In 2023, in the face of the main foreign trade contradiction of weaker external demand and lower orders, what is the development trend of the fastener industry?
Sino-US trade frictions, geopolitical conflicts and other events have caused the world to pay more attention to supply chain security. Europe and the United States are actively promoting the restructuring of global industrial chains based on supplier diversification, localization and friendly shore production. It is expected that the situation of continuous growth of fastener exports that has been maintained for many years may be reversed, and the situation of fastener exports in 2023 does not rule out the possibility of decline.
The fastener industry is superimposed on the high tax rate decided by the final EU anti-dumping decision last year, and the gradual shrinking of the fastener export market share has become an inevitable trend. There is a certain risk of spillover in the domestic fastener industry chain. In the future, some orders for low-end fasteners will be diverted to related manufacturing countries such as Southeast Asia, Mexico, and India.