Fasteners are the most widely used basic components in industry today, and are known as "industrial rice". Fasteners are characterized by a wide variety of specifications, different performances and uses, a high degree of standardization, serialization, and generalization, and a wide range of applications, involving many sectors of the national economy. They are widely used in various machinery, equipment, vehicles, ships, Railways, bridges, buildings, structures, tools, instruments, chemicals, instruments and other products. The prosperity of the above-mentioned main application industries is high, and the demand for fasteners is large, which will further stimulate the expansion of the production capacity of fastener enterprises. The technological progress and industrial upgrading of the main application industries will further increase the requirements for the performance and quality of fasteners. Promote the advancement of the technical level of the fastener industry and promote the improvement of the quality of fastener products; the development of new application fields will expand the market demand for fasteners and promote the diversification of fastener products. In recent years, the entire fastener industry in my country has basically maintained a steady and steady growth. Generally speaking, due to the slowdown in global economic growth and the increasing downward pressure on the domestic economy, the growth in downstream demand for fasteners has slowed down, especially The low-end production capacity of domestic fasteners is seriously overcapacitated, but the supply of high-end products is insufficient, and the fastener industry has shifted from high-speed growth to high-quality growth.

CICC Enterprise Credit International Consulting released the "2021-2027 China Fastener Industry In-depth Research Analysis and Investment Risk Forecast Evaluation Report"

(1) Industry definition and classification: Fasteners are a general term for a type of mechanical parts used to fasten two or more parts (or components) into a whole, mainly including: bolts, studs, Twelve categories of screws, nuts, self-tapping screws, wood screws, retaining rings, washers, pins, rivets, assemblies and connecting pairs, welding nails, etc., are a type of mechanical parts that are used for fastening connections and are widely used.

(2) Overview of the global fastener industry: The demand for fasteners is mainly driven by fluctuations in commodity prices, including coal, copper and iron ore prices, product life cycles, competitive pressures, and other economic factors affecting the construction and equipment industries . The global industrial fasteners market size was estimated at USD 83.34 billion in 2018. The global industrial fasteners market is expected to witness high growth thanks to the great improvement in living standards, thereby stimulating the demand for durable goods. During the forecast period 2019-2025, it is expected to grow at a CAGR of 4.1%, and the global industrial fasteners market size will reach USD 110.24 billion by 2025. Fastener manufacturing trends are moving towards the production of innovative products such as specialty, micro, and hybrid fasteners to meet changing consumer demands, which augurs a growing market in the future.

Judging from the proportion of global industrial fastener applications in 2018, the automotive industry is currently the main application market for the fastener industry, followed by industrial machinery and aerospace. In addition, the demand for products for industrial machinery such as construction and mining is expected to grow at a CAGR of 4.4% during the forecast period, the demand for products for lawn and garden equipment is expected to grow at a CAGR of 3.2%, and the demand for downstream applications is in constant growth. The upward trend contributes to the stable development of the fastener industry.

(3) Overview of my country's fastener industry: After more than 40 years of reform and opening up, my country's fastener industry has completed the transformation from small to large, and its output ranks first in the world. It is a veritable producer and exporter. As the most basic and most versatile mechanical basic parts, the fastener industry plays a pivotal role in the country's new strategic emerging industries, and has broad market demand and good development prospects. Most fastener enterprises have low degree of automation, backward technical equipment, poor product quality, low quality grade, and small enterprise scale. Some high-end fasteners in my country (mainly key fasteners for high-speed locomotives, aviation, aerospace, and aircraft manufacturing) still need to be imported. The main reasons for not being self-sufficient are poor material stability, manufacturing technology level, and management technology that are far from the requirements of zero-defect products. There is still a big gap. The low-end product capacity of domestic fasteners is severely overcapacitated, and the supply of high-end products is insufficient. The adjustment of industrial structure is imminent. Today, my country's economic development has entered a new normal, and the growth rate of fasteners will inevitably shift from high speed to medium speed; the development mode will shift from extensive scale and speed to quality and efficiency intensive growth; structural adjustment will shift from incremental capacity expansion to the coexistence of stock and increment In-depth adjustment; the development momentum has shifted from traditional growth points to innovative growth points, and the new normal will bring new development opportunities to Chinese fasteners.

In recent years, my country's fastener industry has maintained rapid development, and its output, sales volume and nationalization level have continued to increase. Fasteners are widely used in various fields such as machinery, equipment, vehicles, ships, railways, bridges, buildings, structures, tools and instruments, and are closely related to the development of the equipment manufacturing industry. With the steady development of my country's economy, the demand for fastener downstream industries continues to increase, and the strong support of national policies, the market size of fasteners will continue to rise.

