High-end Fastener Market Value in China to Reach RMB59 Billion in 2019

     Fastener production in China has been growing steadily in recent years. In 2014 the total production was 7.2 million tons and grew to 7.28 million tons in 2015, 7.42 million tons in 2016, 7.47 million tons in 2017 and 7.6 million tons in 2018.

     The momentum in the automotive, high speed rail and aerospace industries brought a steady growth to a total production value of RMB 85.6 billion (up 6.4%) in the general components industry in the first quarter of 2018. The automotive industry export increased by 8.3%. The total fastener export value was USD 5.896 billion and the export volume was 3.68 million tons. This year, the total fastener market value in China will reach RMB 138 billion.

     The high-end fastener market value in China will continue to rise with the rapid growth of the aerospace, satellite, rail, marine engineering, nuclear power, wind power and automotive industries. This market will reach an annual market value of RMB 59 billion in China this year.