Do you know the fastener industry market?

In the past 30 years, with the rapid development of metallurgical industry, machinery industry, electronic industry, etc., it has promoted the upgrading of global fastener products and the continuous progress of fastener industry. Since entering the 21st century, the country’s major cross-century projects—the West-East Gas Pipeline, South-to-North Water Transfer, High-speed Railway, and West-East Power Transmission have been fully rolled out. The domestic automobile, machinery, home appliances, shipbuilding, and transportation industries have continued to grow, and vigorous production and construction. Demand will drive substantial growth in the fastener industry.

Fasteners are widely used in various machinery, equipment, vehicles, ships, railways, bridges, buildings, structures, tools and instrumentation and other fields, and the development of equipment manufacturing is closely related. Analysis of the data in recent years found that the sales revenue of China's fastener industry fluctuated during the period 2012-2019. According to the development trend of my country's fastener downstream industry, the sales revenue of my country's fastener industry in 2019 is about 138 billion yuan.

In 2019, my country's fastener imports and exports totaled 9.376 billion U.S. dollars, a year-on-year decrease of 4.39%. Among them, my country's total fastener imports in 2019 were 2.839 billion U.S. dollars and total exports were 6.537 billion U.S. dollars. In 2019, my country's fastener trade surplus was 3.698 billion US dollars, an increase of 9.83% year-on-year, mainly because the decline in imports was much greater than the decline in exports.