Development prospect forecast and demand scale analysis of the whole industry chain of the fastener industry market

Fasteners are the most widely used basic components in the industry today, and are known as "the rice of industry". Fasteners are characterized by a wide variety of specifications, different performance uses, a high degree of standardization, serialization, and generalization, and a wide range of applications, involving many sectors of the national economy, and are widely used in various machinery, equipment, vehicles, ships, etc. Railways, bridges, buildings, structures, tools, instruments, chemicals, instruments and other products. The prosperity of the above-mentioned main application industries is high, and the demand for fasteners is large, which further stimulates the expansion of the production capacity of fastener enterprises. The technological progress and industrial upgrading of the main application industries have further improved the performance and quality requirements of fasteners. Promote the technological level of the fastener industry and improve the quality of fastener products; the development of new application fields will expand the market demand for fasteners and promote the diversification of fastener products. In recent years, the entire fastener industry in my country has basically maintained a steady and gentle growth. In general, due to the slowdown in global economic growth and the increasing downward pressure on the domestic economy, the growth of downstream demand for fasteners has slowed down, especially There is a serious overcapacity of low-end fastener products in China, but the supply of high-end products is insufficient, and the fastener industry has shifted from high-speed growth to high-quality growth.

(1) Industry definition and classification:

Fasteners are a general term for a type of mechanical parts used to fasten and connect two or more parts (or components) into a whole, mainly including: bolts, studs, screws, nuts, self-tapping screws, Twelve categories, such as wood screws, retaining rings, washers, pins, rivets, assemblies, connecting pairs, and welding studs, are a class of mechanical parts that are used for fastening connections and are widely used.

(2) Overview of the global fastener industry:

Fastener demand is primarily driven by fluctuations in commodity prices, including coal, copper and iron ore prices, product life cycles, competitive pressures, and other economic factors affecting the construction and equipment industries. The global industrial fasteners market size was estimated at USD 83.34 billion in 2018. The global industrial fasteners market is expected to witness rapid growth thanks to the dramatic improvement in living standards, which stimulates the demand for durable goods. During the forecast period 2019-2025, it is expected to grow at a CAGR of 4.1%, and the global industrial fasteners market size will reach USD 110.24 billion by 2025. Fastener manufacturing trends are moving towards the production of innovative products such as specialty, micro and hybrid fasteners to adapt to changing consumer demands, which bodes well for future market growth.

Analysis of the status quo of the global industrial fastener market size from 2018 to 2025

Fasteners, Manufacturing, Industry Chain, Industry Analysis Report

Judging from the proportion of global industrial fastener applications in 2018, the automotive industry is currently the main application market for the fastener industry, followed by industrial machinery and aerospace. In addition, the demand for products from industrial machinery such as construction and mining is expected to grow at a CAGR of 4.4% during the forecast period, the demand for products from lawn and garden equipment is expected to grow at a CAGR of 3.2%, and the demand for downstream applications is on the rise The upward trend is conducive to the stable development of the fastener industry.

(3) Overview of my country's fastener industry:

After more than 40 years of reform and opening up, my country's fastener industry has completed a transformation from small to large, and its output ranks first in the world. It is a veritable producer and exporter. As the most basic and common mechanical basic parts, the fastener industry plays a pivotal role in the country's new strategic emerging industries, with broad market demand and good development prospects. Most of the fastener enterprises have low degree of automation, backward technology and equipment, poor product quality, low quality grade and small enterprise scale. Some high-end fasteners in my country (mainly key fasteners for high-speed locomotives, aviation, aerospace, and aircraft manufacturing) still need to be imported. The main reasons for not being self-sufficient are poor material stability, manufacturing technology level and management technology. There is still a big gap. There is a serious overcapacity of low-end products of domestic fasteners, and the supply of high-end products is insufficient, and the adjustment of industrial structure is imminent. Today, my country's economic development has entered a new normal, and the growth rate of fasteners will inevitably shift from high-speed to medium-speed; the development mode will shift from extensive scale and speed to quality and efficiency-intensive growth; structural adjustment will shift from incremental capacity expansion to both stock and incremental coexistence The in-depth adjustment; the development momentum has shifted from the traditional growth point to the innovative growth point, and the new normal will bring new development opportunities to China's fasteners.

In recent years, my country's fastener industry has maintained rapid development, and the output, sales and nationalization degree have been continuously improved. Fasteners are widely used in various fields of machinery, equipment, vehicles, ships, railways, bridges, buildings, structures, tools and instruments, and are closely related to the development of the equipment manufacturing industry. With the steady development of my country's economy, the continuous increase in the demand for downstream industries of fasteners, and the strong support of national policies, the market size of fasteners will continue to rise.

