Fastener industry overview
Fasteners are a general term for a class of mechanical parts used when two or more parts (or components) are tightly connected into a whole. They are usually used in various machinery, equipment, vehicles, ships, railways, Bridges, buildings, structures, tools, instruments, chemicals, meters and supplies.
The characteristics of fasteners include a wide variety of specifications, different performance uses, and a high degree of standardization, serialization, and generalization. In the market, fasteners are usually referred to as standard parts, which means that their manufacturing, size, inspection and other aspects follow national or industry standards, and are manufactured and produced by manufacturers using corresponding molds.
Common types of fasteners include bolts, studs, screws, nuts, tapping screws, washers, etc. These fasteners play an important role in various fields, ensuring the stability and safety of various equipment and structures.
Fastener industry chain structure
Upstream raw material supply chain: The upstream of the fastener industry is mainly composed of raw material suppliers such as steel, copper, aluminum and other non-ferrous metals and plastics. The quality and supply stability of these raw materials have a direct impact on the performance and production costs of fastener products. According to public data, China's steel and other raw materials production is stable, providing sufficient raw material support for the fastener industry.
Midstream fastener manufacturing link: The midstream link is the core of fastener production, involving steel procurement, processing, molding, heat treatment, surface treatment and other steps. According to the market demand and raw material characteristics, fastener manufacturers produce all kinds of bolts, studs, screws, nuts and other fastener products. At present, China has become the largest producer of fasteners, and the output and quality are in the forefront of the world.
Wide range of downstream applications: The downstream applications of fasteners are very wide, including automotive, machinery, home appliances, construction, electricity, electronic appliances, aerospace manufacturing and other fields. The development of these downstream industries directly drives the growth of fastener demand, providing a broad market space for the fastener industry.
Fastener industry development status and future development trend

Fasteners are known as the "industrial rice", the global fastener manufacturing industry after hundreds of years of development, with the continuous upgrading of the industry, the downstream application industry is increasingly extensive. From the domestic point of view, China's economic wave development, zigzag forward, China is the world's largest producer of the same parts, but the domestic fastener market to participate in the production of large enterprises less, more small-scale enterprises. In 2023, the number of fastener exports in China was 4,978,819 tons, a decrease of 30 tons compared with the same period in 2022, and the amount of fastener exports in China in 2023 was 1,110,530.3 million US dollars, a decrease of 16.8% compared with the same period in 2022.

In recent years, the fastener industry has basically maintained a market size of more than 100 billion, but the domestic fastener low-end overcapacity, but a large number of high-strength, high-precision fasteners still need to be imported, such as aviation tight parts, high-end passenger car engines, chassis, tire bolts, etc., resulting in China's import and export fasteners there is a certain difference. The upgrading and adjustment of product structure is the inevitable trend of the development of the industry.
According to the "2024-2029 China Fastener Industry In-depth research and Development Prospects Forecast Report" released by the Zhongpu Industrial Research Institute:
The upgrading and development of the fastener industry is the basis for the upgrading of China's manufacturing industry and is of great significance to the development of the national economy. In this context, China's high-end fastener market is expected to continue to grow. In March 2024, The State Council issued the "Action Plan to Promote Large-scale equipment Renewal and Daily replacement of Consumer goods", which clearly proposed the renewal and renovation plan for key industry equipment, construction and municipal infrastructure equipment, transportation equipment, old agricultural machinery, education and medical equipment and other fields. This move aims to orderly promote the upgrading of equipment in these areas, and actively carry out the old and new activities of automobiles, home appliances and other consumer goods, to form a significant replacement scale effect,
Combined with the in-depth promotion of the "Belt and Road" initiative and the transformation and upgrading of the traditional manufacturing industry, it is expected that the capacity of the fastener market will be further released. At the same time, with the continuous and rapid development of emerging industries such as electronic communications, automobile manufacturing, nuclear power engineering, Marine engineering and other fields, the performance and quality requirements of fasteners in these industries are also constantly improving, thus driving the continuous growth of the demand for fasteners.