With the rebound in motor vehicle production, as well as increasing demand of aerospace, Fredonia Industrial Fastener Group forecasts USA¡¯s demand for industrial fasteners will increase by 3% yearly ,reaching 12.9 billion US dollars in 2011.
¡°The output of many other durable goods will increase to bring fastener suppliers more business opportunities ¡°, Fredonia pointed out in its 262 page-long research report. ¡° However, the overall market growth will be restricted to a certain extent: on the one hand, it is due to the competition from adhesives and other alternative connection technology; on the other hand, the resident housing construction has eased.¡±
Fredonia is a researching company, headquartered in Cleveland, Ohio. Its report points out that as a result of fierce competitions between various types of fasteners and optional connecting technology, as well as the decline in raw material price, increase in fastener price is strongly restricted.
The sales volume of Aerospace-level product increases rapidly by 8.2% yearly and is expected to reach 2.51 billion US dollars by 2011.The annual increase rate of standard fastener will decline by 2% and the sales volume is expected to be 10.39 billion US dollars. The rapid increasing output of Aerospace equipment will stimulate the demand of aerospace fasteners.
¡°However, the material of fuselage will be composite materials taking the place of aluminum, which could impede the pace of growth." Fredonia said.
According to market forecasts, the annual growth rate of OEM fasteners is 2.9% and its demand will reach9.8 billion US dollars by 2011, while the annual growth rate of MRO fastener consumption will be 3.6%, with its demand reaching 2.555 billion yuan by 2011. The annual growth rate of construction fasteners will be 3.2% with its demand reaching 550 million US dollars by 2011.
