Abstract
Global demand to rise 4.8% annually through 2010
World demand for industrial fasteners is projected to rise 4.8 percent
annually through 2010 to $55 billion, accelerating from the 2000-2005 period.
Fastener demand will be stimulated by rebounding world economic growth,
increased fixed investment activity, higher manufacturing output and rising
motor vehicle production. Market gains in developing parts of the world --
including the Asia/Pacific, Africa/Mideast, Eastern Europe and Latin America
regions -- will considerably outpace demand in the US, Western Europe and
Japan.
China, developing regions to register strongest growth
China will exhibit the largest gains of any national market in dollar terms as
the country continues to develop as an economic power and manufacturing and
fixed investment activity climb. By 2010, China will surpass Japan to become
the second largest fastener market in the world behind the US. Market growth
will also be strong in India, Thailand, Malaysia, Taiwan, Turkey and Russia.
Industrial fastener demand in the US, Western Europe and Japan will accelerate
through 2010, although the rate of growth will be less robust than in
developing areas Sales growth will be spurred by generally favorable economic
conditions and higher income levels, leading to a rise in manufacturing
activity and consumer expenditures for durable goods, bolstering associated
fastener demand.
Although representing mature markets, these areas -- along with Australia and
Canada -- will remain the most intensive users of industrial fastener
products. Gains will reflect the advanced industrial and technological nature
of their economies, as well as the large numbers of fastener-containing
equipment in use -- supporting substantial maintenance/repair/ operations
(MRO) fastener demand.
Nonthreaded standard types to exhibit best sales gains
Nonthreaded standard fasteners will record the strongest sales gains through
2010, fueled by growth in global construction expenditures and supported by
stepped-up spending for aircraft and other military equipment in many areas.
Demand for aerospace-grade fasteners will rise at an above-average rate as
well, spurred by renewed strength in commercial and military aircraft
production as global business conditions continue to improve and defense
expenditures climb. However, externally and internally threaded fasteners will
remain larger product segments in dollar terms. Demand for these items will be
stimulated by ongoing industrialization efforts in developing nations, leading
to higher product sales in both construction and manufacturing-related
settings, and supported by new innovations in product design, boosting demand
for more expensive, upper-end products.
Motor vehicles to remain largest fasteners market
Electrical and electronic equipment will be the fastest growing market for
industrial fasteners through 2010. Suppliers will benefit from healthy
increases in output of items like digital cameras and multifunction wireless
communication devices.
Although expected to register below-average sales gains, motor vehicles will
continue to represent by far the largest global market for fasteners in 2010.
Product demand will be spurred by an acceleration in global motor vehicle
output. In addition, the growing use of more highly engineered fasteners and
continued adoption of more safety, entertainment and other accessory systems
will provide automotive fastener suppliers with new sales opportunities.
Study coverage
World Industrial Fasteners is a new Freedonia study. It provides historical
supply and demand data through 2005 plus forecasts to 2010 and 2015 by type
and market for 6 world regions and 28 selected countries. This study also
assesses market share data and profiles 40 global competitors.
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