The automotive industry is expected to witness enormous growth across the world over the forecast period. This growth is attributed to the increased manufacturing of automobiles since automakers are constantly developing drive-trains and more efficient engines to reduce fuel consumption and are using emission-control technology to produce cleaner automobiles. The global volume of the automotive industry is expected to reach 95 million in 2018 and 97 million in 2019 approximately.

Fluctuating prices of raw materials such as steel, copper, and aluminum have impacted the margins of manufacturers. In 2017, 1.7 billion metric tons globally which accounts to almost half of the steel produced, came from China. Steel prices have been increasing rapidly in China as compared to the global average price over the last few years. The Chinese steel price composite index increased by around 17% over the same time period from January 2017 to January 2018, while the world index increased by 11% for rebar prices. Chinese steel demand accounts for nearly 45% of global demand, and exports accounted for 27% of world steel exports in 2017, which makes China the largest steel exporter in the world. As such, recent developments in Chinese steel prices are likely to have an important effect on the development of global steel prices as a whole. This fluctuation poses a constant threat to the industrial fasteners market throughout the forecast timeline.

The global industrial fasteners market is expected to grow steadily at a CAGR of 2.2% in terms of value over the forecast period due to the growing demand from application industries which include automotive, machinery, and construction. Strong recovery in the automotive and construction segment is projected to sustain the growth in various developed countries. Furthermore, rising demand for lightweight fasteners in the automotive industry and high-value titanium fasteners in the aerospace industry is also projected to drive the market in the coming years.

The industrial fasteners market in Asia Pacific is projected to hold the major share in the global market and is expected to expand at a CAGR of 2.6% in terms of revenue over the forecast period. The growth is attributed to economic developments in China and India which have increased the disposable income of consumers in the region, thus promoting the growth of the automotive industry. 

The global fastener market will increase substantially in the next few years, among which the Asia-pacific region will become the important regional market. The pursuit of a stronger nation for Shanghai fastener expo shall be fulfilling with your participation.