9/28/2009
HEADLINES
Report: Fastener Demand in China To Top $10.8b by 2013

Demand for industrial fasteners in China will growth 10.7% annually to 74.2 billion yuan (US$10.85 billion) by 2013, driven by rapid growth in manufacturing production, especially industrial machinery and motor vehicles, according to a new report by the Freedonia Group.

Increases in electrical and electronic product manufacturing will drive growth, though at a slower pace than the last decade.

“A rise in demand for higher-grade industrial fasteners will also boost overall market value,” according to Fasteners in China, a new study from the Beijing office of The Freedonia Group. “However, the use of new materials and manufacturing methods that reduce the number of fasteners required in the production of a variety of durable goods will restrain sales growth.”

Sales of aerospace-grade fasteners will outpace advances for standard fasteners, rising 13.4% per year through 2013.

“Demand will be spurred by continued government investment in infrastructure, aerospace industries and national defense,” the report states.

During the same period, fastener demand in the U.S. will grow 1.2% per year to $12.5 billion, Freedonia predicts. U.S. aerospace fastener demand is forecasted to increase 1.4% per year to 2013.

Currently, standard fasteners account for 98% of Chinese industrial fastener demand. Externally threaded fasteners are the dominant fastener type, making up for three-fifths of fastener demand in China in 2008.

“They have resisted inroads made by alternative joining methods such as adhesives or welding and will grow at a slightly above average rate,” according to Fasteners in China.

Internally threaded fasteners will increase at a slightly below average pace, while non-threaded fasteners will post the slowest gains at 9.9 percent annually through 2013, hurt by stagnant growth in construction.

New demand for fasteners in OEM and construction markets will outpace MRO markets through 2013.
OEM will remain the largest market in China, accounting for over three-fourths of total fastener demand.

The 181-page report is available for $5,200. For more information contact Corinne Gangloff. Tel: 440 684-9600 Email: pr@freedoniagroup.com ©2009 GlobalFastenerNews.com

Related Links:

• Freedonia Group