Construction Industry to be the Pedestal for the Growth of Asia-Pacific Industrial Fasteners Market

The Asia-Pacific industrial fasteners market is estimated to witness a strong CAGR of 5.8% during the forecast period (2021-2027). India, China, Australia, South Korea, and Japan are leading the market growth in the APAC region. Strong economic growth, coupled with growing construction activities and increasing disposable incomes, has primarily supported market growth in the region. APAC is also the largest market for the global construction industry as of 2019 and will continue to dominate the industry. However, the growth in construction activities declined in H1 2020, mainly due to the slowdown of construction in China and other key Asian countries, which was further worsened due to the COVID-19 outbreak. However, the decline is expected to be supplemented by the acceleration of construction activities in India and other South Asian countries as the region exits national lockdowns and the revival of both supply and demand is working to offset market dampening that resulted from regional slowdown and the COVID-19 pandemic. 

Browse the full report description Asia-Pacific Industrial Fasteners Market Size, Share & Trends Analysis Report by Product Type (Threaded, Non-threaded, and Specialty), by Material (Metal and Non-metal), and by End-user (Automotive, Aerospace, Construction, Consumer Appliance and Furniture, and Industrial and Consumer Machinery) Forecast Period (2021-2027) at https://www.omrglobal.com/industry-reports/asia-pacific-industrial-fasteners-market

Rapid urbanization and infrastructure development have resulted in the rise of megacities in the fast-growing economies of the region. The growing urban population and renovations have also supported the growth of the construction industry. Due to strong investments in infrastructure spending, especially in Australia, China, Hong Kong, Japan, the Philippines, Singapore, Taiwan, Thailand, Myanmar, and Vietnam, the Asia-Pacific industrial fasteners market is to emerge as the most potential one.

Market Coverage

• The market number available for – 2020-2027
• Base year- 2020
• Forecast period- 2021-2027
• Segment Covered- Product Type, Material, and End-user
• Countries Covered- China, Japan, India, and Rest of Asia-Pacific
• Competitive Landscape- APL, Hilti Corporation, Illinois Tool Works Inc., NIFCO INC., and Wilhelm Böllhoff GmbH & Co. KG

Key questions addressed by the report

• What is the market growth rate?
• Which segment and country dominate the market in the base year?
• Which segment and country will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID-19 forecast

o Most affected region and segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

Asia-Pacific Industrial Fasteners Market Report Segment

By Product Type

• Threaded
• Non-threaded
• Specialty

By Material

• Metal
• Non-metal

By End-user

• Automotive
• Aerospace
• Construction
• Consumer Appliance and Furniture
• Industrial and Consumer Machinery

Asia-Pacific Industrial Fasteners Market Report Segment

• China
• Japan
• India
• Rest of Asia-Pacific