NEW BRIEFS
With the global economy gradually recovering from the economic crisis, demand for industrial fasteners is projected to grow over the ensuing years, according to a new report by Global Industry Analysts.
“Industrial Fasteners: A Global Strategic Business Report” provides a review of the industrial fasteners markets; current market trends; key growth drivers; new product launches, recent industry activity, and profiles of major/niche global as well as regional market participants.
Future demand for industrial fasteners is likely to be stimulated from developing regions, including Asia-Pacific, Latin America, Eastern Europe, and the Middle East & Africa, the group found in its 530-page report.
China is forecast to register an impressive growth in demand, to rank among the world’s top three industrial fasteners markets over the coming years.
By 2012, China is expected to emerge as a major market. Potential growth is also expected in Brazil and other Latin American countries, due to economic liberalization programs designed to attract external capital. Prospects are even favorable in Eastern European countries and Russia with ongoing economic transition.
The United States represents the single largest market for industrial fasteners, as stated by a new market research report on Industrial Fasteners. Europe and Asia-Pacific are the other major regions. Together, North America, Europe, and Asia accounts for a lion’s share of the global market demand.
Asia-Pacific is forecast to grow at the fastest growth rate of more than 6.0% through 2015. China is one of the largest producers and exporters of fasteners in the world. Increased production of motor vehicles, industrial machinery, and electrical and electronic components and renovation of infrastructure provided ample opportunity for growth of industrial fasteners market in China.
Government investments in commercial and military aircrafts and impending aerospace projects such as solar research, aerospace shuttle Shenzhou VII and scientific recoverable satellites, propelled the market demand for aerospace fasteners.
Segment-wise, Bolts represents the largest product segment. Fasteners play a vital role in determining the overall quality of a product. Non-threaded fasteners are forecast to experience the highest demand in the next few years.
Automotive Industry constitutes the largest end-use market for industrial fasteners, followed by aerospace and construction. Aerospace and automotive would continue to generate bulk of the demand for industrial fasteners.
With the rise in global population, construction of new homes and apartment is also expected to increase in future. Renovations, upgradations, add-ons of existing houses, apartment complexes, and other buildings also play a prominent role in this sector.
In addition, the increasing construction permits also bodes well for the construction sector, and in turn for the industrial fasteners market. Fasteners used in electronic products, along with plastic fasteners and high-performance and high-end specialty designs are expected to experience the fastest growth.
Major players profiled in the report include Illinois Tool Works, Alcoa Fastening Systems, Precision Castparts, Acument Global Technologies, Earnest Machine Product Company, Emhart Teknologies, FabriSteel, Federal Screw Works, Finnveden Bulten AB, Gem-Year Industrial Co. Ltd., Hilti Aktiengesellschaft, Infasco, Infast Group Plc, Ingersoll Fasteners, KAMAX-Werke Rudolf Kellermann GmbH, LISI Group, MacLean-Fogg Company, MNP Corp., Nitto Seiko Co. Ltd., Nucor Corp, SPS Technologies LLC, Sundram Fasteners Ltd., The Marmon Group, TRW Automotive, Wilhelm Böllhoff GmbH & Co. KG, among others.
“Industrial Fasteners: A Global Strategic Business Report” costs $4,500. The study analyzes market data and analytics in terms of value sales for the global market by the following geographic markets – US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World. Key segments analyzed in the report include Bolts, Nuts, Screws, Rivets/Washers, and Other Industrial Fasteners. Also, a seven-year (2000-2006) historic analysis is provided for additional perspective.
For more details, visit www.strategyr.com/Industrial_Fasteners_Market_Report.asp. ©2010 GlobalFastenerNews.com
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