Construction Fasteners Market Size was valued at USD 28.46 billion in 2022. The Construction Fasteners industry is projected to grow from USD 29.25 billion in 2023 to USD 40.39 million by 2032, exhibiting a compound annual growth rate (CAGR) of 3.6% during the forecast period (2023 - 2032). The expanding construction and infrastructure development activities worldwide and the focus on energy-efficient and sustainable building practices are the key market drivers enhancing market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Market CAGR for construction fasteners is being driven by the expanding construction and infrastructure development activities worldwide. The global population is steadily increasing, and with it comes the need for new residential, commercial, and infrastructure developments. Rapid urbanization has become a common global trend, leading to increased construction projects in cities and urban areas to accommodate the growing population.
Governments and private sector entities worldwide are investing in infrastructure development, including roads, bridges, airports, railways, and public facilities. These large-scale projects require a vast array of construction fasteners for assembling various components, from structural steel connections to concrete reinforcement. The construction of residential and commercial buildings is a continual process as people seek modern and comfortable living and working spaces. Construction fasteners are essential for constructing safe and stable structures, from homes and office complexes to retail spaces and industrial facilities. The growth of industries, such as manufacturing, logistics, and warehousing, drives the need for large industrial structures. These facilities require construction fasteners for erecting the steel frames and secure foundations. In addition to new construction, there is a substantial market for renovation and retrofitting of existing structures. Fasteners are vital in these projects to update and improve the safety and efficiency of older buildings and infrastructure.
The construction industry is continually evolving with the adoption of innovative building materials and techniques. These materials often require specific types of fasteners for proper installation, driving the demand for a variety of fastener products. Initiatives like China's Belt and Road Initiative, investments in renewable energy projects, and the construction of smart cities are contributing to a surge in infrastructure development on a global scale. These ambitious projects require extensive use of construction fasteners for the assembly of new and technologically advanced infrastructure. The construction industry places a strong emphasis on safety, structural integrity, and resilience against natural disasters. Fasteners play a critical role in ensuring that buildings and infrastructure can withstand the forces of nature, which has led to an increased use of advanced fasteners that meet stringent safety standards. Thus, driving the Construction Fasteners market revenue.
The Construction Fasteners Market segmentation, based on application, includes Construction, Industrial, and Others. The construction segment dominates the market, accounting for the largest market revenue due to the sheer volume of fasteners required for diverse building projects, from residential homes to large-scale infrastructure developments. Fasteners are essential in securing structural components, connecting building materials, and anchoring fixtures, ensuring the stability and integrity of the built environment. As construction activities continue to expand worldwide, the demand for construction fasteners remains consistently high, supported by urbanization, population growth, and infrastructure development. The construction sector relies on a wide range of fasteners, including screws, bolts, nuts, anchors, and specialty connectors, making it the primary driver of innovation and growth in the construction fasteners market.
Figure 1: Construction Fasteners Market, by Application, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The Construction Fasteners Market segmentation, based on product type, includes Bolts, Nuts, Washers, Screws, Rivets, Anchors and Nails. The screws category dominates the market due to their exceptional versatility and broad range of applications. Screws are preferred for their ability to securely fasten materials like wood, metal, and concrete, making them suitable for a wide variety of construction projects, from framing and drywall installation to roofing and structural assembly. Their ease of use, with self-tapping and self-drilling options, significantly streamlines the construction process, saving time and labor costs. Additionally, screws provide a reliable and long-lasting connection, contributing to the durability and structural integrity of buildings and infrastructure, which further solidifies their dominance in the construction fasteners market. Further, the second most dominant in the market of construction fasteners, after screws, is the bolt. Bolts play a crucial role in construction and infrastructure projects, providing strong and reliable connections for various structural and non-structural components.
By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Construction Fasteners market area dominates this market due to the region's robust construction industry, substantial infrastructure development, and a strong focus on building code compliance and safety standards. Additionally, the presence of key manufacturers, advanced technology, and adherence to strict quality and safety regulations further solidify North America's leadership in the construction fasteners market.
Further, the major countries studied in the market report are the US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: CONSTRUCTION FASTENERS MARKET SHARE BY REGION 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe's Construction Fasteners market accounts for the second-largest market share due to the region's extensive infrastructure projects, residential and commercial construction, and the growing emphasis on sustainable and energy-efficient building practices. Further, the German Construction Fasteners market held the largest market share, and the UK Construction Fasteners market was the fastest-growing market in the European region.
The Asia-Pacific Construction Fasteners Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to rapid urbanization, infrastructure expansion, and a surge in construction activities in the region, fueled by population growth and economic development. Moreover, China’s Construction Fasteners market held the largest market share, and the Indian Construction Fasteners market was the fastest-growing market in the Asia-Pacific region.
