With the deepening development of global industrialization, the market size of the fastener industry continues to expand. According to market research data, the value of the global industrial fastener market is increasing year by year, and is expected to continue to grow at a rate of more than 4.1% during the period 2024-2029.
In the past few years, the fastener industry has also performed very well in China. In 2024, the total export value of China's fasteners exceeded US$10 billion, especially in the fields of new energy, automobile manufacturing, infrastructure engineering, etc., the demand for high-performance fasteners has risen rapidly. The rapid development of the Indian and Southeast Asian markets has also provided new growth momentum for Chinese fastener companies.
Technological progress and product innovation are also one of the main driving forces for the development of the industry. In 2024, the fastener industry has made certain progress in material science, precision machining, corrosion resistance technology, etc. Taking the cold heading process as an example, the cold heading machine can significantly improve production efficiency and product precision by adopting a continuous, multi-station, and automated production mode.
In addition, the application of fasteners in high-end manufacturing fields is also expanding. For example, in the fields of aviation, aerospace, new energy and automobiles, the industry's demand for high-strength, lightweight and high-temperature resistant fasteners is increasing.