Freedonia: US Fastener Demand May Reach $11.5b by 2007

Jason Sandefur

Domestic demand for industrial fasteners will increase 5.6% each year through 2007 to $11.5 billion, according to Industrial Fasteners, a new 208-page, $3,900 study by the Freedonia Group Inc.
�Sales of higher performance specialty product types, which include most application specific standard fasteners and aerospace grade fasteners, will register the strongest gains,� Industrial Fasteners states.
Demand for specialty fasteners will outpace other categories, while aerospace fastener sales should gain from increased aircraft production, Freedonia predicts, making up 15% of the market. Revenue from plastic fasteners should reach $1 billion by 2007, benefitting from improved plastics.
The new figures revise Freedonia�s 2001 prediction that US fastener demand would reach $12.2 billion by 2005, an estimate that was likely impacted by global market fluctuations following the Sept. 11, 2001, attacks.
Future demand will be fueled by increased construction and durable goods production as economic conditions improve, Freedonia forecasts, as economic growth boosts aftermarket fastener demand, most notably in the electrical and electronic equipment manufacturing.
E-mail: pr@freedoniagroup.com Web: freedoniagroup.com �2003 FastenerNews.com