Colombia Structural Wood Screws Market Size & Outlook
Colombia structural wood screws market, 2018-2030 (US$M)
Related Markets
Colombia structural wood screws market highlights
- The Colombia structural wood screws market generated a revenue of USD 27.1 million in 2023 and is expected to reach USD 37.9 million by 2030.
- The Colombia market is expected to grow at a CAGR of 4.9% 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 27.1 million |
| Market revenue in 2030 | USD 37.9 million |
| Growth rate | 4.9% (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, Colombia accounted for 0.6% 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 Latin America, Brazil structural wood screws market is projected to lead the regional market in terms of revenue in 2030.
- Colombia is the fastest growing regional market in Latin America and is projected to reach USD 37.9 million by 2030.
Stainless steel was the largest segment with a revenue share of 72.69% in 2023. Horizon Databook has segmented the Colombia structural wood screws market based on carbon steel, stainless steel covering the revenue growth of each sub-segment from 2018 to 2030.
According to Trade Economics, the GDP of Colombia is expected to grow at a significant rate in the coming years and is anticipated to reach USD 343.03 billion and USD 353.32 billion by 2023 and 2024, respectively. The contribution of the construction industry to the GDP of the country was more in the third quarter of 2022 than in the second quarter of 2022.
Thus, increasing construction activities in Colombia are expected to fuel the demand for structural wood screws market in the country during the forecast period. The furniture industry in the country is also witnessing significant growth from 2022 to 2030, especially in the wood furniture segment. According to Notifix, wooden furniture exports from Colombia stood at USD 12.1 million registering a growth of 49.4% in March 2021 compared with exports from the country witnessed in March 2020.
Structural wood screws are popularly used in the manufacturing of wooden furniture and structures as they eliminate predrilling requirements, thereby preventing damage to the wood used in these furniture and structures. Thus, a rise in furniture manufacturing activities is projected to push the growth of structural wood screws market in Colombia during the forecast period.
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Structural Wood Screws Market Scope
Structural Wood Screws Market Companies
| Name | Profile | # Employees | HQ | Website |
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Colombia structural wood screws market size, by type, 2018-2030 (US$M)
Colombia Structural Wood Screws Market Outlook Share, 2023 & 2030 (US$M)
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