 billion in 2023.
b. The structural wood screws market is expected to grow at a compound annual growth rate of 5.1% from 2022 to 2030 to reach USD 6.2 billion by 2030.
b. Stainless steel structural wood screws segment dominated the market in 2022 with the revenue of USD 3.3 billion owing to its ability resist external as well as internal hydrogen-induced cracking.
b. Some of the key players operating in the structural wood screws market include SPAX International GmbH & Co. KG, SFS Group, Grip-Rite, Fischer, Simpson Strong-Tie, Rothoblaas, Eurotec, GRK Fasteners, Kyocera Senco, and Fastenmaster.
b. The key factors that are driving the structural wood screws market includes growth of construction and furniture industry, which is resulting in increased demand for structural wood screws for fastening of wood-to-wood or wood to some other materials such as steel and metal.
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