The fastener is a hardware device which is used to join two or more objects mechanically. Binder fastener system is a tool to bring objects together by sophisticated manner. There are various types of fastener available such as a structural blind fastener, non-structural blind fastener, quick release fastener, and others. Increasing demand form aerospace industry is supplementing overall growth of the market. Additionally, benefits associated with fasteners such as high sustainability, low cost and long life of the product is driving the overall growth of the market. However, High initial investment, maintenance cost, continuously fluctuation in the prices of raw material is limiting the growth of the market. Moreover, manufacturers have been continuously investing in R&D for binder fastener system. Thus, this can create a big opportunity for the market.
- Increasing Demand from Rapidly Growing Aerospace Industry
- High Sustainability, Low Cost and Long Life of the Product Driving the Market
- Increasing Usage of Binder Fastener System Particularly in Automotive and Aerospace Sector.
- Intense Competition among Established Players
- High Initial Investment and Maintenance Cost
The key Manufacturers profiled in the report are 3V Fasteners Company Inc. (United States), Alcoa Fastening Systems (United States), B&B Specialties, Inc. (United States), KLX Inc. (United States), LISI Aerospace S.A.S (France), National Aerospace Fasteners Corporation (Taiwan), Nylok Corporation (United States), Precision Castparts Corp. (United States), Cherry Aerospace (United States) and Stanley Engineered Fastening (United States). Additionally, other players that are part of this comprehensive study are TFI Aerospace Corporation (Canada), TPS Aviation Inc. (United States), TriMas Corporation (United States), Allfast, Inc. (United States), Monogram Aerospace Fasteners (United States) and Wesco Aircraft Holdings, Inc. (United States).