Home > Advanced Materials > Asia-Pacific Industrial Fasteners Market Size | Forecast to 2030
Straits Research

Asia-Pacific Industrial Fasteners Market

Asia-Pacific Industrial Fasteners Market: Information by Product (Internally Threaded, and Non-Threaded), Type (Nuts, Rivets), Bolt Size (Less than ¼, ¼ to ¾,), Application (Oil and Gas), Raw Material (Steel), and Region—Forecast till 2030

Table of Content Download Sample

Market Overview

The Asia-Pacific Industrial Fasteners market size was valued at USD 37,581 million in 2022 and is projected to reach a value of USD 70,904 million by 2030, registering a CAGR of 7.3% during the forecast period (2023-2030).

 "Industrial fasteners" are high-quality fasteners used in many different industries and projects, from the auto industry to the shipping industry to building projects. Industrial fasteners are used in many areas, including construction. You need to know the basics about fasteners and what industrial fasteners to use for each job.

Highlights

  • Externally threaded dominates the market by product. 
  • Threaded fasteners dominated the market by type.
  • ¼ to ¾ dominated the market by bolt size.
  • Automotive dominates the segment by application
  • Steel dominated the market by raw materials.

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
7.3 %
Get more information on this report Download Sample Report

Market Dynamics

Asia-Pacific Industrial Fasteners Market Drivers

Increased Automotive Production

The demand for industrial fasteners is driven by the auto business's growth in China, Japan, and India. Industrial fasteners assemble the engine, suspension, braking systems, and other important car parts. For example, China is the biggest market for cars in the world. In 2020, more than 28 million cars will be sold there. The country's auto business has grown quickly in the past few years, which will likely continue. This rise is boosting the need for industrial fasteners used to build cars. Automotive screws, for example, are used in a car's engine, suspension, braking system, and other important parts. The region's demand for industrial fasteners will likely keep increasing in the coming years.

Asia-Pacific Industrial Fasteners Market Restraints

Availability of Substitutes

Adhesives and tapes may limit Asia-Pacific industrial fastener market growth. Adhesives and tapes, which weigh less and improve fuel efficiency, are popular in the car sector. Asia-Pacific industrial fastener markets include the automotive, construction, electronics, and aerospace industries, which employ adhesives and tapes. New eco-friendly adhesives and tapes may also affect industrial fastener demand.

Asia-Pacific Industrial Fasteners Market Opportunities

Urbanization and Industrialization

As urbanization and industrialization in the Asia-Pacific area continue to speed up, so does the demand for infrastructure and construction projects. This is a big chance for the industrial fasteners market since fasteners are important parts of building and infrastructure projects. For example, in China, the government's Belt and Road Initiative (BRI) is driving infrastructure investments all over the country and in many neighboring countries. This is causing a large demand for industrial fasteners. In India, the government's big plans to improve infrastructure, such as building new airports, roads, and other big projects, drive demand for fasteners.

Segmental Analysis

The Asia-Pacific industrial fasteners market is segmented based on product, type, bolt size, application, raw materials, and country.

The market is further segmented by product into Externally threaded, internally threaded and non-threaded 

The Externally threaded segment domains segment dominates the market and is expected to grow at a CAGR of 8.2% during the forecast period.

By type, it is further segmented into Threaded fasteners, nuts, washers, and Rivets. 

The Threaded fasteners dominated the market and are expected to register a CAGR of 7.5% over the forecast period.

The market is further segmented by bolt size into Less than ¼, ¼ to ¾, ¾ to 1, and more than 1.

The ¼ to ¾ segment dominates the market and is expected to grow at a CAGR of 6.7% during the forecast period.

The market is further segmented based on application into Oil and Gas, Automotive, Aerospace, construction, Industrial machinery, and others.

The automotive segment dominates the market and is expected to grow at a CAGR of 8.4% during the forecast period.

Raw materials are further segmented into steel, Aluminum, and others.

Steel dominated the market and is expected to register a CAGR of 8.4% over the forecast period.

Find Regional level market intelligence here !

Regional Analysis

The Asia-Pacific industrial fasteners market is segmented by country: China, India, Japan, Australia, New Zealand, and the rest of Asia Pacific. China dominated the market with a CAGR of 7.7% during the forecast period.

