Stamping Fasteners Market is expected to show significant growth by Near Future

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A fastener is a hardware material that mechanically joins two or more objects together. A fastener could be a nut, bolt or clip type. Fasteners can be made by stamping metal sheet such as aluminum, steel or copper. Stamping is a process by which a metal sheet is pressed in order to make desired shape out of the metal sheet. A metal sheet undergoes various operations such as cutting, bending or forming, and drawing in a stamping process.

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Market Dynamics:

  • Less time taken by stamping process as compared to other methods to prepare joints such as clinching is major driver for stamping fastener’s market growth. According to report of Industrial Fasteners Institute (2016), global fastener demand was US$ 69.6 billion in 2015, and is expected to witness growth rate of 2.4% over the forecast period. This in turn is expected to drive growth of the stamping fasteners market, as precision stamping is a fast and cost-effective solution for manufacturing large quantities of products.

Market Outlook:  

  • Asia Pacific region is expected to account for the highest market share in global stamping fasteners market due to growing construction and automotive sectors in emerging economies such as India. According to India Brand Equity Foundation (IBEF) report (September 2018), Indian construction equipment market is projected to reach US$ 7 billion by 2020 from US$ 4.2 billion in 2017, whereas turnover of Indian auto components industry grew 18.3% to reach US$ 51.2 billion in 2017-18 from US$ 43.5 billion in 2016-17. Growth of such end-use industries is expected to boost the stamping fasteners market growth.

Key players:

  • Key players operating in the global stamping fasteners market include P&R Fasteners, Scovill Fasteners, Kapco, Franklin Fastener, ARO Metal Stamping, Acro Metal Stamping, Trans-Matic, Diehl, Tornillería DEBA Fasteners, and Koninklijke Nedschroef Holding B.V.

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About Author

Amy Carpenter is a reporter for Plains Gazette. She's worked and interned at Huffington Post and Vanity Fair. Amy is based in Arlington and covers issues affecting her city. In addition to her severe oyster addiction, she's a Netflix enthusiast, a red wine drinker, and a voracious reader.