Exclusive Scoop on Industry Leading Trade Squad of Japanese Fastener Trader
2 Million Items Available.
Purchase Any Fasteners You Want!
Sunco Industries prides itself as a Japanese fastener trader with top-notch sales capabilities and enjoys a high reputation in Japan. It has one of Japan's best and large-scale high-tech fastener logistics centers, with an inventory housing 2 million items— any fasteners ranging from those for aircraft to eyeglasses, all in one place. Japan is known for its thoughtful service, and that’s also true with the English "3QNet" website created by Sunco Industries, which features online product search and sales management tools, allowing customers to quickly search from 2 million products. You can even purchase a single screw! Sunco Industries President, Mr. Yoshihide Okuyama, made a bold statement to bring Japanese JIS and metric screws to every corner of the world, opening a way for Sunco Industries to take a leap to the world.
Japan’s Top Fastener Trade Squad
Sunco Industries is one of the biggest players in Japan that knows best about fastener trade. They formed a supplier league of 1,200 companies. Internally, they built their own Sunco Squad which includes managers and supervisors with high marketing creativity, a sales force of 250 people, and 800 employees. This cover story features a special interview with President Okuyama as well as the managements at multiple levels. It is divided into several topics to unravel Sunco Industries’ winning strategy through the eyes of the Sunco Squad.
Export Target — Demand for Fasteners Used in Japanese End Products Breakthrough — Launch of “BARA” Service
From President Okuyama's perspective, the Japanese fastener market has reached a peak (the upper limit) because the domestic industries are cutting down workforce (people who fasten up end products with fasteners) and personnel expenses, resulting in decreased use of fasteners. But he doesn’t think fastener demand will disappear or be replaced because fasteners are still a stable business.
Sunco Industries' large logistics center in Higashi Osaka
Left to right: Tomokazu Takada (Assistant Manager of Purchasing Dept. of Intl. Trade), President Yoshihide Okuyama, Tatsuji Sakamoto (Overseas Promotion Captain), Miki Hiraoka (Purchasing Dept. Manager)
President Okuyama: “ Our export targets overseas users who use Japanese end products. Many companies are using Japanese machine tools, semiconductor manufacturing equipment, ships, automobiles, motorcycles, trains, elevators, and logistics equipment. These end products require small quantities of JIS and metric fasteners for maintenance, but these fasteners are not easy to find overseas. I think Sunco Industries as a supply source will definitely provide overseas fastener sellers with the most benefits.”
"So three years ago we started to branch out into export. We introduced 3Q Net and our dedicated English official website (https://www.jisscrew.com). The former specializes in providing customers with product search, sales management, and demand forecasting to improve customers' business efficiency. The latter discloses pamphlets of product features, our company introduction and press releases, and it has been well received since its launch and inquiries now keep coming in.”
“Our biggest breakthrough in recent years was the launch of 'BARA (minimum order quantity)' service. We can ship any number of screws you wish, even just a single screw. We have increasing customers using this service to reduce the risk of excess stock. Our business milestone is the establishment of a logistics center that supports our 'BARA' small-quantity shipping technology. Many overseas companies visit us to see our logistics technology.”
Another major breakthrough for Sunco Industries as a screw company is rolling out the English "Socket Boy" Magazine. You read that right, President Okuyama has stepped into the publishing world with his own editorial staff to introduce Sunco Industries' business activities and Japanese local culture. The president continues to add circulation for more people around the world to know his company. This July, he launched the “Screw Titan” TV commercial where he took a part in person. In this commercial, Japanese former professional baseball player Yuki Saito, an invited guest actor, watches President Okuyama morphing high up in mid-air into Screw Titan— as tall as Taipei 101 skyscraper— from tens of thousands of screws. The commercial is intended to attract the young generation of Japan to join this company of titans.
Introducing Overseas Brand Ambassador — Socket Boy
The Japanese are experts in mascot marketing. To catch the eyes of global customers, Sunco Industries brings its original mascot "Socket Boy" to overseas exhibitions. The president said the concept was born from exhibitions. To increase global awareness of screws, the creator put a hexagonal-socket-screw hat and a special kimono jacket on Socket Boy to promote JIS and metric screws. Fastener World had a special interview with Tatsuji Sakamoto, one of the guys behind Screw Boy, for a behindthe-scenes story of the mascot.
Socket Boys and Socket Boy Magazine
Tatsuji Sakamoto (Socket Boy): “In 2023, I was chosen along with other colleagues as the visiting observers to Fastener Fair Global in Germany. It was then that I thought of the need to create Socket Boy to boost overseas popularity. While the other observers were in black suits, I wanted to create variations even if it was just one person to look different, so I put on a traditional festival kimono with screws painted on it and put on an exaggerated pose to catch their eyes and show them that I'm from Japan. That was the birth of Socket Boy. To let European and American customers feel close to Socket Boy, I made this mascot a naughty and adorable little boy who loves to eat. Now, I’ve been chosen as the captain of overseas promotional activities. I hope the whole world will fall in love with Socket Boy.”
As the captain, Tatsuji Sakamoto said: "In the past, Japanese customers would buy fasteners in unit of pallets or boxes and then electroplate and manage the fasteners by themselves. We noticed this and launched sales of box-packaged fasteners (with or without electroplating) to save the hassles for customers. Finally, we evolved into supporting sales of a single screw. In other words, our advantage is to change the weakness in distribution channels into our weapon, and from there we successfully transformed into Japan’ s largest fastener trader.”
Sunco Industries’ Strengths in the Eyes of the Management
Kouzou Yamaguchi (Head of Logistics): “We never say 'no' to customers.”
Strengthening Strategic Partnerships with Taiwanese Suppliers
Tatsuaki Houya (Head of Tokyo Branch): "There’s great vibe among our employees who are devoted to fastener logistics.”
Miki Hiraoka (Purchasing Dept. Manager): “We continue to evolve every day and aim to become the best sidekick to benefit our customers.”
President Okuyama exclusively revealed to Fastener World that he is strongly seeking collaboration with Taiwanese suppliers: "Due to the current geopolitics, many countries are diversifying and reorganizing their supply chains. We stay true to our roots and stock products that our customers want and deliver them when needed. To that end, we look into our relationships with Taiwanese suppliers and hope to strengthen collaboration with them to cope with supply chain risks. We have a large 90-people purchasing unit, each of whom is responsible for a specific product, and their daily work includes consultation with customers, registering new products, and inventory. We’ve had specific personnel to interact with overseas suppliers, but from now on, the entire purchasing unit will build better relationships with Our distinction is no participation in the markets that other overseas traders have tapped into. We stock products urgently needed by customers who cannot obtain them at the moment. We build a problemsolving system for customers, which requires collaboration and information exchange among suppliers from Taiwan as well as other
Tomokazu Takada (Assistant Manager of Purchasing Dept. of Intl. Trade): “We will continue to do things that our customers will appreciate from the bottom of their hearts.”
From “Japanese” to "International” Sunco Industries
Sunco Industries is running a new campaign globally, offering free shipping on all international shipments until the end of November, 2024. This time, special gifts will be offered to customers who purchase through "3QNet". This campaign had been launched early last year and was wellacclaimed. President Okuyama hopes customers around the world will experience the convenience in purchasing Japanese products and know these products are not as expensive and far away as they imagined.
The President said: "Some of our customers have changed their businesses to specialize in JIS and metric screws. It means that Sunco Industries’ sales increase has led to the expansion of customers' businesses. This convinces me that the mission statement of 'bringing Japanese JIS and metric screws to the world' is our road to success. No doubt we will provide a friendly platform so that sellers seeking JIS and metric screws will find and purchase them with ease. The ‘Japanese’ Sunco Industries is going ‘international ’ . ” Sunco Industries’ contact: Tomokazu Takada, Assistant Manager of Purchasing Dept. of Intl. Trade Email: export@sunco.co.jp
Copyright owned by Fastener World / Article by Dean Tseng
KATSUHANA FASTENERS CORP.
EditorialTaiwan’s Competitiveness Major Competitors Around?
Years ago when the EU levied AD duties on Chinese fasteners, Taiwan's fastener exports once appeared a unprecedented boom and climbed to a new peak with its annual export reaching more than 1.6 million tons. However, with the end of Covid, excessive inventory resulting from the still stagnant order intake of overseas customers, and the influence of increasing manufacturing costs and unstable geopolitical risk, the performance of Taiwan's fastener exports has not reached new highs for quite some time in recent years. In addition, the rise of competitors in China and emerging markets, the possible impact of the future taxation of CBAM, the atmosphere of greater emphasis on the development of IT industries in Taiwan, and the strong requirement from customers to ask Chinese or Taiwanese suppliers to set up overseas factories have put multiple pressures on the operations of many Taiwanese companies. With such a big change in the market, how to continue to show vigorous vitality in the global fastener supply chain has been a priority for anyone in the upstream, midstream and downstream fastener supply chain in Taiwan, known for years as the “Kingdom of Fasteners” to work together to face and find ways to solve.
Signs of Bottoming Out Have Appeared and Recovery May Come Next Year
As views on the economic performance differ and there exist many fastener categories featuring different supply and demand and the ecology of manufacturers also varies, it is basically impossible for us to make a comprehensive judgment. Judging from the actual export data in the first 9 months of this year, Taiwan exported a total of about 936,000 tons of fasteners, which was not much different from the 934,000 tons record in the same period last year. A slight increase even occurred when low-priced wire rods from China and other countries were dumped overseas, which may also be a sign that the economy has bottomed out and is ready to rebound. Following this trend, the export forecast for the whole year of 2024 can still reach a level of 1.2 million tons, so you may not need to be too pessimistic. If the tension in the Russia-Ukraine war could ease next year and the central banks of major countries again adopt interest rate cuts and quantitative easing policies to stimulate economic growth, the global economy may usher in a new wave of recovery.
Taiwan's fasteners have a high degree of adhesion with the European industry, so the market is easily affected by any disturbance. The current sluggish European economy may
be attributed to hasty zero-carbon policies. European car manufacturers were forced to develop electric vehicles, but they did not expect that before the technology and quality had taken a firm foothold, the more competitive Chinese electric cars had taken over the majority of the market share, disrupting the existing supply chain. In addition, Germany, the largest automobile manufacturer in Europe, is also facing higher energy costs due to the impact of the RussiaUkraine war, which has led to a significant reduction in demand for fasteners due to sluggish industrial production. Germany is also an important partner for Taiwan's fastener exports, which indirectly affects Taiwanese companies' orders. There are always cycles of economic fluctuations, and it is estimated that the current stagnation in demand is a short-term phenomenon. The industry has always developed based on the principle of survival of the fittest and elimination of the unfit, so competitive players will definitely find a way to survive. As the saying goes, "wealth can be gained through risk". As long as we can stabilize our position in the crisis and strengthen our competitiveness, I believe we can definitely get through the difficult times.
EU Carbon Tax May Push up Fastener Prices
As January 1, 2026, the time for the EU CBAM to formally impose carbon taxes is approaching, manufacturers in various countries should have already felt the pressure from European importers. Fortunately, Taiwanese fastener manufacturers currently still have an advantage over other Asian counterparts in carbon reduction in the eyes of European customers, even EFDA president stated in an exclusive interview with Fastener World that Taiwanese fastener manufacturers are indeed ahead of the curve in the CBAM declaration process, which is definitely an important bargaining chip for Taiwanese companies to continue to expand sales in the European market in the future. In this issue of magazine, our contributing author Dr. Wayne Sung also specially sorted out the timetable, target objects and calculation formulas for Taiwan's next carbon fee collection, hoping to help readers understand the future EU carbon fee and Taiwan's domestic carbon fee system, which is also something that should be paid attention to after implementation. CBAM is undoubtedly a critical measure that may change the ecology of the world's major carbonemitting industries (inclusive of the fastener industry). The serious attitude shown by EU officials and local EU importers also shows that this is the general trend in the future.
What currently worries the industry is that, in order to achieve the net-zero carbon reduction target required by the EU, the related manufacturing costs of the fastener industry (including carbon taxes, raw materials, electricity fees, etc.) may have to increase by another 20-30%, further pushing up fastener prices. Whether this is a good or bad thing for fastener end users is still open to question. Is the formal implementation schedule likely to be delayed? Can the carbon tax be flexibly adjusted according to different product types or import quantities? Perhaps these are all aspects that the EU and relevant departments in various countries will need to consider comprehensively when discussing policy implementation in the future.
Helping Businesses Find Opportunities, Fastener World Organizes Vietnamese Market Inspection and Japanese Companies Visiting Groups
Compared with the IT industry that has received excessive attention from Taiwanese officials and media in recent years, Taiwan fastener industry can be said to be in a less favorable development environment. Not only there is a shortage of labor and land, greatly increasing operating costs, it is also quite difficult for them to obtain more competitively priced wires in Taiwan. In terms of preferential import taxes, Taiwan does not enjoy preferential or zero tariffs like ASEAN countries do. Whilst many conditions remain inferior to others, some manufacturers have chosen to go overseas. Overseas investment may have little impact on large factories with ample capital, and their factories set up for export can also serve the local markets. For SMEs, it is not so easy. They may have to consider setting up overseas branches for procurement or warehouses in Vietnam, Thailand, the Philippines, etc. or seeking cooperation with local factories.
