Middle East & Africa Structural Wood Screws Market Size & Outlook
Middle East & Africa structural wood screws market, 2018-2030 (US$M)
Related Markets
MEA structural wood screws market highlights
- The MEA structural wood screws market generated a revenue of USD 191.5 million in 2023.
- The market is expected to grow at a CAGR of 7% 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.
MEA data book summary
| Market revenue in 2023 | USD 191.5 million |
| Market revenue in 2030 | USD 308.5 million |
| Growth rate | 7% (CAGR from 2024 to 2030) |
| Largest segment | Stainless steel |
| Fastest growing segment | Carbon Steel |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 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, MEA region accounted for 4.4% of the global structural wood screws market in 2023.
- Globally, Europe is projected to lead the regional market in terms of revenue in 2030.
- MEA is the fastest growing regional market and is projected to reach USD 308.5 million by 2030.
Stainless steel was the largest segment with a revenue share of 74.41% in 2023. Horizon Databook has segmented the Middle East & Africa structural wood screws market based on carbon steel, stainless steel covering the revenue growth of each sub-segment from 2018 to 2030.
Growing urbanization and rising standards of living owing to increasing per capita income are further expected to fuel the expansion of commercial and residential construction. However, the construction industry has been adversely affected by the outbreak of the COVID-19. Businesses are experiencing a gradual recovery from the impact of the pandemic.
According to Afrimat Construction Index (ACI), the construction industry in South Africa exhibited a 4.1% increase over Q2 2022 compared to Q1 of 2022. These trends are anticipated to drive construction activities, thereby driving the demand for structural wood screws in the region. The furniture industry in some the countries such as Saudi Arabia is also flourishing, giving a positive drive to the demand for structural wood screws.
The South African furniture industry has expanded its scope of sales and is exploring online selling platforms extensively. According to Semrush, in November 2022, the market traffic on the furniture industry’s online websites in Saudi Arabia was at USD 2.4 million, which is growing at 5.35% on a y-o-y basis.
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Structural Wood Screws Market Scope
Structural Wood Screws Market Companies
| Name | Profile | # Employees | HQ | Website |
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Middle East & Africa Structural Wood Screws Market Outlook Share, 2023 & 2030 (US$M)
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