Fasteners Industry to Reach a New High by 2025

Fasteners Industry to Reach a New High by 2025

Fasteners, made and supplied by the top screw manufacturers company include nuts, bolts, washers, screws, clips, clamps, and a large number of other products, are used to join different parts of a particular assembly in diverse industries. At present, the global industrial fasteners industry has become very competitive by nature as a wide range of small, mid-size, and large companies operating in the countries such as the United States, Germany, India, and China are trying to surpass their rivals.

Fasteners industry in India to reach a new high by 2025

As far as the industrial fasteners industry in India is concerned, it is expected to reach a value of around INR 7, 706 billion by the end of the year 2025 while expanding at a CAGR of 6.5%. In the past 10 years, a phenomenal increase in automotive, construction, and manufacturing activities has given rise to a never-before growth of industrial fasteners in the countries like India, Australia, Brazil, Indonesia, Saudi Arabia, and china. During the forecast period, the demand for industrial-grade fasteners made and supplied by the top standard and self tapping screw manufacturers is all set to see a new high.

European Region – the second largest one for fastener manufacturing

Till 2017, Asia-Pacific used to hold the largest market share for industrial-grade fasteners produced globally. The principal reason behind this was the country like China and India saw an overwhelming growth in the construction and automobile industry. As of now, Europe is the largest market for high-quality industrial fasteners made and supplied by the leading self-tapping screw manufacturers, and on the front of overall production annually, the region holds the second-largest position in the world.

Nevertheless, various blockading factors are hindering the movement of the market of industrial fasteners in the region. Some of them include:

  • Lack of product differentiation
  • The elasticity of prices of raw materials including alloys, stainless steel, and copper
  • Lack of efficiency, flexibility, and process safety
  • Economic uncertainties and disruptions caused by radical changes
  • Inability to coping with digitalization
  • Faulty individual and automated supply chain and logistics concepts.

India industrial fasteners market

The industrial fasteners market in India has witnessed phenomenal growth, particularly in the past 15 years. Keeping in view the requirements of high-quality industrial fasteners to be used in diverse sectors, top stainless steel screw manufacturers in India are manufacturing a wide range of industrial fasteners that majorly include:

  • Exhaust bolts
  • Balance wheel bolts
  • Standard hexagon screws/bolts
  • Socket head cap screws
  • Socket shoulder screws
  • Weld nuts
  • Square nuts
  • Hexagon nuts
  • Self-tapping screws and others.

With the Indian government’s ‘Make in India’ initiative, the Indian manufacturing sector such as automobiles is expected to generate a never-before demand for high-quality industrial-grade fasteners.  Top stainless steel screw manufacturers in India usually market their products through a wide variety of distribution channels that include:

  • Distributors
  • Direct dealers
  • Online channels, and
  • Industrial events.

In recent years, providing ‘ease of doing business’ has been one of the most ambitious initiatives taken by the government, and it has facilitated the entry of various globally reputed manufacturers in the country.

Market Segmentation

As far as the segmentation of the Indian industrial fasteners market is concerned, it depends upon various factors such as applications of a particular product, type, and organization of the market. In the past few years, the automobile industry has emerged as the largest consumer of industrial-grade fasteners made and supplied by the top stainless steel screw manufacturers in India. This is because of the ever-growing automobile manufacturing units across the country. Apart from it, the construction and engineering sectors are also following the automobile sector.

High-tensile fasteners manufactured by the leading standard and stainless steel screw manufacturers in India find applications primarily in the construction and engineering sector, whereas the automobile industry makes use of stainless steel fasteners. Currently, most manufacturers are not only changing their manufacturing methodology but also shifting from conventional materials to:

  • Industrial grade stainless steel
  • Iron
  • Brass
  • Aluminum
  • Nickel
  • Plastics, and
  • Composites.

Key Growth Factors

The ever-increasing sales graph of automobiles in India has played a significant role in the phenomenal growth of the auto component market in the country. There are various standard and stainless steel screw manufacturers in India that are specialized in the manufacturing of nuts, bolts, washers, screws, clips, clamps, and a large number of other products for the automobile industry. Some major auto components that require fasteners include engines, suspension systems, wheels, and moldings.

Some quick facts on India’s automobile industry

  • By the end of the year 2026, India is likely to be the 3rd largest market in the world in terms of volume
  • Currently, the industry is producing around 25 million vehicles annually with the export of 3.5 million
  • Occupying a strong position in the manufacturing of heavy vehicles, India’s automobile industry stands largest in tractor manufacturing, 2nd in bus manufacturing, and 3rd in heavy vehicle manufacturing.

The percentage of increase in sales

  • 2.7% increase in passenger vehicles
  • 4.86% increase in two-wheelers, and
  • A whopping 10.27% increase in three-wheelers.

As the data available till April 2019, the overall exports of automobiles from India grew by 14.5%. Meanwhile, the commercial vehicle segment has also witnessed a remarkable growth of 17.6% till April 2019. The automobile sector has been well known to attract more FDI than any other sector between June 2019 and April 2020. The total FDI was around 22.4 billion dollars. In the light of the same, all the standard and stainless steel screw manufacturers in India are hopeful of better things in the times to come.

The Bottom Line

Super Screws manufactures and supplies industrial-grade fasteners to be used in Aerospace Industry, Manufacturing Industry, Automotive and Railway Industry, Chemical Processing and Medical Industry, Food and Beverage Industry, Marine and Offshore Industry, Metal and Mineral Mining Industry, and Construction Industry.

Super Screws is the only company in India that uses the technology of long length parts up to 500mm long. The range of fasteners the company manufactures ranges from M3 to M24 with availability in varied diameters and metals, hardness grades lengths, and conformance to IS, DIN, JIS, ASTM, and BS.