China is the world’s largest producer of fasteners. In recent years, the domestic fastener output has shown a fluctuating growth trend. According to the Report on the Development Trend and Development Prospect of China’s Fastener Industry (2022-2026) released by Sinsejie Industry Research Center, the output of metal fasteners in China has increased from 6.785 million tons in 2017 to 793 million tons in 2021. 10,000 tons, a compound annual growth rate of 3.17%. Fasteners are closely related to the development of machinery, equipment, transportation, construction and other equipment industries, benefiting from the intelligent upgrading of industrial manufacturing and the continuous emergence of emerging industries such as wind power, photovoltaic, and new energy. The domestic fastener market demand is constantly increasing. In 2021, the domestic fastener market size was 145.87 billion yuan.
The upstream fastener industry chain is steel, non-ferrous metals, composite materials and other raw material suppliers; Downstream for automobile, railway, machinery, electronic appliances, aerospace and other applications. At present, China has become the world’s largest consumer market for automobiles and household appliances. The huge application market demand of the downstream industry chain is the main driving force for the continuous development of fastener industry.
The continuous optimization of product structure is one of the mainstream trends of the future fastener industry. At present, the continuous development of high-end equipment manufacturing industries such as aerospace, satellite navigation and new energy vehicles drives the increasing market demand for high-performance, high-strength and high-value-added fasteners. In the future, domestic fastener enterprises need to continuously accumulate technology and update equipment, so as to continuously improve product quality and optimize product performance, and promote the continuous increase in the output of high-end fasteners such as precision screws, self-locking fasteners, titanium alloy fasteners, and auto special fasteners in the domestic IT industry.
Industry analysts said the industry clustering is another trend in the development of future domestic fastener industry, the domestic fastener industry through the development in recent years, has formed a number of industry cluster area, such as 2020 116 fastener enterprises engaged in production and supporting services from big cities in the bay area to the guangdong yangjiang industrial park, super billions of high quality fasteners industry cluster is accelerating Rise; In 2021, Wenzhou Zhushang Smart Port Industrial Park was completed and positioned as the fastener digital industrial cluster center in southern Zhejiang and northern Fujian. The development of fastener industry cluster plays an important role in optimizing the allocation of industrial chain resources, optimizing the product structure and improving the production technology. The industry will develop rapidly in the future under this trend.
Post time: Nov-08-2022