Development prospect forecast and demand scale analysis of the whole industry chain of global and Chinese fastener industry market in 2021

Development prospect forecast and demand scale analysis of the whole industry chain of global and Chinese fastener industry market in 2021

Fasteners are the most widely used basic parts in industry, known as "the rice of industry". Fasteners are characterized by a wide variety of specifications, different performance and uses, a high degree of standardization, serialization and generalization, and a wide range of application fields, involving many departments of the national economy. They are widely used in various machinery, equipment, vehicles, ships, railways, bridges, buildings, structures, tools, instruments, chemicals, instruments and other products. The prosperity of the above main application industries is high, and the demand for fasteners is large, which will further stimulate the expansion of the production capacity of fastener enterprises. The technical progress and industrial upgrading of the main application industries and the further improvement of the requirements for the performance and quality of fasteners will promote the technical progress of the fastener industry and the improvement of the quality of fastener products; The development of new application fields will expand the market demand of fasteners and promote the diversification of fastener products. In recent years, China's fastener industry has basically maintained steady and gentle growth. On the whole, affected by the slowdown of global economic growth and the increasing downward pressure on the domestic economy, the growth of downstream demand for fasteners has slowed down, especially the serious overcapacity of low-end products of domestic fasteners, but the supply of high-end products is insufficient, The fastener industry has shifted from high-speed growth to high-quality growth.

(1) Industry definition and classification: fasteners are the general name of a kind of mechanical parts used when two or more parts (or components) are fastened and connected into a whole, mainly including 12 categories: bolts, studs, Screws, Nuts, Self Tapping Screws, wood screws, retaining rings, Washers, pins, Rivets, assemblies and connecting pairs, welding screws, etc, It is a kind of mechanical parts used for fastening connection and widely used.

(2) Overview of global fastener industry: Fastener demand is mainly driven by commodity price fluctuations, including coal, copper and iron ore prices, product life cycle, competitive pressure and other economic factors affecting the construction and equipment industry. In 2018, the global industrial fastener market is estimated to be US $83.34 billion. Thanks to the great improvement of living standards, which stimulates the demand for durable goods, the global industrial fastener market is expected to grow at a high speed. In the forecast period 2019-2025, it is expected to grow at a compound annual growth rate of 4.1%, and the global industrial fastener market will reach 110.24 billion US dollars by 2025. The trend of fastener manufacturing industry is developing towards the production of innovative products (such as special, micro and hybrid fasteners) to adapt to the changing consumer demand, which indicates the continuous growth of the market in the future.

Analysis on current situation of global industrial fastener market scale from 2018 to 2025

C

From the proportion of global industrial fastener applications in 2018, the automotive industry is the main application market of the fastener industry, followed by industrial machinery and aerospace. In addition, the demand for products of industrial machinery such as construction and mining is expected to grow at a CAGR of 4.4% in the forecast period, and the demand for products of lawn and horticultural equipment is expected to grow at a CAGR of 3.2%. The demand for downstream applications is on the rise, which is conducive to the stable development of the fastener industry.