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Fastener industry market analysis
The development of the global fastener industry began around 1700. At that time, the Wyatt brothers in England began to produce wood screws. After the industrial revolution began, square nails made of wrought iron began to appear. With the advancement of technology, the United States has emerged in the world's first batch of companies focusing on fastener production. The continuous maturity of industry technology and products has led to the establishment of a fastener standard system. By the 21st century, after several centuries of continuous development, the global fastener industry standard system has been established. With the continuous introduction of various new materials into the fastener manufacturing industry and the continuous expansion of downstream application fields, the global fastener industry The product categories are still being enriched, and the standard system is still being improved.
Affected by the new crown epidemic in 2020, the global economy will decline sharply, and the market size of the fastener industry will also drop by 6.76% to 76.26 billion U.S. dollars. In 2021, the global fastener industry market size will rebound to 79.54 billion U.S. dollars, but it has not yet reached the level before the epidemic..According to forecasts, with the continuous expansion of the global economy, the downstream application market demand of the fastener industry will continue to increase. In the future, the market size of the fastener industry will grow at a rate of 4.3% per year. By 2027, the global fastener industry market will The scale will reach 98.2 billion US dollars.