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Asia: Key revenue source to industrial fasteners market growth

Source:International Metalworking News for Asia - December 2016

Date Published:12/5/2016 01:12:01 PM

APAC is expected to be the major revenue contributor to the industrial fasteners market throughout the next four years. 

Analysts from Sandler Research predict global industrial fasteners market to grow at a CAGR of 4.05% during the period 2016-2020. 

The automotive segment dominated industrial fasteners market during 2015. As one of the major end-users, the automotive industry uses various types of fasteners such as steel, stainless steel (including duplex and austenitic grades), and plastic fasteners that are often coated with an anti-corrosive material for enhanced protection. The expected growth in the sales of automobiles around the world, especially in North America, will fuel the market's growth prospects in this segment.

Low-cost manufacturing benefits due to the availability of inexpensive labour and cheap raw materials will result in the growth of major end-user industries such as automotive, aerospace and defense, shipbuilding, and railways, which in turn, will boost the growth of the market in this region.

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