Insight

A review and preview of the global fastener market

Named after the Roman god who is often depicted as having two faces – due to its ability to look to the future and to the past – the Janus Perspective is a unique feature that includes a wide cross section of global fastener business leaders, who have all contributed their retrospective of 2019 and thoughts on prospects and challenges for 2020.

Jorge Càmara, export manager

Changing climate policies, as well as economic and political tensions, have marked 2019 worldwide and have created a general uncertainty that has resulted in lots of noise in the global economy and fear for big investments. This has been a general trend, but ever more so in all sorts of industries.

As a result, and at Chavesbao we have been no exception, fastening and fixing producers and distributors have faced an increasing need for supplying sound and solid services and for becoming global providers for the needs of their customers.

In recent years, environmental concerns and new regulations on greenhouse gas emissions have driven industrial companies to adapt both their production processes, seek efficiency, and develop new products that comply with this new standards. At Chavesbao we are well aware of this trend and we have been adapting our products in search of more advanced and complex products – which are able to meet these new and shifting needs.

Recent events such as trade wars between China and the USA; the shadow of a trade war between the US and the European Union; or the still unresolved conditions on which BREXIT will finally take place; mark also uncertainty in the production demands on all sorts of markets. This means that companies must be prepared, now more than ever, to respond quickly to customers’ orders, and fasteners are no exception to this.

As a result, accurate technology process adaptations will be a must for fastener companies in the near future, so that we can provide reliable products at very short notice. Innovation and creativity will also have to be placed at the core of business processes – so we can supply the non-standard and evolved parts that customers will be demanding. All this must be accompanied by changes in our own premises, because only smart premises will allow changes in those production processes that will really place customers at the core of them.

For 2020, digital transformation will also certainly be a challenge for all industries, fastener services included. However, we cannot forget that technologies will only serve a purpose if there are people placed behind them. Digital transformation is not only about technology, it is also about adapting working methods to make the most of it. At Chavesbao we are well aware that this will be the real challenge in the coming years and is one that will allow us to supply the service and immediate stock availability that customers are demanding, and to do so in an efficient way.

At Chavesbao we have big ideas regarding these matters, even when taking into account that we are facing a new stage in our business with Managing Director Mr Carlos del Río retiring during 2020. However, not without first leaving his compass, guidelines, and legacy, for strategies in developing our company. Thanks a lot, Master!