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The global industrial fasteners market size was estimated at USD 83.34 billion in 2018. It is anticipated to expand at a CAGR of 4.1% over the forecast period. Rise in custom fastener manufacturing coupled with product penetration of plastic variant in the automotive industry is expected to propel growth over the projected period.

Shifting manufacturing trends towards producing innovative products, such as specialty, miniature, and hybrid fasteners to tap the altering consumer demand are projected to bode well for growth. Furthermore, market participants are engaging in mergers and acquisitions to increase their production capacities, product variation, and geographical reach, thereby strengthening their position.

 

 

U.S. is involved in high volume import and export trading in the international market. The import partners for the country include China, Taiwan, Japan, Germany, Canada, South Korea, Mexico, France, and India. The country is also a major producer of the product with the presence of players including ATF Inc.; Illinois Tool Works, Inc.; and Acument Global Technologies.

The consumers, especially from the automotive and aerospace sector, can claim compensation from the manufacturers in case of faults concerning the quality of fasteners. Hence, these products are subjected to rigorous quality checks to meet standards including ASTM, ASME, BS, DIN, and JIS, to avoid such claims.

Rising metal prices coupled with their growing demand in other application industries including construction and machine manufacturing is likely to affect raw material supply for fasteners. However, presence of numerous suppliers with high production volumes is likely to limit the dominance of raw material suppliers.

Increasing substitution of metal fasteners by adhesives and tapes in bonding and NVH applications especially in the automotive industry is expected to hamper the growth of the industrial fasteners market. However, the irreplaceable ability of metal grade products to provide impact resistance in heavy-duty applications is expected to limit the threat of substitutes.

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No.26 Zhijiang Road, Lanjiang Street, Yuyao City, Zhejiang Province, China 315400
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Ningbo OuKaiLuo Hardware Co., Ltd, established in 1999, has been a leading manufacturer and supplier of fasteners. Our main export market is North America, Europe, Oceania, Korea and so on.
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