Global fastener market demand will rise sharply

Release time:

Mar 12,2020

Recently, the US market research company released a report on the industrial fastener market, saying that the global industrial fastener market demand will reach 104 billion US dollars by 2020, and also specifically mentions the future development of railway fasteners.

　　The report analyzes three types of fastener products: external thread fasteners, aerospace fasteners, and other standard fasteners. And pointed out that in view of the pull of the automotive industry's demand for fasteners, the global fastener market demand will increase significantly in the next 6 years.

　　With the economic growth and industrial development of the United States, China, Brazil, Russia, Poland, and India, the construction industry in these countries will also continue to grow, which will further drive the demand for fasteners. In addition, the growth of consumer markets such as electronics, aerospace, machinery, maintenance, and motor vehicles will also stimulate growth in demand for fasteners. The development of railway fasteners in the future is expected to create a new market path and help improve processing technology and mechanical properties.

　　The market analysis report also shows that in 2013, the thread fastener market accounted for the largest application, accounting for more than 45% of the market share; and automotive oem was the second largest application market, with a market share of more than 20%.