Construction Fasteners Industry 2023-2030: Navigating Growth Opportunities
Construction Fasteners Industry | Forecast 2030
Construction Fasteners Industry Data Book - Mechanical Anchors, Chemical Anchors, Bolts, Rivets, Screws and Nails Market
The economic value generated by the construction fasteners industry was estimated at approximately USD 26.67 billion in 2022. This economic output is an amalgamation of businesses that are involved in the manufacturing, distribution & supply, and application of construction fasteners.
Access the Global Construction Fasteners Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Waste Management Industry Data Book Coverage Snapshot
Markets Covered
- Construction Fasteners Industry USD 26.67 billion in 2022
- Mechanical Anchors Market Size USD 1.85 billion in 2022 2.8% CAGR (2023-2030)
- Chemical Anchors Market Size USD 0.95 billion in 2022 3.9% CAGR (2023-2030)
- Bolts Market Size USD 6.33 billion in 2022 5.4% CAGR (2023-2030)
- Rivets Market Size USD 0.95 billion in 2022 3.3% CAGR (2023-2030)
- Screws Market Size USD 6.28 billion in 2022 3.8% CAGR (2023-2030)
- Nails Market Size USD 10.29 billion in 2022 3.8% CAGR (2023-2030)
Mechanical Anchors Market Growth & Trends
The global mechanical anchors market size is expected to reach USD 2,319.8 million by 2030, registering a CAGR of 2.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. The mechanical anchors have potential demand and installation across the building and construction sector including historic masonry materials. These anchors mechanically anchor themselves in the base material with the help of friction and some type of movement to achieve holding values.
The rapidly expanding construction industry is driving demand for the mechanical anchor industry growth. The increasing focus on advanced architectural design across the construction sector is expected to create potential demand over the forecast timeframe from 2023 to 2030. The economic development across rapidly developing countries including China and India is further estimated to accelerate growth during the forecast timeframe.
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Chemical Anchors Market Growth & Trends
The global chemical anchors market size is expected to reach USD 1.20 billion by 2028, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 4.1% from 2020 to 2028. Rising demand for chemical anchors across industrial and infrastructure projects owing to their superior performance and durability is expected to propel market growth.
Furthermore, the growing demand for anchors that are easy to install and are more efficient and reliable, coupled with the popularity of the technologies used in its production, is driving manufacturers to continuously engage in innovation, requiring them to take the necessary steps to maintain and improve the product standards.
Bolts Market Growth & Trends
The global bolts market size is expected to reach USD 55.3 billion by 2028, progressing at a CAGR of 4.3% from 2020 to 2028, according to a new report by Grand View Research, Inc. The rapid growth of building & construction industry, primarily in China and India, is expected to drive the demand for bolts over the forecast period.
Asia Pacific is expected to be a preferred market for manufacturers of bolts owing to the extensive use of conventional construction practices that account for a high demand for traditional fasteners including nuts and bolts. High demand for carbon and alloy steel bolts on account of superior strength exhibited by the materials is expected to benefit the industry growth. Growth in car production, primarily in Asia Pacific, coupled with high demand for bolts in aftermarket applications has translated into increased product demand in automotive sector.
Rivets Market Growth and Trends
Throughout the forecast, rising infrastructure development and improvements in the construction industry are expected to fuel demand for rivets, particularly for steel structure installations. Because of the rising usage of rivets for bonding window and door panels, the building and construction segment is likely to grow. Rivets' suitable design, ease of handling, and easy-to-install qualities make them beneficial for the installation of interior components in commercial structures, propelling the rivets market's growth.
Go through the table of content of Construction Fasteners Industry Data Book to get a better understanding of the Coverage & Scope of the study
Screws Market Growth and Trends
The growth of the construction industry of the market can be attributed to the ease of use offered by screws in new outdoor and indoor construction projects. In the construction industry, screws are frequently used with drywall. The continued growth of the construction industry worldwide demands a substantial volume of screws for various applications, including fastening structural components. Additionally, the increasing focus on infrastructure development projects, particularly in emerging economies, has further fueled the demand for screws. Technological advancements in screw manufacturing processes, such as precision engineering and the development of corrosion-resistant materials, have improved the overall quality and durability of screws, driving the overall market.
Nails Market Growth and Trends
The growing global construction industry, which is a significant consumer of these nails, might be credited to the market growth. Increased public and private investments in the development of new infrastructure, residential spaces, and commercial spaces in nations such as India, China, and Mexico are driving global construction industry growth. As a result, the increasing number of construction activities around the world is driving up demand for construction nails.
Competitive Insights
The construction nails market is categorized as highly competitive owing to the presence of a number of large- and small-sized manufacturers of different types of these nails in their product portfolios. These players are focused on increasing their market share by adopting various strategies such as new product launches, research and development, mergers & acquisitions, and collaborations. Quality is a key factor for consumers, thus, the manufacturers are focusing on quality certification to gain consumer confidence.
For instance, MungoBefestigungstechnik AG has quality certification of Swiss Safety Center AG and ISO 9001:2015. Chemfix Products Ltd. has various quality certifications such as ISO-9001, ISO-14001, ITB, SOCOTEC, WQA, and ETA.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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