Seeing that the industry is facing huge pressure from "setting overseas factories" from European and U.S. customers and shrinking orders, this year Fastener World has successively organized the Vietnamese Market Inspection Group in August, the Vietnam Investment Session in October, and the Japanese Companies Visiting Group jointly organized by SUNCO, the largest fastener distributor in Japan in November, hoping to help domestic companies find more investment and development opportunities with the goal of sustainable management through the experience of inspecting local industrial zones, enterprises and Taiwanese counterparts. We also hope, that through these visits, we can introduce more competitive Taiwanese manufacturers to overseas customers and facilitate their cooperation.
In the future, Fastener World also sincerely welcomes large-scale high-quality importers from other countries interested in purchasing Taiwanese fasteners to proactively contact us. We are very happy to serve as a communication platform for cooperation between importers and Taiwanese industry players.
Thanks to NFDA, EFDA, EIFI, TFTA and HKSFC Presidents and Chairmen for Accepting Our Interview
Fastener World has always maintained open communication with fastener associations around the world. This time, we are honored to invite U.S. NFDA President Scott McDaniel, European EFDA President Andreas Bertaggia and EIFI President Paolo Pozzi, Taiwan’s TFTA Chairman Arthur Chiang and HKSFC chairman Tsui Ping Fai to participate in our interview and share with readers their observation and outlook on the supply chain, CBAM, and new industry trend challenges and opportunities faced by the fastener industry in various countries. We’d also like to thank Bossard, a major Swiss fastener distributor, for sharing its valuable experience on how to continue to maintain stable growth in a market full of competition and changes, which will definitely give our readers more inspiration in the upcoming 2025. Fastener World also welcomes more associations and leading manufacturers to join our future interviews. Through such a platform they can communicate more closely with industry partners.
Competitiveness Prevails as More Challenges Appear
In terms of the development of the fastener industry, Taiwan may have started faster than China and other Southeast Asian countries. However, with the rapid development of these countries in recent years, Taiwanese industry players can no longer take it lightly in the past, because these countries are very likely to become major players in both competition and cooperation with Taiwan in the global market. In addition, in the past 30 years, some Taiwanese businesses have gone to Vietnam and other Southeast Asian countries to set up factories and have grown bigger and bigger. Even Chinese businesses have begun to go to Southeast Asian countries to invest and set up factories in search of opportunities. Taiwanese businesses will only face more and more competition in the future. Of course, if companies choose to invest in setting up factories overseas, they must also pay special attention to understanding and complying with local regulations and conducting pre-assessments, so as not to break the law (for example, Vietnam has very strict environmental protection regulations). However, industry players need not be deterred by this. Although everything is difficult at the beginning, as long as they have the ability to find their own positioning and competitiveness, they can still survive in any market.
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Fastener World / Article by Gang Hao Chang, Vice Editor-in-Chief
Interview with
EFDA President Andreas Bertaggia
In 2023, most of the fasteners imported by European fastener distributors came from “China, Taiwan, Turkey, India, and Vietnam”, and the estimate for this year should be also similar. Based on your knowledge, what are the main industrial applications that are currently generating most of the demand for fasteners in Europe? Do you think there are any special considerations that European buyers should be aware of when purchasing fasteners from these sources?
There are individual market segments where we are seeing developments for demand. We cannot comment on individual applications though. For example, in the automotive industry, regardless of the current gap in demand, there is a clear trend, in the long run, away from combustion engines and towards electric vehicles with different applications and rather fewer products. In the aerospace sector, there is a growing demand for fasteners as aircrafts are increasingly being replaced by newer models due to ever-changing legal requirements. Generally speaking, custommade parts will continue to be very important. The importance of the European Green Deal towards an emission free and sustainable Europe with all affected industries such as public transportation with the corresponding infrastructure, to the energy sector and construction segment are most probably areas to focus on. But developments in the field of digitisation and artificial intelligence also require an infrastructure that needs to be continuously expanded. This also includes the growing area of semiconductor manufacturing. Beside that the pharmaceutical/biotec/medical segment is a further field where a lot of investments and innovation is happening and great field of potential for our business.
RegardlessDo you have any suggestions for these suppliers' products and services to make the cooperation closer and smoother? And what other fastener applications do you think these suppliers could also strengthen their production?
of the type of products, it is essential for a successful partnership that the fastener suppliers listen to their customers' requirements, especially in the regulatory area. This is especially true for distributors in Europe, where supply chain regulation and the importance of ESG are becoming increasingly important.
These laws require European companies to be fully compliant and to collect relevant data and evidence from their suppliers. If some suppliers do not cooperate, European fastener distributors will in future source their goods from those suppliers that enable them to comply with EU laws. In this respect, if suppliers outside the EU want to remain competitive, they must provide their European customers not only with the goods but also with the necessary data and evidence. Taiwan, for example, is already on the right track here and is further ahead than many other countries.
We are also already dealing with the effects of the European Union's Carbon Border Adjustment Mechanism (CBAM). We are still in the so-called transition period until the end of 2025, during which EU importers do not yet
have to make payments for the CO2 emissions associated with the imported goods. This will not be the case until 2026. Nevertheless, EU importers of fasteners need the specific emissions data from their suppliers so that they can report them to the EU Commission. EU importers are therefore already looking very carefully at which suppliers provide them with the specific emission values and which do not. If it is not recognisable that the emission values are being supplied, many will have to look for new suppliers who do. This is already important to meet the requirements of CBAM as an EU importer. And from 2026, it will have a direct impact on the costs of imported fasteners, whether or not the supplier can provide the specific emissions data. If there are no specific emissions values, the EU importer will have to use the EU Commission's expected very high default values and make the payments for them. For this reason, CBAM has a significant impact on the competitiveness of a supplier and even entire exporting countries.
But there is also the topic of anti-dumping duties. In the case of anti-dumping duties on the import of iron and steel fasteners originating in the People's Republic of China, the risk of unwanted circumvention must be eliminated. This applies to the transshipment of goods via third countries as well as to the circumvention of the 86.5% duty by applying the reduced duty of 39.6% to goods from manufacturers to whom this reduced duty does not apply. EU importers must be sure and confident that they can act lawfully.
At present, the situations in certain regions around the world are still unpredictable, and the issue of “requiring suppliers to have extra factories overseas” arising from geopolitical factors has been particularly the talk of the town in the past few months. To your knowledge, have you heard about this request from European companies or association members? What do you think about this issue? We see that some Taiwanese and Chinese fastener manufacturers have recently set up or are considering setting up overseas factories in Vietnam, Thailand or other emerging countries, do you think this will give them an advantage in cooperating with European customers in the future? What advice do you have for them?
Yes,
the situations in certain regions of the world are unfortunately truly unpredictable. As early as 2021, I warned that fastener distributors need to diversify their sources of supply for risk management reasons. The reason for this lies in geopolitical associations, Russia's war of aggression against Ukraine, but also in the experiences during the pandemic, when international supply chains collapsed and sometimes one region and sometimes another in the world was more severely affected. The world is more multipolar than ever before, and depending on how individual countries and regions are affected by certain problems, they may no longer be considered as a source for the procurement of fasteners, or at least to a lesser extent. For this reason, it can be helpful if a manufacturer has a second base in another country from which it can reliably supply customers in Europe with fasteners.
Of course, a variety of factors play a role in a company's decision to take this step. One important factor is certainly that the goods - which, of course, continue to be of good quality at a good price - reach Europe safely and on time. Then, as I mentioned above, it is important from a European perspective that suppliers are able to provide their customers in Europe with the data and documentation they need to fulfil the EU's legal requirements. The mindset must be right here. Ultimately, however, it depends on how large the manufacturer's volume of sales to Europe is. If the EU market plays a certain role, the criteria mentioned should be taken into account.
Q4
As CBAM has entered the actual data reporting stage, could you please share with us whether there are any updates or special attention to be paid to the content and implementation schedule of CBAM from the EU?
We are doing everything possible within the EFDA to support our members in getting the data they need from their suppliers worldwide. And we know that our member companies are going to great lengths to meet their obligations. This includes hiring staff and acquiring additional software. However, we ourselves know how incredibly complex and sometimes impractical CBAM is. This is another reason why it is clear that smaller manufacturers in particular in many exporting countries have not yet managed to comply with the requirements of CBAM. Another problem is that EU importers often do not purchase the fasteners from the manufacturers themselves, but from intermediaries, who in turn have the problem of obtaining the manufacturers' data and disclosing confidential data to their customers in the EU. All of this means that the number of suppliers providing specific emission values is around 12 per cent. To help suppliers provide the required CBAM data, EFDA has just revised its EFDA template and added a CBAM calculator. The calculator helps suppliers outside the EU to automatically calculate the specific emission data in the template. We have also developed an EFDA Guide for non-EU suppliers of fasteners, which contains important information on the implementation of CBAM and the use of the EFDA template. In addition, we also provide a tutorial that shows how to complete the template. We hope that this information will improve the response rate of CBAM data.
Q5
Which countries/regions do you think are currently more compliant with the European buyers' requirements in the CBAM reporting for fastener manufacturers? Why?
As far as the cooperation of CBAM data with EU importers is concerned, our findings show that there are still major differences between suppliers, even within an exporting country. There are companies that are well prepared and provide specific emissions data. Some of them have certainly taken the help of consulting firms. And there are companies for which CBAM still seems to be a foreign concept. However, it turns out that suppliers from Taiwan are more advanced in international comparison. In the People's Republic of China, it is reported that it is difficult for manufacturers to obtain emissions data from their suppliers of intermediate products.
Q7
What quarterly meetings and events has EFDA have planned for the new year?
EFDA has set up a CBAM Working Group that meets regularly to develop products and assessments on CBAM that help our companies in Europe, but also their suppliers, to deal with CBAM.
We also have a Task Force that deals with issues related to CBAM and other topics such as anti-dumping duties and meets regularly.
The big event next year, however, will be the European Fastener Distribution Conference 2025, which will take place in Brussels in the autumn. All companies that are members of EFDA or one of its national member associations are invited to the three-year conference, as well as our partner associations in Asia and the USA and other guests from business and politics. We are, of course, already looking forward to welcoming our partners from Taiwan.
Q9
Q6
Is there any part of the CBAM reporting that Taiwanese suppliers need to improve further?
There are no specific points that don't work overall. The big challenge in Taiwan, in particular, is integrating the data from companies to which individual manufacturing processes have been outsourced into the calculations. This is what makes it so incredibly challenging for the many parties involved.
Q8
Have you achieved any goals or accomplishments (including international exchanges) since you took over the presidency?
Iampleased that EFDA's role as a stakeholder and service provider for its members continues to grow. This is also caused by the fact that the legal requirements for our industry have increased significantly in recent years. EFDA helps European fastener distributors to stay informed at an early stage and works with industry experts to provide them with the necessary tools to cope with the legal requirements. All in all, I can say that EFDA membership has become almost indispensable in our industry. We also see this in the increase in member companies.
However, EFDA's success is also due to the excellent cooperation within the members in our committees. The open exchange on important topics with joint results that serve everyone in the industry pays off. I am very grateful for this.
What are your expectations for the global fastener industry in 2025?
Regarding the actual geopolitical circumstances with all unpredictable and uncertain environment combined with some important political elections, I am assuming that there will be not much economically impulse towards more growth in the short term. In any case, I hope we can maintain the actual economical situation with slight improvements and not the opposite of worsening demand on the world markets before mid-2025.
I do think it possible that the economy will start to pick up again from the third quarter of 2025 onwards. However, this revival should not be hindered by further bureaucracy and regulation. The current bureaucratic hurdles are too high and too complex and represent an incredible burden for our industry. So here, too, the legislator can make a difference.
Copyright owned by Fastener World Interviewer: Gang Hao Chang, Vice Editor-in-Chief
Interview with
EIFI President Paolo Pozzi
Q3
Q1
Can you please tell us about the performance of the European fastener manufacturing industry so far this year?
Due to the weak industrial market and the challenges of the European automotive industry, most of the European fastener manufacturers are expecting a drop between 5% and 10% in volume with a consequential reduction of profitability. High interest rates are also impacting companies and reduced investments.
Q2
Are there any major challenges facing the fastener manufacturing industry in Europe this year? The main challenges are the weakness of European and NA automotive markets and the related non materialized EV business. Many fastener manufacturers invested in new dedicated equipments for new projects that are cancelled, postponed or reduced in volume. The critical geopolitical situation is also another challenge that can reduce industrial demand and create disruptions in the supply chain. The only good news will come from the reduction of the interest rates that will help to partially reduce financial costs.
In the face of unavoidable global competition, what do you think European fastener manufacturers can do to demonstrate their competitiveness and what are still the strengths of European fastener manufacturers?
