United Kingdom Industrial Fasteners Market Size, Share & Trends Analysis Report 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, Mining, Others), By Raw Material (Steel, Aluminum, Others) and Forecasts, 2022-2030

Market Overview

The U.K. Industrial Fasteners market was valued at USD 3,343 million in 2022 and is projected to reach a value of USD 5,942 million by 2030, registering a CAGR of 6.5% during the forecast period (2023-2030).

High-quality industrial fasteners are used in nautical, automotive, and construction applications. Industrial and permanent fasteners are used interchangeably here. These fasteners are weatherproof and chemically resistant. Many developing industries require corrosion- and abrasion-resistant fasteners—industrial fastener manufacturers profit. Carbon fiber and alloys help industrial fastener manufacturers create corrosion-resistant, lightweight, superconducting fasteners. They also focus on hybrid fasteners consisting of injection-molded plastic and metals that are lighter, easier to install, and cheaper.

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 Dynamics

The u.k. industrial fasteners market drivers

Growth in the automotive industry 

The U.K. is one of the most important countries in Europe for making cars, and the automotive business uses a lot of industrial fasteners. The need for lightweight, high-performance screws is growing because of things like saving gas, being safe, and following rules. For example, making cars out of Aluminum and other light materials needs special fasteners that can withstand high stresses while keeping the weight down. For example, TR Fastenings' fasteners are made to meet the needs of car manufacturers, such as being resistant to corrosion and having a high tensile strength. They also meet the standards and rules of the automotive industry.

The u.k. industrial fasteners market restraints

High competition

The U.K. is one of the most important countries in Europe for making cars, and the automotive business uses a lot of industrial fasteners. The need for lightweight, high-performance screws is growing because of things like saving gas, being safe, and following rules. For example, making cars out of Aluminum and other light materials needs special fasteners that can withstand high stresses while keeping the weight down. For example, TR Fastenings' fasteners are made to meet the needs of car manufacturers, such as being resistant to corrosion and having a high tensile strength. They also meet the standards and rules of the automotive industry.

The u.k. industrial fasteners market opportunities

Increasing demand for hybrid fasteners

In the U.K., hybrid fasteners are becoming increasingly common because they are strong, light, and corrosion-resistant. For example, based in the U.K., Rolls-Royce uses hybrid screws to assemble its Trent XWB engine. These screws are made of both metal and a material called a composite. They are made to withstand the harsh conditions of flight. Overall, the market in the U.K. is getting a lot of chances from the growing demand for hybrid fasteners. The hybrid fasteners market will likely keep growing as long as the country keeps emphasizing sustainability and reducing weight in industries like aerospace, automotive, and green energy.

Regional Analysis

Most companies that make fasteners in the U.K. are small niche players focusing on high-value markets like the automobile and aerospace industries, where customers care a lot about reliability and quality. The industry's income is expected to drop at 1.9% per year until 2022-23 when it will reach £679.7 million. A lot of what drives demand are changes in industrial production and building. The weak pound grew foreign income over the next three years, from 2019 to 2020. But trade competition from low-cost countries stayed strong, which made growth harder in some ways.

Segmental Analysis

The U.K. 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 7.4% 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 6.7% 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 5.9% 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 7.6% 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 7.6% over the forecast period.

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.