North America, Europe And Oceania Building And Construction Fasteners Market Size, Share & Trends Analysis Report By Material (Metal, Plastic), By Application, By Region, And Segment Forecasts, 2020 - 2028

Report Overview

The North America, Europe and Oceania building and construction fasteners market size was estimated at USD 4.07 billion in 2020 and is expected to expand at a compounded annual growth rate (CAGR) of 5.0% from 2020 to 2028. A rise in demand for residential and commercial constructions in North America and Europe is expected to drive the market. Moreover, increasing demand for modular constructions is likely to support the market. The COVID-19 outbreak in major economies of North America and Europe has negatively impacted the construction industry, thus the product demand witnessed downtrends in 2020. Also, economic instability in Oceania and European economies owing to suspension of trade and industrial operations has lowered the construction spending, thus, negatively influenced the market for building and construction fasteners.

The building and construction market in the U.S. is likely to grow at a compound annual growth rate of 4.8% over the forecast period. The construction industry in the U.S. remained stagnant in the second quarter of 2020 on account of restrictions on construction operations. However, the gradual resumption of industrial activities and pending construction projects in the country led to the demand momentum for construction fasteners from the third quarter of 2020.

The growth of the building and construction fasteners market in Europe is attributed to high investments in various countries such as Germany, the U.K., and France toward the development of the construction industry. In addition, development of the civil engineering projects such as railways, highways, power generation plants, and water treatment plants is expected to drive market growth.

The penetration of metal fasteners is expected to be high in building & construction applications as they offer high mechanical strength, impact resistance, and are less susceptible to harsh conditions such as high temperature and pressure. They are used in several applications such as the joining of sheet metals, the connection of doors and windows to walls, electrical connections.

The market in North America, Europe, and Oceania is highly competitive, owing to the presence of a large number of manufacturers. Significant development of commercial construction, coupled with the rising demand for green building materials in the region, has triggered market growth.

Material Insights

Metal fasteners led the North America, Europe and Oceania building and construction fasteners market and accounted for 93.0% share of the regional revenue in 2020. Metal fasteners are widely used in the construction of structures employing steel-to-steel connections. These fasteners are manufactured using several raw materials including stainless steel, aluminum, carbon steel, nickel, silicon bronze, copper, brass, alloy steel, and titanium.

Metal fasteners offer high mechanical strength, impact resistance, and are less susceptible to harsh conditions such as high temperature and pressure. However, these fasteners often tend to corrode when they encounter water, which hampers their performance and durability in end-use applications.

Plastic fasteners are witnessing high demand from the building and construction industry owing to their superior corrosion and chemical resistance properties as compared to metal fasteners. In addition, technological advancements in engineering plastic manufacturing have enabled the production of plastics with high impact and better mechanical properties as compared to traditional plastic products.

The high strength-to-weight ratio, moisture resistance, high sealing strength, and chemical inertia offered by these products are likely to open new avenues for segment growth over the forecast period. Also, plastic fasteners are more capable of withstanding UV rays as compared to metal fasteners; therefore, these are gaining high importance from construction and other industries.

Application Insights

Residential applications for building and construction fasteners led the market and accounted for about 56.3% of the revenue share in 2020. Affordable housing schemes, easy home loans, and the development of cheap rental housing in public-private partnerships in many European and North American countries are expected to drive the growth of the residential construction industry.

A rise in demand for single-family residential homes in Canada, Germany, the U.K., and Australia is expected to ascend the market over the forecast period. Moreover, increasing multi-family construction projects in developed economies of North America and Europe are anticipated to positively impact the market.

The demand for building and construction fasteners in non-residential applications is expected to be driven by the growing investments from various governments for the development of commercial facilities such as healthcare facilities, educational institutions, and shopping complexes. In addition, the development of new power generation facilities and water treatment facilities is expected to propel the segment growth.

Increasing investments in commercial constructions, such as hospitals, government, and private offices, hotels, and restaurants, are expected to have a positive impact on the building and construction fasteners industry growth over the forecast period. Moreover, increasing renovation of the existing facilities is likely to have a positive impact on the market.

Regional Insights

Europe led the market in 2020 with a revenue share of 50.2% and is anticipated to ascend at a compound annual growth rate of 5.5% over the forecast period. Increasing investments in the construction industry in major economies of France, Germany, and the U.K. are anticipated to drive the demand for construction fasteners.

The construction industry in Germany is expected to rise over the forecast period owing to the initiation of several measures by the government for the development of the housing industry in the country. In 2019, the government allocated USD 5.94 billion for the construction of 100,000 units over the next four years. In addition, it allocated USD 9.51 billion as a housing subsidy from 2018 to 2024 and announced several initiatives for the development of the civil engineering sector.

In North America, the development of several residential buildings, commercial complexes, industrial facilities, and infrastructural projects such as roadways, power generation, water supply, and communication are likely to support the market. Affordable housing schemes such as the Affordable Housing and Urban Poverty Programming Sector Adjustment Loan Project in Mexico and Housing Choice Voucher Program in the U.S. are expected to drive the residential construction industry, thus, benefitting the market growth.

The Australian government, in partnership with state and territory governments, has started a National Rental Affordability Scheme (NRAS) for the construction of affordable rental housing properties for low- and moderate-income earners. This is expected to create new growth opportunities for the manufacturers of building and construction fasteners in the residential application.

Key Companies & Market Share Insights

The market in North America, Europe, and Oceania is highly competitive on account of a large pool of players operating in respective regions. Major companies operating in the region include Dokka Fasteners AS, Copper and Turner Ltd., The Hillman Group, Inc., Acument Global Technologies, Inc., and Hilti Group among others.

Prominent players in North America and Europe are investing heavily in R&D to develop construction-specific fasteners with high durability and enhanced lifespan. Moreover, new product development and mergers and acquisitions are considered by these players to enhanced product portfolio and geographical reach. Some of the prominent players operating in the North America, Europe and Oceania building and construction fasteners market are:

• SPAX International GmbH & Co. KG

• The Hilllman Group, Inc.

• Midwest Fasteners, Inc.

• Arconic

• Dokka Fasteners AS

• Stanley Black & Decker, Inc.

• SFS Group

• Hilti Group

• MW Industries, Inc.

• Penn Engineering

• Illinois Tool Works Inc.

• Bossard Group

North America, Europe And Oceania Building and Construction Fasteners Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2028. For this study, Grand View Research has segmented the North America, Europe and Oceania building and construction fasteners market report based on material, application, and region:

• Material Outlook (Revenue, USD Million, 2017 - 2028)

  • Metal Fasteners

  • Plastic Fasteners

• Application Outlook (Revenue, USD Million; 2017 - 2028)

  • Residential

  • Non-residential

• Regional Outlook (Revenue, USD Million, 2017 - 2028)

  • North America

    • U.S.

    • Canada

  • Europe

    • Germany

    • U.K.

    • France

    • Denmark

    • Sweden

    • Norway

    • Poland

    • Latvia

    • Lithuania

    • Estonia

  • Oceania

    • Australia

    • New Zealand