Industrial Fastener Industry Analysis in South Asia & Oceania

Industrial Fastener Sales Outlook for South Asia & Oceania (2024 to 2034)

Industrial fastener sales in South Asia & Oceania are projected to reach US$ 2.2 billion in 2024 and climb to US$ 3.8 billion by 2034, increasing at 5.6% CAGR over the next ten years (2024 to 2034).

Industrial fastener demand in the region is mainly influenced by automotive, industrial machinery, electronics, and construction usages. With economic expansion in South Asia & Oceania, there's an amplified demand for better public infrastructure like roads, harbors, airports, and railway networks. The government's investments in commercial and residential building ventures will enhance regional fastener production due to the existing manufacturers.

Tamper-proof fasteners are specialized screws, bolts, or nuts designed to deter unauthorized tampering, theft, or vandalism. They come in various forms, each serving a specific purpose. The rising demand for newer generation aircraft is set to boost the region's need for aircraft deliveries and manufacturing facilities. South Asia & Oceania serves as a significant center for aerospace fastener manufacturers supplying these products to aerospace OEMs.

With India's ongoing urban and industrial development, the demand for infrastructure and construction projects is rapidly increasing. This presents a significant opportunity for the Indian industrial fasteners companies as these components are integral to building and infrastructure initiatives.

• India's government initiatives, like the Smart Towns Mission aiming to establish 100 smart towns countrywide, are introducing substantial funds into infrastructure and construction projects. Additionally, programs like Pradhan Mantri Awas Yojana (PMAY), focused on providing quality housing for all, further contribute to this growth trend.

Report Attributes	Details
Industrial Fastener Sales in South Asia & Oceania (2024E)	US$ 2.2 Billion
Projected Sales (2034F)	US$ 3.8 Billion
Demand Growth (2024 to 2034)	5.6% CAGR
Sales in Thailand (2024E)	US$ 408.6 Million
Demand Growth in India (2024 to 2034)	7% CAGR
India Market Share (2024E)	40.6%
Usage Increase in Automotive Applications (2024 to 2034)	7.8% CAGR
Key Companies Profiled	Hilti Corporation Acument Global Technologies Arconic Fastening Systems and Ring Shanghai Prime Machinery Company Limited Hylton Parker Fasteners

What’s Driving Steady Increase in Industrial Fastener Sales in South Asia & Oceania?

“Expansion of Construction and Automobile Industries in the Region”

Demand for industrial fasteners is anticipated to be propelled by several key factors, including the expanding influence of the automotive and construction sectors and the surge in personalized fastener manufacturing. Moreover, the product sales are expected to be driven by technological advancements in this field, increasing urbanization and industrialization, and a growing demand for fasteners within the aerospace sector in the coming years.

The construction industry's escalating need for fasteners remains a primary driver for the industrial fasteners sales. Steel fasteners, particularly stainless steel screws and bolts, are gaining traction in machine designs owing to their exceptional durability and enhanced resistance to corrosion. Manufacturers aiming to bolster revenue streams should grab emerging opportunities by crafting products aligned with prevailing trends. There's a growing interest among manufacturers in miniature and design-oriented steel fasteners essential for compact assemblies, indicating a significant focus area that could influence the growth trajectory of the industrial fasteners.

Country-wise Insights

Thailand, Indonesia, Malaysia, Australia, India, and New Zealand are projected to witness high demand for industrial fasteners in the South Asia & Oceania region owing to the robust industrialization, infrastructure development, and a dynamic manufacturing sector.

Why is India a Huge Market for Industrial Fasteners?

“Initiatives Promoting Sustainable and Corrosion-resistant Fasteners Gaining Traction”

Attribute	India
Market Value (2024E)	US$ 895.7 Million
Growth Rate (2024 to 2034)	7% CAGR
Projected Value (2034F)	US$ 1.75 Billion

Industrial fastener sales in India are experiencing significant growth due to various contributing factors. The country's expanding manufacturing sector, particularly in automotive, construction, electronics, and machinery industries, is driving the demand for industrial fasteners. India's infrastructure development initiatives, such as smart cities, highways, airports, and railway projects, further boost the demand for these fasteners.

With the government’s focus on 'Make in India' and increasing foreign investments, the manufacturing landscape has been evolving rapidly, fueling the need for quality fasteners to support production activities. Local and international fastener manufacturers are expanding their operations and investing in advanced technologies to meet the growing demand and ensure compliance with global quality standards.

Due to India’s advantageous market circumstances, untapped client base, and profitable business opportunities, major firms from developed countries are more willing to invest. Growing middle class spending power, rising disposable income, globalization, and an over-reliance on automated technologies all support the expansion of the industrial fasteners in the country.

How Investment-worthy is the Market in Thailand?

