Structural Wood Screws Market Size, Share & Trends Analysis Report By Type (Carbon Steel, Stainless Steel), By Application (Construction, Furniture & Crafts), By Region, And Segment Forecasts, 2024 - 2030

Structural Wood Screws Market Trends

The global structural wood screws market size was estimated at USD 4.37 billion in 2023 and is expected to grow a CAGR of 5.0% from 2024 to 2030. The market growth is expected to be driven by increasing construction activities in various regions such as Asia Pacific, Europe, and North America.

Structural wood screws are highly preferred in construction projects to fasten wood-to-wood or wood-to-other materials such as steel and metals. The investments in the global construction industry are increasing, which in turn is anticipated to surge the number of construction projects. According to Oxford Economics, the overall output of the global construction industry was USD 10.7 trillion in 2020 and is expected to witness a growth of approximately 42% in the coming years to reach the projected size of USD 15.2 trillion by 2030.

Over the next ten years, the global construction industry is anticipated to register an average annual growth of 3.6%, outpacing both the manufacturing and services industries. This is anticipated to drive the demand for structural wood screws, thereby leading to the growth of the market globally over the forecast period.

Structural wood screws are considered ideal substitutes for various conventional screws such as lag and wood screws, which is further expected to propel the demand for the product globally. The product is considered a heavy-duty fastener and ensures more secure and stronger bonds compared to traditional screws. These screws can be installed without pre-drilling a pilot hole, which saves a lot of time. The product is used for various applications such as timber construction, log, framing, deck construction, fastening wood-to-wood, and cabinet construction.

Stainless steel is highly preferred for manufacturing structural wood screws owing to its various attributes, such as durability, resistance to corrosion, and high strength. Furthermore, carbon steel is used for manufacturing structural wood screws owing to its ability to bear loads and its high tensile strength. In addition, the products made from carbon steel are relatively less expensive compared to stainless steel structural wood screws, which is expected to increase the demand for carbon steel structural wood screws in the market.

Technical innovations and improvements in the production processes of structural wood screws have resulted in the development of products with high durability and strength. The manufacturers are adopting various production processes such as cold forming, to improve the quality of the product. Moreover, numerous domestic and international players focus on achieving a stronghold in the market by offering their products at competitive prices. They also emphasize the adoption of effective pricing strategies to maintain their presence in the market.

Leading manufacturers of structural wood screws include SFS Group, Simpson Strong-Tie, Grip-Rite (PrimeSource Building), TR Fastenings, The Hillman Group, Inc., MiTek, and Kyocera Senco. The global market also has various medium- and small-sized manufacturers of structural wood screws that offer products to cater to the requirements of local markets. The competition is intense owing to low product differentiation. In addition, the presence of several raw material suppliers and the easy manufacturing process of screws results in new entrants of the players. Thereby surging the intensity of the competition prevailing in the market.

Industry Dynamics

The market growth stage is medium, at an accelerating pace. The market is witnessing products that will aid in reducing the required time as well as cost. Structural wood screws do not require pre-drilling, prevent timber splitting, and at the same time, give a much stronger and long-lasting connection. These characteristics of structural wood screws save time, which results in cost savings leading to a high degree of innovation.

A few market players are also engaged in mergers and acquisitions to increase their market presence and portfolio in several regions. For instance, in April 2022, Simpson Strong-Tie, a manufacturer of building solutions and structural connectors, acquired ETANCO Group, a manufacturer of fastening and fixing solutions.

The market for structural wood screws is governed by many governmental regulations, which provide guidelines for the dimensions and specifications to produce screws for a particular application. For instance, CEN EN 14592, a European standard, directs how screws used in timber construction or structures should be manufactured, keeping in mind the stiffness and durability of the product.

Superior properties of composites, such as design flexibility, corrosion resistance, and high performance at elevated temperatures, reduce the threat of substitutes to some degree. However, the presence of cement, shotcrete, epoxy mortar, anchors, and epoxy resins is expected to remain a key threat. Owing to these factors, the threat of substitutes remains high.

The market is expected to witness low product substitution owing to exceptional properties exhibited by structural wood screws. The product provides a more secure connection than any other traditional screws. The application of structural wood screws is increasing widely globally with its adoption in framing, deck construction, timber construction, and cabinets.

