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Increasing Downstream Demand for Thumbscrews to Grow at a CAGR of Over 4%.

Wood screws are specifically designed for connecting wood to wood. Available with flat, pan or oval-heads, wood screw generally has a partially unthreaded shank below the head. The Wood Construction Screws market covers Carbon Steel, Stainless Steel, Brass, etc. The typical players include Wurth Group, SFS Group, Simpson Strong-Tie, HECO-Schrauben, Fischer, SPAX, Grip-Rite, Rothoblaas, etc. Carbon steel is a special type of steel with a higher carbon content than other types of steel. Carbon steel screws are usually stronger than stainless steel screws. Stainless steel is an alloy of low carbon steel and chromium for enhanced corrosion characteristics. Stainless steel is highly corrosion resistant for the price. Because the anti-corrosive properties are inherent to the metal, it will not lose this resistance if scratched during installation or use. Brass is an alloy of primarily copper and zinc. Brass is highly corrosion resistant and electrically conductive. However, its use as a fastener is somewhat limited due to its relative softness.

The number of fastener options for construction projects is overwhelming. Almost everything else in construction is now held together using screws. Screws are generally made from metal more so stainless steel and comprise a head and point at either end attached by a threaded shaft inserted into your construction materials。Wood Construction Screws are regularly used in furniture making including the production of cabinets, chairs, tables, beds; nearly just about any type of furniture. It is designed to be used with other furniture fasteners such as cross dowels, insert nuts or their matching Furniture Connector Caps. In addition to this, Wood Construction Screws are suited for applications that involve plywood, lumber, and other wood materials, or be used to attach door hinges, locks, and other non-wood objects. It is an ideal product for wood-based panels and plastic parts and has been widely used in sheet metal, furniture products, house decoration, wall panels, decks, engineering construction, water conservancy projects, etc. All wood screws have destructive thread to hold the wood. It has a sharp edge, good product hardness, and is easy to screw in. A screw-free part makes it difficult to withdraw after screwing in. this property of wood screws to increase the durability of joined parts is expected to augment the market. In addition, some wood screws have coating in order to prevent corrosion. And if the fastener is supposed to remain exposed after assembly, wood screws are provided with decorative heads and finishes. All this makes them an ideal choice among consumers.

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Wood Screw Market Analysis and Forecast

According to our research, the global Wood Construction Screws market has a total sales value of 1000.76 M USD back in 2015, and increased to 1095.37 M USD in 2019. We made a series of functional calculation and deduced the past 5 year’s data with scientific model. Finally, we made the prediction that the value of Wood Construction Screws markets can be 1184.17 M USD by 2025. The CAGR of Wood Construction Screws is 4.64% from 2020 to 2025. Americas was the largest revenue market with a market share of 35.28% in 2015 and 34.69% in 2020 with a decrease of 0.59%. China ranked the second market with the market share of 30.95% in 2019. Wood Construction Screws companies are mainly from Europe; the industry concentrate rate is very low. The top three companies are Wurth Group, SFS Group and Simpson Strong-Tie with the revenue market share of 6.76%, 4.80% and 4.78% in 2019. The global Wood Construction Screws market is expected to witness a mild growth during the forecast period because of the extensive applications of product and the progress in construction industry. The other factor that is driving the growth of the Wood Construction Screws market is the development of economy. Although sales of Wood Construction Screws brought some opportunities, the study group recommends the new entrants who has not industry chain advantage and accurate positioning of the downstream segments do not enter into the Wood Construction Screws field. What is more, the company in this industry should pay attention to their R&D, keep on launching new product, keep on innovation and improving services, then they may get the competition advantage, and get a bigger market share.

 

Impact of the outbreak on the wood screw market

The forecast is for the global manufacturing industry to be severely affected by the New Crown epidemic, and in the short term, the wood screw industry is not looking good either. "However, the post-epidemic wood screw market is set to witness significant growth, with the global wood screw market expected to reach US$92.6 billion by 2027."

The application of new materials, the rise of Industry 4.0 and the Internet of Things, the expansion of new manufacturing industries and the construction of a new wave of large-scale manufacturing centres in the Asia-Pacific region are the main factors influencing market growth. "The demand for industrial fasteners is greatly driven by the massive growth in global automation, the huge boost in manufacturing and construction in countries such as India and China, local consumption, a conducive regulatory environment and investment climate. Demand from Japan, Korea, Taiwan and China for the establishment of high level semiconductor fabs and electronics assembly plants will fuel the growth of precision and professional grade fasteners. "Wood screws are being used more widely as demand grows in industries such as automotive, aerospace, construction, electronics, machinery and consumer appliances. A high level of innovative products such as special, micro and hybrid fasteners that meet the changing needs of consumers is further contributing to the growth of wood screws. However, the adoption of adhesives and tapes instead of metal fasteners is becoming a trend that is expected to hamper the growth of the wood screw market as the application of bonding and NVH products in industries such as automotive grows." Innovative designs with better performance and vibration resistance will have a positive impact on the market. Currently, stainless steel is the most common material used to manufacture threaded fasteners, with brass, alloy steel and aluminium being increasingly used. The global automotive wood screw market is expected to be worth over USD 34 billion by 2025. With increasing demand for threaded fasteners in construction, industrial machinery, railways, automobiles and motorbikes, among others, the threaded fasteners are expected to grow at a CAGR of over 4% during 2020-2025.

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