The Global Industrial Fastener Market has been valued at USD 81.8 billion in 2017 and has a predicted CAGR of 5.3% from 2018-2025.
Fasteners are used to create joints between two or more mechanical objects. The most commonly used fasteners include nails screws, nut, bolts, clips, rivets, pins, washers etc. The basic requirements for fasteners must be that they are strong enough to handle loads and pressure, must be cost effective, very easy to use, and resistant to corrosion and must combine aesthetics with function. Their applications are spread across a wide range of sectors such as automobiles, construction, electronics, machineries, industries and other everyday applications. It is primarily used in end-use industries such as automotive, aerospace, and construction for functions including spot welding, soldering, nuts & bolts, washers, screws, clips, clamps among others.
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Externally threaded fasteners are discreet hardware components that have external threads for assembly and disassembly of parts. The most common types are bolts and screws and are the most widely used fasteners at 56.8% of the market share in 2017