North America Non-structural Stainless Steel Fasteners Market Size, Share & Trends Analysis Report By Application (Decking, Siding, Trim), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

TheNorth America non-structural stainless steel fasteners market sizewas estimated atUSD 269.8 million in 2022,预计年复合增长的恶性肿瘤h rate (CAGR) of 4.7% from 2023 to 2030. This growth is attributed to the flourishing construction industry in North America as a result of rising disposable incomes and the growing population in the region. With the rise in consumer spending, there has been a growing trend of remodeling homes. This trend is also increased since the pandemic as people started spending more time at home, which has increased the non-structural remodeling activities such as the construction of decks or exterior and interior home renovation through do-it-yourself (DIY) or with the help of professional contractors. This, in turn, is anticipated to increase the demand for non-structural stainless steel fasteners for connecting wood-to-wood products.

The U.S. has been dominating the non-structural stainless steel fastener market in North America in terms of volume owing to the flourishing construction industry in the country. The construction of residential buildings in the U.S. is expected to surge in the coming years owing to deleveraging, along with flat hourly wages and slacked labor markets. These factors are expected to enhance residential construction activities in the country, thereby, influencing the demand for non-structural stainless steel fasteners over the forecast period.

Non-structural stainless-steel fasteners are manufactured usingstainless steel. There has been an increase in the demand for steel across the world, primarily from other regions such as Asia Pacific. The surging demand for steel from the automotive, shipbuilding, and consumer goods industries has resulted in companies stocking up on the material, leading to reduced availability of stainless steel in the global market. This ultimately results in fluctuations in the prices ofsteel, which acts as a restraint to the growth of the non-structural stainless steel fasteners market across North America.

非结构性不锈钢制造商steners in North America use online and offline sales channels for their products. Online sales channels enable users to purchase non-structural stainless steel fasteners either directly from their manufacturers through their web portals or from third-party online distributors, whereas offline sales channels sell non-structural stainless steel fasteners through conventional physical stores.

The leading fastener manufacturers in the market have long-term contracts with producers and contractors. The prices of fasteners fixed by their manufacturers are the result of the purchase volume of non-structural stainless steel fasteners and the duration of contracts. As a result, the prices of fasteners and the profit margins of their manufacturers vary in this market.

Application Insights

Based on application, the North America non-structural stainless steel fasteners market is segmented into decking, siding, trim, and other applications. The decking segment accounted for a significant revenue share in 2022, and it is estimated to grow at the fastest CAGR of 5.3% over the forecast period.

The growth of the decking segment can be attributed to the prevailing trend of expanding and renovating living spaces in the U.S. and Canada. Since the outbreak of the COVID-19 pandemic, people have started spending increased time in their backyards. The high-income population in the region is using garden areas or backyards to extend building structures into trendy dining areas, cooking spaces, and entertainment and relaxation areas, which has surged demand for non-structural stainless steel fasteners for connecting wood-to-wood products.

The trim application segment of the non-structural stainless steel fasteners market in North America is growing at a significant rate over the forecast period. Trim is a decorative non-structure framing that is commonly made from wood,polyurethane,polyvinyl chloride(PVC),聚苯乙烯和用于windows,做ors, and wall edges. With rising home renovation activities in North America, the use of trims to improve the interior appearance of houses is also increasing. This, in turn, is projected to surge the demand for non-structural stainless steel fasteners for connecting trims to buildings over the forecast period.

The siding application segment accounted for a significant revenue share in 2022. In the U.S. and Canada, most homes are constructed using wooden frames that have sheathed plywood exterior walls. House wraps are installed on exterior plywood walls to protect them. It is followed by the installation of siding over house wraps not only to enhance the aesthetic appeal of houses but also to protect them from water. The increasing utilization of siding in residential and commercial buildings is expected to surge the requirement for bonding components in the coming years. This, in turn, is anticipated to augment the demand for non-structural stainless steel fasteners in North America in the coming years.

