Marine Fasteners Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2016–2024

Marine Fasteners Market
Marine Fasteners Market

Marine Fasteners Market

Marine Fasteners Market: Overview

In the manufacturing of the ship rebuilding and the construction of the new ships, the marine fasteners play a very important role; they require the capabilities to resist the high tensile, torsion, as well as compressive force. The complexity of the marine fasteners differs from various types of the marine vehicle.

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Marine Fasteners Market: Facts

The market player Marine Fasteners manufacture nuts that are graded with strength ratings that are attuned with their respective bolts; e.g., a 10 out of the ISO property class has the ability to bear the bolt proof strength load of 10.9 bolt of the ISO property class and that too without stripping.

Marine Fasteners Market: Segmentation

The global market for the marine fasteners is fragmented into its product type, the material used, and the application area. Based on the type of the product, the global market is segregated into bolts, toggles, washers, hog rings, screws, nuts, bits, nails, canvas fasteners, and others. Based on the type of the material, the market is categorized into aluminum, nickel alloys, plastic polyethylene, stainless steel, bronze/brass, rubber, nylon, and others. Based on the applications, the market is divided into fishing vessels, offshore support vessels, merchant marine, yacht/recreational boat, military, and others.

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Marine Fasteners Market: Growth Factors

There has been a huge transformation in the materials of the marine vehicle body and the increasing trends towards the lightweight bodies are the major factors that are driving the marine fasteners market. The shift in the focus on the development of the new product and innovations that are made in the existing product anticipates triggering the growth of the market. Another factor that is influencing the growth of the market is the rise in the shipbuilding activities. There are a huge number of market players present in the marine fasteners market which is creating a situation of tough competition. This situation creates price pressure on the manufacturers and they are struggling to meet their profit margins. The market for the marine fasteners will be impacted by the oil and the gas industry.

Marine Fasteners Market: Regional Analysis

The region that is dominating the marine fasteners market in Asia Pacific region owing to the fact that the countries such as China, South Korea, and Japan are the major shipbuilding destinations which increase the demand for the marine fasteners. In the coming years, the region will be experiencing a steady growth in the market. Following Asia Pacific region is Europe. Europe anticipates being the next big market for the marine fasteners. Europe is the major competitor in the shipbuilding and rebuilding sector. The countries that will contribute to the growth of the market are the U.K., Romania, Poland, Germany, and others.

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Marine Fasteners Market: Competitive Players

The key market players that are involved in the marine fasteners market include Seastar Solutions, Fasco Fasteners, HandiMan Marine, Perfect Fit – McDonald Inc., Attwood Marine Products, Marine Fasteners, Inc., Bainbridge Marine, Arrow Fastener Company, LLC., Sea-Dog Corporation, and others.

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