The ever strengthening global market for goods can only mean one thing for fastener demand . Things are heading up. The more the world economy produces, the more fasteners will be needed to make that production possible.
Projected Future Growth of Approximately $84 Billion
An eagerly anticipated report by Global Industry Analysts forecasts a growing demand for Industrial Fasteners of $83.8 Billion U.S. dollars. And when is this expected? No later than the year 2020. This unprecedented growth is the result of the boom in automotive and general manufacturing and an ever increasing demand of consumer goods for the recovering economies around the world.
The comprehensive report in U.S.dollars, covered all major geographic world markets including the U.S., Canada, Europe, Italy, Russia, UK, Spain. The Asia-Pacific regions, including India, South Korea, Taiwan, China and other A-P markets. Latin America led by Brazil and other Latin-American nations, as well as other world markets, not specifically mentioned in the list above. It focused on market trends, product invention, creation and innovation, strategic initiatives of market leading companies and other drivers spurring growth around the world.
After all is said and done, experts agree that the rapid growth, is fueled by among other factors, by the newly emerging middle class of consumers with expanded disposable incomes and pent-up demand for goods and services.
The Asia-Pacific Region is the World’s Largest Market
The Asia-Pacific region has quickly emerged as the world’s largest market with huge and growing investments from major producers for defense, infrastructure and aerospace as nations like China, India, South Korea and Malaysia rapidly increase their building and manufacturing sectors to keep up with demand. The U.S., however, still retains its slot as the largest single market for industrial and plastic fasteners.
The push to bring manufacturing back to the U.S. is projected to be a major trend and will lead to record growth. And a leader in this push are the American-made Bolts and fasteners manufacturers.
The study, ‘Industrial Fasteners: A Global Strategic Business Report,” segmented the market by end-use demand covering, Nuts, Bolts, Screws, Rivets/Washers and other types of fasteners, with emphasis on Aerospace, Construction, Mechanical Engineering, Automotive and general Manufacturing needs. The overall conclusions lead to a continued and sustained growth pattern for the plastic fastener and bolt manufacturing industry, and this growth will likely increase as consumer demand continues to heat up.
The Truth Made Simple for the Plastic Fastener Industry
Let’s make the idea simple for you. What we are saying is that the way modern life is made up, the products we use in consumer goods, health industry, automotive industry, aerospace and more require new and improved industrial plastic fasteners and plastic composite fasteners.
These indispensable items hold together the various components of manufacture. Whether a nut, bolt, screw, rivet, nail, clip, snap, these ubiquitous , highly-engineered, and yes, plastic, fasteners make our continuing output possible and industry could not survive without them.
Simply put, fasteners are critical components ensuring the integrity and longevity of everything from buildings to busses, computers and devices and yes, the indispensable smartphone and tablets . None of the products that are so part of our everyday life, including the dwellings we live in, would be possible without fasteners. Also moving the fastener industry, is an increasing demand from new, emerging markets in construction, electronics, aerospace. Although at first glance, a fastener may seem relatively inconsequential, the reality is quite different.
In fact, the world of plastic fasteners is quite complex. As such, fastener development requires significant on-going research and development to improve and analyze axial and bending cycling load conditions to reduce failure, fatigue, and undo or prevent wear and tear.
The Need for Micro Fasteners Offers Another Spurt of Growth for The Industry
Just as in other sectors, technological improvements and breakthroughs have made the plastic fastener industry even more reliable,long-lasting and dependable in all its applications from the very small to the very large. In fact, the latest movement is in the creation of micro-fasteners, a production need required by devices that are becoming smaller and lighter.
The growing preference for technologically advanced lightweight fasteners has spurred the growth of all types of plastic fasteners. In fact, there is now an effort to develop different strengths of plastic fasteners through the integration of nylon. Technological breakthroughs have also been achieved with on-going research initiatives in the blending of composite materials like glass and metals with plastic to increase performance, longevity, adaptivity and strength.
How Are Plastic Fasteners, Washers and Bolts Produced?
Plastic fasteners are injection moulded unlike their metal cousins which require heat treating so they provide tighter seals, longer-life, less maintenance and repair and replacement. New technology have made them equal to metals in terms of toughness, heat and corrosion resistance, making moisture much less of a factor in eventual failure.
Weight Reduction Plays a Vital Role
There is also growing demand for weight reduction, driven by new regulations for fuel efficient standards. The trend to lighter vehicles, with reduced emissions and improved fuel economy, will of course make plastic and composite fasteners even more sought after and necessary.
Product recall, the growth of commercial and private aviation, the growth of personal and household items such as higher-end appliances, bode extremely well for manufactures and innovators in industrial plastic composite fastener manufacture and in the development of advanced threaded fasteners. All these factors show a market ready for continued growth as the global economy continues its upward movement.
The Trend Continues To Grow
Think of the average home and business even 20 years ago and look at the explosion of products you see today, from microwaves, to robot vacuum cleaners. In the 50’s the average home has 5 appliances, today the are many times that number and that number will continue to rise. Innovation requires fasteners to keep it all together, it really is that simple. You don’t have to be Houdini to predict how healthy and growing the market for innovative advanced industrial plastic fasteners will be. And there is every reason to believe that trend will continue unabated.