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Fasteners
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Competitive Intelligence

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Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

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Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

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Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

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Measure category performance on 15 key parameters across cost, risk and strategy KPIs

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Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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Abi will answer all Fasteners related
procurement queries with relevant data points

Abi - AI powered digital procurement assistant

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Get up-to-date market and supplier info on Fasteners to help you build

Intelligence covers market and price outlook, SWOT analysis, demand & supply drivers, engagement models and Procurement best practices

1

Intelligence on category covers the following aspects market outlook, supply market, SWOT analysis, Cost components & Price outlook, Demand and supply drivers, Engagement Models and Procurement Best Practices

manage-risk

Assess Supplier Risk based on key risk and compliance parameters

1

Supplier assessment covers the following parameters Financial Risk, Ethical, Labor, Environmental Compliance, IT Security.

2

Supplier assessment is powered by world’s leading data partners including D&B, CreditSafe, Dow Jones, Refinitiv, Orpheus

discover-supplier

Identify right fit suppliers based on your selection criteria including revenue, capabilities, certification, geography

1

Select suppliers based on industry, country, classification from a database of 4.2 mn suppliers. Get detailed supplier profiles with supplier capabilities, revenue, certifications, risk ratings

assess-category-perforamnce

Benchmark your category performance against peers and the market

1

Measure category performance on 15 key parameters across cost, risk and strategy KPIs

source-market-indices

Get information on key factors affecting your supply

1

Source Macro Data and Market Indices information from leading data sources across these key areas - Labor Rates, Currency, Energy, Country Risk, Trade Flow/Transportation, Port Data, Tariff, Weather and Epidemics

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COVID 19 impact on Fasteners market

  • Globally fasteners market is expected to remain volatile in Q’1 2020 primarily due to temporary shutdown of major manufacturer locations and en use industries caused by the outbreak of COVID-19.
  • The major raw material for mechanical components (HRC) has witnessed a increase in the price trend of around 2-13% from the previous quarter.

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Report Coverage

  • Market Size and Trend
  • Regional Market Snapshot- North america, Westren Europe, APAC
  • Key Global Supplier Profiles
  • Cost Breakup: Industrial Fasteners

Market Size

CAGR

4.5-5.0 Percent

Global Market Size

$92 Bn

Market Size Asia Pacific

$40 Bn

Market Size North America

$19 Bn

Table of contents

  1. Fasteners Executive Summary
  2. Category Landscape
  3. Regional Market Outlook
  4. Category Summary – COVID-19 Impact
  1. Fasteners Market Analysis
  2. Global Market
  3. Market Size and Trend
  4. Regional Market Outlook
  5. Global Porter's Five Force Analysis
  6. Market Drivers and Constraints

 

  1. COVID-19 Impact
  2. COVID-19 Impact Analysis
  3. COVID-19 Impact - Industry Watch
  1. Cost Structure Analysis
  2. Cost Driver Analysis
  3. Cost Component Analysis
  1. Fasteners Procurement Best Practices
  2. Sourcing Channels
  3. Industry Best Practices

 

  1. Negotiation Supply Levers
  2. Industry Risk Analysis
  3. Contract Structure by Suppliers

 

  1. RFI/RFP Support Levers
  2. RFI/RFP Support Inputs

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Global Fasteners Market Outlook

  • Expected investment construction and industrial activity across major demand regions are expected to drive the growth in the fasteners market
  • APAC is likely to remain the fastest-growing region for fastener demand, followed by North America.
  • Covid-19 outbreak in major manufacturing bases is expected to lead to production cuts and reduced industrial demand during 2020.

