The fastener industry under both challenges and opportunities

The decline in economic data of automobile, traditional energy and chemical industry, agricultural machinery, household appliances and electrical machinery in 2019 has affected our fastener industry to some extent. In particular, some industries experienced a decline rate of nearly 30% in the first half of the year.

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. For expanding your business in China, International Fastener Show China shall be a golden opportunity.

A pursue green development with less energy consumption but higher product quality

In 2019, the impact of trade friction between China and the United States continued to worsen, the order situation was not very optimistic, the product inventory became the main burden of enterprises, and the capital risk gradually enlarged. Under such adverse circumstances, the industrial upgrading of manufacturing industry was "forced" to speed up, and some fastener enterprises were also "forced" to accelerate the transformation and upgrading to capture the new market positioning. 

However, the state took the opportunity of the transformation to carry out environmental protection rectification, and made vigorous efforts to clean up the environment, eliminating some enterprises with high pollution, high consumption and backward production capacity.

A number of business people said that the agreement on the first phase of the economic and trade agreement between China and the us sends a positive signal to the outside world, which is conducive to promoting china-us economic and trade cooperation.

However, the economic and trade relations between China and the United States are complex, fastener companies should still face the long-term trade friction and difficult! We still need to strive to construct the core competitive advantage and strive for an invincible position in the intricate trade friction! Join us on June 22-24, 2020 in Shanghai World Expo Exhibition & Convention Center to seek for new opportunities.