IndustryNet Account
For Buyers:
  • View Search History and Save Searches
  • Save Supplier Listings and Add Notes
  • Save and Review RFQs / RFIs / RFPs
For Suppliers:
  • Update Your Listing Information
  • Upgrade Your Listing or Add Categories
  • View and Respond to Leads

 Keep me logged inForgot?

Don't have an account? Create a FREE account now!
close
IndustryNet
      

IndustryNet Blog

Spotlight on the U.S. fastener industry

Posted by IndustryNet on Friday, May 19, 2017

00000010_fasteners_2Over the next few years, manufacturing industry experts anticipate continued expansion in the U.S. fastener market, which bodes well for all manufacturers worldwide. Fresh data concerning the health of the fastener industry in the U.S., including ancillary sectors, strongly suggest that this growth is not an aberration but rather a much-needed rebound. Certainly, challenges in the global manufacturing market persist, yet data is trending in a positive direction overall.

Increased job growth

IndustryNet's latest data provide cause for optimism as 2017 moves forward. At the time of this writing, the fastener industry in the U.S. encompassed 986 plant sites. Moreover, the fastener industry accounted for 53,872 jobs. This figure represented a 1.2 percent growth in employment.

Increased sales growth

Sales growth in the U.S. fastener industry coincided with solid job growth. Sales from December 2015 to December 2016 alone grew 11 percent. This expansion of the fastener market is not negligible but rather suggests that global economic conditions may be stabilizing with respect to manufacturing in the U.S.

Top fastener manufacturers by sales growth

The best performers over the last year stand apart from their peers as industry-leading companies. Based on sales growth, the following are among the top fastener manufacturers in the U.S. in 2016:

  1. Vico Products Co
  2. G.L. Huyett
  3. ESNA
  4. Associated Fastening Products, Inc.
  5. Fastener Supply Co.
  6. Heartland Precision Fasteners
  7. Innovative Components, Inc.
  8. Precision Threaded Products, Inc.
  9. Stafast Products, Inc.
  10. Fastenal Co. 

Aside from these successful enterprises, many other fastener manufacturers, including small businesses with revenues at or below 1 million dollars, recorded positive growth despite macroeconomic headwinds from overseas.

Company ownership and distribution   00000010_washers-1531051_960_720

IndustryNet's latest data also show positive trends with respect to the ownership of fastener companies. For instance, 2.6 percent of fastener manufacturers are owned by women, and approximately 0.8 percent are owned by minorities. Both of these data points correlate with increased employment and sales growth.

Diving deeper into the data, aerospace manufacturers that employ the most workers overall continued to create more jobs than their peers, according to IndustryNet's findings.

On the other hand, automotive manufacturers, one of the largest consumers of industrial fasteners, held steady.

Similarly, the market for cold-headed fasteners remained stable. Increased sales for the industrial fastener segment also portended a positive trend for U.S. fastener manufacturers in general.

Today, the market for fastener manufacturers in the U.S. is on the cusp of yet another growth phase. Companies interested in connecting with all U.S. fastening companies can visit IndustryNet for more information.

Download the FREE eBook:
Cost-effective Industrial Sourcing, an Insider Guide
Cost-effective Industrial Sourcing, an Insider Guide
A must-have guide for engineering, operations, & purchasing executives!
Finding the right industrial supplier and related services can be a costly and tedious process. This free eBook will introduce you to the industrial sourcing process. Expert advice to help you:
  • Explore some innovative methods for uncovering new suppliers
  • Discover the 7 crucial questions you need to ask a potential supplier
  • Learn how to zero in on a supplier's capabilities to help you make an informed decision



Instant download! Enter your information above for instant access to the eBook. Plus, receive a free subscription to IndustryNet Insider.
A service of MNI
 Find a Supplier  About IndustryNet  Contact IndustryNet
 Get a Quote  Buyer Reviews  Link to IndustryNet
 IndustryNet Blog  Marketing Solutions  Terms of Use
 Create Free Account  Add or Upgrade Listing  Legal Information
 Account Log In  Browse All Categories  Privacy Policy
 ISO Standards & Certifications  Browse All Companies  Do Not Sell My Personal Information