Whenwe compare ourselves with countries that operate under equal conditions and rules, I believe the European fastener manufacturers are strong and competitive, but unfortunately we know that sometimes this does not happen. I think that if Europe still represents the world's leading fastener market, it is thanks to European producers but also to the supply chain that over the years has been able to follow the evolution of the market, guaranteeing producers supplies with a high level of service and quality at competitive conditions. Let's not forget that the competitiveness and expertise of European fastener producers has allowed them to build global champions who have been able to invest successfully in other areas of the world.
The future dangers are partly known and partly new. The known ones are the asymmetries with respect to the WTO rules that then lead to the imposition of import duties to rebalance the system, the new ones come from the different speed and methods with which the various regions of the world are addressing the issue of sustainability. This problem primarily concerns the environmental issue with the first test being the application of the CBAM (Carbon Border Adjustment Mechanism), but in reality, it more widely concerns all choices relating to ESG issues that each country applies in different ways.
Are there regional differences in fastener production and sales performance between Western, Central / Eastern and Southern Europe? What factors do you think have led to these results?
Main market are Germany, Italy, France and Spain and due to the evolution of labor costs probably Germany and France are suffering more. Q4
Looking ahead, what are your observations on the current demand for fasteners in the European market?
We observe a sharp declining demand for fasteners in the second half of 2024 due to low European vehicle production. The uncertainty about the Fit for 55 review is not helping, the European Commission should rediscuss as soon as possible the targets for 2025 and 2030 and decide what to do with the ban for 2035 in order to give a clear view to consumers and manufacturers. Industrial markets are also suffering the low GDP growth in 2024 and 2025 and paying the high stock levels built up in 2022 and 2023.
EIFI
What quarterly meetings and events has EIFI planned for the new year?
yearly most important event is the General Assembly. 2025 edition will be hosted by our Spanish Member Association ASEFI - Asociación de Fabricantes de Elementos de Fijación Metálicos - and will be held in Seville from 8 to 10 May. The city in those days will also host the “April Fair”, a yearly popular festivity of international interest that will allow our Members and Guests to experience the real colorful and joyful Spanish atmosphere and tradition.
Invitation will be extended, as usual, to the worldwide Fasteners Associations and we will keep the new format proposed this year in Florence with a first part of the full-day Assembly dedicated to the fastener market and its supply-chain outlooks and provisions and a second part with a Round Table of international Speakers focusing on global themes impacting on people and business such as Geopolitics, Finance, ESG, Talents, Artificial intelligence and so on.
* Production 2024: - 7% vs 2023
** Figures Jan-Aug 2024, divided by 8 and multiplied by 12 (Source: Eurostat)
Q7
The EIFI 2025 work calendar is much busy, and on top of the bimonthly meetings of the Board, both the three Market Groups (and related ad-hoc sub-Groups) and the three Operational Committees will keep working on many activities, services, and projects – and will strive to develop new ones – for the benefit of the Members and in general of the European Fasteners Community.
Have you achieved any goals or accomplishments (including international exchanges) since you took over the presidency?
My presidency started in May 2023 when a big restructuring of the Institute was accomplished by past President Anders Karlsson and his Task Force of National Members Associations’ Presidents, after one and a half year of work. EIFI has today a new Statute, new Member Categories (Affiliated and Associated Members), new Market Groups and new Operating Committees and while its general functioning is therefore much straightened, its voice is even more representative throughout the European Institutions and International Bodies.
During my first 17 months mandate I focused on networking inside and outside the Institute, being cohesion and sharing the principles on which - by nature - all Associations are based on. The deepening of mutual knowledge, the establishment of strong professional and personal relationships among people working in the same field and dialing with the same opportunities and challenges is crucial to guarantee the necessary strength for the achievement of common objectives, in particular for SMEs which represent the industrial
tissue of most of the European Countries and need to count on an organisation that can effectively represent, defend and guide them in navigating the current epochal transitions of sustainability and digitalization.
EIFI provides today valuable information, assistance, guidance, and working tools; the latter need to be an active support to the daily Companies burden of tasks and to facilitate their dialogue with Stakeholders, and I can mention for example the new EIFI Steel Cost Change Indexes for both wire and strips used in the production of fasteners, which are published on a monthly basis on the EIFI website, as well as the agreement recently signed with FRED GmbH which grants to EIFI Members the access to a valid carbon footprint calculator recognized by the European Industry.
EIFI has new Members: we are happy that the Polish Association PSPEZ and new individual Producers, as well as Steelmakers, Coating Companies and global European Players in the legal and recruiting fields, are now part of our big Family. The broadening of our Membership base and the consequent possibility to widen our expertise confirms that we are moving in the right direction.
Last but not least, the European Commission recently published the “Notice of initiation of an anti-dumping proceeding concerning imports of screws without heads originating in the People’s Republic of China”, which evidently confirms our commitment to fight against unfair practices which are causing injury to the Fasteners
Q8
What are your expectations for the global fastener industry in 2025?
We expect limited growth mainly coming from the Asia Pacific region.
Europe and NA will face a flat year probably with a decrease in the first half and increase in the second half.
Copyright owned by Fastener World Interviewer: Gang Hao Chang, Vice Editor-in-Chief
Interview with
NFDA President Scott McDaniel
As of July 2024, most of the fasteners imported by U.S. fastener distributors came from “Taiwan, China, Japan, Canada, and Germany”, and the estimate for the whole year should be similar. Based on your knowledge, what are the main industrial applications that are currently generating most of the demand for fasteners in the U.S.? Do you think there are any special considerations that U.S. buyers should be aware of when purchasing fasteners from these sources?
The primary industrial applications in the US continue to be automotive, heavy truck, construction, agriculture, recreational vehicle, and power generation. Some markets have strengthened while others such as automotive and agriculture are slightly weaker currently. The push to have more electric vehicles will shift the types of fasteners being used, but they are still very necessary. It is not news to your readers but almost everything requires fasteners from the chair I am sitting in right now, to the car I drove today, to the doors and windows in my house. I am constantly amazed at our industry. Lead times and freight costs are still very important drivers but service, quality, and relationships are the most important aspects when choosing and buying from a manufacturer or supplier. The potential labor strikes with some US ports could put additional time and cost for customers when importing material from Asia or Europe.
Q3
(Following question 1) Do you have any suggestions for these suppliers' products and services to make the cooperation closer and smoother? And what other fastener applications do you think these suppliers could also strengthen their production for?
Ibelievewe are in a period of major technological change with Artificial Intelligence (AI) and it will be exciting and a little scary to see how it develops. Using AI will enable faster communication and new solutions to existing problems and challenges. Having answers to problems faster and identifying issues before they occur could help all of us. AI could also help design new fasteners that are lighter, stronger, and cheaper for some applications. There is nothing so constant as change. Everything must change to grow. So, we welcome change because... Change = Opportunity = Growth
At present, the situations in certain regions around the world are still unpredictable, and the issue of “requiring suppliers to have extra factories overseas” arising from geopolitical factors has been particularly the talk of the town in the past few months. To your knowledge, have you heard about this request from U.S. companies or association members? What do you think about this issue?
It is not a new issue and supply chain flexibility will continue to be a focus for companies around the world. Depending on the parts and the application, contingency plans are always a good idea especially in the event of a natural disaster such as an earthquake or cyclone. My hope is that there will not be a need for the contingency plans.
Q4
We see that some Taiwanese and Chinese fastener manufacturers have recently set up or are considering setting up overseas factories in Vietnam, Thailand or other emerging countries, do you think this will give them an advantage in cooperating with U.S. customers in the future? What advice do you have for them?
Q5
Can you tell us about the recent trends and your observations related to the major fastener markets in the U.S.?
The last few years have put a much bigger focus on product availability and service and less of a focus on cost savings. I believe that is changing, and there will be a greater focus on driving cost efficiencies and cost reductions while maintaining quality and service.
Q7
What role do you think NFDA can play in the current changes in the U.S. fastener market?
The NFDA has a long history of outstanding leaders and industry experts. It is truly an honor to be associated with so many wonderful people. I would like to help improve discussions with all the fastener distributor associations in Asia, Europe, and the Americas to improve communications and collaboration. The NFDA is working hard to provide great value in the areas of training, networking, and best practices.
Q9
Have you achieved any goals or accomplishments (including international exchanges) since you took over the presidency?
Ibecame President of the NFDA at our June Annual meeting and was given the honor of presenting the Fastener Professional of the Year award to Marc Strandquist’s family. Marc was a former President of the NFDA as was a huge supporter of the NFDA and the entire fastener industry. Marc was a mentor of mine, and I was blessed to have the opportunity to learn many valuable lessons from him.
Ithink it is a good idea to continue to expand the manufacturing capabilities into other countries as they become more industrialized. Vietnam, Thailand, and Malaysia have excellent opportunities for growth in fasteners as well as other manufacturing areas. I also think of India which has a massive population and good manufacturing but much of that capacity is needed to build components and products for their own country so exporting fasteners and other goods can be challenging but still possible.
Q6
The Fastener Distributor Index (FDI) for August has been released, how do you interpret the change in the index data?
The 53.8 FDI number is the highest level in the past 12 months and is the first increase since May. August is traditionally a good sales month as the summer vacation and holiday season in the US is over and everyone is back to work. With the Presidential election coming in November and the continued impacts of inflation and high interest rates, there is uncertainly for many companies. Some companies have paused investments until new leadership is elected and hopefully more business friendly guidelines are in place.
Q8
What quarterly meetings and events has NFDA planned for the new year?
We had our Executive Summit in San Diego California in October 2024. Our Holiday Party will be held in December which is always a fun event. In June 2025, we will meet in Charlotte, North Carolina for our Annual meeting. In addition to those events, we hold online training classes, mentorship opportunities, and even a book club led by the Young Fastener Professionals (YFP). We want to continue to provide opportunities to our current and future members.
Q10
What are your expectations for the global fastener industry in 2025?
Iexpect to see moderate growth in 2025 and even greater growth in the following years. It is an exciting time for our industry and I look forward to what lies ahead. Thank you for the opportunity to share my thoughts with you and your readers.
Copyright owned by Fastener World
Interviewer: Gang Hao Chang, Vice Editor-in-Chief
Can you tell us about the performance of Taiwan fastener industry so far this year?
The overall production and sales performance of Taiwan fastener industry this year is not good. If compared with the same period last year and depending on the respective status of manufacturers, they mostly reported a decline of about 10-30%, and it is also heard that some of the few small processing factories have faced a rather serious situation because of the upstream order shrinkage. According to the experience of previous years, September should have welcomed a wave of orders, however, as the European customers’ inventory level remains high, a significant decline in orders has been seen from the beginning of this year, even the orders for special products are showing the same scenario. As a result, I predict that before the end of this year, Taiwan's order intake may not appear a significant recovery. Fortunately, the orders from U.S. customers are a bit better.
Interview with
TFTA Chairman Arthur Chiang
What factors do you think contributed to this result?
In my opinion, the decline in demand from most European industries is the main reason. Firstly, during the previous pandemic, European customers rushed to Asian countries to place orders due to worries about supply chain disruptions and over-optimism about demand recovery after the pandemic. However, the ensuing Russia-Ukraine war, exchange rate fluctuations, inflation, and the resulting surge in electricity and oil prices quickly disrupted the market's recovery. I expect demand to continue to decline if the war between Russia and Ukraine continues. Secondly, the rapid rise of Chinese EV manufacturers threatens the development of mainstream European automotive producers such as Germany, not only in terms of manufacturing costs and
battery technology, but also in terms of the use of welded automated mass production, which significantly reduces the demand for fasteners used in traditional engines. Third, the outcome of the U.S. presidential election will certainly affect the global situation. Whether it is Trump's emphasis on “Made in America” or the imposition of import tariffs and other issues may affect the subsequent development of the fastener industry.
Are there any major challenges facing Taiwan fastener industry this year?
Manufacturing cost is one of the major challenges. Compared to the prices quoted by China and other steel mills, the price of wire rod from Taiwan CSC used by most Taiwanese companies is on the high side. Even though some companies previously imported wire rod from Vietnam, India, Brazil, Ukraine, etc., their prices still could not be lowered in consideration of transportation and manufacturing costs (e.g., the cost of carbon steel fasteners accounted for more than 55% of the total manufacturing cost). In addition, China continues to dump low-priced steel in response to its sluggish domestic demand, making Taiwan's industry even less competitive in terms of export quotations. I hope that Taiwan CSC can stand in the industry's point of view, examine the situation of Chinese competitors and the international market prices, and try its best to reduce the price to a level everyone can appreciate, which is not only helpful to the industry's exports, but also a long-term development strategy for Taiwan CSC which needs the support of the industry's sustained orders.
What quarterly meetings and events has TFTA planned for the new year?
TFTA will hold an Annual General Meeting in Gangshan, Kaohsiung City on December 6 this year, where representatives of the Ministry of Labor (Taiwan) will be invited to attend to further explain the issues of labor, automation, subsidies, and employment for middle-aged and senior citizens that are of concern to our members. TFTA also continues to maintain close communication with the Industrial Development Administration of MOEA (Tainan Branch), ITRI, MIRDC and other official units in the hope that the voices of TFTA members (generally SMEs) can be fully conveyed to relevant authorities. In addition, TFTA has recently been actively contacting private enterprises to plan courses or lectures on information security, automation, and digitization in the hope that through the tripartite integration of industry, government, and academic resources, it will help member factories, which are getting more and more second-generation new blood, to focus more on factory operation.
