Fasteners Procurement Intelligence
The fasteners category is anticipated to grow at a CAGR of 4.42% from 2023 to 2030.
APAC holds the largest category share of over 40% and it is expected to be the fastest growing region during the forecast period. The increased use in the construction and automotive industries is driving considerable growth in the fasteners category. These fasteners are semi-permeant or occasionally permeant solutions, and the development of the construction industry, research and development initiatives, urban real estate infrastructure, and technological developments in the production of lightweight goods for the automotive and other industrial sectors are all factors that have an impact on their growth. The creation of innovative and novel industrial fasteners also helps the category growth.
Order your copy of the Fasteners category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Fasteners Procurement Intelligence Report Scope
The Fasteners category is expected to have pricing growth outlook of 3-6% from 2023 to 2030, with below pricing models.
- Cost-plus pricing model
- fixed-fee pricing model
- discount pricing model
Supplier Selection Scope of Report
- Cost and pricing
- Past engagements
- Productivity
- Geographical presence
Supplier selection criteria of Report
- Quality assurance
- service level agreement
- environmental compliance
- lead times
- technical specifications
- operational capabilities
- regulatory standards and mandates
- category innovations
- others
Fasteners Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2022 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Fasteners Procurement Cost and Supplier Intelligence
Raw material, labor, machinery equipment, and energy form the major cost components of this category. Raw material is the largest cost component accounting for around 60% - 70% of the total cost followed by labor at roughly 20%. The war between Russia and Ukraine has affected the supply of raw materials (copper, aluminum, etc.), as Russia produces roughly 4% of the world's copper and about 6% of its aluminum. The fasteners category is an example of an industry where suppliers implement cost-plus pricing model. This is because fasteners are typically low-cost, commodity products with little differentiation between brands. As a result, companies in this industry often compete on price, and cost-plus pricing is a simple and easy way to set prices that are competitive.
China, and India are among the most of the preferred sourcing destinations in this category.China has a robust manufacturing industry and offers a wide range of suppliers with diverse capabilities and cost-effective production options. India is a popular destination for metalworking processes due to its established manufacturing sector. For sourcing fasteners, research the market to understand the types, quality, and prices available. Develop a sourcing strategy by identifying the needs, budget, and potential suppliers. Build relationships with suppliers to get the best prices and quality fasteners. Negotiate prices, especially if buying in bulk. Document all the terms conditions to avoid discrepancies. Monitor suppliers to ensure they meet the agreed quality standards. Use a variety of sources for the best prices and quality.
List of Key Suppliers
- Arconic Fastening Systems and Rings
- Acument Global Technologies Inc
- ATF Inc.
- Dokka Fasteners AS
- LISI Group
- Nippon Industrial Fasteners Company
- Hilti Corporation, MW Industries Inc.
- Birmingham Fasteners and Supply Inc.
- SESCO Industries Inc.
Add-on Services provided by Grand View Research Pipeline:
- Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
- Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
- Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
- Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: MAs, technological innovations, expansion, litigations, bankruptcy etc.
Browse through Grand View Research’s collection of procurement intelligence studies:
Enzymes Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement Operating Model, Competitive Landscape)
Cold Chain Logistics Procurement Intelligence Report, 2023 - 2030 (Revenue Forecast, Supplier Ranking Matrix, Emerging Technologies, Pricing Models, Cost Structure, Engagement Operating Model, Competitive Landscape)
Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
