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US demand for industrial fasteners is expected to increase 2.7% per year through 2023 to $16.5 billion. Because fasteners are used in the manufacture and repair of a vast array of durable goods, the market is mature and gains will largely stem from pricing growth. Additionally, because OEMs are the largest market for fasteners by far, an expected improvement in durable goods manufacturing will support demand gains.
Competitive pressure from alternative joining technologies, while still a factor in the market, is expected to have only a minimal effect on fastener use going forward. Much of the shift toward lightweighting has already occurred in easily adaptable applications, so further technological development will be necessary before fasteners see competition in applications where they are more difficult to replace.
Rising production of aircraft, and the widespread use of expensive fasteners in their manufacture, for both civilian and military use will cause demand for associated fastening products to grow. Military aerospace equipment will register particularly strong gains through 2023, the fastest of any major market segment, because of a sharp increase in military spending, which has been a priority of the Trump administration.
Increasing demand from end users beyond aerospace equipment for stronger, better performing fasteners will also support rapid gains.
Motor vehicles and machinery utilize a significant number of fasteners, and through 2023, these two markets will account for more than 40% of all additional fastener sales. Demand for fasteners will be supported by:
The maturity of the fastener industry makes it susceptible to competition from alternative joining technologies. In some instances, manufacturers have replaced fasteners with adhesives and welding to shorten assembly time and, in the case of motor vehicles and some machinery, to reduce equipment weight.
However, much of this change has already occurred, and while equipment engineers continue to look for additional ways to improve productivity or reduce weight, the further adoption of other fastening systems to achieve these goals is slowing.
Study Coverage
This Freedonia industry study analyzes the $14.4 billion US industrial fasteners market. It presents historical demand data (2008, 2013, 2018) and forecasts (2023) by product (standard-grade or aerospace-grade), physical design (externally threaded, internally threaded, nonthreaded), and market (OEM, maintenance and repair operations, construction). The study also evaluates company market share and competitive analysis on industry competitors, including Agrati, Arconic, Berkshire Hathaway, Hilti, Illinois Tool Works, LISI, Stanley Black & Decker, and TriMas.
EXECUTIVE SUMMARY
OVERVIEW
Key Findings
Cyclicality & Historical Demand Volatility
Pricing
Industrial Fastener Demand by Material
Technological Trends
Competitive Joining Technologies
Adhesives
Welding
Mechanical Joining
Legal & Regulatory Environment
Standards-Setting Organizations & Regulations
Tariffs
Supply & Demand
US Production & Trade
Imports by Source
Exports by Destination
PRODUCTS
Key Findings
Industrial Fastener Demand by Grade
Standard-Grade Fasteners
Supply & Demand by Threading Type
Externally Threaded Standard-Grade Fasteners
Externally Threaded Standard-Grade Fasteners: Demand by Fastener Type
Externally Threaded Standard-Grade Fasteners: Suppliers
Internally Threaded Standard-Grade Fasteners
Internally Threaded Standard-Grade Fasteners: Demand by Fastener Type
Internally Threaded Standard-Grade Fasteners: Suppliers
Nonthreaded Standard-Grade Fasteners
Nonthreaded Standard-Grade Fasteners: Demand by Fastener Type
Nonthreaded Standard-Grade Fasteners: Suppliers
Application-Specific Standard-Grade Fasteners
Application-Specific Standard-Grade Fasteners: Demand by Fastener Type
