Positive toward Turkey Fastener Market

2012-06-27

In 2011, Turkey fastener export value was up to USD243.9 million, mainly exporting to the EU and Middle East while its import value was up to USD570 million, mainly importing from China (37%), Germany (15%), France (11%), Italy (7%), Japan (5%), and Taiwan (4%). With recently the strong domestic demand from auto/motorcycle parts and construction industries, Turkey has a continuously growing fastener industry. There are over 70 middle and large size fastener manufacturers in the country. The market insider indicated that it is now a good timing to invest in Turkey, and collected few reasons for reference.
(1) Turkey Fastener market is still limited, and thereafter much is desired.
(2) There are dozens of cold or hot forging fastener manufacturers in Turkey while only few with  high-quality fasteners and high production capacity can sell products to Europe, and thus much improvement is required.
(3) Fastener markets in Turkey and Europe are still constantly growing.
(4) European countries are the ones who can really change the global fastener industry direction, and Turkish infrastructure and technology capability can mostly meet the European high standard. Germany is the second largest country importing fasteners in the world and with an annual import value as high as USD3 billion. Regarding the trading between Germany and Turkey, the land transportation only takes one day and it takes only three days for Turkey to trade with the farthest European country through land transportation.
(5) The labor cost of Turkey is nearly half of that of Europe.
(6) Due to eco-friendly concept, it is not allowed to produce hot-dip galvanizing fasteners in Europe; however, that kind of fasteners is required in European steel construction industry. Turkey, on the other hand, doesn't forbid producing those fasteners, and thus the Turkish manufacturers of the kind of fasteners can export their products to Europe.
(7) Europe is substantially investing in wind power industry, and it will continue. High strength fasteners are necessary in rotor shafts and wind turbines used in wind power. European wind power plants are not willing to import those fasteners from Far East while those fasteners produced by Turkey are widely accepted in Europe.