“Infrastructure Development Initiatives and Continuous Evolution of Manufacturing Landscape”

Attribute	Thailand
Market Value (2024E)	US$ 408.6 Million
Growth Rate (2024 to 2034)	7.5% CAGR
Projected Value (2034F)	US$ 850 Million

Industrial fasteners in Thailand are an integral part of the country's manufacturing and construction sectors. Thailand's industrial fasteners business is maintained by the robust growth in automotive manufacturing, electronics, construction, and machinery industries.

The country's strategic location in South Asia, coupled with its well-developed infrastructure and skilled labor force, has attracted numerous multinational companies to set up manufacturing facilities in Thailand. This has significantly contributed to the increased demand for industrial fasteners in the country. Thailand's government initiatives aimed at infrastructure development, such as transportation networks, urbanization projects, and the Eastern Economic Corridor (EEC) development plan, have spurred the demand for fasteners in construction and infrastructure projects.

The market is witnessing technological advancements and innovations in fastener manufacturing to meet the stringent quality requirements of various industries. Furthermore, Thailand's fastener manufacturing is becoming increasingly competitive, with both domestic and international manufacturers vying for market share by offering diverse product portfolios and adhering to global quality standards.

Category-wise Insights

Steel stands as a foundational material in the realm of fasteners, finding extensive use across various industries. Stainless steel, and alloy steel serve as key variants, each contributing in widespread applications. Continuous advancements within the industrial fastener have generated the creation of innovative alloys, elevating the capabilities and characteristics of fasteners, particularly in challenging environments. These innovations aim to bolster performance and resilience in challenging conditions.

Which Type of Industrial Fastener is Widely Popular?

"Alloy Steel Playing Vital Role in Meeting Diverse Industry Demands"

Attribute	Alloy Steel
Segment Value (2024E)	US$ 1 Billion
Growth Rate (2024 to 2034)	6% CAGR
Projected Value (2034F)	US$ 1.8 Billion

Alloy steel plays a significant role in the industrial fastener due to its exceptional properties that cater to various manufacturing needs. Alloy steel, crafted by blending different metals with iron, offers superior strength, durability, and resistance to corrosion and wear compared to traditional carbon steel fasteners.

In the industrial fastener, alloy steel is favored for applications requiring high tensile strength and robust performance, such as in automotive, aerospace, construction, machinery, and infrastructure projects. These fasteners are designed to withstand heavy loads, high temperatures, and harsh environmental conditions, making them ideal for critical and demanding applications.

Why is the Automotive Sector Leading the Sales of Industrial Fasteners?

"Industrial Fasteners Anchoring Automotive Structural Integrity and Performance"

Attribute	Automotive
Segment Value (2024E)	US$ 623.9 Million
Growth Rate (2024 to 2034)	7.8% CAGR
Projected Value (2034F)	US$ 1.32 Billion

In the automotive sector, industrial fasteners serve as crucial components that hold vehicles together, ensuring structural integrity, safety, and reliability. These fasteners encompass a wide range of nuts, bolts, screws, clips, and rivets used throughout the vehicle assembly process.

They play a pivotal role in various aspects of automotive manufacturing and performance. During assembly, fasteners secure critical components such as chassis, engine parts, body panels, interior features, and electrical systems. The use of specialized fasteners is crucial in maintaining the vehicle's structural integrity, especially under extreme conditions like vibrations, high speeds, and varying temperatures.

Competitive Landscape

Innovation in fastener technology is a significant driver. Companies invest in R&D to develop advanced fasteners with superior strength, durability, and corrosion resistance, meeting the stringent requirements of industries like automotive, aerospace, electronics, and construction.

Adapting to changing government regulations, trade policies, and tariffs across different countries in the region is critical for sustained growth and competitiveness.

• In March 2023, Hilti unveiled a strategic collaboration with canvas, a company specializing in construction robots. Canvas has developed an innovative robotic solution for drywalling, revolutionizing construction methods.
• In November 2021, MISUMI Group Inc. expanded and moved its Indian subsidiary, significantly boosting the total warehouse floor space by about 60% compared to its former location. This expansion enabled the company to double its inventory, now offering approximately 90,000 in-stock items, thereby enhancing delivery efficiency and supply chain capabilities.

Segmentation of Industrial Fasteners Study in South Asia & Oceania

• By Material :

  • Alloy Steel
  • Stainless Steel

• By Type :

  • Nuts
  • Bolts
  • Screws
  • Washers
  • Anchors
  • Nails
  • Dowel Pins
  • Rivets

• By Sales Channel :

  • Online
  • Offline

• By End Use :

  • Chemicals
  • Petrochemicals
  • Marine
  • Automotive
  • Power Generation
  • Construction
  • Aerospace & Defense
  • Mining
  • Agriculture

• By Country :

  • China
  • India
  • Thailand
  • Indonesia
  • Malaysia
  • Australia
  • New Zealand
  • Rest of South Asia & Oceania