The global industrial fasteners market is set to grow at a CAGR of 4.05% from 2016-2020, according to a new report from Research and Markets.
Another week, another prediction for the fastener market, you might reasonably argue? Either way, the research firm has provided some extra detail on what it has found to be driving the market:
One of the drivers observed is the growth of self-clinching fasteners, seen as a reliable solution that offers reusable and permanent load-bearing threads. Often installed during the fabrication process, these fasteners are suited to applications that involve thin sheet metals that require good pullout and torque loads to provide safe fastening.
The report also highlights a market challenge with mechanical fasteners. Traditional joining techniques create the risk of difficulties in assembly, including metal distortion and tearing under the impact of heavy fatigue conditions, reducing the reliability and longevity of assembly parts. In the process of addressing these issues, some manufacturers of mechanical fasteners decrease the gap between the rivets or bolts, leading to increased number of fasteners required as well as associated costs.
Input from key participants in the industry, as well as an 'objective combination of primary and secondary information' were used to create the report. It mentions the likes of Alcoa, Bulten, Altlas Bolt and Screw, plus many more. If you want to read more you'll have to purchase the report, which will put you back over $1,000 - find out more here.
