Market revenue in 2023 | USD 117.6 million |
Market revenue in 2030 | USD 155.3 million |
Growth rate | 4.1% (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 |
Stainless steel was the largest segment with a revenue share of 76.45% in 2023. Horizon Databook has segmented the Mexico structural wood screws market based on carbon steel, stainless steel covering the revenue growth of each sub-segment from 2018 to 2030.
The construction industry in Mexico is growing at a significant rate owing to its increasing population and ongoing urbanization. In addition, the emergence of the country as an upcoming manufacturing hub has resulted in the establishment of numerous industries in Mexico.
A large population of the country has been migrating close to these facilities that has led to the development of new cities and the expansion of existing ones in Mexico. This also drives the growth of the construction industry in the country. Mexico is also experiencing a rapid increase in the development of commercial and residential spaces owing to surging demand for them from its continuously growing population.
The cities in the country have been witnessing rising demand for affordable housing units. For instance, in 2022, approximately 14,000 new homes were constructed in Mexico. The country still faces the demand for more than 60,000 new homes. This is anticipated to surge residential construction activities in Mexico in the coming years, thereby increasing the demand for structural wood screws in the country.
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