Fasteners are commonly defined as devices that are used to mechanically join two or more components, devices or surfaces together. Objects that fall under the fastener umbrella are nuts, pins, rivets, clips, washers, nails, screws and bolts with the basic requirement for fasteners being that they must be sturdy/strong enough to handle the required loads and pressure. They must also be cost effective, resistive to corrosion, aesthetically presentable and easy to use.
The global market for industrial fasteners is gaining traction across the country with demand steadily on the rise consequently in part to the rise in construction and maintenance project increase. The demand for automobiles especially in emerging economies around the globe such as China, India and Brazil has also played a significant factor towards the overall growth of the global industrial fasteners market.
Research shows that upon further dissection of the global industrial fasteners market paints a picture with heavy emphasis on crucial market dynamics such as growth opportunities, major challenges and key drivers. A complete research report predicting the movement of the market can be found at http://www.mrrse.com/industrial-fasteners-market. This research report assess the statistical data of the existing players as well as new entrants into the global industrial fasteners market and determines how robust the industry actually is.
In fact the global market for industrial fasteners has been around longer than you think. Back in 2011 this market had already reached a maturity value of nearly $70 billion dollars worldwide with the market expected to continually develop at a moderate pace and will reach an estimated net worth of almost $100 billion dollars by 2018. This is a growing at a CAGR of nearly six percent.
The sudden increased demand for infrastructure development, construction and maintenance sectors will only further magnify the increase in demand for the industrial fasteners market with the construction segment market expected to expand at a 9% CAGR. Asia Pacific is the leader in regards to having the highest demand for industrial fasteners occupying nearly 40% of the overall industrial fasteners market. It is predicted that by 2018 the market for industrial fasteners in Asia Pacific will balloon up to 45% of the total market share.