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Construction Fasteners market grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Construction Fasteners industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Construction Fasteners industry to benefit clients and increase the market sector. In recent years, the Construction Fasteners industry has offered some of the most significant advantages to the construction industry. Major players in the Construction Fasteners market, including All Fasteners USA LLC, Leland Industries Inc, Andrews Fasteners Limited, Dokka Fasteners, EJOT Holding GmbH & Co.KG, GRK Fasteners, The WDS Group, Staetite Fasteners, Yuyao Xintai Hardware Co, Ltd., Kaloti India, and others, are attempting to increase market demand by investing in research and development operations.
Hilti Corporation, commonly known as Hilti, is a multinational company based in Schaan, Liechtenstein. Founded in 1941, Hilti is a leading provider of innovative solutions for the construction and building maintenance industries. The company specializes in manufacturing and distributing a wide range of products, including power tools, fastening systems, drilling and demolition equipment, diamond drilling and cutting tools, and various construction software and services. In March 2023, Hilti and Trimble announced a partnership to develop and deliver integrated solutions for the construction industry. The partnership will focus on combining Hilti's expertise in construction fasteners and tools with Trimble's expertise in construction technology. The goal is to provide customers with more efficient and productive ways to work.
Simpson Strong-Tie is a well-established American company that specializes in providing structural solutions and construction products for the building industry. Founded in 1956 and headquartered in Pleasanton, California, Simpson Strong-Tie is widely recognized for its extensive range of products, including connectors, fasteners, anchors, and software tools. These products are essential for enhancing the structural integrity and safety of buildings and infrastructure. The company is known for its dedication to engineering excellence, innovation, and ensuring the reliability of its products. In January 2023, Simpson Strong-Tie and MiTek announced a partnership to develop and deliver new solutions for the construction industry. The partnership will focus on combining the two companies' expertise in construction fasteners and software to develop new products and services that help customers build stronger, safer, and more sustainable structures.
March 2023: Alcoa Corporation, a global aluminum leader, acquired KLK Fasteners Group, a leading provider of construction fasteners in North America, for $1.2 billion. The acquisition is expected to strengthen Alcoa's position in the construction fasteners market and expand its product portfolio.
January 2023: Fastenal Company, a leading distributor of industrial and construction fasteners, acquired Distribution International, a leading provider of construction fasteners in Canada, for $1.5 billion. The acquisition is expected to expand Fastenal's presence in the Canadian market and strengthen its position as a leading global distributor of construction fasteners.
February 2023: ITW and Würth announced a partnership to expand their distribution networks. The partnership will allow ITW customers to access Würth's global distribution network and Würth customers to access ITW's extensive product portfolio. The goal is to provide customers with more convenience and choice.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 28.46 Billion |
| Market Size 2023 | USD 29.25 Billion |
| Market Size 2032 | USD 40.39 Billion |
| Compound Annual Growth Rate (CAGR) | Â 3.60% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Application, Product Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | All Fasteners USA LLC, Leland Industries Inc, Andrews Fasteners Limited, Dokka Fasteners, EJOT Holding GmbH & Co.KG, GRK Fasteners, The WDS Group, Staetite Fasteners, Yuyao Xintai Hardware Co, Ltd., Kaloti India |
| Key Market Opportunities | ·      Increasing focus on energy-efficient and sustainable building practices. |
| Key Market Dynamics | ·      The expanding construction and infrastructure development activities worldwide. |
Construction Fasteners Market Highlights:
Frequently Asked Questions (FAQ) :
The Construction Fasteners Market size was valued at USD 28.46 billion in 2022.
The global market is projected to grow at a CAGR of 3.6% during the forecast period, 2023-2032.
North America had the largest share of the global market
The key players in the market are All Fasteners USA LLC, Leland Industries Inc, Andrews Fasteners Limited, Dokka Fasteners, EJOT Holding GmbH & Co.KG, GRK Fasteners, The WDS Group, Staetite Fasteners, Yuyao Xintai Hardware Co, Ltd., Kaloti India.
The construction category dominated the market in 2022.
The screws had the largest share in the global market.
Leading companies partner with us for data-driven Insights.
Kindly complete the form below to receive a free sample of this Report
Research Analyst Experienced business professional with a demonstrated history of working in the cfnb industry. skilled in market research, and market estimation. strong professional with a masters focused in marketing management.
Get in Touch
© 2024 Market Research Future ® (Part of WantStats Reasearch And Media Pvt. Ltd.)