Application-Specific Standard-Grade Fasteners: Suppliers
Standard-Grade Fasteners: Market Share
Aerospace-Grade Fasteners
Supply & Demand by Threading Type
Externally Threaded Aerospace-Grade Fasteners
Internally Threaded Aerospace-Grade Fasteners
Nonthreaded Aerospace-Grade Fasteners
Aerospace-Grade Fasteners: Market Share
MARKETS
Key Findings
Industrial Fastener Demand by Market
Original Equipment Manufacturing (OEM)
Demand by Application
Motor Vehicles
Machinery
Aerospace Equipment
Fabricated Metal Products
Electrical & Electronic Products
Furniture & Wood Products
Other OEM Applications
Maintenance & Repair Operations (MRO)
Demand by Sector
Services
Industrial
Public & Institutional
Construction
INDUSTRY STRUCTURE
Key Findings & Industry Composition
Market Share
Product Development
Manufacturing
Marketing & Distribution
Cooperative Agreements
Mergers & Acquisitions
List of Industry Participants
APPENDIX
Scope
Definitions
Abbreviations
Freedonia Methodology
Study-Specific Methodology
Related Studies & Reports
Macroeconomic Assumptions
Economic Environment
Construction Expenditures
Motor Vehicle Production
Manufacturers' Shipments
OVERVIEW
Table 2-1 | Industrial Fastener Price Deflator by Grade, 2008 - 2023 (2012=100)
Table 2-2 | Industrial Fastener Demand by Material, 2008 - 2023 (million dollars)
Table 2-3 | Industrial Fastener Materials: Description, Applications, & Advantages & Disadvantages
Table 2-4 | Adhesives for Joining: Advantages & Disadvantages
Table 2-5 | Industrial Fastener Supply & Demand, 2008 - 2023 (million dollars)
Table 2-6 | US Industrial Fastener Imports by Source, 2008 - 2018 (million dollars)
Table 2-7 | US Industrial Fastener Exports by Destination, 2008 - 2018 (million dollars)
PRODUCTS
Table 3-1 | Industrial Fastener Demand by Grade, 2008 - 2023 (million dollars)
Table 3-2 | Standard-Grade Industrial Fastener Supply & Demand by Treading Type, 2008 - 2023 (million dollars)
Table 3-3 | Externally Threaded Standard-Grade Fastener Demand by Type, 2008 - 2023 (million dollars)
Table 3-4 | Externally Threaded Standard-Grade Fasteners: Product Descriptions, Advantages, & Disadvantages
Table 3-5 | Internally Threaded Standard-Grade Industrial Fastener Demand by Type, 2008 - 2023 (million dollars)
Table 3-6 | Internally Threaded Standard-Grade Fasteners: Product Descriptions & Advantages
Table 3-7 | Nonthreaded Standard-Grade Industrial Fastener Demand by Type, 2008 - 2023 (million dollars)
Table 3-8 | Nonthreaded Standard-Grade Industrial Fasteners: Product Descriptions, Advantages, & Disadvantages
Table 3-9 | Application-Specific Standard-Grade Industrial Fastener Demand by Application, 2008 - 2023 (million dollars)
Table 3-10 | Aerospace-Grade Fastener Supply & Demand by Threading Type, 2008 - 2023 (million dollars)
Table 3-11 | Externally Threaded Aerospace-Grade Industrial Fastener Demand by Type, 2008 - 2023 (million dollars)
Table 3-12 | Internally Threaded Aerospace-Grade Industrial Fastener Demand by Type, 2008 - 2023 (million dollars)
Table 3-13 | Nonthreaded Aerospace-Grade Industrial Fastener Demand by Type, 2008 - 2023 (million dollars)
MARKETS
Table 4-1 | Industrial Fastener Demand by Market, 2008 - 2023 (million dollars)
Table 4-2 | OEM Industrial Fastener Demand by Application, 2008 - 2023 (million dollars)
Table 4-3 | Motor Vehicle OEM Industrial Fastener Demand by Vehicle Type, 2008 - 2023 (million dollars)
Table 4-4 | Machinery OEM Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-5 | Aerospace Equipment OEM Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-6 | Fabricated Metal Product Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-7 | Electrical & Electronic Product Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-8 | Furniture & Wood Product Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-9 | Other OEM Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-10 | MRO Industrial Fastener Demand by Sector, 2008 - 2023 (million dollars)