In the face of unavoidable global competition, what do you think Taiwanese fastener suppliers can do to demonstrate their competitiveness and what are still their strengths?
In order to remain competitive, Taiwan must strive to move towards “refinement” as “quality” is still the most important part of customers’ minds. The quality of Taiwanese products is obvious to all. However, it is important to note that our Chinese competitors are already catching up and making rapid progress. Many Chinese manufacturers have introduced a large number of sorting machines into their production lines in recent years, in an effort to reduce product defect rates on the one hand, and speed up automated production to cope with labor shortages on the other hand. If Taiwanese manufacturers want to maintain their leading position in the international market, they must spend more energy on quality control and employee training.
In addition to high quality and technology, Taiwanese companies are also more robust and stable in terms of “financial health” compared to their competitors. I understand that customers may choose to switch orders temporarily due to competitors' low prices, but from the perspective of sustainable operation and risk management, it is definitely the right choice to diversify orders to Taiwanese companies.
In terms of external relations, manufacturers should find ways to build customer confidence and strengthen adhesion with them, and convince them with technology to cooperate in product development. Taiwan is still a leader in precision molds & dies development despite the current sluggish market situation. It is recommended that manufacturers can seize the opportunity to put more effort into improving molds & dies development, such as reducing tolerances, accelerating the time to change molds and dies, so that the efficiency of production lines can be enhanced, consolidating the industry’s competitive edge.
The business world is like a war zone. In the face of competition from China, India and Vietnam, Taiwanese companies must be vigilant at all times to gain more market share. If a customer has an order worth a million dollars, even if your capacity is only for an order of 200,000 dollars, in the case of many competitors eager to get a piece of the pie, you have to find ways to get this one million dollars order to create more opportunities for yourself in the competitive market, otherwise the end is to give away the opportunity and your market share was taken by competitors.
Have you achieved any goals or accomplishments (including international exchanges) since you took over the chairmanship?
As the Chairman of TFTA, my main task is to play the role of a bridge between manufacturers and the government. Fastener manufacturers used to work alone, so I encourage business owners and the 2nd generation to make good use of the government's resources to re-plan and integrate the resources in their factories (e.g., automation, energy saving, carbon reduction, labor, and government subsidies), and I'm willing to do my best to help the industry to
strengthen the communication with industry, government, and academia, so that they can understand how to apply for and make good use of these resources.
In terms of international exchanges, I’ve planned to participate in the annual meetings of our partnered European and American Fastener Associations, where I hope to let our international friends understand the actual situation of Taiwan fastener industry and alleviate their concerns about the current geopolitical risks. I have also instructed TFTA International Committee to seek communication with more international associations in the hope of promoting more international cooperation opportunities.
Q7
What are your expectations for the global fastener industry in 2025?
The new year, of course, holds new hopes. In the face of increasing competition in the industry and the mid-term crisis facing the industry requiring suppliers to have overseas operation, Taiwan's industry must find ways to survive in the face of strong competition. Taiwanese government should be fair to the development of different industries, take a more active role in backing up the industries rather than focusing only on the IT industry, provide more relief packages for the hard-pressed industries, and, more importantly, make more young people to change their mindset and be willing to work in factories. Taiwan fastener industry has worked hard to improve its working environment, enhance its technical quality, and improve its corporate image, and has been a far cry from it used to be. It has taken on greater corporate responsibility and commitment when dealing with foreign suppliers and customers. In my opinion, Taiwan fastener industry nowadays should no longer be deemed as a “sooty” low-ranking industry, but rather as a modern, specialized and refined high-precision industry.
Copyright owned by Fastener World Interviewer: Gang Hao Chang, Vice Editor-in-Chief
Interview with
HKSFC Chairman Mr. Tsui Ping Fai
Q1
Can you tell us about the performance of Hong Kong fastener industry so far this year?
According to the Hong Kong Trade Development Council (HKTDC), the HKTDC Export Confidence Index for Q3 2024 indicates that sales performance in individual sectors has grown compared to 2023, with exporters remaining optimistic. Overall, the production and sales across various industries in Hong Kong are exhibiting slight growth amidst stability. Notably, exports from Hong Kong rose by 12.5% year-onyear during the first five months of 2024. Orders for fasteners were largely driven by a surge in orders for electronic products, which spurred a rapid rebound in exports, and were also supported by a recovery in some market demands and eased supply chain disruption. However, this increase partially reflects last year's low baseline, indicating that the overall market sentiment remains cautious.
Q2
Hong Kong’s Merchandise Export (By Industry)
Jan-May 2024 2023
HKD 100 Million
Electronics
Valuable Jewelry
Watches
Clothes
Toys
All Products
Source: HKTDC
What factors do you think contributed to this result?
The performance of the fastener industry this year is influenced by several key factors. There has been a significant increase in demand for fasteners and hardware parts from many manufacturing facilities in China and ASEAN countries, which is a primary reason for the improved performance of the fastener industry. However, the slow recovery of the global economy, particularly with demand growth in Europe and the U.S. falling short of expectations, has directly impacted Hong Kong's exports. Additionally, supply chain pressures have eased and the issues with transportation costs and delivery times have improved, providing favorable conditions for businesses. Furthermore, demand from the Chinese market remains stable, especially the demand from the manufacturing and infrastructure sectors.
Q3
Are there any major challenges facing Hong Hong’s fastener industry this year?
HKTDChas identified several challenges facing the Guangdong-Hong Kong-Macao Greater Bay Area in 2024:
• 93.9% of surveyed companies reported facing various challenges, primarily stemming from market demand/economic factors (44.4%), international freight/geopolitical issues (40.1%), and financing and risk-related problems (37.0%).
Q4
• Global economic uncertainty: Ongoing instability in U.S.-China trade relations and international market demand continue to affect Hong Kong's export business.
Fluctuations in raw material prices: Persistent volatility in steel and other raw material prices has increased production costs.
• Rising labor costs: Labor shortages and wage increases have put pressure on operational costs for small and medium-sized fastener companies.
Insufficient orders in the market of China.
economic slowdown & recession led to insufficient overseas orders Rising costs of labor, production, and transportation in China.
Fluctuations in RMB exchange rate or depreciation of currencies in target markets
Market Demand, Economic Factors : 44.4% Financing and Risk: 37.0%
Difficulties in financing & lack of financing channels
risk of lending & difficulties in receiving
Source: HKTDC Survey
Q6
Do you think those challenges will create new demands for fasteners in the near future?
Despite existing challenges, there are still potential opportunities within Hong Kong's fastener industry over the next few years. The ongoing electrification of vehicles globally and developments in new energy infrastructure are expected to drive an increased need for high-precision and corrosion-resistant fasteners. In particular, growth in infrastructure investment within Asia is expected to be a significant factor driving demand for fasteners.
Q5
What area is Hong Kong’s fastener industry currently focusing its product development on?
Currently, the product development within Hong Kong's fastener industry is concentrated on:
• EV sector: The application of lightweight and high-performance fasteners to electric vehicles is gradually increasing.
• High-precision engineering: Companies in Hong Kong are developing highly durable and high-strength fasteners aimed at aerospace and defense sectors.
International Freight, Geopolitical Challenges 40.1%
Geopolitical tensions in China-U.S. & Russia-Ukraine/ Israel-Palestine wars
Tariffs and trade measures targeting Chinese products in overseas markets
Lingering impacts from the pandemic & international freight disruption Impact on supply chains & production/ purchasing activities
Other Challenges: 37.0%
Lack of advantageous brands to develop the market
Stricter customers' requirements for ESG
Insufficient product design & R&D capabilities
In the face of unavoidable global competition, what do you think Hong Kong fastener manufacturers can do to demonstrate their competitiveness, and what are still the strengths of Hong Kong manufacturers?
Hong
Kong fastener manufacturers should focus on the following to maintain competitiveness: Technological innovation: Enhancing automated production lines and digital technology applications to improve efficiency and precision.
• Flexible services: Hong Kong companies have flexible international network along with specialized technical capabilities and customizability to quickly respond to diverse customer needs for special functions—this is a significant advantage in global competition.
• Rich experience with international market: Hong Kong’s fastener industry has accumulated extensive experience in operating globally, which helps address varying regional market demands and standards compliance.
What are your observations on the current market demand for fasteners in Hong Kong?
Demand in the domestic market primarily stems from sectors such as electric vehicles, construction, infrastructure development, and electronic product assembly. With advancements in smart city construction and efforts to push for localized language support in manufacturing, there is an upward trend in demand for precision and high-performance fasteners.
What quarterly meetings and events has HKSFC planned for the new year?
Hong Kong Screw and Fastener Council, along with HKTDC, plans to organize multiple industry conferences and exhibitions throughout 2024-2025, which include visits to RCEP countries and Mexico to focus on technological innovation and international collaboration. Specifically targeting the Asia-Pacific region, we will enhance technical exchanges within the industry while promoting sharing and collaboration on new technologies and materials.
Have you achieved any goals or accomplishments (including international exchanges) since you took over the chairmanship?
Since assuming the role of chairman, several achievements have been realized—particularly in promoting international collaboration and enhancing global influence of Hong Kong's fastener industry. Industry-wide technical collaboration has been facilitated across various international platforms. For example, we collaborated with institutions like Vocational Training Council and Hong Kong Productivity Council to give training courses focusing on application of advanced metal materials in cold forging technology of customized precision fasteners, as well as having technical exchange with Southeastern fastener counterparts and universities.
What are your expectations for the global fastener industry in 2025?
Looking ahead to 2025, it is anticipated that the global fastener industry will continue evolving towards smarter and more environmentally friendly solutions. The Southeast Asian market is expected to become a major driver of demand growth for fasteners. If Hong Kong's fastener industry can continue strengthening its technological innovations and international collaborations, it will be more well-positioned within the global marketplace.
Copyright owned by Fastener World Interviewer: Gang Hao Chang, Vice Editor-in-Chief
Special Interview with
How the Fastener Giant Sees the Fastening Future in 2025
Founded in Zug in 1831, the Bossard Group is a leading strategic partner for industrial fastening and assembly technology solutions to OEM customers globally with proven expertise in engineering and logistic services. Today, local and multinational companies count on Bossard’s expertise to increase their productivity – with success. Bossard calls this concept Proven Productivity which is also a promise to its customers. This includes, among other things, optimizing processes and reducing inventories to increase efficiency and productivity sustainably. In addition, Bossard is considered a pioneer in developing intelligent production facilities in line with Industry 4.0.
With more than 2,900 employees at 81 locations in 31 countries throughout the world, the Bossard Group generated CHF 1,069.0 million in sales in the financial year 2023 and is listed on the SIX Swiss Exchange.
In this annual Fastener World Buyers’ Guide, we will be looking at how Bossard concludes this year, as well as what Bossard perceives as the challenges and opportunities for the future fastener industry, followed by its latest development to stay ahead of the curve.
Q1:We
are glad to have you, Mr. Andreas Bertaggia (Vice President, Head of Global Supply Chain Management of Bossard), as our guest for this special interview. For starters, let’s recap 2024. Are there any critical incidents, challenges or missions that you think await the fastener industry to be aware of, to solve, to revolutionize or to break through?
A:I would like to express my gratitude for having me here today. If I may be so bold, I would say that sustainability is the key. The introduction of new regulations and legislation is a significant and growing challenge, particularly in Europe, with the result that bureaucracy is becoming increasingly prevalent. Consequently, costs are rising while profits are under pressure. The changing world, including geopolitics, politics, de-globalization, re-shoring, uncertainty, a lack of skilled workforces, and natural hazards, is impacting supply chains and business practices and influencing future decisions. The global economy is experiencing significant volatility and cost-focused pressures. The current environment can be described as VUCA, or Volatile, Uncertain, Complex, and Ambiguous. Concurrently, we are at the outset of a transformative technological wave, marked by the rise of digitalization and AI. These developments have the potential to profoundly impact the business landscape, akin to the shifts brought
about by the Industrial Revolution and the advent of the internet.
(Editor’s note: The acronym VUCA was a concept proposed by Warren Bennis and Burt Nanus to describe general conditions and situations, later spreading to strategic leadership in organizations. It provides a lens for organizations to interpret and articulate how they perceive challenges and opportunities.)
Q2:You have brought up those issues that certainly speak to the minds of many fastener industry players. What do you think is the proper mindset to navigate the issues that you have pointed out? And onto 2025, what do you think is the next step for the fastener industry? What is your prospect for this industry’s performance in 2025?
A:First and foremost, I believe there are significant changes occurring in our industry, and each company must determine how to navigate these complexities. I believe that the ability to adapt to new situations, environments, and circumstances is a crucial factor in success. Furthermore, maintaining awareness of and having a general overview of the changes in all the aforementioned areas is crucial for staying abreast of developments. My outlook for 2025 is that the beginning of the year will bring little change from the current situation, but I anticipate a more positive economic environment for the remainder of the year.
