Abstract
Global demand to grow 4.8% yearly through 2012
Global demand for industrial fasteners is projected to increase 4.8 percent
annually to $66 billion in 2012. Fastener demand, which reached $52 billion in
2007, grew nearly 9 percent annually since 2002. Although part of this growth
is inflationary in nature, especially since 2005, real gains in demand have
been fueled by increases in world economic growth, increased fixed investment
activity and greater manufacturing production. Although future market gains
will be somewhat constrained by the use of new materials and manufacturing
methods that reduce the numbers of fasteners required, global gains in motor
vehicle production and greater demand for aerospace grade fasteners required
for aircraft will contribute to growth.
Asia/Pacific, Western Europe are net exporters
Although many countries engage in the production of fasteners, few are net
exporters. For example, the US is a major global supplier of high end fastener
products, but is a net importer of fasteners overall. Countries in the
Asia/Pacific region are the largest net exporters of fasteners to the rest of
the world, followed by Western Europe. Taiwan, Japan and China lead the
Asia/Pacific region and the world in net fastener exports. Germany (whose net
export position matched China' s in 2007), Italy and Switzerland contribute the
most to Western Europe' s position as a net exporter. China will soon overtake
Japan as the world' s second-largest net exporting country, after Taiwan.
Emerging economies to outpace developed world
Growing manufacturing economies and increases in fixed investment among the
world' s emerging economies will bring more rapid growth in fastener demand in
these regions relative to the world' s more mature, industrialized nations.
Consequently, fastener demand growth in the Asia/Pacific, Africa/Mideast,
Eastern Europe and Latin America will outpace demand growth in the US, Japan
and Western Europe. China is expected to show the greatest gains in fastener
demand of any other country, and is expected to become the world' s
secondlargest market for fasteners, after the US, before 2012. Market growth
will also be strong in India, Thailand, Taiwan and Russia. Sales growth will
be stimulated by favorable economic conditions and higher income levels
leading to a rise in manufacturing activity and consumer expenditures for
durable goods. Although countries with emerging economies will be the fastest
growing markets for fasteners, the more developed economies -- such as the US,
Canada, Japan and most of Western Europe -- will remain the most intensive
users of fastening products, reflecting the advanced industrial and
technological nature of their economies.
Motor vehicles still most important end-use sector
Consumption of industrial fasteners by the world' s original equipment
manufacturers (OEMs) represented 84 percent of total global fastener demand,
with maintenance, repair and overhaul (MRO) applications accounting for the
balance. Among OEMs, motor vehicle manufacturers consume the most fasteners,
accounting for 35 percent of global demand in 2007. Electrical & electronic
equipment and industrial machinery are also important OEM markets.
Additionally, demand for aerospace-grade fasteners is expected to grow at a
healthy pace, approaching $5 billion in 2012.
Study coverage
This new Freedonia industry study, World Industrial Fasteners presents
historical demand data (1997, 2002 and 2007) and forecasts for 2012 and 2017
by market sector, fastener type, world region and for 29 countries. The study
also assesses key market drivers and technologies, evaluates market shares and
profiles 41 global competitors.
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