First Research US Industry Profile

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Hardware & Fastener Manufacturing
SIC Codes: 3429, 3451, 3452
NAICS Codes: 33251, 33272
Last Quarterly Update: 6/20/2022
Companies in this industry manufacture hardware (including metal hinges, handles, keys, and locks), fasteners (including metal nuts, bolts, screws, and rivets), or precision turned components; and engage in precision turning services. Major companies include Illinois Tool Works, MNP Corporation, Precision Castparts, and Simpson Manufacturing (all based in the US), as well as Adolph Würth (Germany), Aoyama Seisakusho (Japan), Chun Yu Works (Taiwan), KPF (South Korea), and Ningbo Jiulong Fasteners Manufacture (China).
Driven by increased production of automobiles, machinery, and other durable goods, global demand for industrial fasteners is forecast to rise more than 4% per year through 2025, reaching a value of more than $110 billion, according to Grand View Research.
The US hardware and fastener manufacturing industry includes about 5,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $38 billion.
Competitive Landscape
Demand is driven by the needs of other industrial companies, and to a lesser extent by consumer spending. The profitability of individual companies depends on technical expertise and efficiency of operations. Large companies have economies of scale in purchasing raw materials. The specialized nature and use of many products allow smaller companies to compete effectively. The US hardware segment is concentrated: the top 50 companies account for 80% of segment revenue. The fastener segment is fragmented: the top 50 companies account for 30% of segment revenue.
Products, Operations & Technology
Major products of fastener manufacturing include precision turned products (about 70% of industry revenue), externally threaded metal fasteners (about ... plus:
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