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U.S. demand for industrial fasteners is expected to increase 4.3% per year to $14.8 billion in 2017, according to a 260-page report by the Freedonia Group. Gains will be supported by rebounding levels of motor vehicle manufacturing, a segment that makes up roughly one-quarter of all fastener demand.
The fastest growth in fastener sales will be found in the construction market, as construction activity -- both residential and nonresidential -- makes a strong recovery from the declines posted during the 2007-2012 period, GlobalFastenerNews.com reported.
Competition from foreign producers, as well as moderating raw material costs, will hold back price increases, dampening value gains.