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[English Market Research Report] Global Market for Industrial Fasteners

[English Market Research Report] Global Market for Industrial Fasteners

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The global industrial fasteners market is projected to grow from 84.95 billion USD in 2022 to 90.32 billion USD in 2023, with a CAGR of 6.3%. The Russia-Ukraine war has disrupted the potential for global economic recovery from the COVID-19 pandemic, at least in the short term. This war between the two countries has led to economic sanctions against multiple nations, soaring commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets worldwide. The industrial fasteners market is expected to reach 110.6 billion USD by 2027, with a CAGR of 5.2%.

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[English Market Research Report] Industrial Fasteners Market

[English Market Research Report] Industrial Fasteners Market

Industrial Fasteners Market

According to the latest report by Grand View Research, Inc., the global market size for industrial fasteners is expected to expand at a CAGR of 4.5% from 2022 to 2030, reaching approximately 131.28 billion USD by 2030. This market is anticipated to be driven by factors such as population growth, significant investments in the construction industry, and increasing demand in industries such as aerospace and automotive. Industrial fasteners can be broadly categorized into two types: metal and plastic. While metal fasteners lead the industry, their growth is expected to remain lower compared to similar products due to the increasing penetration of materials like plastic in applications such as aerospace and automotive, driven by reasons such as corrosion resistance and lightweight properties.

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