Freedonia In The News
Article Title: DEMAND FOR INDUSTRIAL FASTENERS IN CHINA TO EXCEED 74.2 BILLION YUAN IN 2013
Publication: Fastener News Now, 9/10/2009
Freedonia Study: Industrial Fasteners in China (2531)
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Demand for industrial fasteners in China is projected to increase 10.7 percent annually to 74.2 billion yuan in 2013, driven by rapid growth in manufacturing production, especially industrial machinery and motor vehicles. Increases in electrical and electronic product manufacturing will also provide growth opportunities, although these gains will be less pronounced than those achieved between 1998 and 2008. A rise in demand for higher-grade industrial fasteners will also boost overall market value. However, the use of new materials and manufacturing methods that reduce the number of fasteners required in the production of a variety of durable goods will restrain sales growth to some extent through 2013. These and other trends are presented in Fasteners in China, a new study from the Beijing office of The Freedonia Group, Inc., a Cleveland-based industry research firm.
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