The North America Structural Wood Screws Market size was valued at $588.19 million in 2020 and is projected to reach $1,002.21 million by 2032, registering a CAGR of 4.4% from 2023 to 2032. Structural wood screws are robust and heavy-duty screws extensively employed in timber related construction activities. Characterized by their elongated design and manufactured from high-strength steel, these screws boast a specialized thread configuration, which not only enhances their holding power but also significantly reduces the potential for slippage. Structural wood screws find frequent application in securing essential structural components such as beams, joists, and other framing and non-framing elements in construction projects.
“The North America structural wood screws market was severely hampered during the lockdown period owing to the outbreak of COVID-19. The construction and infrastructure sector were most affected. However, the market recovered by the end of 2022. Contrarily, the decline in construction activities in North America due to inflation is restricting the market growth.”
Market Dynamics
The structural wood screws market is gaining significant traction in North America owing to rising construction utilizing timber. Wood or timber stands out as a leading material in the construction landscape, particularly well-suited for low-rise structures, detached residences, semi-detached homes, and various small-scale housing projects. Its advantageous characteristics, such as relatively lower weight and higher tensile strength than steel and other metals, makes wood a favoured choice. Beyond its structural attributes, wood contributes significantly to the aesthetic appeal of a structure, enhancing the overall visual appeal.
Moreover, the high porosity of wood is beneficial for the construction of homes and commercial establishments. Wood proves to be an energy-efficient choice for building materials as a poor conductor of heat. This quality aids in maintaining optimal indoor temperatures and contributes to sustainable development. In addition, the porosity of wood provides it with good acoustic insulation capabilities, minimizing echoes within living or office spaces and creating acoustically pleasant environments.
The demand for wood in the construction sector, particularly in the U.S. is substantially higher. Approximately one-third of lumber in the U.S. finds application in construction, indicating its wide-scale popularity in the country. Forecasts from the USDA Forest Service indicate a potential surge in demand if the U.S. GDP continues to surpass 2.0%. This demand is primarily driven by the construction sector, indicating the significance of wood in building projects.
Furthermore, developments in building codes have a greater positive impact on the construction sector. In January 2019, the International Code Council (ICC) approved proposals to allow specific tall timber buildings in the 2021 International Building Code (IBC). These modifications, permitting the construction of up to 18 stories, mark a significant shift in the regulatory framework. The inclusion of provisions for mass timber products, especially Cross-Laminated Timber (CLT), is expected to major positive impact in the surge of demand for these innovative construction materials.
There has been a rise in demand for structural wood screws with the increase in demand for timber construction. These heavy-duty screws play a critical role in securing structural elements such as beams and joists. The interdependent relationship between the surge in wood construction and the demand for structural wood is a major driving factor for the market.
Furthermore, the governments in North American countries have set up various policies targeting the reduction of carbon emissions from their industrial sector. On average, Industrial sectors including the construction sector are the major sources of pollutants released into air, water, and land. It is estimated that building and construction accounts for more than 38% of greenhouse gas emissions (GHG) released into the environment. Thus, to reduce the carbon emissions from the construction industry, governments in their respective countries have established policies to promote construction involving timber; thereby, providing opportunities to the key players in the North America structural wood screws market growth.
The North America structural wood screws market has witnessed various obstructions in its regular operations due to the COVID-19 pandemic and inflation. Earlier, the global lockdowns resulted in reduced industrial activities, eventually leading to reduced demand for structural wood screws from the construction sector. However, COVID-19 has subsided, and the major manufacturers in 2023 have been performing well. Contrarily, the rise in global inflation is a new major obstructing factor for the entire industry. The inflation, which is a direct result of the Ukraine-Russia war and few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for construction which is a major end-user sector of structural wood screws. In addition, inflation is expected to worsen in the coming years, as the possibility of the ending of the war between Ukraine and Russia is less. However, a peace agreement between Ukraine and Russia can be devised, with the continued talks between different countries, which is expected to end the war between them and reduce global inflation.