Statistics from CICC: From 2012 to 2019, the main business income of China's fastener manufacturing industry continued to rise to a peak in 2017 and then declined. By the end of 2019, the main business income of China's fastener manufacturing industry was 122.059 billion yuan, as shown in the following figure:

Analysis of main business income of China's fastener manufacturing industry from 2012 to 2019

In 2019, the fastener industry has encountered various challenges and difficulties. The impact of the Sino-US trade war has become apparent, and exports have declined significantly; international trade frictions have increased, and enterprises' exports have been hindered; raw material prices have remained high, and production costs have increased; environmental monitoring With intensified efforts, many enterprises are required to rectify, relocate, or even shut down; factors such as high comprehensive costs in all aspects restrict enterprises from further expanding production and exports. In 2019, the import volume of China's steel standard fasteners was 267,000 tons, a year-on-year decrease of 15.87%, and the import value was 2.839 billion US dollars, a year-on-year decrease of 11.84%.

(4) Development trend of fastener industry:

Compared with foreign advanced level, the technical level gap of my country's fastener industry is still large, mainly reflected in production equipment and raw materials. Most fastener manufacturers in my country are small in scale, backward in production technology, poor in equipment, slow in technological innovation, and poor in surface treatment, resulting in excess production capacity of low-level products in my country's fastener industry, while high-end fastener products are in short supply; The variety, specification and quality of domestic fastener steel can not fully meet the requirements of the fastener industry, resulting in the process that should have been solved in the metallurgical industry being transferred to fastener enterprises. At present, only a few enterprises can rely on their own Strong comprehensive strength to solve this problem.

At present, my country's national economic construction is entering a new stage of development, and advanced manufacturing represented by large aircraft, large power generation equipment, automobiles, high-speed trains, large ships, and large complete sets of equipment will also enter an important development direction. As a result, the use of high-strength and high-performance fasteners will continue to increase, which prompts fastener companies to continuously improve the quality and performance of products, speed up technological upgrading, enhance independent innovation capabilities, and continuously optimize product structure and broaden product offerings. category, improve the intelligence level of purchasing, production, sales and management.

Innovative fastener technology is the support for the development of fasteners, and the technological development trend determines the direction of industrial development to a considerable extent. The core technology of fasteners is not only to accelerate the research and development of special steel grades, but also to integrate the technical details and know-how of fastener manufacturing, testing and heat treatment. In the future, my country's fastener technology will gradually move closer to the advanced level of foreign countries in terms of material selection, structural design, manufacturing process, special process, testing technology, surface coating technology and quality control. Development will also be the main trend of technological development in the industry.

①Intelligence: Intelligent manufacturing is a new manufacturing mode of fasteners, and it is the inevitable result of the development of automation, digitization, networking and intelligence in machinery manufacturing. With the continuous rise of labor costs, the continuous improvement of product quality requirements, and the increasingly prominent diversity of needs, the demand for intelligent manufacturing in the fastener industry is becoming more and more urgent. Intelligent manufacturing will greatly improve the production efficiency and efficiency of fasteners, reduce the labor cost of enterprises, improve the working environment and labor intensity of workers, and improve product quality and reliability. Intelligent manufacturing includes the intelligence of the manufacturing process and the intelligence of the equipment. The intelligentization of the manufacturing process requires the development of various intelligent manufacturing systems, automated or intelligent production lines, and the construction of digital workshops, digital factories and digital enterprises. The intelligentization of equipment requires enterprises to increase investment in scientific and technological research and development and technological innovation, and improve the production capacity and production matching degree of production equipment. The key technical problems to be overcome in the intelligent manufacturing of fasteners in the next few years are: automated intelligent cold heading precision forming technology, cold heading machine technology and equipment for large-size fasteners, complex shape fastener precision forming technology, automated logistics equipment and Automatic heat treatment production line, etc.

②Integration Fusion is the cross-integration of multiple disciplines and the compounding of multiple processes, which is the trend of the new era. The fusion of machinery manufacturing technology and information technology and various high and new technologies, the fusion of machinery and materials, and the fusion of technology and culture will continuously inject new vitality into the development of fasteners. The application of fusion technology will generate new fastening components, manufacturing processes, processing equipment and systems, greatly enrich the product system of fasteners, and expand the functions of products.

In addition, process compounding and integration innovations are particularly noteworthy in convergent manufacturing. Process composite refers to the composite integration of various original processes and processes into one device, which greatly reduces process links and site occupation, improves work efficiency, and thus improves product quality. Integrated innovation is an innovative activity that converts various fusions into scientific and technological achievements and into productivity. It is an important way of fusion manufacturing and the main type of current fastener technology innovation.

③Supernormalization: With the expansion of people's living space and the rapid development of technology, the requirements for fasteners are also getting higher and higher, and the use of large, very small, ultra-high temperature, ultra-low temperature, ultra-high speed and ultra-low speed conditions The demand for fasteners is increasing, and the process technology for manufacturing these fasteners is very different from ordinary fasteners. Ultra-normal manufacturing includes two meanings: one is to manufacture fastener products that are used under abnormal conditions; the other is to produce the process and technology of these fastener products. In the future, ultra-precision manufacturing, ultra-high-performance product manufacturing and ultra-normal forming processes will be symbols of the level of fastener manufacturing, and will also become the focus of research and development for high-end fastener manufacturers.