Q3:So it comes down to leveraging a corporate’s own flexible adaptability to get through a bumpy ride ahead. How would you manifest Bossard’s adaptability in this regard, as in how would Bossard position itself in such a global setting to expand sales? Where do you see your future opportunities?
A:In terms of adaptability, we are unified under the "One Bossard" banner, while simultaneously empowering our local entities to act on their local needs, environment, and circumstances. We have a defined growth strategy that combines organic growth with selective acquisitions of companies that align with our business model. Our goal is to remain a trusted partner to our customers, helping them enhance their productivity. Our comprehensive expertise and services, along with a keen understanding of the
market, ensure that our business model meets the evolving needs of both our existing and prospective customers.
Q4.Could you shed light on the acquisitions you have made, perhaps with an example? How does it exemplify your flexibility in corporate growth?
A:In terms of market segment, we are making significant investments and expanding our reach in the aerospace sector with the newly acquired French company Aero Negoce International Group, as well as the well-known German fastener distributor Ferdinand Gross Group. This will enable us to further strengthen our position in the German market, giving us greater power, capabilities, and knowledge.
Q5.Before we end this interview, for the curious eyes of Fastener World readers, share with us an update of your latest activities.
A:Our SFL-Smart Factory Logistics solution, which includes smart labels, wireless scales, and boxes, has been developed for use with our well-known logistics systems. Furthermore, we are extending our services to the workplaces of our customers' assembly lines with SFA – Smart Factory Assembly. This digitalizes the processes at each working assembly station. From box filling and step-by-step instructions to fastener tracking and torque data capture, our solutions are designed to streamline every aspect of the assembly process. Furthermore, we are currently implementing an IT platform on a global scale. This will eventually result in the entire Bossard Group operating on the same IT platform, which will provide a solid foundation for future technical developments such as AI and data analytics. However, our core business remains providing a comprehensive solution for all of our customers' C-parts needs.
The Takeaway
Rounding up this interview, here is the takeaway. First and foremost is the awareness of the global environment being in a state of VUCA, the impact on supply chains, as well as the global economy being volatile and cost-focused. While 2025 could possibly start off pretty much the same way we have been through in 2024, it doesn’t necessarily mean we can’t find that silver lining of positivity throughout the rest. The winning mindset is to stay alert and on top of issues such as those pointed out by Bossard, and just like how Bossard finds its way of SUSTAINABILITY, it is crucial to find YOUR OWN sustainability and adaptability. Find your ways to point yourself to seeing the needs of customers at every turn of this “VUCA” world. Build your manufacturing, technology, distribution and/ or acquisition strategies anew based on those needs. That’s one way to learn about what Bossard calls “Proven Productivity”. We express our thank-you to Bossard for sharing its success tips.
Fastener World NEWS
ASSOCIATION NEWS
Korea Federation of Fastener Industry Cooperatives Holds a Yearend Gathering
ISA Appoints 2024-2025 Board of Directors
The Industrial Supply Association (ISA) appointed several industry leaders from distribution, manufacturing and manufacturer representatives to its Board of Directors for the 2024-2025 term.
As 2024 drew to a close, the Korea Federation of Fastener Industry Cooperatives held its annual year-end gathering, an event designed to strengthen communication among members and foster collaboration for future industrial advancements. The gathering took place on November 20, 2024, at the Gwangmyeong Station Convention Wedding Hall in Gyeonggi Province. The event commenced at 16:00 and featured a range of activities aimed at enhancing professional relationships within the industry. Attendees looked forward to expert lectures that provided valuable insights into current trends and challenges facing the sector. Additionally, the Association presented its annual business reports, highlighting key achievements and initiatives from the past year.One of the highlights of the evening was the awards ceremony, which recognized outstanding individuals who made significant contributions to the industry. Following the formalities, attendees had the opportunity to engage in toasts and enjoy dinner together, further promoting networking and camaraderie among members. To commemorate the occasion, yearend gifts were provided to all participants, adding a festive touch to the gathering. Representatives from member companies were encouraged to attend this important event, which aimed not only to celebrate the year’s accomplishments but also to pave the way for future collaborations and innovations within the industry.
Beginning July 1, the following volunteer leaders are responsible for charting ISA’s strategic direction while overseeing initiatives that drive the advancement of the industry and the association.
ISA 2024-35 Executive Chairs
˙Chair: Joyce Lansdale, Vallen USA Vice President of Industrial Sales
˙Vice Chair: Keith Mudge, Kennametal Vice President of Sales in the Americas
˙Treasurer: Brent Williams, US Tool Group President
˙Secretary: Patrick Baliva, Saint-Gobain Abrasives' Executive Sales Director of North America
˙Immediate Past Chair: Rob Keenan, Seco Tools President
ISA 2024-35 Directors
˙Mike Page, R.S. Hughes Chief Marketing Officer
˙Jessica Yurgaitis, Industrial Supply Company CEO
˙Jim Biel, Black Hawk Industrial Vice President Product Management
˙Bill Davis, Snap-on Industrial Vice President of Industrial Distribution Sales
˙Jim Johnson, Line Drive President
˙Teresa Wu, 3M Industrial Channel Vice President for United States and Canada's Safety and Industrial Business Group
˙Jim Terry, CEO/Owner of P.F. Markey
˙Matt Sisco, Safety Products Global Executive Vice President
“This group of leaders brings a fresh perspective and a wealth of experience that will be instrumental in driving our strategic initiatives forward,” ISA CEO Brendan Breen said. “I look forward to working closely with them to foster collaboration, innovation, and growth within our association and the entire industrial supply industry.”
LATEST ON CBAM & CARBON PRICE
Taiwan MOE Determines
Domestic Carbon Price Rate
Taiwan Ministry of Environment announced a consensus on the carbon price on October 7. The review committee has determined that the general rate is NTD 300 per ton, which will be increased to NTD 1,200 to 1,800 in 2030. Preferential rates may be applied to businesses that propose independent reduction plans. The preferential rates are NTD 50 or NTD 100 depending on specified requirements. In addition, businesses with high carbon leakage risks can multiply the price by the “emission adjustment coefficient” of 0.2, which will result in the minimum carbon price at only NTD 10 per ton. The charges are applicable to the electricity, gas supply and manufacturing industries whose annual greenhouse gas emissions exceed 25,000 metric tons of carbon dioxide equivalent. In the first phase, there are about 281 companies subject to carbon price collection. The Ministry has calculated and found that if all carbon price levy targets can propose independent reduction plans, the carbon emissions will be reduced by 14% in 2030 compared with 2005, while Taiwan’s Nationally Determined Contribution (NDC) target for 2030 is 23% to 25%.
The Ministry stated the next step is to pre-announce a draft bill for carbon price rate, which is expected to take effect on New Year’s Day in 2025. There will be future measures to increase carbon inventory scope as well as the levy targets. Calculation based on a preferential rate
of NTD 100 translates to a carbon price income of NTD 6 billion in 2026, which will be used for practical reduction efforts, adaptation to climate change, administrative implementation and other work. If a manufacturer with annual emissions of 10 million tons does not propose a voluntary reduction plan, it will have to pay NTD 2.99 billion per year; if it submits the plan and multiplies the emissions by the high carbon leakage risk factor of 0.2, it will only have to pay a minimal NTD 100 million. Environmental protection advocates issued a statement of criticism, asking that the preferential rates be phased out after 2030. Starting next year, the Ministry will follow the EU’s practice and require imported similar products to declare emission coefficients. The Ministry will also start planning Taiwan’s own CBAM.
Table 1. Carbon Price (in NTD) Calculation by Taiwan Ministry of Environment
According to the calculation (Table 1) by the Ministry, a company at an annual emissions level of 10 million tons of CO2e with no carbon reduction measures will be charged a carbon price of NTD 300 per ton, and deducting the exemption quota (25,000 metric tons which translate to a deductible value of NTD 7.5 million), the company will eventually pay NTD 2.9925 billion. For a non-high-carbonleaking company which has submitted an independent reduction plan that meets the designated reduction targets (up to technical par), a preferential rate (NTD 100 per ton) can be applied, and the carbon price is reduced to NTD 997.5 million, just one-third of the price for companies without carbon reduction measures. Going further, by choosing the industry-specific target (up to industry par, namely the highest in international standards) an even lower price rate of NTD 50 per ton can be applied, leading to a carbon price down to NTD 498.75 million. For high-carbon-leaking industries such as steel and cement, the price is calculated as follows: Emissions x Emission Adjustment Coefficient Value x Preferential Rate. The emission adjustment coefficient values will be 0.2, 0.4, and 0.6 respectively in the first to third phase, gradually going downward. For a non-high-carbon-leaking company with annual emissions of 10 million tons of
CO2e, by submitting an independent reduction plan that meets the specified reduction targets (up to technical par), a preferential rate of NTD 100 per ton can be applied, and the carbon price is down to NTD 200 million (10 million x 0.2 x NTD 100= NTD 2 million). By choosing the industry-specific target (up to industry par), a preferential rate of NTD 50 per ton can be applied, and the carbon price is down to NTD 100 million (10 million x 0.2 x NTD 50= NTD 1 million).
Taiwan CSC’s Steel Billet Carbon Emission
Now Lower than CBAM Default Value
Taiwan CSC has been implementing carbon reduction, green energy and energy resource recycling and seeing visible results. The default value of carbon emissions per ton of steel billets under CBAM in the pilot phase is 2.21 tons. Taiwan CSC’s value is 1.86 tons, 15% lower than the default value.Between 2011 and 2020, Taiwan CSC completed a total of 1,182 carbon reduction projects, with a cumulative annual carbon reduction of 1.45 million tons, accounting for approximately 6.5% of Taiwan CSC’s total annual carbon emissions, which translates to an average annual carbon reduction of 0.65%. Between 2021 and 2023, another 682 carbon reduction projects were completed, including improving heat recovery in the manufacturing process, improving energy efficiency, replacing old equipment, introducing AI technology, and reducing energy consumption. This amounts to an annual carbon reduction of 1.27 million tons, with an annual reduction rate of 1.93%, 2.9 times the past average.
FASTENER WORLD NEWS
Vietnam to Run Carbon Market Pilot Program from 2025
Vietnam plans to pilot a carbon market from 2025 to 2028. However, while it expands infrastructure and allows domestic companies to adopt and adapt to carbon credit transactions, it will not open transactions with foreign companies and entities for the time being. Vietnam is accelerating the development of its carbon market and setting emission quotas for the electricity, steel and cement industries from 2025. Relevant measures are intended to help high-carbon emitting industries cope with the challenges of the EU CBAM and improve the regulatory support for the implementation of Article 6 of the Paris Climate Agreement.However, during the threeyear trial period, except for transactions under existing international contracts, carbon transaction between the Vietnamese market and international parties will be restricted. Vietnam’s goal is to fully activate the domestic carbon market by the end of 2029. Before that, it will gradually explore potential connections with the global market. During the pilot phase, approximately 200 facilities are expected to gain emission quotas, accounting for approximately 45% of Vietnam’s total carbon emissions. The plan outlines that power plants, steel plants and cement production facilities are included in the pilot scope and will receive emission quotas for 2025 and 2026 distributed by the government. Relevant facilities and enterprises must formulate and implement emission reduction strategies in accordance with regulations to meet the emissions allowed by the quotas. The EU has become Vietnam’s largest steel export destination, accounting for 33.6% of Vietnam’s overall steel exports.
South Africa Remains Underprepared for CBAM
South Africa is concerned about how to reduce carbon emissions and comply with international standards. Experts speculate that by 2030, South Africa’s GDP may decrease by about 0.3% as a result of CBAM. South African International Fiscal Association (IFA) explained the urgency of CBAM to the press. Johann Hattingh, IFA consultant and professor of international tax law at the University of Cape Town, said that the EU has completed preparations in the CBAM transition period. South African exporters have just over a year left to cope with it. As South Africa has an intensive energy industry and it is subject to one of the lowest carbon tax rates in the world, local exporters must speed up their preparations. According to CBAM regulations, from January 2026, South African importers may face paying fines for greenhouse gas emissions from their products. The EU plans to expand the list of target industries in 2030. South Africa is one of the 15 countries most impacted by CBAM, among China, Brazil, India and other countries. Seutame Maimele, an economist at Trade and Industrial Policy Strategy, TIPS, pointed out that with the CBAM Q4 report released at the end of October, South Africa needs to establish a complete “Monitoring, Reporting, and Verification (MRV)” system as soon as possible. However, the verification process is expensive and must rely on international consultants who would charge quite a lot to provide regulation-compliant ESG reports. If South Africa companies need to develop their own MRV systems, it could at least take 5 years by estimate.
