Product Code: ETC377904 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India self-drilling screws market import shipment demonstrated a robust expansion from 2020 to 2024, with a notable CAGR of 31.9%. The growth momentum was sustained as evidenced by a solid growth rate of 21.5% between 2023 and 2024, indicating a continuously expanding market trend.
The India self drilling screws market size was valued at USD 952 million and is estimated to expand at a CAGR of 8.3% owing to an increase in construction activities across residential, commercial & industrial sectors coupled with rising awareness regarding design benefits associated with self-drilling screws such as fast installation time and reduced labor cost among others due its unique design features that eliminates pre-drilling efforts prior installation process thus reducing production cost drastically will foster product penetration during future years. Moreover, growing adoption of energy efficient solutions fused together technological advancements integrated into this segment will further accelerate its expansion throughout forecast timeframe .
In the construction and manufacturing industries, the self-drilling screws market has flourished due to their time-saving and cost-effective features. These screws eliminate the need for pre-drilling holes and reduce labor costs, making them increasingly popular in various sectors.
The India self-drilling screws market faces specific challenges as it caters to various industries, including construction and manufacturing. One significant challenge is ensuring the compatibility and effectiveness of self-drilling screws with different types of materials, as using the wrong screws can result in structural failures.Additionally, educating end-users about the benefits and proper application of self-drilling screws is essential to drive their adoption and counter the competition from traditional screws and fastening methods. Manufacturers also need to address concerns related to the environmental impact of fasteners and develop eco-friendly alternatives.
The India self-drilling screws market faced challenges due to the COVID-19 pandemic. The slowdown in construction and manufacturing activities impacted demand negatively. However, with the relaxation of restrictions and the resumption of projects, demand started to improve. The construction of affordable housing and infrastructure development initiatives contributed to the market`s recovery.
Key Players in the India Self-Drilling Screws Market consist of well-known companies like ITW Construction Products, Simpson Strong-Tie, Stanley Black & Decker, Bossard Group, and Atotech India Ltd.