Report Code: A16775 | Nov 2023 | Pages: NA | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Screw Fastener Market
Request Now !The global screw fastener market is experiencing significant growth and is expected to grow considerably in the next few years. Joining objects together is a common occurrence in the construction or manufacturing industries. These industries employ many ways of joining, such as welding for metals and gluing for wood. But both of these ways are not always feasible due to their permanent nature and the high level of effort they require. Thus, to join metal, wood, and similar materials, screw fasteners are extensively used. They are inserted into objects via threads that wrap around them. These threads prevent them from slipping away and, hence, securing the joints. Metals and wood have different properties, so they require screw fasteners made of steel, copper, and aluminum. Moreover, they are a very common component in most industries such as automotive, machinery, construction, infrastructure, & manufacturing, and major players in the screw fastener industry adopt advanced technologies to manufacture the best and most productive products to sustain the competition in the screw fastener market.
Market Scope and Structure Analysis
Description
A screw fastener consists of a head and a body. The head is used for driving the screw into an object with the help of a screwdriver and on the other end, it has a tapered body surrounded by threads. This tapered end helps it to easily dig into the surface and the thread enables it to stay secured in place.
COVID-19 Impact Analysis
Top Impacting Factors
Rise in number of the manufacturing facilities in the developing countries such as China and India, has positively influenced the screw fasteners market. This is anticipated to increase the demand for screw fasteners. Further, the boost in the construction industry, especially for the construction of mass timber houses, is expected to drive demand in the screw fasteners market. Furthermore, the furniture industry is witnessing a rise due to the increase in disposable income of the public in general. This trend is boosting demand in the screw fastener market. In addition, the electronics industry is one of the major industries that uses screw fasteners, and due to the rise in the electronics industry, the demand for screw fasteners market is likely to increase. However, the fluctuating prices of the raw materials used for the manufacturing of screw fasteners is one of the restraining factors hindering the growth of the screw fastener market. Contrarily, technological developments in screw fastener products, such as the adoption of light-weight and durable materials boost the durability of the screw fasteners as well as result in lowering their price. This is expected to create lucrative opportunities for the growth of the screw fastener market during the forecast period.
Market Trends
Key Benefits of the Report
Screw Fastener Market Report Highlights
Aspects | Details |
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By Product Type |
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By Material Type |
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By End-user Industry |
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By Region |
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Key Market Players | Dokka Fasteners AS, Company 6, Company 9, Company 10, Nippon Industrial Fasteners Company (Nifco), Decker Industries Corporation, Company 8, Precision Castparts Corporation, Company 7, Penn Engineering & Manufacturing Corporation |
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