11/3/2010 12:01:00 AM
NEWS BRIEFS
Reports Vary Widely On Forecast For Fastener Industry

Two recent research reports forecasting industrial fastener demand in the coming years agreed that the global fastener market would increase. But the numbers they predicted for the overall worth of the global fastener market diverged significantly.

Based on its research, the Freedonia Group predicts world demand for industrial fasteners will expand 8.5% per year to $80.5 billion in 2014. Those findings were published in World Industrial Fasteners, a new 401-page, $6,100 report by Freedonia.

However, Global Industry Analysts pegs the value of the industrial fastener market at $55 billion by 2015. Industrial Fasteners: A Global Strategic Business Report, the firm’s new 530-page report, costs $4,500.

Both research groups concluded that China’s demand for fasteners would lead the way, making the Asian country one of the top-three fastener consumers within the next couple of years. But the rate of growth varied widely.

Freedonia predicted the Asia/Pacific region will register the strongest sales increases through 2014, paced by healthy 12.8% annual demand gains in China.

Global Industry Analysts concluded Asia-Pacific would grow at a rate of more than 6.0% through 2015.

 

Consensus was reached on the drivers for increased industrial fastener  demand. Growing motor vehicle output and higher demand for durable goods will foster the most growth, with construction fastener and aerospace demand seen as secondary influences.  ©2010 GlobalFastenerNews.com

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