According to the latest report published by Grand View Research, Asia Industrial Fastener Market Size was $27.10 billion in 2013 and will grow to $44.12 billion By 2020, growing at CAGR of 7.2% from 2014 to 2020, growing automobile industry in China is expected to drive market growth during the forecast period.
Asia industrial fastener market is expected to reach USD 44.12 billion by 2020, according to a new study by Grand View Research, Inc. Growing automotive demand in light of increasing disposable income of consumers is expected to propel demand for industrial fasteners over the next five years. China dominated the Asia fasteners market in 2013 and the trend is anticipated to continue over the forecast period on account of rapid expansion of domestic manufacturing base. India is expected to witness the fastest growth over the projected period as a result of increasing automotive production. In addition, infrastructure improvement in emerging economies is likely to propel demand for screws, bolts and rivets. Economic growth and rapid industrialization in China, India, Malaysia, Vietnam, Malaysia and Thailand is anticipated to stimulate investments for construction which in turn is likely to augment industrial fastener market over the projected period.(…)