Table 4-11 | Services Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-12 | Industrial MRO Fastener Demand, 2008 - 2023 (million dollars)
Table 4-13 | Public & Institutional Industrial Fastener Demand, 2008 - 2023 (million dollars)
Table 4-14 | Construction Fastener Demand by Building Type, 2008 - 2023 (million dollars)
INDUSTRY STRUCTURE
Table 5-1 | Selected US Industrial Fastener Sales by Company, 2018 (million dollars)
Table 5-2 | Selected Cooperative Agreements
Table 5-3 | Selected Mergers & Acquisitions
APPENDIX
Table 6-1 | Relevant NAICS & SIC Codes
Table 6-2 | Relevant HS Codes
Table 6-3 | Abbreviations Used in This Report
Table 6-4 | Macroeconomic Indicators, 2008 - 2023 (billion 2012 dollars)
Table 6-5 | Construction Expenditures, 2008 - 2023 (billion dollars)
Table 6-6 | Motor Vehicle Production, 2008 - 2023 (thousand units)
Table 6-7 | Manufacturers' Shipments, 2008 - 2023 (billion dollars)
EXECUTIVE SUMMARY
Figure 1-1 | US Industrial Fastener Market
OVERVIEW
Figure 2-1 | Key Trends in the Industrial Fastener Market
Figure 2-2 | Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 2-3 | Industrial Fastener Price Deflator by Grade, 2005 - 2018 (2012=100)
Figure 2-4 | Industrial Fastener Demand Share by Material, 2018 (billion dollars)
PRODUCTS
Figure 3-1 | Industrial Fastener Product Trends
Figure 3-2 | Standard-Grade Industrial Fastener Demand Share by Threading Type, 2018 (billion dollars)
Figure 3-3 | Standard-Grade Industrial Fastener Demand by Threading Type, 2004 - 2018 (million dollars)
Figure 3-4 | Externally Threaded Standard-Grade Industrial Fastener Demand by Type, 2004 - 2018 (million dollars)
Figure 3-5 | Internally Threaded Standard-Grade Industrial Fastener Demand by Type, 2004 - 2018 (million dollars)
Figure 3-6 | Nonthreaded Standard-Grade Industrial Fastener Demand by Type, 2004 - 2018 (million dollars)
Figure 3-7 | Application-Specific Standard-Grade Industrial Fastener Demand by Application, 2004 - 2018 (million dollars)
Figure 3-8 | Standard-Grade Industrial Fastener Market Share by Company, 2018 (billion dollars)
Figure 3-9 | Aerospace-Grade Industrial Fastener Demand by Threading Type, 2004 - 2018 (million dollars)
Figure 3-10 | Aerospace-Grade Industrial Fastener Market Share by Company, 2018 (billion dollars)
MARKETS
Figure 4-1 | Industrial Fastener Markets
Figure 4-2 | Industrial Fastener Demand Share by Market, 2018 (billion dollars)
Figure 4-3 | OEM Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-4 | Motor Vehicle OEM Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-5 | Machinery OEM Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-6 | Aerospace Equipment OEM Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-7 | Fabricated Metal Product Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-8 | Electrical & Electronic Product Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-9 | Furniture & Wood Product Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-10 | Other OEM Industrial Fastener Demand, 2004 - 2018 (million dollars)
Figure 4-11 | MRO Industrial Fastener Demand by Sector, 2004 - 2018 (million dollars)
Figure 4-12 | Construction Industrial Fastener Demand by Building Type, 2004 - 2018 (million dollars)
INDUSTRY STRUCTURE
Figure 5-1 | Industrial Fastener Market Share, 2018 (billion dollars)
Figure 5-2 | US Industrial Fasteners: Leading Supplier
Figure 5-3 | US Industrial Fasteners: Second Leading Supplier
Figure 5-4 | US Industrial Fasteners: Third Leading Supplier
Figure 5-5 | US Industrial Fasteners: Fourth Leading Supplier
APPENDIX
Figure 6-1 | Annual Growth in Real GDP, 2000 - 2018, Compared to 1980 - 2005 Average (percent)
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