Global Structural Wood Screws Market is valued at approximately USD 4.09 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 5.1% over the forecast period 2022-2029. Structural wood screws are specially designed screws for fastening multi-ply wood membrane together like engineered timber products, plated trusses, and solid-sawn timber. Additionally. These screws are easy to install and are a high-strength alternative for through-bolting, which are available in a variety of sizes, dimensions, and properties. Factors such as the growth of the construction sector, ongoing urbanization, and increasing consumer disposable income are the chief driver for the market demand across the globe.
The surge in demand for furniture is directly associated with the demand for structural wood screws in the global market. As per Statista, the global furniture market generated a revenue of USD 654.20 billion in 2022. Also, it is projected that the furniture market rapidly grows and reach USD 845.97 billion. Thereby, the thriving growth of the furniture industry is exhibiting a positive influence on market expansion worldwide. Moreover, rising technical innovations and improvements in the production processes, as well as the increasing usage as substitutes for conventional screws are presenting various lucrative opportunities over the forecasting years. However, fluctuations in raw materials prices and high availability of substitutes are key challenging factors for the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Structural Wood Screws Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. Europe dominated the market in terms of revenue, owing to the increasing construction of commercial & residential buildings and infrastructure, along with the rising presence of extensive investors. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the flourishing growth of construction industry, rising disposable income, as well as increase in demand for furniture in the market space.
Major market players included in this report are:
SPAX International GmbH & Co. KG
Recent Developments in the Market:
? In July 2022, Simpson Strong-Tie announced the introduction of an expanded line of its Strong-Drive premium screws, which is specially designed to offer structural fastening solutions for the construction and repair of mass timber assemblies and structures.
Global Structural Wood Screws Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Type, Application, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Furniture and Crafts
Rest of the World