INDUSTRY DEVELOPMENT
Taiwanese Fasteners Exhibit Signs of Regaining Competitiveness as Pressure Weighs on China
Taiwan’s fastener export weight and price have dropped as a result of China’s export of low-priced fasteners, but recently there have been signs of recovery. According to customs statistics, Taiwan exported 101,000 tons of fasteners in September, down 19.4% from 127,000 tons in August but a slight increase from less than 100,000 tons in the same month last year. The United States, accounting for 46% of Taiwanese fastener exports, is the largest destination for Taiwanese fasteners. The total weight of Taiwanese fasteners exported to the United States in September was 47,000 tons, a slight decrease of 0.31% compared with the same month last year; exports to the 27 EU countries and UK amounted to 31,862 tons, an annual increase of 14.10%; however, exports to ASEAN decreased by 10.89% annually. China previously leveraged its low-price to grab orders, but as the United States imposed a 25% high tax rate on Chinese steel and aluminum, China greatly reduced the amount of exports to the United States. In September, Chinese fastener exports to the United States dropped 16.17%. Compared to its exports to the EU which increased 17.74% and its exports to ASEAN which increased 4.7%, Chinese exports to the United States appear weak. However, Taiwan’s current fastener export unit price, at USD 3.53/kg, is still nearly twice as expensive as China’s, at USD 1.9/kg. Although China exports a higher volume of fasteners over Taiwan, more and more countries are seeking actions against Chinese low-priced steel products. According to sources, Indonesian steelmakers are vigorously asking the government to take action on China’s dumping of low-priced steel products. China’s low-priced fasteners will still face considerable challenges in the future.
EU Announces Launch of an Antidumping Investigation into Headless Screws Imported from China
The European Commission received a domestic application on September 2 claiming that the headless screws imported from China cause injury to the EU industries. After a preliminary review of relevant evidence, the European Commission believed that the evidence submitted by the applicant was sufficient to initiate an anti-dumping investigation, and announced the launch of the investigation on October 17. The EU tariff codes of the products under investigation are CN codes 7318 15 42 and 7318 15 48. The investigation period covers the range from July 1, 2020 to June 30 this year. The European Commission will publish regulations to instruct the customs authorities of member states to implement import registration of headless screws imported from China in the early stages of investigation. The investigation for this case is expected to be completed within one year from the date of announcement, with a maximum of 14 months. For detailed information, please download it from the EU Official Journal website at https:// eur-lex.europa.eu/eli/C/2024/ 6209/oj
U.S. Makes Definitive Decision to Impose Additional Tariffs on Chinese Products, Increasing 100% on EVs
The U.S. government decided on September 13 to significantly increase import tariffs on Chinese products, with some tariffs taking effect on September 27. In addition to imposing a 100% tariff on Chinese EVs, the U.S. will also impose a 50% tariff on Chinese solar cells and a 25% tariff on Chinese steel, aluminum, EV batteries and critical minerals. Meanwhile, the U.S. has increased import tariffs on Chinese semiconductors by 50%. This new tax rate will take effect in January 2025. Two new categories have been added to the semiconductor category: polycrystalline silicon and silicon wafers used in solar panels. According to the Chinese Ministry of Commerce, the Office of the United States Trade Representative previously solicited public comments on the results of the tariff review. Most of the opinions opposed the imposition of additional tariffs. The Ministry urged the U.S. to immediately cancel all additional tariffs on China.
An Enclave Economy Industrial Park Starts Construction in Yongnian, Handan
The industrial park began construction on September 29. This is a major step to promote the transformation and upgrade of the local fastener industry. The park focuses on high-precision, high-strength fasteners and other metal products, striving to build an international smart manufacturing base for highend fasteners. At present, there are 6 projects under construction, including Hebei Goodfix Industrial’s export industrial park, Hebei Yunchang Fastener Manufacturing’s high-end special wind power anchors, Uniexpv Technology’s shared factory of photovoltaic brackets, Hebei Tuofa Telecommunication And Electric Equipment Manufacturing’s ultra-high voltage power transmission and transformation device materials, Jiancangmeng (Jiangsu) Technology’s warehousing and sales center, smart logistics and shared production center, involving the R&D and production of high-end fasteners, smart logistics, warehousing and export, shared facilities, etc., to create a new benchmark for the fastener industry.
COMPANIES DEVELOPMENT
Simpson Strong-Tie Promotes Ron Gaines to Senior Vice President of North American Sales
Simpson Strong-Tie, the leader in engineered structural connectors and building solutions, has elevated Ron Gaines to Senior Vice President of North American Sales. In his new position, Gaines will oversee sales across the company’s five main regional branches as well as its National Retail/eBusiness, National Builder, Pro Supply, CRM and Training teams. A nearly 40-year veteran of the construction industry, Gaines began his career as a truss designer and salesperson in LBM. He joined Simpson Strong-Tie in 1996, spending 17 years in the field as a Territory Manager and then serving as a Regional Sales Manager, Connector Sales Manager, Regional Sales Manager for Building Technology and, most recently, Director of Sales for the Southeast US. “Ron has a broad range of skills and knowledge, and his vast experience will be invaluable in helping the leaders of our five North American branches drive sales at their respective locations,” said Phil Burton, Executive Vice President, North America for Simpson Strong-Tie. “He has proven to have the experience and commitment necessary to lead our efforts to grow sales and market presence alongside our branch and home office teams. In addition, his focus has always been on developing his people, a mission he plans to continue in his new position.”
Norma Group Defends Patented Joining Technology Against Chinese Competitor
NORMA Group, a market leader in engineered joining technology, has won a patent lawsuit it had filed against a Chinese competitor. The Supreme People’s Court in Beijing ruled at the end of June 2024 that a product from Suzhou Shengnuo Connection Technology Co. Ltd (“Shengnuo”) infringes on a NORMA Group patent for an advanced worm-drive hose clamp. The competitor has been prohibited from manufacturing or selling this clamp. Shengnuo must also pay damages to NORMA Group.
CEO Guido Grandi: “Our decades of experience and development expertise give us a competitive edge and represent key success factors. We use patents to protect our innovations and safeguard our intellectual property. The outcome of the patent infringement proceedings sought by us secures our current and future business with advanced joining technology.”
NORMA Group’s patented clamp is a worm-drive hose clamp for pre-positioning the clamp on a hose. This PreFix system consists of two prepositioner elements that are used to preposition the clamp at the exact point on a hose where the connection to a spigot or pipe is to be closed later. This feature is used, for example, when hose systems are stored or transported before final assembly. Prepositioning also makes assembly in engine compartments and other confined spaces much easier. NORMA Group engineers developed the clamp to make assembly as simple, quick and safe as possible. NORMA Group has been offering the clamp under the name TORRO® PreFix System since 2007.
Volkswagen Considers Closing German Plants to Cut Costs
Volkswagen is considering closing factories in Germany to further cut costs, an unprecedented move that would deal another blow to the German government. The potential measures target Volkswagen’s main passenger car brands as well as other group entities. Specific measures also include trying to terminate the agreement reached between the company and the labor union to ensure employment stability until 2029. A closure would mark the first time Volkswagen has closed a factory in Germany in its 87-year history, and the company is expected to clash with powerful labor unions.
A TORRO hose clamp with PreFix system
Hyundai Motor Plans to Achieve Annual Sales of 5.55 Million Vehicles in 2030, Including 2 Million EVs
To achieve annual sales of 5.55 million vehicles, the company plans to expand production facilities at its global operating bases and increase production capacity by 1 million vehicles. The company plans to invest a total of US$90.13 billion from 2024 to 2033 to actively support the implementation of this strategy. This is a 10.1% increase from Hyundai Motor’s investment plan from 2023 to 2032.
An important focus of the new strategy is electric vehicles. Hyundai Motor aims to sell 2 million electric vehicles by 2030, accounting for approximately 36% of its total vehicle sales. Among them, it plans to sell 690,000 units in North America and 467,000 units in Europe.
The company plans to improve its self-developed hybrid system to better meet the growing demand. The company also intends to expand its hybrid powertrains, previously found mainly in compact and midsize cars, to a wider range of models. The expansion will increase the number of hybrid models to 14 from the current 7. Hyundai Motor said it plans to increase sales of hybrid vehicles to 1.33 million units by 2028, significantly expanding its sales scale.
Geely Automobile to Establish Joint-Venture Automobile Assembly Plant in Vietnam
Vietnamese company Tasco issued a statement saying that Geely Automobile and Tasco signed an agreement to establish a joint venture for an automobile assembly plant in Taiping Province, Vietnam, with a total investment of approximately US$168 million, of which Geely Automobile will contribute 36%. The factory will have an annual production capacity of 75,000 vehicles in the first phase and will assemble models under the Lynk & Co and Geely Automobile brands, with a possibility to expand to other brands in the future. Construction of the new factory is expected to begin in the first half of 2025, with the first batch of models expected to be delivered in early 2026.
Reinhold Würth Celebrates 75 Years at Work
From a hardware wholesaler with two employees to a global market leader with more than 88,000 employees: This impressive development is the life’s work of Professor Reinhold Würth, Chairman of the Supervisory Board of the Würth Group. On 1 October 2024, he celebrated his 75th work anniversary. Family and friends, numerous guests from the worlds of politics, business and the arts as well as the company management congratulated Professor Reinhold Würth during a ceremony at Carmen Würth Forum in the German town of Künzelsau. “I stand before you, immensely grateful, and in all modesty and humility, knowing that I would never have achieved the success we are seeing today without the hard work and the loyalty of these 88,000 people from all these different cultures, different backgrounds, with different nationalities, and different religions,” said Professor Würth.
German Chancellor Olaf Scholz also offered his congratulations on this special occasion in Künzelsau: “It is thanks to entrepreneurs like Reinhold Würth that Germany has such a strong economy. His entrepreneurial courage and his tireless commitment to the company and its employees are impressive and deserve my respect and admiration. The company’s success is exemplary of one of the most important pillars of Germany as a business location: More than three million family businesses create and maintain more than half of the jobs subject to social insurance,” the Chancellor said in his speech. Some of Professor Würth’s favorite pieces of music accompanied the ceremony. The program was rounded off with Albert Lortzing’s opera.
ACQUISITIONS
Distribution Solutions Group’s Operating Company, Gexpro Services, Enters into Agreement for Small, Highly Strategic Acquisition
Distribution Solutions Group, Inc. (DSG), a specialty distribution company, announced that its operating company Gexpro Services signed an agreement to acquire Tech-Component Resources Pte Ltd (TCR), a small and growing Southeast Asian distributor of fasteners, mechanical components, and other industrial products serving OEM customers and related applications. TCR is headquartered in Singapore, and its second location is in Malaysia.
“We are excited to partner with TCR to establish an operation for Gexpro Services in Southeast Asia,” said Robert Connors, Chief Executive Officer of Gexpro Services. “This highly strategic acquisition allows Gexpro Services to expand our geographic footprint and pull through products and service capabilities to serve existing customers and continue to grow market share. In addition to better serving existing customers, we have identified new target customers and vertical markets to expand throughout Southeast Asia. Increasing our market potential with products and service offerings in these regions extends opportunities in critical end markets, including technology, semiconductor, industrial, and manufacturing.
FASTENER WORLD NEWS
We believe that Gexpro Services is well positioned to expand TCR’s products and service capabilities for a broader and more diversified selection of offerings, creating a superior customer value proposition.”
“We are thrilled to join Gexpro Services and DSG to accelerate our growth opportunities,” said Koh Kee Hun, General Manager of TCR. “TCR customers, suppliers, and employees will benefit from partnering with Gexpro Services and its industry-leading global supply chain solutions. We look forward to having access to Gexpro Services’ unique capabilities and expanding our available product and service offering and geographic reach into a broader distribution network.”
Bryan King, CEO and Chairman of the Board of DSG added, “We’re excited to partner with TCR and Koh Kee Hun to have a much stronger foothold in the semiconductor and other global manufacturing industries.”
US LBM Acquires Texas Tool Traders
US LBM, a leading distributor of specialty building materials in the United States, has acquired Texas Tool Traders, a premier supplier of construction fasteners, tools and supplies to framing contractors, builders and remodelers across Texas. Texas Tool Traders dates to 1973, when the company opened its first retail location in Houston. Today, Texas Tool Traders operates 14 locations statewide, supporting customers in the Austin, DallasFort Worth, San Antonio and Houston metro areas.
In addition to Texas Tool Traders, US LBM operates in the state under multiple brand names, including Texas Building Supply, which supplies a wide range of specialty building materials. “Texas Tool Traders has a well-earned reputation for quality and service, and we’re pleased to welcome the team to US LBM,” said US LBM President and CEO L.T. Gibson. “The addition of Texas Tool Traders expands our comprehensive product and service portfolio in Texas, enhancing the value we bring to builders in Texas’ major metro markets, which continue to have high levels of new construction.”
Is Brazil Making a Comeback?
A Short View About the Local Fasteners Market in 2024
Although written in November – and therefore with incomplete data throughout 2024 – the aim of this article is to show a summary of what happened in Brazil over some industrial sectors, where a lot of fasteners are consumed and therefore are very representative for the players in the supply chain that involves screws, bolts, nuts, washers, rivets, and others, in addition to technological services, coatings, and final application.
