Freedonia Projects U.S. Fastener Sales To Reach $12.2 Billion by 2005

John Wolz

The demand for industrial fasteners will grow 4% per year through 2005, when the U.S. fastener market will reach $12.2 billion, according to an updated report by the Freedonia Group Inc.\
�The principal factor restricting gains will be sluggishness in most OEM markets as macroeconomic fundamentals turn less favorable,� the Freedonia Group suggested. �The key automotive, industrial machinery, fabricated metals and construction fastener markets appear especially vulnerable to a slowdown, although electronic and aerospace equipment will provide some offsetting support, and aftermarket-related demand is expected to hold up relatively well in most segments.�
Shipments from U.S. facilities will rise 4% per year through 2005 to $11.2 billion, Freedonia predicted in its Industrial Fasteners report.
Fastener suppliers will face competition from adhesives, welding and alternative joining techniques �but will respond with a spate of technological innovations in their own right, including the development of advanced fasteners made from plastics, composites, stainless steel and other materials.�
Cleveland, OH-based Freedonia noted recent advances in self-locking, self-clinching, self-piercing, sealing and blind fasteners �represent enhancements upon basic fastener performance, and have helped to raise the competitive profile of fasteners relative to alternative joining and bonding techniques.�
Domestic fastener suppliers will target specialty and other segments and work with customers to develop systems-based assembly solutions, Freedonia predicted. Imports of low-cost, commodity fasteners into the U.S. will continue to rise.
�Offshore suppliers have for several years been attempting to upgrade the performance and safety of their products in anticipation of formal implementation of the U.S. Fastener Quality Act. As a result, foreign-made fasteners are becoming increasingly competitive with domestic designs in both price and quality, although U.S. suppliers continue to lead in aerospace-grade and other higher-end and specialty fasteners.�
The 233-page report released in March 2001 is priced at $3,700. For information: Tel: 440 684-9600. Fax 440 646-0484. freedoniagroup.com
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