The particularity of the fastener industry is that it is deeply dependent on the changes in demand of various downstream manufacturing industries. By comparing industry attributes and service models, China's fastener industry can be divided into four types: venture capital, media, industry and service. Among these four types, since the industrial fastener industry is mostly dominated by enterprises and is more closely related to corporate business, it has a higher commercial feasibility.
Factors affecting the fastener industry
Policy factors
Local governments and industry associations will also formulate corresponding development plans based on regional and industry characteristics. The "Fastener Industry Development Plan" clearly states that the fastener industry will achieve a growth rate of 30% by 2025, and corresponding policies have been introduced in various places, which has increased the penetration rate of the industry as a whole.
2025 is a key year for the development of the fastener industry. The fastener industry will become an important market that enjoys policy dividends. The government will continue to increase its support for the industry and promote the development of the industry. From the perspective of the external macro environment, the country will gradually introduce new policies and regulations that affect the development of the industry, such as strict energy-saving and emission reduction policies, environmental protection regulations, etc., which directly affect the development of the fastener industry.
Economic factors
The market demand for the fastener industry will continue to grow in the next five years. China's economy will continue to recover in 2024, and the economic growth rate is expected to remain at around 5% in 2025, in order to achieve the goal of doubling per capita GDP in 2035. This also brings important market demand support to the fastener industry.
Social factors
Today, the post-90s and post-00s have gradually become the main consumers, and market demand has also changed. Young consumers pay more attention to brands, innovations and personalized product needs, injecting fresh blood into the industry.
It has become an important trend for consumers to purchase fastener products through e-commerce platforms. Especially in second- and third-tier cities and remote areas, online transactions provide users with a more convenient shopping experience. This phenomenon has been further accelerated in 2024, and industry companies have strengthened cooperation with e-commerce platforms to expand sales channels.
Technical factors
Technological progress is one of the main factors driving the development of the fastener industry. Technologies such as VR, big data, and 5G have gradually penetrated into the manufacturing industry. The fastener industry is also undergoing a transformation from traditional production methods to intelligent and automated production. In 2024, the fastener industry introduced intelligent systems such as ERP, OA, and EAP, which optimized the information management and construction links and improved the industry's production efficiency.