Brazil Industrial Fasteners Market Size, Share & COVID-19 impact Analysis, By Material (Metal Fasteners and Plastic Fasteners), By Product (Internally Threaded Fasteners, Externally Threaded Fasteners, Non-threaded Fasteners, Aerospace Grade Fasteners), By Application (Automotive, Aerospace, Building & Construction, Industrial Machinery, Home Appliances, Lawns & Gardens, Motors & Pumps, Furniture, and Others), and Forecast, 2022-2029

The Brazil industrial fasteners market size was valued at USD 2.31 billion in 2021. The market is projected to grow from USD 2.38 billion in 2022 to USD 3.07 billion by 2029, exhibiting a CAGR of 3.7% during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with industrial fasteners experiencing lower than anticipated demand across the country compared to pre-pandemic levels.

Industrial fasteners are hardware devices that can be used to join two or more objects. The primary role of fasteners is to promote safety by joining the joints. They include nuts, screws, bolts, studs, rods, anchors, rivets, and sockets. Fastener products also include the assembly equipment, tools, and related supplies required for installation. Industrial fasteners play a pivotal role in industries such as automotive, construction, aerospace, furniture, and others.

COVID-19 IMPACT

Supply Chain Irregularities amid Lockdown Hampered Market Growth

The COVID-19 pandemic has created huge supply chain disruptions. Companies operating in the market began their operations during the last quarter of 2020. The metal processing and manufacturing activities initiated with stated preventive measures, which supported the production of industrial fasteners. Staff working in manufacturing facilities underwent regular examinations to curb the virus's spread.

Major consumers of fasteners, such as automotive manufacturing, were shut down during the COVID-19 pandemic. Numerous companies shut down their manufacturing facilities or reduced their production activities due to workforce and material availability restrictions. For instance, according to Anfavea (the Brazilian Automotive Industry Association), the production of cars or light commercial vehicles dropped by 48.8% in 2020 compared to 2019. In addition, the building and construction activities were put on hold to minimize the transmission of COVID-19, which significantly impacted the demand for industrial fasteners.

LATEST TRENDS

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Replacement of Steel by New Materials to Acts as a Huge Trend

Steel has always been the material of choice for the production of industrial fasteners. This scenario is expected to change as more novel materials are being developed and adopted. The automotive industry is actively adopting new materials such as aluminum, plastics, and other composites. These innovative materials used to build vehicle structures allow for the development of significantly lighter vehicles with better structural strength.

As the automobile industry transitions toward using these novel materials, joining them with standard fasteners are getting increasingly complicated. To solve this issue, manufacturers are developing new fasteners that can withstand high load vehicle structures face during their service life. For instance, innovative materials, such as carbon fiber-reinforced polymers, have been employed in various applications. To join such high-tech materials, EJOT developed the FLOWpoint DELTA PT screw, which uniquely combines two successful EJOT technologies. The new screw is available in stainless steel, aluminum, and titanium that could be used for hybrid joining (for example, aluminum to carbon fiber reinforced plastics).

DRIVING FACTORS

Rising Demand from the Construction Industry to Drive Market Growth

The exponential rise in the population in Brazil and increasing disposable income resulted in a surge in investments in residential and commercial buildings. Fasteners in the building and construction industry are used for heavy-duty applications to join two or more components together in a non-permanent manner. The industry requires precision and strength. Hence, materials, such as carbon steel, stainless steel, and alloys, are used to manufacture fasteners. Plastics are also used to manufacture fasteners owing to their comparable strength, corrosion resistance, and durability. The increase in focus of consumers toward the aesthetic appeal of residential and commercial establishments will surge the demand for fasteners.

The rapid increase in population in the country has effectively boosted the need for residential spaces such as bungalows and apartments. Rising demand for residential and commercial housing projects and government spending on infrastructure projects will boost the growth of the building and construction industry in Brazil, thereby surging the demand for fasteners. Rapid urbanization and infrastructure development activities in Brazil are likely to positively affect market growth. The initiatives by the government to develop the infrastructure of the country have provided a boost to domestic manufacturing activities, thereby facilitating the Brazil industrial fasteners market growth.

RESTRAINING FACTORS

Availability of Alternatives to Impede Market Growth

The increasing substitution of fasteners with alternatives such as adhesives and tapes is likely to hamper the market growth. Adhesives and tapes are increasingly replacing fasteners in places requiring applications such as bonding. The use of components, such as screws, bolts, brackets, and staples, to hold or fix components could be effective, but they add factors such as cost, complexity, and weight. Tapes and adhesives are being used in the automotive industry in place of fasteners to suppress noise, vibrations, and harshness caused due to the movement of vehicles. The use of methods such as clinching and welding is also rising in the automotive industry for joining two or more components. Thus, the availability of alternative solutions is likely to act as a restraint for the market.

