Chinese | English | Contact Us

Industry News

US Industrial Fastener Demand to $14.8bn in 2017

Publish Date:2014-07-15

"Gains in demand will be supported by rebounding manufacturing levels in the key motor vehicle market, and by a strong recovery in the residential and nonresidential construction market."


US demand to rise 4.3% annually through 2017

US demand for industrial fasteners is expected to increase 4.3 percent per year to $14.8 billion in 2017. Gains will be supported by rebounding levels of motor vehicle manufacturing, a segment that makes up roughly one-quarter of all fastener demand. The fastest growth in fastener sales will be found in the construction market, as construction activity -- both residential and nonresidential -- makes a strong recovery from the declines posted during the 2007-2012 period. Competition from alternative joining technologies, such as adhesives, clinching, and welding, will prevent further gains in a number of applications. Moreover, fasteners are a mature product; while opportunities for value-added technological improvements certainly exist, they tend to be limited in many markets. Finally, competition from foreign producers, as well as moderating raw material costs, will hold back price increases, dampening value gains.

Standard fasteners to outpace aerospace-grade

Growth in demand for standard fasteners is forecast to outpace that for aerospace-grade products through 2017. This will be a result of standard fasteners’ heavy use in the OEM and construction markets. Externally threaded standard fasteners will remain the largest single product category, posting the fastest gains, along with application-specific products. Demand for aerospace-grade fasteners will improve from the growth registered during the 2007-2012 period, as aerospace equipment shipments accelerate. Manufacturers serving this market will need to continue adjusting to the growing use of composites in aircraft manufacturing. Composite designs often require fewer fasteners, but provide opportunities for sales of higher value fastening products designed specifically for use with composites.

OEM market to outpace growth in the MRO market

The original equipment manufacturing market (OEM) for industrial fasteners will outpace growth in the maintenance/repair/operations (MRO) market, as US machinery and aerospace equipment shipments are forecast to expand at improved rates. 

Source: Freedonia

Prev:The Brazilian fastener manufacturer Jomarca completed 45 year Next:US sets preliminary subsidy rates on China's steel wire rod