Micro Screws Market Report Overview
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The global micro screws market size was USD 964.8 million in 2021 and is expected to reach USD 1273.5 million in 2028, exhibiting a CAGR of 4.0% during the forecast period.
The rise in CAGR is attributable to the micro screws market growth and demand returning to pre-pandemic levels once the pandemic is over. The global COVID-19 pandemic has been unprecedented and staggering, with micro screws experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. A micro screw is a small, high-quality metal fastener with a diameter that ranges from 0.5 to 2.5 millimeters (M 0.5 to M 2.5). It is used extensively in a variety of fields, including automotive, consumer electronics, electrical, mechanical, medical, industrial, and more. Due to unique thread geometries that are tailored to the specific material, micro screws are appropriate for a variety of materials. They are specifically made to be fastened into steel, light metal, and plastic. They are also a good alternative to soldering, gluing, clipping, or welding because of their metric compatibility for later repairs.
Micro screws are highly sought after as manufacturers of micro screws market work to create smaller, lighter, and thinner consumer electronics. Micro screws are mostly used for tiny electronics. Micro screws work effectively in applications for fastener installation and positionings, such as those found in mobile phones and tablet computers. This product is employed both in the residential and industrial sectors with the goal of binding diverse objects together. With the large selection of micro fasteners, Micro screws are available in various designs and materials. Machine screws, captive screws, shoulder bolts, set screws, high-strength screws, metal forming screws, and more are among the consumer electronics products in our product line.
COVID-19 Impact: Halt on Manufacturing Operations Led to Slower Market Growth
The Covid-19 pandemic affected practically every industry worldwide. The World Health Organization (WHO) guidelines and regulatory regulations have temporarily halted the operation of the manufacturing facilities. Additionally, the protracted shutdown disrupted the supply chain and raised the price of raw materials across several nations. The demand for products in 2020 was impacted by the suspension of industrial operations to stop COVID-19 from spreading over the world. Additionally, the impact on industrial machinery service and maintenance operations hampered the market for the product in 2020. Such elements impacted the world’s micro screws market growth.
LATEST TRENDS
"Technological Advancements in Electronics to Boost Market Growth"
Smaller and more compact semiconductor-based, electrical, and optical devices are becoming more common due to technological advancements. Using smaller individual components with the gadgets is also encouraged by this trend. Because there are now so few "low profile screws" and "miniature screws" with a head height of 2 mm or less on the market, which is utilized in these components, the development of lower-profile and more compact semiconductor-based, electrical, and optical devices frequently encounters barriers. The aforementioned factors have a positive impact on the micro screws market growth.
Micro Screws Market Segmentation
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- By Type Analysis
As per the type, the market is classified as follows: M2.5-M2.0 and M1.9-M1.0. M1.9-M1.0 accounted for a significant share of the worldwide micro screws market in 2020, with a share of 64.06 percent.
- By Application Analysis
Based on application, the market is segmented as follows: Consumer Electronics, Medical Instruments, Precision Instrument, Automotive Electronic, and Others. Consumer Electronics is a significant application in the Micro Screws market share, accounting for roughly 62.06 percent of the micro screws market in 2020.
DRIVING FACTORS
"Cost-Saving Potential to Facilitate Market Development"
Since extra production procedures, like thread cutting, which is particularly challenging for smaller screw dimensions, can be entirely skipped, the thread-forming design of the micro screw also enables the full exploitation of significant cost-saving potentials. When employing our micro screws, the severe tool wear and tear that occurs during thread cutting for metric screw joints is likewise a thing of the past. Because of this, utilizing micro screws is certain to be highly cost-effective. As a result of the seamless interaction of the component, screw, and fastening systems becoming even more crucial with a high degree of miniaturization, significant cost savings can be achieved during the development phase. Starting with the initial stages of development, extra attention must be paid to feeding and final assembly. The ideal fastening system can be developed in collaboration with the client which drives micro screws market expansions.
"Long Lasting Capacity to Promote Industry Progress"
Micro fasteners and micro screws are crucial for the consumer electronics industry, regardless of the individual device being made. High-quality manufacturing inputs, even down to the last screw, are necessary to produce high-quality consumer electronics. Fastener selections at micro screws reflect the wide range of small screws used in consumer electronics, which all have particular requirements. Customers demand long-lasting micro fasteners and screws when constructing consumer devices. The task is completed with the use of premium materials and a variety of material options. the usual materials, such as titanium, alloy steel, stainless steel, and hardened carbon steel. It is anticipated that, throughout the forecast period, the aforementioned factors would witness micro screw market growth.
RESTRAINING FACTORS
"Drawbacks in Medical Industry to Hinder Market Growth"
In more aesthetic and comfortable techniques without brackets, as well as in vestibular and lingual techniques with brackets, the use of micro-screws in orthodontic anchorage is increasing. As improper manipulation of the bone can readily result in an inflammatory reaction surrounding the screws and inappropriate location can easily result in their loosening, micro-screw insertion should be regarded as a surgical procedure. These drawbacks in the medical industry threaten to hinder the micro screws market share.
Micro Screws Market Regional Insights
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"Demand in Automotive to Propel Market Progress in Asia"
According to estimates, the micro screws market is dominated by Asia. The demand for automotive is being supported by developing nations like China and India, which are also important drivers of the micro screws market. Additionally, automation and technological advancement are fueling demand for the worldwide micro screws market. Rapid industrial expansion and rise in manufacturing activity will present robust opportunities for the producers of micro screws. Various international players are expected to eye expansion into the fast-booming market in the Asia Pacific.
KEY MARKET PLAYERS
"Market Players Focus on New Product Launches to Strengthen Market Position"
Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically-advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.
List of Market Players Profiled
- Matsumoto Industry (Japan)
- EJOT (Germany)
- J.I. Morris (U.S.)
- MIZUKI (U.S.)
- Shi Shi Tong Metal Products (China)
- Tokai Buhin Kogyo (Japan)
- Nitto Seiko (Japan)
- STANLEY Engineered Fastening (U.S.)
- Nabeya Bi-tech Kaisha (Japan)
- Penn Engineering (U.S.)
- SAIDA Manufacturing (Japan)
- PSM International (China)
- Unisteel (Singapore)
- Chu Wu Industrial (Taiwan)
- Sanei (Taiwan)
REPORT COVERAGE
The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.
| REPORT COVERAGE | DETAILS |
|---|---|
| Market Size Value In | US$ 964.8 Million in 2021 |
| Market Size Value By | US$ 1273.5 Million by 2028 |
| Growth Rate | CAGR of 4% from 2021 to 2028 |
| Forecast Period | 2022-2028 |
| Base Year | 2021 |
| Historical Data Available | Yes |
| Segments Covered | Type & Application |
| Regional Scope | Global |
Frequently Asked Questions
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What value is the micro screws market expected to touch by 2028?
Based on our research, the micro screws market is projected to touch USD 1273.5 million by 2028.
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What CAGR is the micro screws market expected to exhibit by 2028?
The micro screws market is expected to exhibit a CAGR of 4.0% by 2028.
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Which are the driving factors of the micro screws market?
The cost-saving potential and long-lasting capacity are the driving factors of the micro screws market.
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Which are the top companies operating in the micro screws market?
Matsumoto Industry, EJOT, J.I. Morris, MIZUKI, Shi Shi Tong Metal Products, Tokai Buhin Kogyo, Nitto Seiko, STANLEY Engineered Fastening, Nabeya Bi-tech Kaisha, Penn Engineering, SAIDA Manufacturing, PSM International, Unisteel, Chu Wu Industrial, and Sanei are the top companies operating in the micro screws market.
