In 2013, the demand for industrial fasteners in China will exceed 74.2 billion yuan.
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Standard fasteners, internal and external threads and non-threads account for 98% of the demand for industrial fasteners in China. Externally threaded fasteners account for the largest share of standard fasteners in China. In 2008, their demand accounted for 3/5 of total demand. However, due to the application of adhesives and other alternative joining techniques, the growth rate of externally threaded fasteners will slow down. The shrinking of the construction industry also caused the internal thread type fasteners to grow at an annual rate below average in 2013. The non-threaded type has the lowest annual growth rate and only grows at a rate of 9.9% per year. Sales of aviation fasteners will also exceed standard parts by 2013, growing at a rate of 13.4% per year. The government's continued investment in important aerospace fastener markets such as infrastructure, aviation and defense will also stimulate demand for fasteners in China.
According to forecasts, the new demand for fasteners by OEMs (original equipment manufacturers) and the construction market will exceed the MRO (maintenance, repair and overhaul) market by 2013. OEMs will maintain their leading position in China's fastener market demand, accounting for 75% of total fastener demand, coupled with the stimulation of industrial machinery, automotive, electrical, electronic and other products market demand, sales of fasteners There will also be new growth. The government's demand for high-quality fasteners for the construction of large-scale infrastructure and the construction of non-residential buildings in the construction industry will also drive the growth in demand for fasteners in the construction industry.