Recovery of U.S. Housing and Automotive Markets Boosts Fastener Demand to Grow 4.3% Annually

Activated by the growing economy, U.S. automotive and housing markets continue to turn well. Analysts in the market pointed out that such development is good to the increase in U.S. market demand. As fastener sales to the U.S. has significantly increased in September, it is expected that there will be more orders from the U.S. for fasteners in the future.

One analysis also pointed out that before the end of 2017 U.S. demand for industrial fasteners will grow 4.3% annually, reaching USD14.8 billion. The increase in demand mainly resulted from the recovery of the car manufacturing market, which represented roughly one fourth of the total fastener demand. However, the fastest growth in fastener sales was observed in the construction sector. Statistics show that U.S. car sales this September grew 9% from the same period last year to 1.24 million units and the sales of housing this September grew 2.4% year on year to 5.17 million houses, the greatest increase this year.