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.
Overview of China's fastener industry: after more than 40 years of reform and opening up, China's fastener industry has completed the transformation from small to large. Its output ranks first in the world. It is a real large producer and exporter. As the most basic and general mechanical basic parts, the fastener industry plays an important role in the new strategic emerging industries of the country, and has broad market demand and good development prospects. Most fastener enterprises have low degree of automation, backward technical equipment, poor product quality, low quality grade and small enterprise scale. Some high-end fasteners in China (mainly key fasteners for high-speed locomotive, aviation, aerospace and aircraft manufacturing) still need to be imported. The main reasons for not being self-sufficient are poor material stability, and there is a large gap between manufacturing technology and management technology and the requirement of zero defect of products. Domestic fastener low-end products have serious overcapacity, and the supply of high-end products is insufficient, so the adjustment of industrial structure is imminent. Today, China's economic development has entered a new normal, and the growth rate of fasteners will change from high speed to medium speed; The development mode has changed from extensive scale and speed to intensive quality and efficiency growth; Structural adjustment has shifted from incremental capacity expansion to in-depth adjustment of stock and increment; The driving force of development has shifted from traditional growth point to innovative growth point. The new normal will bring new development opportunities to China's fasteners. In recent years, China's fastener industry has maintained rapid development, and the output, sales volume and degree of nationalization have been continuously improved. Fasteners are widely used in various fields such as machinery, equipment, vehicles, ships, railways, bridges, buildings, structures, tools and instruments, which are closely related to the development of equipment manufacturing industry. With the stable development of China's economy, the continuous improvement of the demand of fastener downstream industries and the strong support of national policies, the scale of fastener market will continue to rise.
