San Francisco, 1 October
2018: The Asia
Pacific industrial fasteners market size is expected to
reach USD 45.54 billion by 2025, according to a new report by Grand View
Research, Inc., registering a 4.8% CAGR during the forecast period. Rising
product demand as an integral bonding component for manufacturing vehicles,
home appliances, industrial machinery, and aerospace structures is likely to
drive industry growth.
China has emerged as the largest producer
and exporter of industrial fasteners in the region on account of presence of
numerous small and medium scale players. Industry players are investing in
R&D and production of plastic and specialty fasteners in order to cater to
application-specific demand by end users and to sustain in the highly
competitive market.
The industry is characterized by long-term
contracts between manufacturers and OEMs. The players quote product pricing
based on purchase volume and duration of contract with users. Fluctuating metal
and plastic prices, coupled with intense competition in terms of product costs,
is expected to hamper profit margins of industry players.
Metal fasteners are likely to face a
challenge in terms of penetration, especially in the automotive sector, owing
to rising demand for lightweight alternatives including plastic fasteners,
adhesives, and sealants by OEMs. However, demand for high-grade products
including titanium and brass, which offer excellent performance under vibration
and high impact, is expected to grow.
Access
Research Report of Asia Pacific Industrial
Fasteners Market @ www.grandviewresearch.com/industry-analysis/asia-industrial-fasteners-market
Further key findings from the report suggest:
· On the basis of raw material, the plastic
fasteners segment in the region was valued at USD 2.03 billion in 2017 and is
likely to grow at a higher pace than metal fasteners on account of their light
weight, improved mechanical properties, and low cost
· China dominated the industry, accounting
for 44.1% of the regional revenue in 2017. This is on account of massive production
volumes of vehicles, electronic goods, home appliances, and industrial
machinery
· By product, aerospace grade fasteners are
expected to witness the highest CAGR of 7.9% over the projected period owing to
increasing investments in aircraft manufacturing and maintenance in China,
Japan, and India
· By way of application, automotive fasteners
accounted for around 37.1% of the overall industry revenue in India in 2017, on
account of high production volume of passenger cars and motorcycles in the
country
· Japan and South Korea together accounted
for 35.6% of the Asian industrial fasteners market. However, the countries are
expected to grow at a slower pace as compared to other countries primarily
owing to their declining automotive production statistics
· Mergers and acquisitions, focusing on
manufacturing application specific products, gaining access to emerging
markets, and strengthening synergies in terms of production volumes are
expected to be key success factors for market players.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/automotive-and-aerospace-interior-materials
Grand View Research has segmented the Asia
Pacific industrial fasteners market on the basis of raw material, product,
application, and country:
Asia Pacific Industrial Fasteners Raw
Material Outlook (Revenue, USD Million, 2014 - 2025)
·
Plastic
·
Metal
Asia Pacific Industrial Fasteners Product
Outlook (Revenue, USD Million, 2014 - 2025)
·
Externally threaded fasteners
·
Internally threaded fasteners
·
Non threaded fasteners
·
Aerospace grade fasteners
Asia Pacific Industrial Fasteners
Application Outlook (Revenue, USD Million, 2014 - 2025)
·
Automotive
·
Aerospace
·
Construction
·
Industrial Machinery
·
Home Appliances
·
Lawn and Garden
·
Motors and Pumps
·
Furniture
·
Plumbing Products
·
Others
Asia Pacific Industrial Fasteners Country
Outlook (Revenue, USD Million, 2014 - 2025)
·
China
·
India
·
Japan
·
South Korea
·
Malaysia
·
Indonesia
·
Thailand
Access Press Release of
Asia Pacific Industrial Fasteners Market@ www.grandviewresearch.com/press-release/asia-industrial-fastener-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
