Published Date : Nov 14, 2016
ALBANY, NY, Nov 14, 2016 – The report, titled “Global Industrial Fasteners Market 2016-2020” offers an in-depth market reports, using industry experts’ inputs and relevant data from different sources. It throws light on the current market trends and predicts that the market would expand at a CAGR of 4.05% between 2016 and 2020.
Fasteners are mechanical devices that serve to connect two or more devices, components, or surfaces together, thereby preventing them from disassembling. The most common examples of fasteners are nut, nails, bolts, screws, pins, washers, and rivets. Fasteners also find application in closing containers such as boxes, bags, or envelopes. Alloy steel, stainless steel, and carbon steel are major steel fasteners used in industries. Chemical refining, oilfield, aerospace, automotive, marine, military, turbine and power generation, and replacement parts are the different industries in which fasteners are used extensively.
The market research study throws light on the various growth drivers in the market. With the global economy having sufficiently recovered after the 2008 meltdown, industrial activity has picked up steam. Resurgence in the electrical and electronic, construction, and aerospace sectors have led to the steady rebound in the global market for industrial fasteners. Maximum, demand, however, has been generated by the automotive sector, which has also seen a revival in the past couple of years. Increased industrial activity in developing economies is also another major factor driving growth in industrial fasteners market globally. Besides, technological innovations leading to creation of lighter, more efficient, and more sophisticated industrial fasteners, is further boosting demand. Emergence of structural adhesives as substitutes to mechanical fasteners, however, is proving to be a hindrance in the market’s growth trajectory.
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Manufacturers dispatching huge volumes of fasteners for sale need to make sure they are without defects. To do so, they are increasingly opting for higher resolution 3D inspection of billions of fasteners. The market research report discusses such latest industrial trends. Additionally, it goes on to segment the market based on geography into Asia Pacific (APAC); Americas; and Europe, Middle East and Africa (EMEA) and discuss the current landscape and growth prospects in each. Rapid industrialization in Asia Pacific is slated to fillip the global industrial fasteners market. With China growth slowing down drastically, India, Taiwan, and South Korea will be the main demand drivers. The report also focuses on demand generated by specific countries such as Taiwan, the U.S., Japan, Thailand, France, and South Korea.
The report divides the market on the basis of end-users too into mining, marine, automotive, and construction. It leverages Porter’s Five Forces reports to gauge the competitive landscape and business strategies. Some of the key players discussed in the report are Alcoa,
Acument Global Technologies, ITW, and Bulten. Other prominent vendors also find a mention. Some of them are, namely Atlas Bolt and Screw, Aoyama Seisakusho, American Industrial Partners, Ajax Metal Processing, Air Industries, and Allfast Fastening Systems.
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