China is the biggest fastener manufacturer in the world. In the recent years, the output of the fasteners in China is increasing rapidly. According to The Report of the 2022-2026 China Fastener Development Situation And Prospect, pubblished New Thinking  Industrial Research Center, output of the metal fasteners in China increased from67850,00 tons in 2017 to 7931000 tons in 2001. The compound annual growth rate reaches 3.17%. Fastener development is closely connected with other industries, such as machinery, equipment, transportation, architecture, etc.  Benefited from the intelligent upgrading of industrial manufacturing and wind power, photovoltaic, New Energy and other emerging industries continuing emerge, the value of the domestic fastener reaches CNY145.87 billion.

The upstream of fastener industry chain is steel, non-ferrous metal, composite materials and other raw materials suppliers; Middle stream is Jinyi industry, WUERTE, Zhejiang Dongming, totally 7412 factories.rs; Downstream is  automotive, railway, mechanical, electronic and electrical, aerospace and other applications. At present, our country has become the world’s largest automobile, home appliances and other consumer markets, whic is the main driving force for the development of the fastener industry.

Continuous optimization of product structure is one of the main trends of fastener industry in the future.  The development of high-end equipment manufacturing industries such as aerospace, satellite navigation and new energy vehicles has driven the increasing market demand for high-performance, high-strength and high-value-added fasteners. In the future, domestic fastener enterprises need to constantly accumulate technology and update equipment, and then improve product quality, optimize product performance, promote the domestic IT industry precision screws, self-locking fasteners, titanium alloy, aluminum alloy fasteners, automotive fasteners and other high-end fasteners.

Industry analysts say that industrial clustering is another trend in the development of the domestic fastener industry in the future. After the development of the domestic fastener industry in recent years, a number of industry clusters have been formed, for example, in 2020,116 fastener enterprises engaged in manufacturing and supporting services were transferred from the Bay Area cities to the Guangdong Yangjiang Industrial Park . In 2021,  Smart Port Industrial Park has been completed and is positioned as a digital industry cluster center for fasteners in southern Zhejiang and northern Fujian. The development of fastener industry cluster plays an important role in the optimization of resource allocation, product structure and production technology.