The global market for nails and related products is expected to see growth over the next decade, driven by rising demand for nails, tacks, drawing pins, and staples. However, the market will face challenges in terms of pricing, with a projected decrease in market value.
From 2024 to 2035, the market is forecast to grow at a compound annual growth rate (CAGR) of +0.6% in volume, bringing the market to 2.6 million tons by 2035. This growth is fueled by strong global demand for various types of nails and fastening products.
However, the market value is expected to decline slightly, with a forecasted CAGR of -1.3% over the same period. By the end of 2035, the market value is projected to reach $8.1 billion in nominal wholesale prices.
Despite these challenges, the overall market is set for expansion in the coming years, continuing the upward consumption trend driven by the ongoing global demand for nails and related products.
Related topics:
- Charge+ Launches Singapore’s First DC Fast Charger in HDB Surface Carpark
- China’s New Battery Safety Rules to Boost Innovation in EV Technology
- No Vote on Gas-Powered Leaf Blowers in Aquinnah This Year