Segmental Overview
The North America structural wood screws market is segmented on the basis of type, application, business type, and region. On the basis of type, the market is bifurcated into carbon steel and stainless steel. On the basis of application, it is categorized into roofing, walls, internal flooring, decking, framing, and others. On the basis of business type, the market is bifurcated into in store and online. On the basis of region, it is analyzed across North America, which include the U.S., Canada, and Mexico.
By Type:
The structural wood screws market is divided into carbon steel, and stainless steel. In 2020, the stainless steel segment dominated the North America structural wood screws market share, in terms of revenue, and the same segment is expected to dominate the market forecast by growing with a higher CAGR. The stainless steel structural wood screws are widely used owing to a greater balance of stainless steel between hardness and mailability. Stainless steel structural wood screws, known for their corrosion resistance; thus, find suitability in regions with high humidity levels, as they do not rust. Moreover, a considerable demand for carbon steel structural wood screws can also be seen in North America. Carbon steel structural wood screws are mainly used in construction and woodworking application owing to their high strength and durability. Carbon steel is harder than stainless steel; however, it makes it more brittle under high tension, making it suitable for light applications such as doors and windows, interior designing, and other such applications. Moreover, carbon steel is vulnerable to corrosion, thus carbon steel screws are typically coated with zinc or other protective material to prevent corrosion. In addition to this, carbon steel structural wood screws are cheaper than stainless steel structural wood screws. Such factors play an important role in driving the growth of the segment.
By Type
The Stainless Steel segment is projected to grow at a significant CAGR during the forecast period.
By Application:
The structural wood screws market is classified into construction, furniture and craft, and others. The framing segment accounted for a larger structural wood screws market share in terms of revenue in 2020. Moreover, the decking segment is anticipated to grow with a higher CAGR during the forecast period. Wood framing serves as the backbone of house construction. Framing is a mix of creativity and science of structural integrity to ensure a good-looking housing unit that is strong and sturdy. Structural wood screws for framing are made with high-strength materials necessary for the durability of the frame under the excessive loads of entire housing unit. Structural wood screws used in framing are available in various lengths and diameters to accommodate different framing requirements. The selection of the appropriate size is essential for achieving secure connections. Major key players such as OMG Inc. and CAMO offer a wide range of structural screws for framing applications. Such factors have a positive impact on market growth.
By Business Channel:
The structural wood screws market is categorized into in store and online. Among these, the in store segment accounted for a larger structural wood screws market share in terms of revenue in 2020. Moreover, the online segment is anticipated to grow with a higher CAGR during the forecast period. Buyers have the advantage of inspecting the goods firsthand, ensuring high quality of the products when purchasing items such as structural wood screws from a physical store. In addition, there is no waiting time between placing an order and receiving it, making the entire transaction very swift.
These factors contribute significantly to the growth of the in store segment. On the other hand, online shopping provides buyers with a vast array of choices that might be challenging to gather in a physical store. Many industrial, non-industrial, and consumer products including structural wood screws are available via online mode with the increase in penetration of the internet. The main benefit of buying structural wood screws via online mode is the availability of a large variety of screws. In addition, demand for large consignments can also be placed which is not possible to buy from an offline store with a limited inventory. Manufacturers such as Fastenmaster, SFS Group USA, Inc. and others offer a wide range of structural wood screws via online stores.
By Business Channel
The In Store segment is expected to hold a majority share of the market throughout the study period
By Region:
The structural wood screws market is analyzed across North America. In 2020, the U.S. had the highest structural wood screws market share; however, the Asia-Pacific region is anticipated to grow with the highest CAGR during the forecast period. The higher market share of the U.S. is attributed to various factors such as high disposable income of people, high urbanization, and immigration. In addition to this, governments in North America initiated different policies that encourage the use of wood in construction; thereby, driving the North America structural wood screws market Opportunities. Furthermore, the high population growth rate of Mexico and its high economic growth potential is anticipated to drive demand for construction including wood-based construction. In addition, builders have also utilized wood in construction to achieve the sustainable goals set out by the governments. Such factors are expected to drive growth of the structural wood screws market.