SEGMENTATION

By Material Analysis

Metal Fasteners Segment Accounted for a Significant Share Due to Better Mechanical Strength

Based on material, the market is bifurcated into metal fasteners and plastic fasteners. The metal fasteners segment dominated the overall market in 2021. Primarily, there are two types of metal fasteners. The first one provides a non-moving bond and includes rivets, screws, nuts & bolts, retaining rings, and clamps. The second type allows relative movement of fastened parts and requires sliding adhesive or releasable non-permanent fastening products. This includes products such as quick-release couplers and clamps.

By Product Analysis

Externally Threaded Fasteners Segment to Dominate Owing to Rising Demand from the Automotive Industry

Based on product, the market is segmented into internally threaded fasteners, externally threaded fasteners, aerospace-grade fasteners, and non-threaded fasteners.

Rising demand from the expanding automotive industry is anticipated to support the high growth for the externally threaded segment. In addition, externally threaded fasteners such as studs are preferred over bolts in aerospace applications, owing to their high strength. The preference for air travel over other modes of travel is likely to benefit aviation manufacturing and simultaneously drive market growth.

By Application Analysis

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Automotive to Account for a Significant Share due to Rising Lightweight Vehicles Production

In terms of application, the market is divided into automotive, aerospace, lawns & gardens, building & construction, home appliances, motors & pumps, furniture, industrial machinery, and others.

The automotive segment dominated the market in 2021. Materials, such as stainless steel, aluminum, iron, nickel, plastic, and brass, are widely used to manufacture industrial fasteners used in the automotive industry. The rise in automotive production and a shift in focus toward lightweight vehicles are driving the market size. Producers are also shifting from standard to customized products. This, in turn, is expected to drive market growth.

COUNTRY INSIGHTS

The rise in disposable income of consumers has led to an increase in demand for automobiles, thereby boosting the Brazil industrial fasteners market growth. The presence of several small-scale automotive OEMs in the country will support industry growth. The growth of the industrial machinery segment is attributed to the rising number of oil exploration, mining, and building and construction activities in the country.

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The growth of industries such as industrial machinery and building & construction has substantially augmented the consumption of metal fasteners in Brazil. The increasing number of oil and gas exploration activities in Brazil will boost the demand for metal fasteners for heavy machinery and equipment applications. Rising demand for plastic fasteners over metal fasteners in automotive production on account of lightweight and improved aesthetics properties is expected to drive the overall market growth.

KEY INDUSTRY PLAYERS

Strategic Planning Adopted by Companies to Strengthen their Market Share

The Brazil industrial fasteners market share is highly fragmented. The major companies operating in Brazil include Belenus LTDA, Belenus LTDA, Hassmann SA, and Ferry International, among others. The companies in the market have been actively acquiring competitors to acquire better economies of scale and reduce competition. Several other companies, such as Grupo Hard, Precision Castparts Corp., HBS Solutions, WMI Group, Renaissance Fittings and Piping Inc., Jomarca, Metalbo Indústria de Fixadores Metálicos LTDA, INDUSTRIAL REX LTDA, Metalúrgica Fey Ltd, Acument Global Technologies, and METALTORK INDUSTRIA E COMERCIO DE AUTO PECAS LIMIT, are among other active participants in the market.

LIST OF KEY COMPANIES PROFILED:

• EJOT (Bad Berleburg)


• Grupo Hard (Joinville)


• Precision Castparts Corp. (Portland)


• HBS Solutions (Diemen)


• WMI Group (Mumbai)


• Renaissance Fittings and Piping Inc. (Mumbai)


• Belenus LTDA (Vinhedo)


• Jomarca (Guarulhos)


• Metalbo Indústria de Fixadores Metálicos LTDA (Trombudo Central)


• INDUSTRIAL REX LTDA (Porto Alegre)


• Metalúrgica Fey Ltd (Indaial)


• Hassmann SA (Imigrante)


• Ferry International (New Delhi)


• Acument Global Technologies (Michigan)


• METALTORK INDUSTRIA E COMERCIO DE AUTO PECAS LIMIT (Diadema)

KEY INDUSTRY DEVELOPMENTS:

• June 2020: Belenus acquired the Tellep Brand, a renowned fastener company owned by Metalac SPS Ind. e Com. Ltda. (Sorocaba, SP), a Precision Castparts Corp member group. The brand offers a line of screw hexagon sockets with several head kinds (cylindrical, flat, bulging, and others) and items made for their application in fastening systems with high resistance demand.


• August 2020 – Jomarca acquired the entire industrial park of South Brazil Furniture Accessories, owned by the Group South Brazil (GSB). This agreement consists of acquiring all lines of accessories from GSB, such as hinges and slides, except the plastic line of handles.


• June 2019 – EJOT Group acquired Finnish Company Sormat to expand activities in the Building Fasteners division and the area of anchoring technology.

REPORT COVERAGE

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The market research report provides qualitative and quantitative insights into the market share, size, growth rate, and trends analysis by different segments. The report also provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights presented in this market analysis report are Porter’s five forces, recent industry developments, regulatory scenarios, and key industry trends. The report also highlights the competitive landscape between key players operating in this market.

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