  • During the first two quarters of 2020, the automotive fasteners market suffered as activities came to a sudden halt in countries all over the globe according to the fasteners industry overview. Fasteners can fall in the MRO category too. 
  • New fasteners fell in demand because the major industries that propel the industrial manufacturing and durables industry were affected due to Covid-19. These industries include aerospace, construction, machinery, and automotive. 
  • As the effects of Covid-19 decrease and the economies come back to normalcy, the industry is expected to witness a growth in demand for numerous fastener types. 
  • The report specifies the industrial fasteners procurement and the effective strategies along with trends that matter.
  • Top global industrial fasteners suppliers: ITW, PRECISION CASTPARTS, ALCOA |LISI, NIFCO. Other top suppliers include Stanley Black & Decker, and Precision Castparts Corp.
  • Impactful cost components in the fasteners market: raw material: 60–70 percent, labor: 15–20 percent.
  • Key fasteners market drivers - Increase in automotive and construction industries.
  • Global Fasteners Market Size –$98.9 Billion (2019 E) and expected to grow at a CAGR of 5.0–6.0 percent to $110.2 Billion by 2021. By 2022, the industrial fasteners market is expected to grow at a CAGR of 4.5 to 5 percent.
  • The fasteners market size of Asia Pacific is $40 billion and the market size of North America is $19 billion in the year 2019.
  • In the fasteners market, the supplier power is high while the buyer power is medium to high when it comes to negotiation power.
  • North America is a high market maturity region while Western Europe and Asia fall under medium and low market maturity regions according to the fasteners industry experts. 
  • Fasteners industry overview shows that the major end-users are automotive: 27 percent, MRO/construction: 26 percent, aerospace: 18 percent.

Market Size and Trend

  • Global Market Outlook: The global market for industrial fasteners was estimated at $80 billion in 2016 and the same was expected to grow at a CAGR of 5–6 percent to reach $95 billion by 2019.
  • Key Market Drivers: The global market for industrial fasteners is expected to be driven by the increased activities in automotive, electrical and electronics, aerospace and industrial machinery markets.
  • Machines and equipment need fasteners such as wedges, bolts and nuts, pins, screws, temporary joints, lock nuts, washers and rings, nails, and anchors to ensure they are secured always. These are always going to be useful and demand even though the types that will be in demand can vary from time to time according to requirement. 
  • Traditional joining methods include welding, adhesives, rivets and studs among others. These will be replaced by other high-end fasteners in the future. Moreover, there is likely going to be an increase in threads that fall under the category of threaded components.
  • The method of fastening includes rolling and joining among several others. 
  • Regional Outlook: The APAC will have the highest demand for standard fasteners in the coming years, due to an increase in demand for maintenance and repairs activities, increased construction activities, and automotive industry growth. However, regions, such as the EU and North America, will witness a comparatively higher demand for aerospace-grade fasteners.

Industry Drivers and Constraints

  • Growth in the automotive and construction industry acts as a major driver for this sector
  • Growth in the heavy engineering sector will add fuel to the market
  • 3D printing and new materials is likely going to boost the fastener market further in the future. 
  • CNC, CAD, and Milling advancements will propel the growth of the fastener industry. 

Drivers

Increase in automotive and construction industry:

  • The increase in industrialization and urbanization, especially in the emerging markets, will drive the fasteners industry. Construction industry, along with the automotive sector, will progress, primarily driven by the industrialization and urbanization, this will drive the demand for fasteners in these sectors
  • China, India, South Korea, Brazil, Thailand and Saudi Arabia are expected to be the key demand areas supporting the overall growth in the fasteners market


Constraints

Increase in commodity demand/price

  • Commodity demand is a result of the global economic situation. The average commodity price was expected to grow between 5 and 6 percent until 2017.
  • An increase in commodity demand will drive up the market for industrial fasteners.

Supplier Market Share

  • The market is moderately capital-intensive, which poses a stiff barrier to the local or domestic fasteners manufacturers.
  • ITW, Precision Castparts, Alcoa, LISI, NIFCO, and Stanley Black & Decker occupy around 13.6 percent of the market share at a global level.

