A compound annual growth rate. Together, these projects elevate the market for industrial fasteners among regional and first-tier suppliers. While fasteners compete to some extent with several alternative joining technologies (such as adhesives, welding, and mechanical bonding), there are generally no practical functional reasons to significantly reduce or increase the use of fasteners in product designs in response to short-term economic conditions. They are of two types: one produces a permanent joint that includes nuts and bolts, screws, rivets, clamps and retaining rings from a Fastener Supplier near Billings MT, and the other that requires a sliding adhesive or non-permanent fastening products that can be released, such as clamps and quick-release couplers, intended to remove the specific pins that allow the relative movement of the fixed parts. For more information, see the study on the global industrial fasteners industry conducted by The Freedonia Group, which includes expert data related to fastener market size, forecasts, regional trends, market share of companies, and other valuable information to support strategic decision-making. The North American industrial fastener market is experiencing significant growth, driven especially by its strong presence in the automotive and aerospace industries, as well as the growing adoption of plastic fasteners.
Industrial fasteners primarily refer to high-quality fastening products used in the construction, automotive, aerospace and marine industries. Advances in the motor vehicle market will be further supported by the ongoing transition to electric vehicles, which will require greater collaboration between fastener suppliers and car manufacturers to develop products for new vehicle platforms. The North American market presents a lucrative opportunity as manufacturers and suppliers expand their portfolios to meet demand for lightweight, corrosion-resistant and cost-effective plastic fasteners. The growing demand for lightweight, corrosion-resistant fasteners is creating significant growth opportunities in the industrial fasteners market, driven by advances in industries such as automotive, aerospace, marine and construction.
However, the markets for maintenance and repair fasteners tend to represent a smaller proportion of demand than those of other component supplier companies, because many types of fasteners are designed to last the entire life of the product or structure in which they were originally installed. Asia Pacific is an important hub for aerospace fastener manufacturers who supply industrial fasteners to headquartered aerospace OEMs in North America and Europe.
