Research Report on supply and demand and development prospect of fastener market in China

According to the forecast of grand view research, the global fastener market demand will rise greatly in the next few years. By 2020, the global industrial fastener market demand will reach 104 billion US dollars, among which the Asia Pacific region will still be the largest regional market. The basic parts represented by fasteners are not only the basic industry of China's equipment manufacturing industry, but also the important foundation of various fields of national economic construction. In 2015, China's fastener production reached 7.3 million tons, 1.59 times that of 2006.

At present, China has become a major fastener manufacturing country, and the fastener output has ranked first in the world for many years. However, the majority of fastener products in China are medium and low-end ones, and some high-precision, high-strength and high-value-added fasteners still need to be imported.

According to the statistics of China Machinery General Parts Industry Association, the export volume of fasteners in China increased from 2070900 tons in 2006 to 2740100 tons in 2015, the export amount increased from 2358 million dollars in 2006 to 5121 million dollars in 2015, the import quantity of fasteners increased from 159400 tons in 2006 to 287200 tons in 2015, and the import amount increased from 1471 million dollars in 2006 to 30 million tons 52 million US dollars. Although China's fastener import and export scale continues to grow, the strong contrast between the import and export unit price still exists. The reason for this phenomenon is that the fastener industry presents the current situation of "overcapacity of medium and low-end products and insufficient supply capacity of high-end products" in the industrial structure of the fastener industry. Therefore, China's fastener manufacturing enterprises need to upgrade their industries. With the continuous growth of fastener industry scale and industrial upgrading, fastener equipment manufacturing enterprises including cold heading forming equipment have broad market and development space.