The global industrial fastener market is projected to reach a value of US$ 113.2 billion by 2024, with an estimated annual growth rate of 5.1% from 2024 to 2034. The market’s expansion is being fueled by several factors, including global population growth, increased construction spending, and rising demand from the automotive and aerospace industries.
Fasteners such as dowel pins are integral to the construction sector due to their high reliability and corrosion resistance. As buildings become taller and more resilient to adverse weather, the need for durable and standardized fasteners in construction projects—such as buildings, bridges, walls, and roofs—continues to grow.
In addition to construction, the automotive and aerospace industries are key drivers of demand for industrial fasteners, with both sectors requiring fasteners that meet stringent standards for safety and performance. Construction fasteners, in particular, are subject to rigorous quality control and regulatory frameworks, ensuring that manufacturers deliver products with high performance and reliability.
As infrastructure development accelerates worldwide, fasteners are becoming an essential component in the creation of modern, durable structures. Moreover, increased investments in research and development are leading to the creation of more advanced, innovative fasteners, further driving the market’s growth.
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