[Industry Information] Do you know the fastener industry market?
China's fastener output is growing steadily.
In the past 30 years, with the rapid development of metallurgical industry, machinery industry and electronic industry, the upgrading of fastener products and the continuous progress of fastener industry in the world have been promoted. Since the 21st century, major national trans-century projects, such as West-to-East Gas Transmission Project, South-to-North Water Transfer Project, high-speed railway and West-to-East Power Transmission Project, have been fully rolled out. Domestic automobile, machinery, home appliances, shipbuilding, transportation and other industries have continued to grow, and the strong demand for production and construction will drive the substantial growth of fastener industry.
China's fastener market demand is increasing year by year.
Fasteners are widely used in various fields such as machinery, equipment, vehicles, ships, railways, bridges, buildings, structures, tools and instruments, etc. The development of equipment manufacturing industry is closely related. Based on the analysis of the data in recent years, it is found that during the period of 2012-2019, the sales revenue of China's fastener industry fluctuated. According to the development trend of China's fastener downstream industry, the sales revenue of China's fastener industry in 2019 was about 138 billion yuan.
China's fastener trade surplus is gradually increasing.
In 2019, the total import and export volume of fasteners in China was 9.376 billion US dollars, down by 4.39% year-on-year. Among them, the total import volume of fasteners in China in 2019 was 2.839 billion US dollars and the total export volume was 6.537 billion US dollars. In 2019, China's fastener trade surplus was 3.698 billion US dollars, up 9.83% year-on-year, which was mainly due to the decline of import volume far greater than that of export volume.
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