EuroWire March 2025

Corporate News

Industrial fasteners market worth $104.12bn by 2029

play a large part, being able to tolerate extreme operating temperatures and providing high resistance to corrosion. Asia Pacific accounted for the highest industrial fasteners market share in 2024 owing to high rates of industrialisation and urbanisation, and increased demand in the automotive, construction and manufacturing industries. China, India and Japan are prominent contributors, owing to increased production in the automotive sector and major infrastructure projects. The growth of manufacturing hubs in the region, especially in emerging markets such as Vietnam and Indonesia, further boosts the need for fasteners in machinery and electronics. Government backed projects, such as China’s Belt and Road Initiative, also increase demand. MarketsandMarkets Inc www.marketsandmarkets.com potential of all US Anchors brands,” said Mr Eisenberg. “I have been very impressed with the company’s significant achievements thus far and look forward to building on that momentum through both organic growth and strategic acquisitions.” Ted Garfield, former president and CEO of US Anchors, said, “On behalf of my family, we are excited to partner with Kinderhook. “Since my father’s founding of the original business over 50 years ago, the company has continued to drive success through our dedication to our customers. “We are excited to work with both the Kinderhook team and Jordan Eisenberg to maintain this tradition and take the company to new heights.” Kinderhook Industries, LLC www.kinderhook.com

machine screws, wood screws and self tapping screws, for various materials and specific applications. Screws are also appreciated for the strength of connections that they provide without requiring other supporting parts like nuts or washers. The screw segment is likely to continue leading the industrial fasteners market as the manufacturing process advances and new materials are developed. The automotive segment was the largest market share in 2024. The automotive industry is one of the largest consumers of industrial fasteners because it uses bolts, screws, nuts, washers and rivets extensively in the manufacturing and assembly of vehicles. Increasing automobile demand, particularly in developing economies, has added to the demand for industrial fasteners in this industry. In the move to a sustainable, high-tech automotive industry, advanced fasteners The Wej-It brand manufactures medium- to heavy-duty products that compete in the mechanical anchor, adhesive anchor and screw anchor categories, and the Heckmann brand manufactures and distributes masonry anchors and wall systems direct to contractors. In connection with the transaction, Jordan Eisenberg will be joining the US Anchors leadership team as chief executive officer and will collaborate with the Garfield family to drive the company’s continued success. Mr Eisenberg is a seasoned CEO with a background in the consumer products sector. The Garfield family will retain an ownership stake in the company, and Ted Garfield will join the company’s board of directors. “I am excited to work with Kinderhook as we take US Anchors into its next phase of growth with a focus on maximising the

A new report from MarketsandMarkets Inc reveals that the industrial fasteners market is valued at approximately $90.57bn in 2025, and it is projected to reach $104.12bn by 2029 at a CAGR of 3.5 per cent. The report defines industrial fasteners as mechanical elements used to ensure the joining of objects in manufacturing, construction and engineering, in the form of bolts, screws, nuts, washers, rivets and anchors. In 2024, the industrial fasteners market had the highest share in terms of screws. Owing to their ease of use and flexibility, screws are widely applied in various sectors to ensure a secure, adjustable and removable connection in applications such as automotive assembly, construction, machinery and electronics. The screw section has been able to dominate because of the extensive varieties of screws available, including Kinderhook has announced the acquisition of US Anchors, in partnership with Ted and David Garfield. US Anchors represents Kinderhook’s 31 st light manufacturing/ automotive platform investment since inception. Financial terms of the transaction were not disclosed. US Anchors, founded in 1968 by the Garfield family and headquartered in Norwalk, Connecticut, USA, is the parent company for the Toggler®, Wej-It® and Heckmann® brands of construction anchors, fasteners and other building products, as well its distribution arm, Gotham Building Supplies. US Anchors is said to be one of the only American anchor manufacturers that produces most of its anchors and custom products domestically. Toggler is a consumer-facing brand that specialises in manufacturing light- to medium-duty fasteners and hollow wall solutions. Industries, LLC

Kinderhook partners with Garfield family on fastening and anchoring solutions platform

62

www.read-eurofasteners.com

March 2025