Application of fasteners across various end user industries, growing disposable income in developing countries and high demand for sport utility vehicles (SUVs) are the major factors which drive the growth of global industrial fasteners market. The market is also significantly growing due to high demand for solar equipment across regions coupled with favorable government regulations in the practice of renewable portfolio standard (RPS) tax credits and targets. In Q3 2016, The U.S. has installed 4,143 MW of solar PV to touch 35.8 gigawatts (GW) of overall installed capacity which is enough to power approx. 6.5 million American families. However, implementation of high antidumping duties by EU is a major restraint which is hampering the growth of global industrial fasteners market. The 28 EU member representatives, voted by a qualified majority to enable higher tariffs than might usually apply if exporters are taking advantage from artificially low cost of raw material. Regarding cold-rolled steel from China, for instance, the dumping margin was over 50%, however the injury margin only approx. 20%, thus the lesser duty of about 20% was set. Thus, these anti-dumping duties can restrict the demand for the market.

Global industrial fasteners market has been segregated on the basis of application and product. On the basis of application, the market is further classified into machinery OEM, Automotive OEM, Other OEM, MRO and Construction. The other OEM was the major segment in 2015 which include defense and aerospace, electronics and electrical applications. Growing R&D activities in the defense & aerospace sector and increasing demand for consumer electronics is estimated to fuel the demand for other OEM applications. On the basis of product, the market is further divided into aerospace grade, externally threaded and standard. Externally threaded fasteners held the largest market revenue share in 2015. It comprises thread forming, machine screws, critical fasteners and screw & washer assembly. Increasing use of these products in construction, MRO, automotive, medical and machinery applications as it offers high rust resistance and strong bond is enhancing demand of fasteners which ultimately fuel the global industrial fasteners market.

Geographically, global industrial fasteners market is segmented into Asia Pacific, North America, Europe and ROW. Asia Pacific holds the largest market revenue share for industrial fasteners which has been closely followed by Europe. Rapid industrialization in the region leads to develop economic conditions coupled with growing construction activities is majorly supporting the demand for industrial fasteners in the APAC which is followed by North America, Europe, and ROW.
There are some major market players which are engaged in industrial fasteners market such as Arconic Inc., Bisco Industries, Bolton Group, Mitsubishi, Standard Fasteners Ltd, The Hillman Group, ITW, Nifco etc. These companies adopting various strategies such as merger, acquisition, joint venture, collaboration to sustain in the market and expand their business. These strategies also support companies to gain competitive advantage and capture large share in the market.