North America industrial fasteners market

North America Industrial Fasteners Market Overview

North America industrial fasteners market is projected to grow at a CAGR of 3.5% till 2030 owing to the growth in the automotive and aerospace industry.

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Major North America Industrial Fasteners Market Drivers

Industrial Fastener Market is gaining traction in North America region due to the increasing demand for fasteners products across end-use industries such as automotive, manufacturing, electronics and aerospace industries. Increasing demand for industrial fastener in construction industry is boosting the North America construction fasteners market. Growth in the automotive sector is supporting the market growth due to the increasing sales and production of the vehicles. This is supported by the increasing disposable income of consumers, growing demand for the lightweight vehicles and electric vehicles. All these factors is expected to boost the North America fastening solutions market.

North America is the hub for various manufacturers across industries including automotive, aerospace and electrical components. Increased demand for nuts, screws and bolts for permanent and temporary aerospace applications is anticipated to propel the US & Canada aerospace fasteners market. Moreover, rising investment on the R&D activities for developing lightweight fasteners in the market.

Automotive industry accounted for largest share in the market

Increase in vehicle production is the major factor driving the growth of the industrial fastener in North America region. For instance, OICA estimated that 10.1 million vehicles were produced in 2022 and increased by 9.7% as compared to 2021 in United States. Growing demand for industrial fasteners includes nuts, bolts and washers during the production process is supporting the North America automotive fasteners market. Furthermore, growing demand for passenger and commercial vehicles across the region is predicted to increase the demand for industrial fastener. Key vendors are expanding its industrial fastener portfolio to cater to the growing demand for the light weight vehicles. In 2022, Auto Bolt signed partnership with Pac-West Fasteners to ass new fasteners products and to enhance its customer base.

Externally threaded fasteners segment captures the highest market share in North America region.

The market is segmented on the basis of product i.e., externally threaded fasteners, internally threaded fasteners non-threaded fasteners and aerospace grade fasteners. Increasing utilization of external threaded fasteners such as bolts and screws in wide range of applications such as automotive, railway, building and construction is driving the market growth of US & Canada nuts and bolts market.

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Plastic segment is expected to grow at highest CAGR during the forecast period.

The market is driven by the increasing demand for plastic fasteners in automotive, aerospace and electronics industries due to its unique properties like lightweight, cost effective as compared to metal and superior chemical and corrosion resistant. Growing use of these fasteners for car interiors, wire harnessing and others. It further helps to improve the aesthetic appeal of the vehicle as plastic fasteners are available in different shapes, size and colors. Key Manufacturers and suppliers are extending their portfolio to cater to the growing demand for lightweight and cost-effective plastic fasteners. These factors are expected to boost the market growth of plastic fasteners in near future.

United States dominates the North America industrial fastener market.

US industrial fasteners market is estimated to hold largest share in North America region. The market is driven by the increasing use of industrial fasteners such as nuts, screws, bolts, anchors and others across industries include automotive, aerospace, heavy equipment and industrial machinery. Rising investment to boost country infrastructure by public and private sector is predicted to increase the demand for industrial fasteners across the United States. For example, US president signed an bilateral infrastructure bill into law for USD 1 trillion to expand country ports, rails, roads among others in 2021. Metal fasteners industry in United States is driven by the large number of small and medium scale manufacturing companies operating throughout the country. Metal fasteners offers unique benefits such as high mechanical strength and less susceptible to harsh conditions.

US is the largest economy and expected to be major consumer for industrial fasteners due to the large manufacturing base of automotive, aerospace and electronics. Furthermore, automotive sector is also supporting the growth of the industrial fasteners market in US. Center for Automotive Research Organization stated that US auto industry is one of the highly competitive and organised industries. Some of the major companies include GE aviation, Boeing and Lockheed Martin operating in aerospace industry. Key players operating in the United States industrial fastener market are focussing to develop new and innovative fastener solutions by utilizing new technologies across various industries. In addition, competition is very high for suppliers due to the high presence of players across the country. In 2021, Valley Forge & Bolt introduced new temp Maxbolt, which can be extended in high temperature situations across various applications.

In 2023, B&F Fastener Supply completed the acquisition of the Northen states supply to expand its presence in the market. The company planned to provide various products and services to end-users such as construction, automotive and industrial machinery.

Top Market Players

Various notable players operating in the market include ARaymond Industrial, Marmon Holdings Inc (Berkshire Hathaway), Fontana Gruppo, Illinois Tool Works, Stanley Black & Decker Inc., LISI Group, Nifco Inc., Agrati Group, TriMas Aerospace among others.

Segments covered in the Report:

The North America Industrial Fasteners Market has been segmented on the basis of Application, Raw material, Product. Based on the raw material, the market is segmented into metal fasteners and plastic fasteners. Based on the product, the market is segmented into externally threaded fasteners, internally threaded fasteners, non-threaded fasteners and aerospace grade fasteners. Based on the application, the market is segmented into automotive, aerospace, industrial machinery, lawns & gardens, building & construction, furniture, motors & pumps, plumbing products, home appliances and others.

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Report Coverage	Details
Market Revenues (2022)	USD Million
Market Base Year	2022
Market Forecast Period	2023-2030
Base Year & Forecast Units	Revenues (USD Million)
Market Segment	By Raw Material, By Product, By Application
Regional Coverage	North America
Companies Profiled	ARaymond Industrial, Marmon Holdings Inc (Berkshire Hathaway), Fontana Gruppo, Illinois Tool Works, Stanley Black & Decker Inc., LISI Group, Nifco Inc., Agrati Group, TriMas Aerospace., among others; a total of 9 companies covered.
25% Free Customization Available	We will customize this report up to 25% as a free customization to address our client’s specific requirements

Market Segmentation

North America Industrial Fasteners Market by Raw Material

• • Plastic Fasteners
  • Metal Fasteners

North America Industrial Fasteners Market by Product

• • Internally Threaded Fasteners
  • Externally Threaded Fasteners
  • Aerospace Grade Fasteners
  • Non-Threaded Fasteners

North America Industrial Fasteners Market by Application

• • Aerospace
  • Automotive
  • Industrial Machinery
  • Building & Construction
  • Lawns & Gardens
  • Home Appliances
  • Furniture
  • Motors & Pumps
  • Plumbing Products
  • Others

North America Industrial Fasteners Leading Market Players (Option 5: As a part of the free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • ARaymond Industrial
  • Marmon Holdings Inc (Berkshire Hathaway)
  • Fontana Gruppo
  • Illinois Tool Works
  • Stanley Black & Decker Inc.
  • LISI Group
  • Nifco Inc.
  • Agrati Group
  • TriMas Aerospace