Type Insights

Stainless steel structural screws dominated the market, valued at USD 3.43 billion in 2023. This material can resist external and internal hydrogen-induced cracking. In addition, a layer of chromium oxide, which is formed at the external surface of stainless steel structural wood screws, provides them with self-repairing capability, thereby increasing their global demand.

Stainless steel structural wood screws are used in construction, home decor, DIY, and remodeling of homes. They are highly preferred in outdoor applications, such as in the development of decks, owing to their anti-rusting and -corrosion properties. Moreover, these screws also enhance the aesthetic appeal of products developed using them. All these factors are further expected to surge the demand for stainless steel structural wood screws for usage in furniture and home décor applications.

The carbon steel segment of the structural wood screws market is projected to reach USD 1.35 billion by 2030, at a CAGR of 5.5% over the forecast period. Structural wood screws manufactured from carbon steel possess high load-bearing and tensile strengths. In addition, carbon steel structural wood screws are good at resisting abrasion and retaining their original shape. This makes them a preferred choice as fastening materials for heavyweight wood structures.

Carbon steel structural wood screws lack the property of corrosion resistance; however, they are considered more durable and stronger than stainless steel screws. This increases the application of carbon steel structural wood screws in heavyweight wood structures. Moreover, the adoption of carbon steel screws is expected to grow over the forecast period owing to their low costs.

Application Insights

The construction segment dominated the market by capturing a value share of 70.6% in 2023, and it is expected to be the fastest-growing segment at a CAGR of 5.2% over the forecast period. The flourishing commercial, residential, and retail segments worldwide are driving the growth of the construction market. In addition, surging investments by governments of different countries in their respective construction industries are expected to drive global construction activities. This, in turn, is anticipated to fuel the growth of the market over the forecast period.

Increasing investments in commercial constructions such as hotels, hospitals, and educational institutes are also projected to have a positive impact on the industry growth over the forecast period. New residential and commercial construction projects are opting for structural screws as they provide long-term solutions for wood framings. The product is manufactured with stainless steel, which is corrosion-resistant and capable of maintaining its original state for a long time. Although, the product is comparatively expensive owing to its build-in properties, rising consumer disposable income and living standard of people have further added to the demand for the product.

The furniture and crafts application segment is anticipated to reach USD 1.47 billion by 2030. Growing population, increasing consumer disposable income, rapid urbanization, and changing consumer lifestyles are expected to influence the demand for furniture, thereby positively impacting the structural wood screws market.

Structural screws are used in manufacturing furniture and crafts related to wood. The rising global demand for personal computer cabinets at home and workplace is also expected to propel the demand for the product for manufacturing furniture. In addition, the growing demand for space-saving, multifunctional, and flat-pack furniture is further expected to drive the growth of the structural wood screws market.

Regional Insights

The North America structural wood screws market is expected to grow significantly from 2024 to 2030 owing to the increasing consumer spending on construction, interior decoration, and modification of furniture.

U.S. Structural Wood Screws Market Trends

The structural wood screws market in the U.S is driven by increasing investments in public infrastructure development projects in the country.In addition, the demand for furniture and other aesthetic woodcraft has also been rising in the U.S. owing to increasing consumer disposable income, which directly surges the demand for structural wood screws.

Asia Pacific Structural Wood Screws Market Trends

Asia Pacific structural wood screws market is anticipated to register the fastest CAGR of 6.5% over the forecast period. The increasing construction of commercial & residential buildings and infrastructure in the region is propelling the growth of the construction industry. In addition, the rising disposable income of consumers in developing countries in the region, such as India and China, has resulted in a surge in spending on interiors such as furniture. This is expected to increase the demand for the product in the region.

China structural wood screws market is anticipated to grow at a CAGR of 7.0% 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 the product is expected to increase with the rising construction activities in the country.

The remote work policies have increased the demand for home office furniture such as laptop tables and cabinets. Structural wood screws are used in these products for fastening wood-to-wood or wood-to-metal structures. Thus, rising demand for furniture is expected to push the India structural wood screws market growth.

Europe Structural Wood Screws Market Trends

Europe structural wood screws market reached a revenue of USD 1.85 billion in 2023. The region has well-established construction and furniture industries owing to the presence of extensive investors. This is expected to drive the growth of the construction industry in Europe, thereby fueling the growth of the market in the region.

