Australia And New Zealand Industrial Fasteners Market Observe Significant Growth Of USD 1.67 Billion By 2030Posted by Neha Bora on March 10th, 2023 San Francisco, 10 March 2023: The Report Australia And New Zealand Industrial Fasteners Market Size, Share & Trends Analysis Report By Raw Material (Metal, Plastic), By Product, By Application (Residential, Aerospace & Defense), And Segment Forecasts, 2022 - 2030 The Australia and New Zealand industrial fasteners market size is expected to reach USD 1.67 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to expand at a CAGR of 7.3% from 2022 to 2030. This growth can be attributed to rising commercial and residential construction activities and the growing aerospace and defense sector in Australia and New Zealand. Industrial fasteners manufacturers are opting for new technology in the manufacturing process, which allows them to install fasteners during the stamping process. This results in low operational costs and time and provides them with a competitive edge over other manufacturers as the adoption of new technology offers them the capability to perform two operations simultaneously in the minimum possible time. It also facilitates the manufacturer to have minimum hardware requirements in the assembly line. Players in the Australia and New Zealand industrial fasteners industry mainly compete based on product quality, product advancements, customer services, and pricing. Major companies are focusing on developing lightweight materials to cater to the increasing demand for industrial fasteners in the automobile and aerospace & defense industries. Technological development, easy availability of materials, and hassle-free manufacturing processes are resulting in high competition among players in Australia and New Zealand. Market differentiators are the players engaged in the production and distribution of industrial fasteners with distinctive characteristics. The players focus on technological advancements in various types of metals and plastics being used for the production of industrial fasteners, including nylon, ceramics, special alloys, and carbon fiber, to maintain their dominance in the competition. Increasing metal prices and the decelerating demand for industrial fasteners owing to their replacement by pressure-sensitive tapes, bonding sheets, and adhesives are expected to be key barriers for industrial fastener manufacturers in the market. The rising demand for adhesives in the automotive, construction, and aerospace industries for binding various materials is likely to hamper the demand for industrial fasteners over the forecast period. Access Research Report of Australia And New Zealand Industrial Fasteners Market @ https://www.grandviewresearch.com/industry-analysis/australia-new-zealand-industrial-fasteners-market-report Australia And New Zealand Industrial Fasteners Market Report Highlights
List of Key Players in Australia And New Zealand Industrial Fasteners Market
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