The size of the global industrial fasteners market was estimated at USD 76.70 billion in the year 2020. Despite the staggering impact of the COVID-19 Pandemic, it is anticipated to grow at a CAGR of 4.1 percent. A never-before rise in the manufacturing of custom-made industrial fasteners by the top nut bolt and screws manufacturers in India, and the penetration of plastics in this industry will help it to grow more in the times to come.
The industry is witnessing new mergers, acquisitions, and collaborations
The fasteners made of plastic are consumed by the automobile industry most, and due to this reason, the growth of the fastener industry is all set to be propelled. In the past 10 years, the industrial fasteners industry has witnessed a paradigm shift in manufacturing methodologies through which a wide range of innovative, custom-made, and hybrid nuts and bolts are being produced. Apart from this, various market participants are engaged in acquisitions, collaborations, and mergers intending to:
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Bring variety to their product portfolio
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Increase overall production capacity
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Increase their geographical reach, and
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Strengthen their position across the national and global markets.
The automotive and aerospace industries are the most demanding sectors
There are a large number of industries that make use of high-quality fasteners made and supplied by the top nut bolt stainless steel screw manufacturers in India but the most significant ones among them are automotive and aerospace. In case any of these industries are supplied with industrial fasteners that are compromised on quality and found to have any competency issues, both these sectors can claim compensation from the concerned fastener manufacturers. Therefore, each fastener supplied to the aerospace and automotive industry is subject to various stringent quality tests and standards that mainly include ASTM, ASME, BS, DIN, JIS, etc.
New raw material entries
In the year 2018, plastic fasteners (screw nut bolt) made and supplied by some top manufacturers grabbed a small share of the industrial fasteners market. However, such fasteners come with low strength and impact resistance especially when it comes to applying them in heavy-duty applications. But the most appreciable part of the plastic fasteners is that they are extremely lightweight, cost-effective, and offer unmatched corrosion resistance. Due to this reason, they are also believed to drive growth in the fasteners industry.
Plastic industrial fasteners are manufactured by the top not bolt manufacturers in India making use of a wide range of raw materials such as:
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Polycarbonate
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Polyurethane
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Polyvinyl chloride
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Polyacrylamide
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Polystyrene
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Polyethylene, and
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Nylon.
Industrial fasteners made of polycarbonate find applications mostly in the electrical industry because of their amazing insulation, heat resistance, and flame-retardant properties.
Metal fasteners are still leading the market
Accounting for more than 90 percent of the market share, metal industrial fasteners are still leading the industry. Some of the major metal variants used for the manufacturing of industrial fasteners include Steel, Aluminum, Brass, Copper, Nickel, Pure Nickel, Inconel, Stainless Steel, Martensitic, Austenitic, Titanium, and Beryllium. Generally, the construction material considerations are based on certain things including the environment in which the fasteners are to be used, corrosion and temperature-related properties, weight, magnetic properties, stresses, reusability, and durability.
Metal fasteners for heavy-duty applications
Industrial metal fasteners made and supplied by the top nut bolt manufacturers in India offer outstanding impact resistance and mechanical strength when used in heavy-duty applications. Construction equipment and industrial machines are the areas where metal fasteners are most used to provide end products with a special advantage over their counterparts. Most industrial fasteners are made using stainless steel because of its extremely resilient mechanical properties.
Stainless steel fasteners find applications in areas where the primary requirements include:
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High tensile strength
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Unmatched corrosion resistance
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High-temperature resistance
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Reliability and overall longevity.
Product Insights
Internally threaded fasteners
Industrial fasteners are produced by the top nut bolt manufacturers in India in many types, shapes, and sizes but the demand for internally threaded fasteners is expected to grow at a CAGR of 3.7%. Some examples of threaded fasteners include bolts and cap screws, nuts, rods and studs, machine screws, washers, assortments, masonry fasteners, plugs, and anchors. Over the years, the demand for such fasteners has increased in the following industries:
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Construction industry
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Industrial machinery
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Railways and metro corporations
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Automobile industry, and
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Two-wheeler manufacturing industry.
Various market reports indicate that the manufacturers’ efforts to innovate and design cutting-edge products to provide improved vibration resistance, overall performance, and longevity will have a very positive impact on the market. Stainless steel is still the most preferred material used to produce internally threaded fasteners. Some manufacturers are also using aluminum, brass, and alloy steel to make them. At various times, the selection of the material also depends upon a particular customer’s choice.
Non-threaded fasteners
When it comes to non-threaded fasteners, the segment has been estimated to account for around 26% of the overall demand. Some examples of non-threaded fastening solutions include rivets, retaining rings and e-clips, pins, keys, snap fasteners, glass shop supplies, trimming sundries & fasteners, molding fasteners, o rings and grommets, springs, clamps, collars, and clips.
The non-threaded fastening solutions manufactured and supplied by the top nut bolt manufacturers are comprehensively used in applications such as subflooring, decking, and roofing. Over the years, their demand has also increased tremendously and it will also have a positive impact on the industrial fasteners market.
Concluding Remarks
Industrial fasteners are a part and parcel of almost all types of industrial activities. Their demand has always been showing an upward curve owing to the growth factors in a wide range of industrial domains. Marine, automotive, construction, electrical and electronics, and OEM industries are the most significant consumers of industrial fasteners.
Super Screws being a leading nut bolt manufacturer in India lays stress more on its R&D initiatives associated with the selection of raw material, enhanced durability, better strength, best temperature, and pressure resistance not only to strengthen its position both in the national and international markets but also to retain its 5 decades-old legacies.