Screw Nuts Market Size, Share, Growth and Industry Analysis by Type (Stainless Steel, Alloy Steel, Carbon Steel, and Others) By Application (Automotive, Electronic, Construction & MRO, and Others), Regional Forecast To 2033

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SCREW NUTS MARKET REPORT OVERVIEW

Global Screw Nuts Market size was USD 21.4 Billion in 2024 and market is projected to touch 42.84 Billion by 2033, exhibiting a CAGR of 21.7% during the forecast period.

A screw nut is a type of a fastener which usually works together with thread rods, and screw bolts. However, the size of both the rod as well as the bolt must be of similar size. There are different types of screw nuts available in the market and they can be used for different requirements. It can also be defined as a nut which is threaded in order to get a screw.

Construction industry requires many laborers to carry out the work. This sector is experiencing a boom in some of the major cities of the world. With growth in construction, the market for screw nuts is also expected to develop. This is considered as the latest trend in the market.

Screw nut is used in many large-scale industries like construction, aerospace, automobile, and defense. Also, they are made up of good quality materials. Hence, they are very strong, sturdy, and durable. All of these factors have contributed in screw nuts market growth.

COVID-19 IMPACT

"Decline in Share of Construction Industry Decreased Market Growth"

The outbreak of pandemic of COVID-19, hit all the industries across the world severely. All the sectors suffered from low demand from the customers. Sales of all the products fell down due to which many companies suffered losses. Manufacturing became a challenge to most of the companies as raw materials were not available properly, and skilled labors could not be employed.

Similarly, construction industry also experienced a decline in its share, as the number of construction projects taken up during the time of pandemic was very less. Infrastructures were not being constructed during this time as lockdowns and social distancing was announced. This negatively affected the screw nuts market share as they are used extensively in construction industry.

LATEST TRENDS

"Increase in Number of Construction Projects Taken Up to Increase Market Growth"

Most of the metropolitan cities in nations are characterized by big buildings and infrastructures. Construction is a flourishing market in most of the economies that are developing as it provides employment a large number of people.

Recently, it has been observed that many large-scale construction projects have been taken up cities like California, New York, and Los Angeles to build malls, commercial buildings, hospitals, and other infrastructures. These nuts are very commonly during such construction. This is considered as the latest trend in the market.

SCREW NUTS MARKET SEGMENTATION

By Type Analysis

The market can be divided on the basis of type into the following segments:

Stainless steel, alloy steel, carbon steel, and others. The stainless-steel segment is anticipated to dominate the market during the forecast period.

By Application Analysis

Classification based on application into the following segment:

Automotive, electronic, construction & MRO, and others. The automotive segment is predicted to dominate the market during the research period.

DRIVING FACTORS

"Usage of Screw Nuts in Aerospace Industry to Accelerate Market Growth"

Apart from being extensively used in the construction sector, these nuts and bolts are also used in aerospace industry. Aerospace industry includes building aircrafts. This requires the usage of many screw nuts, bolts, wires, washers, and rivets. This is a major factor propelling the market growth.

Technical advancements and investments being made on aircrafts is promoting the market growth. Investments done by government on infrastructure and rise in demand for residential and commercial housing are further having a positive impact on the screw nut market growth. Defense industry also makes use of these nuts to in developing various weapons and vehicles. All of this is accelerating the market growth.

"Availability of High Quality of Screw Nuts to Propel Market Growth "

The most important reason why screw nuts are used in construction, aircraft and defense sectors is because they are made up of high-quality materials like stainless steel. Availability of better-quality nuts, has resulted in their incorporation even in the automobile sector.

Usually, these materials are used for the purpose of fixing various parts of the automobile. These screw nuts have exceptional strength and durability. The effort required to change them is also minimal. They are also used for welding. Use of screw nuts in many sectors is expected to increase the market growth.

RESTRAINING FACTORS

"Presence of Easy Substitutes in the Market to Bring Down Market Growth"

The major factor that can hamper the growth of screw nuts market is the presence of other substitutes. Other substitutes for screw nuts available in the market include, bonding tapes, and adhesives. They are cheaper when compared to screw nuts.

Several manufacturers go for the alternatives to avoid extra cost. Similarly, two other better substitutes include, car component clinching and welding. These are considered as the factors restraining market growth.

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SCREW NUTS MARKET REGIONAL INSIGHTS

"Asia Pacific to Dominate Market in Upcoming Years"

Asia Pacific has come out as the largest consumer of screw nuts during the research period. This region is expected to exhibit tremendous growth and development in the upcoming years due to industrialization and rapid growth of population.

With industrialization many infrastructures are being constructed. Rise in disposable income of people has led to the growth in demand for residential accommodations. Similarly aerospace industry is another booming sector in this region. Extensive use of screw nuts in this industry has contributed to the development of market in Asia Pacific.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Top Screw Nuts Companies

• Shanghai Tianbao Fastener (China)
• Yuxing (China)
• JIBIAO (China)
• ChangHu (China)
• FuQiang (China)
• QiKang (China)
• HengCheng (China)
• Yichunlai (China)
• Peerless Hardware (U.S.)
• Vikrant Fasteners (India)
• Midwest Acorn Nut (U.S.)
• Buckeye Fasteners (U.S.)
• Texas Bolt & Nut (U.S.)
• Mid-State Bolt and Nut (U.S.)
• PCC Fasteners (U.S.)
• National Bolt&Nut (U.S.)
• Accurate Mfd Products (U.S.)

REPORT COVERAGE

The report provides an insight into the global and United States talent assessment industry from both the demand and supply sides. Further, it also gives information on the impact of COVID-19 on the market, the driving and the restraining factors along with the regional insights. Market dynamic forces during the forecast period have also been discussed for the better understanding of the market situations. This report is very useful for forecasting the future of this technology. A list of key industry players have also been listed to understand the competition in the market.