A fastener is a connective mechanism that mechanically joins or affixes two or more objects together. A bolt is an externally threaded fastener designed for insertion through holes in assembled parts, and is normally intended to be tightened or released by torqueing a nut. A nut is a type of hardware fastener with a threaded hole. Nuts are almost always used opposite a mating bolt to fasten a stack of parts together. Nuts and Bolts are most commonly used items in the family of industrial fasteners and their demand is fast increasing due to expansion of industries in the country. Bolt is a piece of metal rod whose one end is upset and at the other end threading is done. Nut is device, which rolls on these threads.
The fasteners market is projected to grow from USD 5.49 Billion in 2016 to USD 7.73 Billion by 2021, at a CAGR of 7.08%. Increasing number of automobile industries and continuous demand, technologically advanced fasteners are some of the key factors expected to drive the global automobile fasteners market. The overall fasteners market is estimated at about Rs. 28 bn. While the organised sector (HT fasteners) has a share of 65%, the balance of 35% is shared by unorganised sector and imports. Thus, due to demand it is best to invest in this project.
Few Indian major players are as under
· A V R Fasteners Pvt. Ltd.
· Adinath Forging Pvt. Ltd.
· Agarwal Bolts Ltd.
· Agarwal Fasteners Pvt. Ltd.
· Deepak Fasteners Ltd.
· Dev Fasteners Ltd.