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Analysis of the Fastener Market
Fastener market demand continues to increase, industrial clustering is one of the mainstream trends in its development,China is the largest producer of fasteners in the world. In recent years, domestic fastener production has shown a fluctuating growth trend. According to the report, the output of metal fasteners in my country will increase from 6.785 million tons in 2017 to 7.931 million tons in 2021, with a compound annual growth rate of 3.17%. Fasteners are closely related to the development of machinery, equipment, transportation, construction and other equipment industries. Benefiting from the intelligent upgrade of industrial manufacturing and the continuous emergence of emerging industries such as wind power, photovoltaics, and new energy, the domestic fastener market demand continues to increase. The size of the piece market is 145.87 billion yuan.