Statistics from CICC Enterprise Credit: From 2012 to 2019, the main business income of China's fastener manufacturing industry continued to rise and then declined after peaking in 2017. By the end of 2019, the main business income of China's fastener manufacturing industry was 122.059 billion yuan, as shown in the figure below:

In 2019, the fastener industry encountered various challenges and difficulties. The impact of the Sino-US trade war appeared, and exports fell significantly; international trade frictions increased, and corporate exports were hindered; raw material prices remained high, and production costs increased; environmental protection supervision As efforts have been intensified, many companies have been required to rectify, relocate, or even shut down; factors such as high comprehensive costs in all aspects have restricted companies from further expanding production and exports. In 2019, the import volume of China's steel standard fasteners was 267,000 tons, a year-on-year decrease of 15.87%, and the import value was 2.839 billion US dollars, a year-on-year decrease of 11.84%.

(4) The development trend of the fastener industry: Compared with the foreign advanced level, the technical level of my country's fastener industry still has a large gap, which is mainly reflected in the production equipment and raw materials. Most of the fastener manufacturers in my country are small in scale, backward in production technology, poor in equipment, slow in process innovation, and poor in surface treatment, resulting in excess production capacity of low-level products in my country's fastener industry, while high-end fastener products are in short supply; in addition However, the varieties, specifications, and quality of domestic fastener steel cannot fully meet the requirements of the fastener industry, resulting in the transfer of processes that should have been solved in the metallurgical industry to fastener companies. At present, only a few companies can rely on their own Strong comprehensive strength solves this problem.

At present, my country's national economic construction is entering a new stage of development, and advanced manufacturing represented by large aircraft, large power generation equipment, automobiles, high-speed trains, large ships, and large complete sets of equipment will also enter an important development direction. As a result, the use of high-strength and high-performance fasteners will continue to grow, which prompts fastener companies to continuously improve product quality and performance, speed up technological upgrading, enhance independent innovation capabilities, and continuously optimize product structure and broaden product lines. categories, improving the intelligence level of procurement, production, sales and management.

Innovative fastener technology is the support for the development of fasteners, and the trend of technological development determines the direction of industrial development to a considerable extent. The core technology of fasteners is not only to accelerate the research and development of special steel grades, but also to integrate the technical details and know-how of fastener manufacturing, testing and heat treatment. In the future, my country's fastener technology will gradually approach foreign advanced levels in terms of material selection, structural design, manufacturing technology, special technology, testing technology, surface coating technology and quality control. Development will also be the main trend of industry technology development.

①Intelligence: Intelligent manufacturing is a new manufacturing model for fasteners, and it is the inevitable result of the development of automation, digitization, networking and intelligence in mechanical manufacturing. With the continuous rise of labor costs, the continuous improvement of product quality requirements, and the increasingly prominent demand diversity, the demand for intelligent manufacturing in the fastener industry is becoming more and more urgent. Intelligent manufacturing will greatly improve the production efficiency and benefits of fasteners, reduce the labor cost of enterprises, improve the working environment and labor intensity of workers, and improve product quality and reliability. Intelligent manufacturing includes the intelligence of the manufacturing process and the intelligence of the equipment. The intelligentization of the manufacturing process requires the development of various intelligent manufacturing systems, automated or intelligent production lines, and the construction of digital workshops, digital factories and digital enterprises. The intelligentization of equipment requires enterprises to increase investment in scientific and technological research and development and technological innovation, and improve the production capacity and production matching degree of production equipment. The key technical problems to be overcome in the next few years in the intelligent manufacturing of fasteners include: automatic intelligent cold heading precision forming technology, cold heading machine technology and equipment for large-scale fasteners, precision forming technology for complex shape fasteners, automated logistics equipment and Automated heat treatment production line, etc.

② Fusion Fusion is the cross fusion of multiple disciplines and the compounding of various techniques, which is the trend of the new era. The integration of machinery manufacturing technology, information technology and various high-tech, machinery and materials, technology and culture will continuously inject new vitality into the development of fasteners. The application of fusion technology will produce new fastening components, manufacturing processes, processing equipment and systems, greatly enrich the product system of fasteners, and expand the functions of products.

In addition, process compounding and integrated innovation are particularly worth mentioning in convergent manufacturing. Process compounding means that the original multiple processes and processes are compounded and integrated into one equipment, which greatly reduces the process links and site occupation, improves work efficiency, and thus improves product quality. Integrated innovation is an innovative activity that transforms various fusions into scientific and technological achievements and into productivity. It is an important way of integrated manufacturing and the main type of current fastener technology innovation.

③Supernormalization: With the expansion of people's living space and the rapid development of technology, the requirements for fasteners are getting higher and higher, and they are used in conditions such as extremely large, extremely small, ultra-high temperature, ultra-low temperature, ultra-high speed, and ultra-low speed. The demand for fasteners is increasing, and the process technology for manufacturing these fasteners is very different from ordinary fasteners. Supernormal manufacturing includes two meanings: one is to manufacture fastener products used in supernormal situations; the other is to produce the process and technology of these fastener products. In the future, ultra-precision manufacturing, ultra-high-performance product manufacturing and super-normal forming technology will be a symbol of the level of fastener manufacturing, and will also become the focus of research and development for high-end fastener manufacturers.