|North America, Europe And Oceania Building And Construction Fasteners Market 2022 Analysis Methodology, High Rate Of Growth And Future Trends 2030|
North America, Europe And Oceania Building And Construction Fasteners Industry Overview
The North America, Europe and Oceania building and construction fasteners market size is expected to reach USD 5.72 billion by 2028, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 5.0% from 2020 to 2028. The rise in the development of residential and commercial building structures across North America, Oceania, and European economies is expected to drive the demand for construction-grade fasteners.
North America, Europe And Oceania Building And Construction Fasteners Market Segmentation
Grand View Research has segmented the North America, Europe and Oceania building and construction fasteners market based on material, application, and region:
Based on the Material Insights, the market is segmented into Metal Fasteners, Plastic Fasteners.
- Metal fasteners led the North America, Europe and Oceania building and construction fasteners market and accounted for 93.0% share of the regional revenue in 2020.
- Metal fasteners are widely used in the construction of structures employing steel-to-steel connections. These fasteners are manufactured using several raw materials including stainless steel, aluminum, carbon steel, nickel, silicon bronze, copper, brass, alloy steel, and titanium.
- Metal fasteners offer high mechanical strength, impact resistance, and are less susceptible to harsh conditions such as high temperature and pressure. However, these fasteners often tend to corrode when they encounter water, which hampers their performance and durability in end-use applications.
- Plastic fasteners are witnessing high demand from the building and construction industry owing to their superior corrosion and chemical resistance properties as compared to metal fasteners.
- In addition, technological advancements in engineering plastic manufacturing have enabled the production of plastics with high impact and better mechanical properties as compared to traditional plastic products.
- The high strength-to-weight ratio, moisture resistance, high sealing strength, and chemical inertia offered by these products are likely to open new avenues for segment growth over the forecast period.
Based on the Application Insights, the market is segmented into Residential, Non-residential.
- Residential applications for building and construction fasteners led the market and accounted for about 56.3% of the revenue share in 2020.
- Affordable housing schemes, easy home loans, and the development of cheap rental housing in public-private partnerships in many European and North American countries are expected to drive the growth of the residential construction industry.
- A rise in demand for single-family residential homes in Canada, Germany, the U.K., and Australia is expected to ascend the market over the forecast period. Moreover, increasing multi-family construction projects in developed economies of North America and Europe are anticipated to positively impact the market.
- The demand for building and construction fasteners in non-residential applications is expected to be driven by the growing investments from various governments for the development of commercial facilities such as healthcare facilities, educational institutions, and shopping complexes.
- Increasing investments in commercial constructions, such as hospitals, government, and private offices, hotels, and restaurants, are expected to have a positive impact on the building and construction fasteners industry growth over the forecast period.
North America, Europe And Oceania Building And Construction Fasteners Regional Outlook
- North America
Key Companies Profile & Market Share Insights
The market in North America, Europe, and Oceania is highly competitive on account of a large pool of players operating in respective regions.
Some prominent players in the North America, Europe And Oceania building and construction fasteners market include
- SPAX International GmbH & Co. KG
- The Hilllman Group, Inc.
- Midwest Fasteners, Inc.
- Dokka Fasteners AS
- Stanley Black & Decker, Inc.
- SFS Group
- Hilti Group
- MW Industries, Inc.
- Penn Engineering
- Illinois Tool Works Inc.
- Bossard Group
Order a free sample PDF of the North America, Europe And Oceania Building And Construction Fasteners Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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