France structural wood screws market is expected to register the fastest growth in terms of revenue with a CAGR of 5.0% from 2024 to 2030. The growth of the market in France can be attributed to the presence of established furniture manufacturers in the country, such as MAISONS DU MONDE, Sequana, Grosfillex, and Home24.

The structural wood screws market growth in the UK is expected to be driven by the increase in construction and restoration activities related to housing units, offices, educational institutes, hotels & restaurants, resorts, transport buildings, online retail warehousing, etc., in the country.

Structural wood screws market in Germany is projected to grow at a CAGR of 4.0% over the forecast period owing to the flourishing construction industry in the country. The factors driving investments in this industry in Germany are favorable government incentives, digitization, and resource efficiency in terms of raw materials, along with the presence of a circular economy.

Central & South America Structural Wood Screws Market Trends

Central & South America structural wood screws market is anticipated to grow at a CAGR of 4.7% over the forecast year 2024 to 2030. The growth of the market in this region can be attributed to the flourishing construction industry in the region.

The structural wood screws market in Brazil is projected to grow at a significant rate during the forecast period owing to ongoing urbanization and increasing purchasing power of individuals. This, in turn, is surging the demand for renovating buildings and furniture. This is anticipated to surge the demand for structural wood screws used in furniture and other wooden structure.

Middle East & Africa Structural Wood Screws Market Trends

The structural wood screws market in Middle East & Africa accounted for a revenue of USD 191.5 million in 2023. The ongoing investments in the residential, commercial, and hospitality sectors by developing countries are the key factor driving the demand for construction activities, which, in turn, is leading to the product demand.

Key Structural Wood Screws Company Insights

Some of the key players operating in the market include Simpson Strong-Tie Company, Inc., SPAX International GmbH & Co. KG, SFS Group,Eurotec, and Kyocera Senco:

• SPAX International GmbH & Co. KG is involved in the production of fasteners, fastening systems, assemblies, membranes, and plastic components. The product portfolio of SPAX International includes screwfinders, universal screws, construction screws, special screws, stainless steel screws, window construction screws, and extras. The customers of the company include industries, brand manufacturers, craftsmen retailers, specialist retailers, and DIYers.

• Simpson Strong-Tie Company, Inc. specializes in developing structural materials that enable people to construct homes and structures that are more secure and robust. The product line of the company includes fasteners; wood, steel, and structural connectors; anchor systems for concrete and masonry, strong-wall prefabricated shear walls, strong-rod systems for multi-story buildings, and Quik Drive auto-feed screw driving systems.

GRK Fasteners, Kreg, FastCap, and Wurth are some of the emerging market participants in the market:

• GRK Fasteners is involved in the production and supply of multipurpose and high-quality fasteners and screws. Furthermore, the company’s product portfolio includes R4 Multi-Purpose Screw, RSS Rugged Structural Screw, Low Profile Cabinet Screw, FN/Trim Finishing Trim Head Screw, RT Composite Trim Head Screw, and Star Drive Bits.

• Kreg is involved in manufacturing tools, equipment, and accessories for woodworkers. Furthermore, its product portfolio includes pocket-hole joinery, cutting, clamping, routing, cabinet solutions, and workspace products.

Recent Developments

• In April 2022, Simpson Strong-Tie Company, Inc. introduced the 2” structural wood screw to its segment of Outdoor Accents Essential decorative hardware. The product can be used for the purpose of adding flair to most outdoor projects. This addition made the company’s structural wood screws available in three sizes such as 2″, 3½” and 5½”

• In April 2022, Simpson Strong-Tie Company, Inc. completed the acquisition of the ETANCO Group. The acquisition will enable a significantly improved product portfolio and an expanded presence in existing markets. It will improve building envelope solutions for industrial and commercial projects and expand the market channel reach in Europe.

Structural Wood Screws Market Report Scope

Global Structural Wood Screws Market Report Segmentation

This report forecasts revenue & volume growth at global, regional & country levels and provides an analysis on the industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global structural wood screws market report on the basis of type, application, and region:

• Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Carbon Steel

  • Stainless Steel

• Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • Construction

  • Furniture & Crafts

  • Other Applications

• Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Europe

    • UK

    • Germany

    • France

    • Italy

    • Sweden

  • Asia Pacific

    • China

    • India

    • japan

    • South Korea

    • Singapore

  • Central & South America

    • Brazil

    • Argentina

    • Colombia

  • Middle East & Africa