Regional Insights

The economy of North America is highly diverse owing to the presence of major developed and advanced economies such as the U.S. and Canada in the region. The construction industry in North America is witnessing significant growth owing to the increasing population, ongoing globalization, and rising disposable income of consumers. These factors have surged the demand for residential construction activities in countries of North America, thereby fueling the demand for non-structural stainless steel fasteners in the region.

The construction industry in Canada is growing at a significant rate. The growth of this industry in the country can be attributed to the increasing number of immigrants in Canada, which has resulted in a surging requirement for housing units and infrastructure and further supported the growth of the non-structural stainless steel fasteners market in the country.

The U.S. non-structural stainless steel fasteners market dominated with USD 224.5 million in 2022.Wood-framed construction dominates the frame construction segment in the U.S. The surged demand for wood-framed construction can be attributed to the easy availability of wood at prices lower than cement, along with the ease of construction offered by wooden houses and the low taxes associated with them. With the rise in the construction of wooden houses, the demand for non-structural stainless steel fasteners is expected to surge significantly in the U.S. This is anticipated to positively impact the growth of the market in the country in the coming years.

Key Companies & Market Share Insights

朝鲜一merica non-structural stainless steel fasteners market is moderately competitive due to the presence of several small and medium-scale manufacturers in the industry. Some of the major players in the market include Simpson Strong-Tie Company, Inc.; The Hillman Group, Inc.; Eagle Claw Fasteners; and FastenMaster. Moreover, with the growing construction industry, there is a rise in parallel demand for non-structural stainless steel fasteners, which will create opportunities for new entrants, thus intensifying competition in the coming years.

These companies are continuously engaged in adopting strategies such as new product launches and mergers & acquisitions to gain a competitive advantage and maintain their positions in the industry. Moreover, major players in the market are involved in strategic tie-ups with distributors and retailers to increase their geographical reach, which is expected to increase the competition. Some prominent players in the North America non-structural stainless steel fasteners market include:

• Grip-Rite

• Associated Fastening Products, Inc.

• Simpson Strong-Tie Company, Inc

• Maze Nails

• FastenMaster

• Starborn Industries, Inc.

• KD FASTENERS, INC.

• KUIKEN BROTHERS

• Camo Fasteners

• Eagle Claw Fasteners

• The Hillman Group, Inc.

• Star Stainless Steel

• STANLEY BLACK & DECKER, INC.(Bostitch)

• Ford Fasteners

North America Non-structural Stainless Steel Fasteners Market Report Scope

Report Attribute	Details
Market size value in 2023	USD 281.7 million
Revenue forecast in 2030	USD 390.8 million
Growth Rate	CAGR of 4.7% from 2023 to 2030
Base year for estimation	2022
Historical data	2018 - 2021
Forecast period	2023 - 2030
Quantitative units	Revenue in USD million and CAGR from 2023 to 2030
Report coverage	Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered	Application, region
Regional scope	North America
Country scope	U.S.; Canada; Mexico
Key companies profiled	Grip-Rite; Associated Fastening Products, Inc.; Simpson Strong-Tie Company, Inc.; Maze Nails; FastenMaster; Starborn Industries, Inc.; KD FASTENERS, INC.; KUIKEN BROTHERS; Camo Fasteners; Eagle Claw Fasteners; The Hillman Group, Inc.; Star Stainless Steel; STANLEY BLACK & DECKER, INC. (Bostitch); Ford Fasteners
Customization scope	Free report customization (equivalent up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options	Avail customized purchase options to meet your exact research needs.Explore purchase options

North America Non-structural Stainless Steel Fasteners Market Report Segmentation

This report forecasts revenue growth at regional & country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the North America non-structural stainless steel fasteners market report based on application and region:

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

  • Decking

  • Siding

  • Trim

  • Other Applications

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

  • North America

    • U.S.

    • Canada

    • Mexico