North America, Europe And Oceania Building And Construction Fasteners Industry 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.

Gather more insights about the market drivers, restrains and growth of the North America, Europe And Oceania Building And Construction Fasteners Market

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.

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Key Companies profiled:

Some of the prominent players in the North America, Europe and Oceania building and construction fasteners market include:

• 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

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