Targeting EU & U.S., Taiwan Fastener Production and Export Likely to Set a New Record This Year

The ministry of economic affairs released a statistics on September 17 indicating that Taiwan fastener production and export is likely to set a new record this year. The statistics shows that the U.S. is the main export destination with USD 1.15 billion worth of fasteners exported from Taiwan to the U.S. in the first 8 months of 2018. Taiwan is the top source of fastener import for the U.S. and EU. The production value in 2017, benefiting from market recovery, rose to NTD 126.9 billion. That value in the first half of 2018 was NTD 69.5 billion at an annual growth rate of 15%. The full-year value is estimated at NTD 14 billion.
 
Taiwan fasteners are in a high-value transformation trajectory targeting applications in the aerospace, automotive and medical fields. The average export price has risen and the export value in the first 8 months of 2018 land at USD 3.08 billion at an annual growth of 16.6%. The estimated full-year export value could reach USD 4.5 billion. The top destination for Taiwan fastener export is the U.S. taking up 37.3% of market share, followed by Germany at 9.9%, the Netherlands and Japan both at 5%, and 3% respectively for UK, Canada and China.
 
If we look at the market shares of fasteners imported by the U.S., in the first half of this year Taiwan topped the U.S. fastener import market by a share of 32%, followed by China at 25.8% and Japan at 11.5%. As for the EU fastener import market, Taiwan topped by a share of 25.4%, followed by China at 19.4% and the U.S. at 13.2%.