The global Fasteners Market, valued at USD 96.36 billion in 2024, is projected to grow at a compound annual growth rate (CAGR) of 6.4% from 2025 to 2033, reaching an estimated USD 168.42 billion by 2033. This growth is fueled by increasing demand from key industries such as automotive, construction, and aerospace, alongside the rising adoption of lightweight and durable materials like plastic fasteners.
Market Scope and Research Methodology
The fasteners market report by Straits Research provides a comprehensive analysis of the industry, covering historical data from 2021 to 2023 and forecasts from 2025 to 2033. The study evaluates market dynamics, including drivers, restraints, opportunities, and trends, to offer actionable insights for stakeholders. The research methodology combines primary and secondary data sources, including industry experts, company reports, and market surveys, ensuring accuracy and reliability.
The report segments the market by type, application, raw material, and region, providing a detailed understanding of market dynamics. Key players, recent developments, and regional insights are also analyzed to help businesses make informed decisions.
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Market Segmentation
By Type
The fasteners market is segmented into externally threaded, internally threaded, and non-threaded fasteners. Externally threaded fasteners, including bolts, screws, and studs, dominate the market due to their widespread use in automotive, electronics, and construction industries. These fasteners are essential for securing structural and non-structural components, with hex, square, and socket caps being the most popular variants.
By Application
The automotive sector holds the largest market share, driven by high vehicle production volumes, particularly in the Asia Pacific region. Fasteners play a critical role in bonding and noise, vibration, and harshness (NVH) applications in vehicles. The construction sector follows closely, with metal fasteners being preferred for their strength and corrosion resistance.
Regional Insights
Asia Pacific: Dominant Market
Asia Pacific accounts for the largest share of the global fasteners market, driven by rapid industrialization, urbanization, and infrastructure development. Countries like China, India, and Japan are major contributors, with the automotive and construction sectors leading demand. The region is also a key supplier of industrial fasteners, catering to global markets.
Europe: Fastest-Growing Region
Europe is the second-largest market, with Germany, the U.K., and France being major consumers. The region’s automotive industry, supported by leading manufacturers like Volkswagen, Mercedes-Benz, and Renault, drives demand for high-performance fasteners. Investments in R&D and the production of lightweight vehicles further boost market growth.
Key Players
- Elgin Fastener Group LLC
- Birmingham Fastener and Supply, Inc
- W. Industries, Inc
- Hilti Corporation
- LISI Group – Link Solutions for Industry
- Dokka Fasteners A S
- ATF Inc.
- Acument Global Technologies, Inc.
- Arconic Fastening Systems and Ring
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FAQs
1. What is the current size of the global fasteners market?
The global fasteners market was valued at USD 96.36 billion in 2024.
2. What is the projected market size by 2033?
The market is expected to reach USD 168.42 billion by 2033, growing at a CAGR of 6.4%.
3. Which region dominates the fasteners market?
Asia Pacific holds the largest market share, driven by high automotive production and infrastructure development.
4. What are the key drivers of market growth?
Increasing automotive production, infrastructure development, and the adoption of plastic fasteners are major growth drivers.
5. Who are the leading players in the fasteners market?
Key players include Hilti Corporation, Nippon Industrial Fasteners Company, and LISI Group, among others.
About Straits Research
Straits Research is a leading market research and consulting firm, providing actionable insights and data-driven solutions to businesses worldwide. Our reports help clients make informed decisions and stay ahead in competitive markets.
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