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07.05.2014 07:26:01 – Global Industrial Fastener Market 2014-2018 – a new market research report on companiesandmarkets.com(live-PR.com) – The following companies represent key players in the Global Industrial Fastener Market: Alcoa Inc., Illinois Tool Works Inc., Precision Castparts Corp., Acument Global Technologies Inc., Federal Screw Works,Ingersoll-Rand Inc., Nitto Seiko Co. Ltd., Sundram Fasteners Ltd., TRW Automotive.
One of the major trends emerging in the Global Industrial Fastener market is the development of industry-specific industrial fasteners. The intense competition between
industrial fastener vendors has resulted in the development of fasteners with more features and capabilities to provide enhanced performance. In addition, with the increase in technological developments, several vendors are developing industry-specific fasteners for increased efficiency. For instance, vendors are developing alloy fasteners and wrenchable nuts with increased strength and corrosion and temperature-resistance properties for the Aerospace and Defense sector. They are also developing self-clinching and self-locking fasteners that are expected to enhance the operational efficiency for plastic assemblies.The growth of the Global Industrial Fastener market is driven by several factors, of which the need to develop superior quality end-products is one of the most important. The use of superior quality industrial fasteners with high precision enhances the strength of end-products and makes them reliable. It also helps reduce their maintenance costs.
Further, an increase in the price of industrial fasteners is one of the major challenges. A rise in prices of raw materials such as bronze, polycarbonate, cast iron, stainless steel, and alloys leads to an increase in the price of industrial fasteners.
Industrial fasteners are efficient tools used to connect two or more parts, enabling the development of superior-quality and reliable products. Various types of industrial fasteners such as externally threaded, standard, and aerospace grade fasteners are used across sectors such as Automotive, Industrial Machinery, Maintainence, Repair, and Overhauling, Aerospace and Defense, Construction, Consumer Durables, Electrical and Electronics, and Woodworking. The Global Industrial Fastener market is highly competitive, which is driving several vendors to differentiate their products by offering application-specific fasteners with increased strength and durability to meet the specific needs of end-users.
Analysts forecast the Global Industrial Fastener market will grow at a CAGR of 6.12 percent over the period 2013-2018.
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via Global industrial fastener market will grow at a CAGR of 6.12% over the period 2013 to 2018.