First, it is important to mention that the production volume of the domestic steel sector in Q1 and Q3 2024 was 25.2 million tons of steel, 4.26% higher than the same period in 2023, which in turn closed the year with 32 million tons.
Partially following the Brazilian industrial production, among automobiles, motorcycles, home appliances and electronics products, the scenario is of very robust performances, reflecting a great end to 2024, and even better for 2025, ‘if nothing breaks along the way’ over the economic and political macroenvironment, nationally and internationally.
Automobiles
On global automotive production ranking, Brazil was among the top 10 in 2023:
It is estimated that each passenger car (not electric) requires 30 kg of fasteners, which indicates an apparent annual consumption around 7.4 million tons of screws, bolts, nuts and similar products, produced in and outside of Brazil. In addition, there is robust consumption in the aftermarket, currently with 122,259,745 vehicles (editor’s note: including all types) in circulation in the country. (Editor’s note: for automobiles, the number of circulation is 62,718,052 vehicles, according to the Brazilian Transport Ministry)
Brazil and other countries have not yet recovered to the levels produced in 2019. On the other hand, the car prices have risen significantly. By comparison, until 2020 in the US there were 17 car models priced under US$ 20 thousand, and today there are only six models, according to https://jalopnik.com/
Added to this, car purchases by young people are falling, who in turn increasingly choose to use public transportation and app-based taxis. It is also worth noting that the drop attributed to high prices is significant in Brazil, where the average income is low, currently at US$ 10.3 thousand per capita, even though it is the 8th largest global economy in absolute numbers, with US$ 2.173 trillion in GDP in 2023.
Motorcycles
Unlike the segment of 4-wheeled or more vehicles, the 2-wheeled sector, motorcycles, is living its golden years. After producing 1.573 million units in 2023, surpassing 1.511 million units in 2014 (namely before the 2015-2017 recession), between Q1-Q3 2024 more than 1.323 million units were assembled, 11% higher than the same period in 2023, an expansion apparently driven by the growth of delivery services in the country. Projecting to the end of this year with 1.745 million motorcycles, and multiplying 6 kg of fasteners used per vehicle, apparent fastener consumption in assembly lines should be around 10 thousand tons, excluding the aftermarket involving 33,896,833 motorcycles in circulation in the country.
Home Electronic Appliances
Between Q1 and Q2 2024, sales of home electronic appliances in Brazil increased by 34% compared to the same period in 2023. This is the highest level historically, according to Association of Electronics Manufacturers (Eletros) on Forbes Brazil website.
On average, 12.9 million units have been sold per year, specifically among washing machines, stoves and refrigerators, and in the recent Q1 and Q2 2024 there were 7.3 million more units, 16% more than the same period in 2023. Represented by 33 companies, this sector is equivalent to 3% of the national GDP, with 200 thousand direct jobs shared among 51 factories in the country.
In short, all these sectors are strong consumers of fasteners, and note that we have not mentioned the construction and renovation sector of residential, commercial and industrial properties, which represents around 10% of the GDP, as well as oil & gas, energy from hydroelectric, wind power, and solar sectors.
Article by Sergio Milatias, editor of ‘Revista do Parafuso’ (The Fastener Brazilian Magazine)
EUROPEAN NEWS
by Fastener + Fixing Magazine / www.fastenerandfixing.com
LISI Group Sales up for H1
LISI Group achieved sales of €903.6 million in the first half of 2024, up 10% compared to 2023, with LISI AEROSPACE up 21.8% compared to the same period of last year, and LISI AUTOMOTIVE and LISI MEDICAL finishing down 2.5% and 0.8% respectively.
LISI AEROSPACE sales totaled €505 million at the end of the first half of the year. The ‘Fasteners’ segment grew in Europe by 26.2% and 22.9% in the United States on an already high comparison basis in H1 2023. As well as this: the ‘Structural Components’ segment grew by 17.1%.
The good long-term outlook for the global commercial flight of the aeronautical market is reflected in high order levels among manufacturers. The increases in monthly production rates for single aisle aircraft were revised downwards at the end of the half year with no impact on the division. The significant return of long haul orders, as well as the good performance of the helicopter and military market segments, are also supporting demand over the long-term.
LISI AUTOMOTIVE’s sales amounted to €310.6 million. Order intake for new products remains at the high-level of 13.6% of sales over the half year (14.2% in 2023) which equates to €42 million (€45.2 million in 2023). The LISI AUTOMOTIVE division thus confirms its positioning in electromobility and its ability to quickly adapt its product ranges. These performance results also testify to its increased diversification with Chinese or American OEMs and manufacturers, for braking systems or interior fittings.
The LISI AUTOMOTIVE division is expected to experience a slowdown in demand from its main customers during the second half of the year in a market experiencing profound technological and geographic changes. Added to this is strong pressure on prices across the entire automotive industry with the will to lower the manufacturing costs of electric vehicles. The LISI AUTOMOTIVE division will therefore have to continue to demonstrate discipline and adaptation while ensuring the development and ramp-up of new products resulting from record order intake in recent years.
LISI MEDICAL’s sales amounted to €88.5 million in H1 2024. In addition to this unfavorable comparison basis in the first quarter was a movement to adjust the inventory levels of the division’s main customers and production disrupted by difficulties in sourcing raw materials.
Würth Group Satisfied with First Half of 2024
The Würth Group reported sales of €10.2 billion in the first half of 2024, which corresponds to a year-over-year decrease of 3.2%, and a minus of 2.6% adjusted for currencies.
The sales volume generated by the German companies of the Würth Group amounted to €4 billion compared to €4.2 billion in the same period last year, with companies outside Germany reporting a slight drop in sales of 1.8% year-over-year. Within Würth Group’s core business, the Auto Division reported positive growth of 4.2%.
At €525 million, the operating result of the Würth Group is down year-over-year (2023: €680 million) as a result of the lower sales volume in the first half of the year.
Over the past twelve months, the Group has also created over 300 jobs in the fields of digitalization and IT. Currently, the Würth Group has 88,616 employees worldwide, with 44,437 employees working in sales. Around 1,200 employees joined the company through acquisitions.
Robert Friedmann, chairman of the central managing board of the Würth Group highlights: “Our sales development continues to be strongly influenced by the economic situation, which is particularly noticeable in the manufacturing units that supply to the automotive industry, for example. Nevertheless we are sticking to our countercyclical strategy: We invest when others scale back. We are continuing to expand our sales activities across all channels such as the sales force, shops, and eBusiness, while also investing in IT and promoting digitalization. The promise of readily available products to our more than four million customers worldwide is our top priority.”
New President and CEO at Bulten Group
The board of Bulten AB has appointed Axel Berntsson as the new President and CEO of Bulten Group – starting no later than 22nd January 2025.
Axel comes most recently from the position as President and CEO of Absolent Air Care Group, which he has held since 2018. Prior to this, he was CEO of the subsidiary Absolent AB for two years. Axel also has experience in senior roles within ESAB and CPS Color, and has worked as a management consultant at Accenture.
“The board is very pleased with the recruitment of Axel Berntsson. He has solid experience from several global industrial companies and has great experience of change management, as well as of creating long-term shareholder value. With his background and leadership, I am convinced
TR Fastenings Opens New Facility in China
TR Chai Yi Precision Fastenings Manufacturing, now part of the Trifast Plc Group of companies, is celebrating the launch of its Chinese manufacturing facility in the key industrial city of Dongguan, within the Guangdong Province, capitalizing on years of increasing demand in the region.
Guangdong is a vibrant world class center of innovation and technology, providing the perfect place for TR to produce its precision engineered screws to OEM’s and their sub-contractors, whilst leveraging its global scale on a local basis.
The new 2,800m 2 of manufacturing space houses 44 cold forging machines and 36 thread rolling machines producing 0.6mm to 4mm micro screws and thread forming screws, in steel, stainless and titanium, with an output of around 1 billion pieces per annum.
TR Chai Yi is proud to have achieved the globally recognized ISO 9001 certification demonstrating it meets the stringent criteria required for quality, safety and efficiency standards for its products and services to customers in the region. The accreditation affirms the team is committed to providing the highest level of quality across the organization and are continually looking at ways to improve.
Jeremy Scholefield, Asia Pacific managing director, explains: “We’re delighted to open this new facility and in such a renowned area, it’s such a positive move for TR as a Group. Our focus is on producing competitive products and continuing to build a strong capability in China and across the Asia Pacific region to meet market demands. Here in Guangdong, one of our key differentiators is our technical engineering knowledge to produce very precise and often complex components, those that are manufactured to exact measurements and mass produced. This latest investment is key for us, as it highlights TR’s robust development in the region and our commitment to staying close to key customers here.”
The new China plant is the company’s seventh global manufacturing facility with factories now also in Italy, Singapore, Taiwan and Malaysia.
that he will successfully develop the company in new customer segments and markets,” says Ulf Liljedahl, chairman of the board.
“Bulten is a well managed company with a long history and strong position and has a clear growth strategy. I am proud to have the opportunity to lead and further develop the company towards new goals, together with new colleagues,” states Axel Berntsson.
▼ Axel Berntsson
Leadership Transition at Norm Holding
Norm Holding is pleased to announce appointments effective Wednesday, January 1, 2025. Vice Chairperson and CEO Nedim Uysal will transition his CEO role to Mahmut Öztürk. Mr. Uysal will continue as Vice Chairperson, ensuring a smooth transition and continuity in leadership.
Over the past five years, Nedim Uysal has been instrumental in strengthening Norm Holding's market position. His visionary leadership has led to significant growth, with Norm Holding expanding its operations and revenue to 500 million Euros. Under his guidance, Norm Holding’s branding and marketing efforts have advanced domestically and internationally to 24 companies and 20 production facilities. His focus on sustainability and corporate governance has earned Norm Holding several accolades, including the ECOVADIS Silver Medal, TAİDER Northern Star Sustainability Award, and Deloitte Best Managed Companies Award.
TURKISH NEWS
Chairperson M. Fatih Uysal shared his thoughts on the transition: "Our recent investments have deepened our core activities while enabling growth in new sectors. To meet our evolving needs, we aim for a more agile structure. I extend my heartfelt thanks to Mr. Nedim Uysal for his visionary leadership and determination, which have greatly enhanced our business. We are deeply appreciative of his contributions and the significant milestones he has achieved for our company. I am confident that under Mr. Mahmut Öztürk's leadership, marked by responsibility, meticulousness, and disciplined dedication, we will make significant strides toward our innovation and sustainable growth goals. I believe that the valuable contributions of both executives will propel our organization further in the coming period. I wish the new appointments all the best and success."
Mahmut Öztürk graduated from Dokuz Eylül University's Faculty of Economics and Administrative Sciences in 1995 and completed the Procade Master program at Dokuz Eylul University Faculty of Business Administration in 1997. He started his career at Norm Fasteners Bolts as an Export Officer in 1997, later holding roles in Production Planning, Domestic Sales, and Automotive Sales. From 2006 to 2017, he served as General Manager at Norm Fasteners Bolts, and since 2017, he has been the Head of Industry Group. In 2024, he graduated from the Harvard Business School Advanced Management Program.
Innovative Robotic Automation Solutions Shape the Era of Industry 4.0
NRM Engineering, a technology company that manufactures robotic automation systems for all companies in the manufacturing sector, operates under Norm Holding. Mehmet Akif Döker noted that following the industrial revolution, the manufacturing sector is undergoing its most significant transformation process. "This process is defined by fundamental concepts led by technology and digitalization. This new era, called Industry 4.0, is shaped by various concepts such as the digitalization of production processes, the IOT, data analytics, big data, artificial intelligence, and robotic technologies. These innovative concepts allow production processes to occur faster, more efficiently, and with fewer errors, while also enhancing the interaction between humans and machines. Factories that successfully adopt these technological applications are termed 'smart factories' and represent a new standard in the industry," he said.
Transforming the Way Customers Overcome Challenges
Adding that production processes in developing countries, particularly those with intensive labor, are significantly affected by this transformation, Döker stated, "In this context, we have long regarded digitization and technological transformation as the most important items on our agenda. We consider it highly important to share the technologies we use and develop not only within our own companies but also with our industry and customers. This approach not only transforms our business model but also the way our industry and customers overcome challenges.
Turnkey Projects Incorporating Custom Robotic Solutions are Featured
In parallel with the growth in the machinery sector, there has been an increasing demand for automation control systems. NRM Engineering produces Robotic Automation Systems for domestic and international clients operating in the manufacturing sector. Within this scope, turnkey projects involving custom-designed systems and machinery, utilizing six-axis, scara, delta, and cartesian robots, robotic quality control, welding applications, and specialized robotic solutions such as Pic&Place are offered.
Providing Services to Various Sectors Such as Fasteners and Packaging
With the active utilization of optical quality control equipment, the company has developed optical machines with NRM Vision Software infrastructure to meet the high production capacity and one-to-one product control needs of the manufacturing sector. These machines, equipped with high-resolution cameras and special lighting design, can perform all measurements and structural checks. Thus, the company provides services to various sectors such as the automotive main and sub industry, glass, fasteners, and packaging. In addition to the project the company developed for one of the world's and Europe's second-largest producer in the glass household goods sector, the company also carries out crack control projects for another customer engaged in wheel production in Germany. With NRM Engineering's profound expertise in the manufacturing sector and its innovative approach, the company aims to offer customized solutions to meet customers' needs, thereby maximizing efficiency and quality in production processes.
