Industrial fasteners market growth projected at 4 percent CAGR to 2020

Pune, India-based Sandler Research, in its recently published “Global Industrial Fasteners Market 2016-2020,” predicts the market to grow at a CAGR of 4.05 percent through 2020.

According to the report, the emergence of self-clinching fasteners will help drive market growth. The fasteners, which offer reusable and permanent load-bearing threads, are suitable for applications that involve thin sheet metals that require good pullout and torque loads to provide safe fastening.

In 2015 the automotive segment was one of the major end users of industrial fasteners. Automakers use steel and stainless steel (including duplex and austenitic grades) fasteners, often coated with an anticorrosive material for enhanced protection. The expected growth in automobile sales around the world, especially in North America, will fuel the market's growth prospects in this segment.

Another market trend is the elimination of defective fasteners through 3-D inspection, ensuring zero defects in the final output. Sorting, gauging, and cylindrical part inspection, which previously involved the use of laser, vision, and eddy current for measuring dimensions and discovering metallurgical defects, are now adopted for high-speed inspection of fasteners that include screws, bolts, studs, nuts, fittings, washers, bushings, and cylindrical parts.

Asia-Pacific is predicted to be the major revenue contributor to the industrial fasteners market throughout the next four years. Industries such as automotive, aerospace and defense, shipbuilding, and rail will boost the growth of the fastener market in this region.

To view the report, visit www.sandlerresearch.org/global-industrial-fasteners-market-2016-2020.html.