Industrial Fasteners: Product-wise Market Share (2017)

  • The market is moderately capital-intensive, which poses a stiff barrier to the local or domestic fastener manufacturers.
  • The six biggest fastener suppliers occupy around 13.6 percent of the market share at a global level, followed by small to medium-sized manufacturers. Hence, the competition among local manufacturers in a country and the competition among different countries in a region are fierce.

Industrial Fasteners: News Updates 

  • In Q1 2017, Stanley Black & Decker, a global diversified industrial company, has completed its acquisition of tools business of Newell Brands for $1.95 billion in cash
  • The US Court of International Trade has upheld the decision-making and methodology used by the US Department of Commerce in determining that Stanley Black & Decker and a related entity should pay anti-dumping duties on nails originating from China

Fasteners Industry Overview

Fasteners industry is raw material intensive. The industrial fasteners cannot be replaced, due to the specific nature of operations. However, the use of them may be reduced. Therefore, the threat of substitutes is determined to be medium. Major clients prefer to engage directly with a fastener manufacturer or through their sales offices for screws, bolts/nuts/washers, and anchors. These industrial fasteners suppliers have multiple sales offices in various countries around the world. The fasteners demand is driven, primarily by the volatility of commodity prices, including prices for coal, copper and iron ore, product lifecycle, competitive pressures and other economic factors, affecting the construction and equipment industry. Labor accounts for about 20 percent of the fastener manufacturing cost and increasing labor costs, and unionized labor environments are a risk to fastener manufacturers.

Fasteners Market Frequently Asked Questions

  1. What was the global fastener market worth in 2019?
  2. According to Beroe’s fastener market analysis report, the market was estimated at $95.24 billion in 2019.
  3.  
  1. What are the drivers for the fastener market?
  2. The global fastener market is driven by the following factors. · Increase in automotive and construction industries across major economies driving the demand for metals, thereby supporting the fastener market growth · 5-6 percent growth in the commodity prices
  3.  
  1. Who are the major end-users in the global fastener industry?
  2. The major end-users in the global fastener industry are - automotive at 27 percent of the total market, MRO/ construction at 26 percent, and aerospace at 18 percent.
  3.  
  1. Who are the key global industrial fastener suppliers?
  2. ITW, Precision Castparts, Alcoa, LISI, and NIFCO are the top global suppliers in the fastener industry.
  3.  
  1. What are the impactful cost components in the fasteners market?
  2. The impactful cost components in the fasteners market are raw material (60-70 percent) and labor (15-20 percent).
  3.  
  1. At what CAGR is the global fastener market expected to grow by 2021?
  2. According to Beroe’s industry analysis, the global fastener market size is expected to reach $110.2 billion by 2021 growing at a CAGR of 5-6 percent.
  3.  
  1. What is the regional fastener market outlook for the coming years?
  2. In the coming years, the APAC will have the highest demand for standard fasteners due to the increased demand for construction, maintenance and repair activities and automotive industry growth in the region.
  3.  
  1. Which regions are expected to be the key demand areas to support the overall growth in the fasteners market?
  2. China, India, South Korea, Brazil, Thailand and Saudi Arabia will the major demand areas supporting the overall growth of the fasteners market.
  3.  
  1. What is the reason behind the fierce competition among fastener manufacturers at the local and international levels?
  2. The competition is fierce among local manufacturers as well as among different countries because the six biggest fastener suppliers (ITW, Precision Castparts, Alcoa, LISI, NIFCO, and Stanley Black & Decker) occupy around 13.6 percent of the market share at a global level. Besides, the market is slightly capital-intensive which is a stiff barrier for the local fastener manufacturers.
  3.  
  1. What are the major industrial fastener market news updates?
  2. · In the first quarter of 2017, Stanley Black & Decker acquired the tools business of Newell Brands for $1.95 billion. · The US Court of International Trade upheld the US Department of Commerce decision that imposed anti-dumping duties on Stanley Black & Decker on the nails originating from China.

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