Asia Pacific accounts for two-thirds of global economic growth. Due to the COVID-19 pandemic and global economic slowdown, Asia Pacific's GDP growth dropped by 1.5% in 2020, according to the IMF. In 2021, GDP growth is forecast to rise to 7.6% and moderate to 5.4% in 2022. Asia accounted for 40% of the global industrial fastener market in 2020. Automotive, industrial machinery, electronics, and construction drive the regional industrial fasteners business. The region supplies the most industrial fasteners worldwide. Roads, harbors, airports, and rail networks are needed to support Asia Pacific's economic expansion. M&As, integration, and site relocations have increased regional industrial development. India, Vietnam, Thailand, and Malaysia's industrial and infrastructure construction will fuel the Asia Pacific market.

The market will be driven by Asia Pacific infrastructure growth. According to Price Waterhouse and Coopers (PwC), the Asia Pacific infrastructure market is expected to grow 7% to 8% annually over the next decade, reaching USD 5.36 trillion by 2025 and roughly 60% of the global total. Infrastructure initiatives in industrial, transportation, extractive, and social sectors are growing.

Regional Growth Insights Download Free Sample

Top Key Players of Asia-Pacific Industrial Fasteners Market

  1. Arconic Fastening Systems and Ring
  2. Acument Global Technologies, Inc.
  3. ATF Inc.,
  4. Nippon Industrial Fasteners Company (Nifco)
  5. Hilti Corporation

Report Scope

Report Metric Details
CAGR 7.3%
Forecast Period 2023-2031
Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends
Segments Covered
  1. By Product 
    1. Externally Threaded
    2. Internally Threaded 
    3. Non-Threaded
  2. By Type
    1. Threaded Fasteners
    2. Nuts
    3. Washers
    4. Rivets
  3. By Bolt Size
    1. Less Than ¼
    2. ¼ to ¾
    3. ¾ to 1
    4. More Than 1
  4. By Application
    1. Oil and Gas
    2. Automotive
    3. Aerospace
    4. Construction
    5. Industrial Machinery
    6. Others
  5. By Raw Material
    1. Steel
    2. Aluminum
    3. Others

Recent Developments

  • May 2023- The Apollo Funds agreed to acquire Arconic.
  • March 2023- Hilti announced a strategic partnership with Canvas, a construction robot business. Canvas has made a robotic drywalling solution to help people build in new and exciting ways.

Asia-Pacific Industrial Fasteners Market Segmentation

By Product 

  • Externally Threaded
  • Internally Threaded 
  • Non-Threaded

By Type 

  • Threaded Fasteners
  • Nuts
  • Washers
  • Rivets

By Bolt Size 

  • Less Than ¼
  • ¼ to ¾
  • ¾ to 1
  • More Than 1

By Application 

  • Oil and Gas
  • Automotive
  • Aerospace
  • Construction
  • Industrial Machinery
  • Others

By Raw Material 

  • Steel
  • Aluminum
  • Others

By Country

  • China
  • India
  • Japan
  • Australia
  • New Zealand
  • Rest of Asia Pacific

Frequently Asked Questions (FAQs)

How big is the Asia-Pacific Industrial Fasteners market?
The Asia-Pacific Industrial Fasteners market size was valued at USD 37,581 million in 2022 and is projected to reach a value of USD 70,904 million by 2030, registering a CAGR of 7.3% during the forecast period (2023-2030).
Key verticals adopting the Asia-Pacific Industrial Fasteners market include: Arconic Fastening Systems and Ring, Acument Global Technologies, Inc. ATF Inc., Nippon Industrial Fasteners Company (Nifco), Hilti Corporation.
Increased automotive production is the key driver for the growth of the Asia-Pacific Industrial Fasteners market.
Urbanization and industrialization is one of the upcoming key trends in the Asia-Pacific Industrial Fasteners market.
Price Starts From
USD 995

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report
Want to learn more about recent trends and data ?
They Already Trust Us :
Need Assistance?
+1 646 905 0080 (U.S.)
+44 203 695 0070 (U.K.)
sales@straitsresearch.com

Report Benefits

  • Develop business strategies by understanding the trends shaping and driving the Market.
  • Drive revenues by understanding the key trends, innovative products and technologies, market segments, and companies likely to impact the Market in the future.
  • Formulate effective sales and marketing strategies by understanding the competitive landscape and by analysing the company share of market leaders.
  • Identify emerging players with potentially strong product portfolios and create effective counter-strategies to gain a competitive advantage.
  • Track sales in the global and country-specific Market.
  • Organize your sales and marketing efforts by identifying the market categories and segments that present maximum opportunities for consolidations, investments and strategic partnerships.
Report Snapshot
Looking For Custom Report ?
Check Our License Options :

As featured on :

clients
Trusted by Fortune 500
Over 30000+ subscribers