Industry News

The release provides limited information about the report’s contents but does include a pie chart showing distribution of demand by major markets. According to Freedonia aerospace fasteners accounted for around 11% of western Europe demand but the proportion was higher for France and the UK.

The report values global fastener demand at US$69.6 billion (€65.7 billion) in 2015. China, the USA, Japan, Germany and Taiwan accounted for two thirds of global output of fasteners in 2015. 

The report projects that the Asia Pacific region will continue to account for the largest share of world fastener sales in 2020, representing 42% of the total at that time. The report summary also notes an expectation that industrialisation development will stimulate strong fastener growth in Africa and the Middle East, although the region will remain a small share of the total. Growth of fastener sales in North America and western Europe will advance more slowly than the global average, limited by the maturity of most fastener markets in these regions. Demand for fasteners in Central and South America is forecast to return to growth by 2020.

Automotive demand is expected to account for 28% of total global demand by 2020. Aerospace is expected to record the fastest growth between 2015 and 2020.