Industrial Fasteners Market Size, Share, Growth Analysis, By Raw material(Metal, and plastic), By Product (Internally threaded, externally threaded, non-threaded, and aerospace grade), By Application(Automotive, building & construction, aerospace, home appliances), By Region - Industry Forecast 2024-2031

Industrial Fasteners Market size was valued at USD 88.43 billion in 2019 and is poised to grow from USD 92.41 billion in 2023 to USD 131.42 billion by 2031, growing at a CAGR of 4.5% in the forecast period (2024-2031).

Industrial fasteners are hardware devices, and can be used to join two or more objects. The primary role of fasteners is to promote safety by joining joints. Fastener devices, like screws, can be broken down into several sub-categories. They are coach screw, self-drilling screw, pan head, drywall, and self-tapping screw. The industrial fasteners can be used in various places: consumer devices like smartphones and computers; equipment including robotics, medical adhesives, or machines. These are used in construction, automobile, aerospace, and marine industries.

Industrial fasteners market will tremendously grow due to the increasing production of industrial machinery and components during the forecasting years. The increasing requirement of nuts, bolts, nails, screws, and others will create business opportunities in the future. Whereas, the lack of raw materials, such as alloys and stainless steel, is expected to be a challenge for the industrial fasteners market during the forecast period.

US Industrial Fasteners Market is poised to grow at a sustainable CAGR for the next forecast year.