Asian Fastener Demand to Share 45% of Global Market by 2018

In 2011, the demand of global industrial fastener market was USD65.5 billion and is expected to reach USD94.65 billion by 2018 (with a CAGR of 5.4%). The economic developments in China, Brazil, and India push the disposable incomes of consumers to increase and promote the growing demand of the automotive industry, which is one of the important factors to move the fastener market forward. In addition, the developments of the construction and maintenance industries worldwide during 2012-2018 will also become one of the factors to increase the fastener demand. However, the high antidumping rates imposed by the EU will to some extent restrict growth of the fastener market. The customization of fasteners applied to railways and solar equipment will bring more business opportunities to the entire fastener market.