Based on material, the metal segment held the highest market share in 2020, accounting for 94% of the global bolts market, and is estimated to maintain its leadership status throughout the forecast period. Metal bolts are extensively used in construction & automotive industry, owing to its high shear & tensile strength, which in turn, is acting as a driving factor for the segment. Moreover, the plastic segment is projected to manifest the highest CAGR of 7.5% from 2021 to 2030. Plastic bolts have properties such as resistance to corrosion, UV rays, and high electrical & thermal insulating properties. Furthermore, plastic bolts are light weight and can be dyed to meet specific aesthetic requirements.  These factors are boosting the growth of the segment.Get detailed COVID-19 impact analysis on the Bolts Market.The automotive segment to maintain its lead position during the forecast period

       Based on end user, the automotive segment accounted for the largest share in 2020, contributing to more than one-third of the global bolts market, and is projected to maintain its lead position during the forecast period. This is because rise in global population has significantly increased the demand for private and public vehicles for transportation purposes. However, the industrial machinery segment is expected to portray the largest CAGR of 7.6% from 2021 to 2030. The use of products such as cosmetics, processed food & beverages, medicines, clothing and home appliances has significantly increased in the past few years owing to rising global population.