Dual Driving Force of the Technology Market
China's fastener manufacturing industry ushered in new development, technological innovation and market demand two-wheel drive
With the rapid development of the global industry, the market demand for fasteners, as an indispensable basic component in the industrial field, continues to grow. As a major producer and exporter of fasteners in the world, China's fastener industry is ushering in new development opportunities. The following are the latest developments in China's fastener manufacturing industry:
1. Production growth: According to the latest data, China's fastener output is expected to reach 9.7798 million tons in 2023, showing that the production capacity of China's fastener industry continues to increase.
2. Technological innovation: China's fastener industry is improving product quality and performance through technological innovation. For example, Sijin Intelligent (003025.SZ) announced that its multi-station intelligent precision warm upsetting equipment has entered the substantial development stage, which marks the progress of China's fastener manufacturing technology.
3. Market demand: The rapid development of the new energy vehicle industry has had a positive impact on the fastener industry. In 2023, the demand for fasteners in the automotive sector will account for more than 65%, followed by the construction industry, accounting for about 13%. This shows that the development of the new energy vehicle industry is becoming a new engine for the growth of the fastener industry.
4. Policy support: The Chinese government's support for the fastener industry continues to increase. "Made in China 2025" clearly points out that it is necessary to promote the development of core basic components as a whole, support the promotion and application of core basic components, advanced basic technology and key basic materials, and provide favorable policies for the fastener industry.
5. Development of high-end products: With the improvement of industrialization level and technological progress, the use of high-strength fasteners has gradually increased. The State Machinery Administration listed "high-strength special-shaped fasteners" as a product to encourage the development of products, showing that high-end fastener products are a key area for future development.
6. International trade: China's fastener industry plays an increasingly important role in global trade. In 2022, China's fastener exports will reach 4.979 million tons, a year-on-year increase of 1.4%; The export value reached 13.65 billion US dollars, a year-on-year increase of 17.8%, showing the competitiveness of China's fasteners in the international market.
7. Enterprise dynamics: Chinese fastener manufacturers are enhancing their competitiveness through technological innovation and market expansion. For example, Feiwo Technology actively expands high-end fastener products in non-wind power industries such as aerospace, petroleum equipment, gas turbines, and construction machinery, showing the company's active exploration in new fields.
To sum up, China's fastener manufacturing industry is ushering in new development opportunities, and the two-wheel drive of technological innovation and market demand will promote the continuous growth of the industry. With the support of policies and the technological progress of enterprises, it is expected that China's fastener industry will continue to maintain growth momentum in the next few years.