Construction Fasteners Market Size to Surpass US$ 13.40 Billion by 2033, The Brainy Insights

There is a thriving market for construction fasteners, with notable advancements and growth. Asia Pacific emerged as the largest market for the global construction fasteners market, with a 43.31% share of the market revenue in 2023.

Newark, May 16, 2024 (GLOBE NEWSWIRE) — As per the report published by The Brainy Insights, the global construction fasteners market is expected to grow from USD 9.26 Billion in 2023 to USD 13.40 Billion by 2033, at a CAGR of 3.77% during the forecast period 2023-2033.

It is attributed to a surge in commercial and residential building development worldwide. There is growth in the demand for fasteners, especially with the modular construction method. Fasteners are generally used in the construction sector to join two or many objects together and are not permanent.

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Scope of sourdough Market

Report Coverage Details
CAGR         3.77% from 2024 to 2033
Market Size in 2023 USD 9.26 Billion
Market Size by 2033 USD 13.40 Billion
Largest Market Asia Pacific
Base Year 2023
Forecast Year 2024 to 2033
Historical Year 2020-2022
Segments Covered Type, Application, Material
Regions Covered         North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa

Competitive Strategy

To enhance their market position in the global Construction Fasteners market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.

• In July 2016: Andrews Fasteners, which is a Leeds-based fastener supplier that offers quality products like bolts, nuts and washers that are used in the construction sector, got funding from Aldermore, which is a specialist lender and savings bank, and hence approved for USD 1.37 million for inventory. The organization targeted the future market by increasing its stock capacity and serving more customers. It is helping the organization expand its market share in the Construction Fasteners market.

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Market Growth & Trends

Most metal fasteners are made using steel or alloy steel, which offers strength. Some of the applications are more demanding than usual. Hence, they can be made of other metals like aluminium, copper, brass, silicon bronze, titanium, stainless steel, and nickel super alloys, among others. The metal fasteners sector is broadly dominated by several small and medium-scale organizations that operate in the construction sector worldwide. Metal fasteners offer high mechanical strength, eventually boosting the construction fasteners market. It has been observed that the key players in the construction fastener market are investing in R&D to develop high-strength fasteners that enhance bonding mechanisms. It helps the organization expand its product portfolio, and technological advancements eventually help it gain market share. Fasteners act as crucial components in the construction sector as they help join two pieces of different materials together, thus ensuring the structures’ strength, stability and integrity. There are many types of construction fasteners, each used for specific applications and different requirements, such as the attachment of fixtures in a non-permanent way, use in steel construction and prevention of wood split. Bolts and nuts are broadly used in joining columns, beams and other structural members. Similarly, the screws are used in the wood construction for fastening frames, panels etc. Fasteners also have applications in attaching roofing structures and siding and sheathing to the exterior of the building. Anchor bolts can be embedded in the concrete to secure the structures, such as equipment or columns, to the foundation. Screws and nuts are broadly used for securing the electrical boxes, conduits etc. Bolts and anchors attach heavy equipment and machinery to walls or floors. All these factors drive the growth of the construction fasteners market.

Key Findings

• In 2023, the metal segment dominated the market with the largest market share of 92.55% and market revenue of USD 8.57 Billion.

The material segment is divided into Metal and Plastic. In 2023, the metal segment dominated the market with the largest market share of 92.55% and market revenue of USD 8.57 Billion. This market share is attributed to the fact that most construction fasteners are generally made of metal.

• In 2023, the Non-Residential segment dominated the market with the largest market share of 66.46% and market revenue of USD 6.15 Billion.

The application segment is divided into residential and non-residential. In 2023, the Non-Residential segment dominated the market with the largest market share of 66.46% and market revenue of USD 6.15 Billion. The non-residential segment has the highest market share as there is a growing demand for infrastructure and healthcare buildings due to the growing population and surge in older population in developed countries like the US and Europe.

• In 2023, the Nails segment dominated the market with the largest market share of 37.21% and market revenue of USD 3.44 Billion.

The type segment is divided into nuts, bolts, washers, screws, anchors, rivets and nails. In 2023, the Nails segment dominated the market with the largest market share of 37.21% and market revenue of USD 3.44 Billion. Nail fasteners are broadly used in the construction sector as they provide strength and main force.

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Regional Segment Analysis of the Construction Fasteners Market:

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

The Asia Pacific region occurred as the largest market for the global Construction Fasteners industry, with a market share of 43.31% and a market value of around USD 4.01 Billion in 2023. This market share is attributed to the growing construction sector in the region’s emerging economies, like China and India, which hold a significant share of the global construction market. It is basically due to their large population, as these two countries have the highest populations in the world, and there is a need for infrastructure and building development. North America is having the second highest market share. This market share is attributed to the region’s rapid urbanization. In the US, construction is considered the key contributor to the economy.

Key players operating in the global Construction Fasteners market are:

• Leland Industries Inc
• All Fasteners USA LLC
• Yuyao Xintai Hardware Co, Ltd.
• The WDS Group
• Dokka Fasteners
• Kaloti India
• Andrews Fasteners Limited
• EJOT Holding GmbH & Co.KG
• GRK Fasteners
• Steatite Fasteners

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Construction Fasteners market based on below mentioned segments:

Global Construction Fasteners Market by Material:

• Metal
• Plastic

Global Construction Fasteners Market by Type:

• Nuts
• Bolts
• Washers
• Screws
• Anchors
• Rivets
• Nails

Global Construction Fasteners Market by Application:

• Residential
• Non-Residential

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About the report:

The global Construction Fasteners market is analysed based on value (USD Billion). All the segments have been analysed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client’s objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client’s requirements whether they are looking to expand or planning to launch a new product in the global market.

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