FastenersASIA January 2024

Industry news

Global bolts market to reach $11.44bn by 2030 Research And Markets has added a new report to its library, titled “Bolts market, by type, by grade, by application, and by geography (North America, Europe, Asia Pacific, Latin America) – size, share, outlook, and opportunity analysis, 2023-2030.”

high-performance bolts with enhanced features to maintain competitiveness • Growing environmental awareness, resulting in demand for sustainable and eco-friendly bolts through the use of recycled materials and energy-efficient processes • Customised bolt solutions tailored to specific applications in various industries • Demand for bolts with monitoring capabilities and sensor integration in smart cities and infrastructure projects • The influence of global economic conditions on demand for bolts in construction, manufacturing and other sectors • Additional revenue streams generated by offering after- market support and maintenance services, such as replacement bolts and technical assistance • Strict adherence to safety and quality standards in industries such as aerospace and defence, affecting bolt manufacturing practices and certifications • Changes in global trade dynamics and supply chain dis- ruptions, impacting raw material availability and production efficiency • Opportunities arising from rapid industrialisation and urbanisation in emerging economies for bolt manufacturers to establish a presence in these regions Research and Markets www.researchandmarkets.com

The global bolts market is projected to experience substantial growth, with an expected value of $11.44bn by 2030, up from $8.29bn in 2023, at a compound annual growth rate (CAGR) of 4.7 per cent during the forecast period. The market encompasses the manufacturing, distribution and sale of bolts and fasteners used to securely join components in industries such as construction, automotive, aerospace and infrastructure. It is influenced by economic conditions, industrial growth and technological advancements, resulting in a continuous demand for bolts. Several key factors are expected to drive the growth of the global bolts market: • Ongoing and planned infrastructure projects worldwide, including investments in transportation networks, renewable energy installations, smart cities and commercial buildings • Innovations in bolt manufacturing technologies, such as automation and precision engineering, leading to improved production efficiency and product quality • Technological advancements prompting companies to offer

Auveco expands presence with acquisition of ClipLizard Systems Automotive fastener and body hardware aftermarket specialist Auveco has

the experience for current and future channel partners. The acquisition reflects the commitment of both companies to invest in growth, adding new product lines, technology and resources to better support their customers. Auveco www.auveco.com ClipLizard www.cliplizardsystems.com

The collaboration opens new channels to market for both Auveco and ClipLizard, providing access to a broader product portfolio. The companies expect increased opportunities for new product introductions. Distributors can expect a wider product selection and accelerated innovation to meet the needs of end users. Both companies offer customer service, online tools and technical support to enhance

announced its acquisition of ClipLizard Systems, headquartered in Spencer, Indiana, USA.

ClipLizard distributes

Systems

sources

and

automotive and fasteners to paint, body and equipment (PBE) distributors. Its Materials Manager licensed software solution enhances PBE inventory management. clips

Würth appoints CEO of MRO, safety and metalworking division

Würth MRO, Safety, and Metalworking, a division of Würth Industry North America, has appointed Bastian Rottenberg as chief executive officer. Mr Rottenberg succeeds Eric Wilk, who recently announced his departure from the company. Mr Rottenberg will fulfil his new role while concurrently acting as chief information officer of Würth Industry North America. He previously served as chief operating officer and head of department IT operations and IT support. Larry Stevens, EVP Würth-Line Industry, said, “Bastian will take on this new role with the same dedication and passion that he has consistently demonstrated throughout his time at Würth. I am confident that Bastian will continue to drive our company’s growth and success, building upon the strong foundation.” Würth Industry North America www.wurthindustry.com

Bastian Rottenberg

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January 2024