| SIC Codes: | 3451 3452 |
| NAICS Codes: | 332721 332722 |
The US hardware and fastener manufacturing industry includes about 4,500 companies with combined annual revenue of about $30 billion. Major companies include Illinois Tool Works, Precision Castparts, Simpson Manufacturing, and MNP Corporation. The hardware segment is concentrated: the top 50 companies account for more than 75 percent of segment revenue. The fastener segment is fragmented: the top 50 companies account for 30 percent of segment revenue.
Demand is driven by the needs of other industrial companies, and to a lesser extent by consumer spending. The profitability of individual companies depends on technical expertise and efficiency of operations. Large companies have economies of scale in purchasing raw materials. The specialized nature and use of many products allows smaller companies to compete effectively.
Major hardware products include metal hinges, handles, and brackets; casters; key blanks; and locks (except coin-operated or time-locks). Specific fastener products include ferrous and non-ferrous bolts, nuts, screws, washers, rivets, nails, staples, tacks, cotter and dowel pins, hose clamps, hooks and latches, toggle bolts, and turnbuckles. Fasteners account for 75 percent of industry revenue, hardware 25 percent.