China Structural Wood Screws Market Size & Outlook
China structural wood screws market, 2018-2030 (US$M)
Related Markets
China structural wood screws market highlights
- The China structural wood screws market generated a revenue of USD 230.5 million in 2023 and is expected to reach USD 367.9 million by 2030.
- The China market is expected to grow at a CAGR of 6.9% from 2024 to 2030.
- In terms of segment, stainless steel was the largest revenue generating type in 2023.
- Carbon Steel is the most lucrative type segment registering the fastest growth during the forecast period.
Structural wood screws market data book summary
| Market revenue in 2023 | USD 230.5 million |
| Market revenue in 2030 | USD 367.9 million |
| Growth rate | 6.9% (CAGR from 2023 to 2030) |
| Largest segment | Stainless steel |
| Fastest growing segment | Carbon Steel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Carbon Steel, Stainless Steel |
| Key market players worldwide | SFS Group AG, Simpson Manufacturing Co Inc, Eurotech Ltd, Illinois Tool Works Inc, Kyocera Corp, SPAX International, Grip-Rite, Simpson Strong-Tie Company, Rothoblaas, GRK Fasteners |
Other key industry trends
- In terms of revenue, China accounted for 5.3% of the global structural wood screws market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China structural wood screws market is projected to lead the regional market in terms of revenue in 2030.
- Singapore is the fastest growing regional market in Asia Pacific and is projected to reach USD 59.1 million by 2030.
Stainless steel was the largest segment with a revenue share of 66.59% in 2023. Horizon Databook has segmented the China structural wood screws market based on carbon steel, stainless steel covering the revenue growth of each sub-segment from 2018 to 2030.
China is anticipated to emerge as one of the promising markets in the Asia Pacific due to favorable government support to promote investments in manufacturing sector. Population growth, rapid urbanization, and rising disposable income of the population play an important role in developing the construction sectors.
Demand for structural wood screws is expected to increase with the rising construction activities in the country. The growing population is giving rise to the demand for residential units. The government is taking initiative, for instance, in January 2022, the Chinese Ministry of Housing and Urban-Rural Development announced the construction of 6.5 million low-cost rental homes to meet the housing requirements.
This initiative is expected to provide housing for around 13 million people in the country. Furthermore, commercial buildings such as offices, schools, and retail outlets are expected to grow in the sub-urban areas to cater to the growing population. This is further anticipated to contribute to the demand for structural wood screws.
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Structural Wood Screws Market Scope
Structural Wood Screws Market Companies
| Name | Profile | # Employees | HQ | Website |
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China structural wood screws market size, by type, 2018-2030 (US$M)
China Structural Wood Screws Market Outlook Share, 2023 & 2030 (US$M)
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