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Anchor Fasteners Market Segmented By product type such as Mechanical anchors and Adhesives anchors with application such as Building and construction, Electronic industry, Automotive industry, Mechanical & infrastructure industries
Anchor fasteners are used to attach structures or objects to concrete. They are lightweight used in the mechanical and infrastructure industries for numerous purposes, according to the industry standards. Anchor fasteners for industry purposes include various concrete anchors, clinching fasteners, rivet nuts, interlock rivets, and lock bolts, amongst others.
There are mainly two types of anchor fasteners, namely mechanical fasteners and chemical or adhesives fasteners. The fasteners work on the property of fiction to anchor themselves in a place, whereas adhesives fasteners require special adhesives to stick the anchors into hole. Without the right anchor, no structure can be held together safely; for choosing the right anchor first the entire structure to be examined.
Anchor fasteners also differ with the base material used during the construction, as if the material is drywell than the anchor fasteners are used for covering studded walls and ceilings in both commercial and residential purpose. The technological advancement in fasteners technology will further boost the demand for anchor fasteners.
The qualities associated with the anchor fasteners include lightweight, anticorrosive strength and finely finished among others are projected to driver the growth for anchor fasteners market. Increase in building and construction activities in developing countries is also expected to drive the demand for anchor fasteners.
Growing industrialization in emerging countries such as China, India, Brazil and South Africa is expected to fuel the demand for anchor fasteners globally during the forecast period. Improving economic conditions and rapid urbanization is also expected to increase the sales of anchor fasteners in emerging markets.
The restraining factor associated with the anchor fasteners is the expansion of anchor against the size of sides of the hole. This will further hamper the growth of anchor fasteners market.
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Asia Pacific anchor fasteners market holds a major share in terms of high production of auto parts in China and other countries. With growing building and construction activities in developing countries the anchor fasteners market is also tracing high growth from last few years.
Increase in electrical and electronic product manufacturing also provide growth opportunities for this region. North America followed by Europe also delivers high growth opportunities for anchor fasteners market. Moreover the rise in demand for high grade industrial fasteners will drive the demand for anchor fastener market.
People in developed regions such as North America and Europe consider home improvement and small maintenance activities as a favorable pastime. To leverage benefit of changing consumer preference toward DIY ethics, manufacturers are focusing on providing compact, portable and cost-efficient tool solution to household users. Furthermore, this trend is now significantly shifting to developing markets as well.
Emerging markets include countries undergoing rapid economic growth and industrialization and are poised to emerge as substantial markets such as Latin America and MEA market. Furthermore, the anchor fasteners market in Latin America and MEA is expected to show moderate growth over the forecast period.
Examples of some of the key market participants in the global anchor fasteners market are: