CATEGORY

Fasteners

A fastener or fastening is a device that mechanically joins or affixes two or more objects together, in general fasteners creates temporary joints. These were used in various industries like Automotive, Industrial, Construction and others

Beroe LiVE.Ai™

AI-powered self-service platform for all your sourcing decision needs across 1,600+ categories llike Fasteners.

Market Data, Sourcing & Supplier Intelligence, and Price & Cost Benchmarking.

Schedule a Demo

Category Alerts


CATEGORY ALERTS

bigHead invests to increasing bonding productivity

February 09, 2023
alert level: Medium
CATEGORY ALERTS

TR Fastenings opens new facility in Hungary

January 23, 2023
alert level: High
CATEGORY ALERTS

AFC Industries acquires Motor City Industrial

January 18, 2023
alert level: Medium

Become a Beroe LiVE.Ai™ Subscriber to receive proactive alerts on Fasteners

Fasteners Market Monitoring Dashboard


Supply Demand

Understand the correlation between costs, margins, and prices impacting your category on a real time basis on Beroe LiVE.Ai™

Fasteners Industry Benchmarks


Savings Achieved

(in %)

The average annual savings achieved in Fasteners category is 4.50%

Payment Terms

(in days)

The industry average payment terms in Fasteners category for the current quarter is 73.3 days

Compare your category performance against peers and industry benchmarks across 20+ parameters on Beroe LiVE.Ai™

Category Strategy and Flexibility

Engagement Model

Supply Assurance

Sourcing Process

Supplier Type

Pricing Model

Contract Length

SLAs/KPIs

Lead Time

Supplier Diversity

Targeted Savings

Risk Mitigation

Financial Risk

Sanctions

AMEs

Geopolitical Risk

Cost Optimization

Price per Unit Competitiveness

Specification Leanness

Minimum Order Quality

Payment Terms

Inventory Control

Meet Abi

The World’s first Digital Market Analyst

    Schedule a Demo
    Meet Abi

    The World’s first Digital Market Analyst

    Abi, the AI-powered digital assistant brings together data, insights, and intelligence for faster answers to sourcing questions

    Fasteners Suppliers


    30,720
    Total Suppliers
    954
    Diverse Suppliers
    77
    Normalized Supplier Rating
    Fasteners Supplier

    Find the right-fit fasteners supplier for your specific business needs and filter by location, industry, category, revenue, certifications, and more on Beroe LiVE.Ai™.

    Sample Supplier
    Company
    WW Grainger
    Location
    Jackson, Mississipi
    Duns number
    3862211

    D&B SER Rating

    dnb logo

    Up to 3 months

    1 9
    3
    Low Risk High Risk

    The Supplier Evaluation Risk (SER) Rating is Dun & Bradstreet’s proprietary scoring system used to assess the probability that a business will seek relief from creditors or cease operations within the next 12 months. SER ratings range from 1 to 9, with 9 indicating the highest risk of failure. We’ve prepared an infographic to help business owners better understand what influences their SER Rating.

    Moody`s ESG Solution
    ESG Profile

    Company and Sector Performance
    44

    100
    Limited (1)
    ESG Perfomance (/100)
    Environment
    54
    Social
    37
    Governance
    51
    6 Domains Performance (/100)
    Business behaviour
    42
    Human rights
    49
    Community Environment
    55
    Corporate governance
    56
    Human resources
    27
    Security Scorecard
    85

    Threat indicators
    B
    89
    Network Security
    Detecting insecure network settings
    A
    100
    Hacker Chatter
    Monitoring hacker sites for chatter about your company
    D
    69
    DNS Health
    Detecting DNS insecure configuration and vulnerabilities
    B
    80
    Application Security
    Detecting common website application vulnerbilities
    B
    83
    Endpoint Security
    Detecting unprotected enpoints or entry points of user tools, such as desktops, laptops mobile devices, and virtual desktops
    A
    100
    Cubic Score
    Proprietary algorithms checking for implementation of common security best practices
    B
    84
    Patching Cadence
    Out of date company assets which may contain vulnerabilities of risk
    A
    100
    Social Engineering
    Measuring company awareness to a social engineering or phising attack
    A
    100
    IP Reputation
    Detecting suspecious activity, such as malware or spam, within your company network
    A
    100
    Information Leak
    Potentially confidential company information which may have been inadvertently leaked

    Industry Comparison
    grainger.com
    Industry average
    Adverse Media Appearances
    Environmental Issues
    0
    Workforce Health Safety Issues
    0
    Product Service Issues
    1
    Human Rights Issues
    0
    Production Supply Chain Issues
    0
    Environmental Non Compliance Flags
    1
    Corruption Issues
    0
    Regulatory Non Compliance Flags
    1
    Fraud Issues
    0
    Labor Health Safety Flags
    0
    Regulatory Issues
    1
    Workforce Disputes
    0
    Sanctions
    0
    esg energy transition
    55
    Discrimination Workforce Rights Issues
    0
    esg controversies critical severity
    No

    Fasteners market frequently asked questions


    According to Beroe's fastener market analysis report, the market was estimated at $95.24 billion in 2019.

    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

    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.

    ITW, Precision Castparts, Alcoa, LISI, and NIFCO are the top global suppliers in the fastener industry.

    The impactful cost components in the fasteners market are raw material (60-70 percent) and labor (15-20 percent).

    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.

    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.

    China, India, South Korea, Brazil, Thailand and Saudi Arabia will the major demand areas supporting the overall growth of the fasteners market.

    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.

    ' 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.

    Fasteners market report transcript


    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

    Key highlights of the industrial fastener segment

    • Fastener products deal with a highly competitive market range and there are a huge number of domestic and international; manufacturers offering them. Many of those are high-end and superior graded products. The scope of application of the product drives the competition. The key consumer of the industrial fasteners is the automobile market and it consumes 75% of the market share.

    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.

    Latest: Surge in Procurement Jobs Open Up New Opportunities Read Now

    Read Now