By Country
The U.S. is expected to hold a majority share of the market throughout the study period
Competition Analysis
Competitive analysis and profiles of the major players in the structural wood screws, such as Simpson Manufacturing Co., Inc. (Simpson Strong-Tie Company, Inc.), Screw Products, Inc., Fischer Group, Steel Partners Holdings L.P. (OMG, Inc.), Illinois Tool Works Inc. (GRK Fasteners), Trifast plc (TR Fastening), Altenloh, Brinck & Co US, Inc., National Nail Corp. (Camo Fasteners), Berkshire Hathaway Inc. (MiTek Industries Inc.), and EJOT Holding GmbH and Co. KG. These key players have adopted various strategies to expand their market foothold. For example, in January 2023, FastenMaster, an unveiled VersaLOK, a robust structural wood screw designed for various interior and exterior wood-to-wood applications, such as angle bracing, retaining walls, and connections for carrying beams. Such factors indicate a positive growth of the market in the region.
Key Benefits for Stakeholders
- The report provides an extensive analysis of the current and emerging North America structural wood screws market trends and dynamics.
- In-depth North America structural wood screws market analysis is conducted by constructing market estimations for key market segments between 2020 and 2032.
- Extensive analysis of the North America structural wood screws market is conducted by following key product positioning and monitoring of top competitors within the market framework.
- A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
- The North America structural wood screws market forecast analysis from 2023 to 2032 is included in the report.
- The key players within the structural wood screws market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the structural wood screws industry.
North America Structural Wood Screws Market Report Highlights
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Analyst Review
The North America structural wood screws market has witnessed significant growth in the past few years owing to a rise in construction activities involving the use of timber.
Wood is widely used in construction as it is recyclable and has no negative impact on environment. Countries in North America have stated their intentions to promote the use of wood in construction to achieve its target of reducing its carbon footprint. For example, The Junction Development Catalyst project introduced in May 2022 by the U.S. government aims to expand the use of wood products and strengthen emerging wood markets. Moreover, there has been an exceptional rise in popularity of timber. For example, on 19th November 2023, Senator Angus King asked the General Services Administration to integrate mass timber into the procurement process for the construction and renovation of federal buildings.
In addition, wood is considered premium, and its use in residential and commercial buildings enhances the aesthetics of the building. Furthermore, functional benefits of wood such as insulation from external environment and noise also help increase the demand for wood in building construction. Thus, the surge in utilization of wood in construction is anticipated to drive the demand for structural wood screws in the coming years. However, fluctuating cost of raw materials used for manufacturing structural wood screws is expected to have a negative impact on the structural wood screws market growth.
On the other hand, countries across the world have set ambitious targets to become carbon neutral. This is expected to drive the demand for wood in construction; thereby providing lucrative growth opportunities for market growth.
Key factors driving the growth of the structural wood screws market include rise in demand for wood in construction, increase in building renovation and improvement activities, and superiority of structural wood screws.
The latest version of the North America structural wood screws market report can be obtained on demand from the website.
The North America structural wood screws market size was valued at $588.2 million in 2020.
The North America structural wood screws market size is estimated to reach $1,002.2 million by 2032, exhibiting a CAGR of 4.4% from 2023 to 2032.
The forecast period considered for the North America structural wood screws market is 2023 to 2032, wherein, 2022 is the base year, 2023 is the estimated year, and 2032 is the forecast year. The market is also analysed historically between 2020 to 2021.
Framing is the largest market for North America structural wood screws market.
Key companies profiled in the North America structural wood screws market report include Simpson Manufacturing Co., Inc. (Simpson Strong-Tie Company, Inc.), Screw Products, Inc., Fischer Group, Steel Partners Holdings L.P. (OMG, Inc.), Illinois Tool Works Inc. (GRK Fasteners), Trifast plc (TR Fastening), Altenloh, Brinck & Co US, Inc., National Nail Corp. (Camo Fasteners), Berkshire Hathaway Inc. (MiTek Industries Inc.), and EJOT Holding GmbH and Co. KG.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies, and recent developments.
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