Turkish Automotive Exports Increased by 21% to 3.4 Billion Dollars in September
According to the data of the Uludağ Automotive Industry Exporters' Association (OIB), the September exports of the Turkish automotive industry increased by 21 percent compared to the same period last year and reached 3.4 billion US dollars. OIB Chairman of the Board of Directors Baran Çelik said, "In September, we reached the highest export figure to date on a monthly basis. Last month, there was a 40 percent increase in exports for passenger cars and a 30 percent increase in tow trucks. The United Kingdom ranked first in exports on a monthly basis with a 70 percent increase in exports. There was a 106 percent increase in exports to Slovenia and a 59 percent increase in exports to Poland."
Supply Industry Exports Increased by 13 Percent
Last month, exports of the Supply Industry, which is the largest product group, increased by 13 percent to 1 billion US dollars, while exports in Passenger Cars increased by 40 percent to 1 billion 87 million US dollars, Motor Vehicles for the Transport of Goods increased by 12 percent to 450 million US dollars, and Bus-minibusmidibus decreased by 7 percent to 199 million US dollars.
While exports to Germany increased by 9 percent, exports to France increased by 33 percent, the USA by 31 percent, Romania by 64 percent, Spain by 13 percent and Czechia by 108 percent.
In passenger cars, exports to the United Kingdom increased by 85 percent, France by 18 percent, Italy by 37 percent, Poland by 143 percent, Germany by 62 percent, Slovenia by 156 percent and Spain by 54 percent.
In Motor Vehicles for the Transport of Goods, there was an increase of 27 percent in the United Kingdom, 74 percent in Slovenia, 38 percent in Italy, 54 percent in Germany, 148 percent in Spain, while it decreased by 35 percent in France, 41 percent in Australia and 83 percent in the Netherlands.
In the tow trucks product group, exports to the United Kingdom, Belgium and Slovenia reached quadruple digits.
The UK was the Largest Market, up 70 Percent in September
In September , exports to the United Kingdom, the country with the most exports, increased by 70 percent to 438 million dollars. Exports to Germany increased by 7 percent to 425 million dollars and those to France decreased by 1 percent to 346 million dollars. In September, there was a 59 percent increase in exports to Poland, 106 percent to Slovenia, 24 percent to Spain, 34 percent to Belgium, 40 percent to the USA, 37 percent to Romania, 45 percent to Morocco and 54 percent to Czechia, while there was a 38 percent decrease in exports to Bulgaria and 35 percent to Sweden.
Exports to EU Countries Increased by 19 Percent
Exports to EU Countries, which had a share of 67.4 percent in total exports in September, increased by 19 percent to 2 billion dollars. Exports to other European countries, which have a 15 percent share in exports, increased by 70 percent in September. In the previous month, exports to the North American Free Trade Area increased by 43 percent and Oceania Countries by 40 percent, while exports to the Middle East Countries decreased by 45 percent.
News provided by Irem Yaren BAYSAL, Editor of Fastener Eurasia
AMERICAN NEWS
National Machinery Celebrates 150 Years
National Machinery LLC is celebrating its 150th anniversary in 2024. Founded in 1874 by William R. Anderson, National Machinery Company started in Cleveland with a workforce of 10 to supply machinery for manufacturing bolts and nuts. Eight years later, the company moved 90 miles southwest to its current location in Tiffin, OH, on advice of Meshech Frost and other investors.
In 1889, the New York Daily described National Machinery as “a mammoth concern, enjoying the unique distinction of being the only establishment in the world capable of equipping a bolt and nut factory with machinery. They have correspondence and make sales all over the world.” In 1900, Frost’s son, Earl Frost, became GM. In 2002, the company was renamed National Machinery LLC and became part of the NM Group of companies.
Over the decades, National Machinery has evolved. In 2007, the company opened a plant in Suzhou, China. Half of the machines produced at the plant are sold in China. In 2016, the company took a controlling interest in SMART Machinery, the Tortona, Italy-based thread roller machine manufacturer and pioneer in using servo drive technology. Founded in 2001, SMART’s thread roller machinery was developed to replace mechanical drives by high-precision, low-maintenance servo drives for the fastener industry. It also manufactures planetary machines, washer assembly units and pointing machines. National Machinery specializes in advanced cold forming technology, and operates facilities on four continents.
Fastener Manufacturers Support Fuel Standards
The fastener industry is working with manufacturing customers to seek new ways to reduce vehicle weight by reducing the number, type, and weight of fasteners, Design News reports. In terms of number of parts in a vehicle, fasteners can be up to 50% of the vehicle’s bill of material (BOM). Reducing the number of fasteners through innovative fastener technology helps manufacturers meet new Corporate Average Fuel Economy (CAFE) standards, requiring an industry-wide fleet average of 50.4 mpg for passenger cars and light trucks, by 2026.
There are several ways fastener manufacturers are helping automotive OEMs innovate to improve performance, according to Design News.
• “Optimizing production with advanced raw materials allows manufacturers to produce high-performance, cost-effective lighter weight products” with better fuel efficiency and enhanced performance.
• More OEMS are asking fastener engineers to work in an integrated fashion that combines design, analysis, and optimization techniques for lightweighting products.
• Redesigning fasteners can be instrumental in helping address this aspect of product production. For example, moving to lightweight materials, such as going from steel to aluminum, can reduce weight in areas such as in non-structural rivet applications.
“The fastener industry is doing its part to introduce methods to reduce weight in vehicles by consolidating parts, redesigning and re-engineering fasteners, using alternative materials, and generally thinking of new ways to reduce weight and increase performance,” according to Design World.
Industrial Fasteners Market to Grow 3.5% CAGR Through 2030
The global industrial fasteners market, valued at US$91.34 billion in 2023, is projected to grow at a CAGR of 3.5% through 2030, according to Maximize Market Research. The industrial fasteners market is witnessing significant trends, including the miniaturization of fasteners to meet demand for compact and multifunctional products in industries like consumer electronics, healthcare, and automotive.
Additionally, there is a growing focus on innovative fastening technologies that enhance functional permanence and operational efficiency. The trend towards sustainability is also influencing the market, with a shift towards using environmentally friendly materials and processes in fastener production.
Opportunities are emerging from the increasing demand for lightweight and durable materials, particularly in the automotive and aerospace industries. The push towards electric vehicles and advancements in renewable energy infrastructure also present new avenues for growth. The adoption of smart manufacturing technologies and the development of customized fastener solutions for specific applications are additional opportunities that market players can leverage.
The Asia-Pacific region accounts for over 45% of total output. The region’s manufacturing sector is growing rapidly, driven by significant foreign investments and favorable economic conditions.
AMERICAN NEWS
FDI Rebounds on Higher Sales & Deliveries
The seasonally adjusted Fastener Distributor Index (FDI) improved to 53.8 in August (July: 47.5), “mainly on a recovery from last month’s abysmal sales reading, much slower supplier deliveries, and slightly higher pricing,” wrote R.W. Baird analyst David Manthey (CFA) with Quinn Fredrickson (CFA).
Sales, supplier deliveries, and customer inventories drove the improvement, while employment remained flat. “Looking at the sales index specifically, this month saw a nice recovery from a very soft July.”
Nearly 4 in 10 respondents (35%) indicated sales came above seasonal expectations compared to just 22% last month and the 34% average over the past year. An equal amount of respondents said sales were in line with expectations (32% vs. 31% in July) or below expectations (also 32%, July 47%).
Storied Bay Area Fastener Distributorship Shutters
R.J. Leahy Company Inc., a 96-yearold distributorship in San Francisco, has closed permanently after filing for Chapter 7 bankruptcy. The storied company supplied metal fasteners that “held together WWII-era ships, Disneyland art commissions, and historical renovations of restaurants, residences and San Francisco city hall,” according to the San Francisco Business Times.
Founded in 1928 by Ray Leahy Sr., the company prospered in the growing maritime and military industries by offering non-ferrous (non-corrosive) fasteners and copper and brass metal products.
As those industries faded in the Bay Area, R.J. Leahy supplied fasteners and metal products to contractors, architects, artisans, and metalsmiths looking for vintage fasteners.
Field Acquires Cascade Nut and Bolt
Leading provider of fastening solutions, Field, Rockford, IL, USA, announces the acquisition of Cascade Nut and Bolt, a fastener distributor located in Salem, OR, USA. This strategic acquisition will enhance Field’s ability to serve a broader range of industries and expand the company’s geographical footprint to service current and prospective customers. Field has grown on average 18% per year since 1990 and attributes that growth to its special culture and is helping customers save money through its world-class VMI programs and engineering support. The culture is people-focused and places a high value on team members, customers, and suppliers. Cascade specializes in supporting the structural market and industrial OEMs in the Pacific Northwest. Tom Boline, Cascade President, stays on as Sales Leader to grow the structure of Field’s footprint and the Northwest industrial market.
Fastener Hall of Fame & Young Fastener Professional of the Year Awardees
IFE 2024 unveiled the latest inductee into the Fastener Hall of Fame and the 2024 recipient of the Young Fastener Professional of the Year award on September 10, 2024, in Las Vegas, NV, USA. The 2024 Fastener Hall of Fame inductee, Carmen Vertullo, has made extensive contributions to the fastener industry as an engineer, consultant, teacher, and mentor. He has been a fastener consultant and trainer for over 30 years and is the founder of Carver Labs and the Carver FACT2 Center. His expertise covers the areas of Fastener Quality, Fastener Failure Investigation, Expert Witness Work, Hydrogen Embrittlement, Structural Bolting, Bolted Joint Analysis, and Fastener Design. Vertullo is also a founding presenter of the Fastener Training Institute’s (FTI) Certified Fastener Specialist Training Program (CFS) and the 2023 recipient of the NFDA’s Fastener Professional of the Year Award.
Recipient of the Young Fastener Professional of the Year winner, Jake Glaser, currently works with Sherex Fastening Solutions. His first role at Sherex was as a Customer Service Representative, handling national and international accounts. In 2015, he was promoted to Strategic Account Representative, which led him to relocate from Buffalo, NY, USA, to Sacramento, CA, USA, to support the company’s West Coast customers. By 2016, he took on the role of Technical Sales Representative, focusing on growth in the Pacific Northwest and specializing in the Heavy Truck Market. In 2017, he became the Regional Sales Manager for the Western Territories, where he manages territory growth and key national and international accounts. Glaser joined Young Fastener Professionals in 2017 and served as its President from 2019 to 2022. He is excited to continue supporting the industry as a current NFDA Board of Directors member since 2022.
Carmen Vertullo
Jake Glaser
Rotor Clip Introduces New Patented Wave Spring Engineered for the EV Market
Rotor Clip, Somerset, NJ, USA, launched its new, patented InterShim™ Wave Spring design. Engineered for high-acceleration electric motor applications, this design features alternating turns between inactive (flat) and active (waved) turns to ensure reliable performance under torsional loads and precise rotational movement. The introduction of the InterShim Wave Spring reflects Rotor Clip’s commitment to advancing product technology and meeting market needs. InterShim Wave Spring benefits are:
• Engineered to meet the demands of applications requiring high torsional loads and precise rotational control.
• Increased efficiency by eliminating the need for multiple elements within the assembly line.
• Floating ends and bent ends can help prevent damage to the mating surface.
• Allows for higher preload or softer spring rates to meet specific customer requirements.
• Highly customizable in the number of waves, number of turns, arrangement of shims/troughs, and a variety of specialty alloys.
While initially developed for electric vehicle (EV) applications, the InterShim Wave Spring offers benefits for high-speed and high-stress applications across various industries.
3M Has Made & Sold Over 300 Million Friction Shims
3M™ Friction Shims are small, thin steel shims that can increase maximum load and peak torque in bolted connections without additional fasteners or redesigns. 3M announces that it has now made and sold more than 300 million Friction Shims worldwide. 3M Friction Shims increase friction coefficients in torsional and static joints, particularly in demanding automotive applications. Nickel-coated steel shims contain partially embedded diamond particles that resist breakage. When applied with pressure between two mating surfaces, the diamonds “bite” into each surface to create a microform fit. “This is a significant milestone for us because we know 3M Friction Shims help our customers improve their design,” said Amy McLaughlin, President of 3M’s Advanced Materials Division. “We are very proud that we've now made and sold more than 300 million worldwide. 3M Friction Shims are a simple solution for stronger and more stable bolted connections.”
Wrought Washer Manufacturing Acquires TurnaSure
Wrought Washer Manufacturing, Milwaukee, WI, USA, a leader in the production of high-quality washers and fasteners, announced the acquisition of TurnaSure, a renowned manufacturer of direct tension indicator (DTI) washers. This strategic acquisition will bolster Wrought Washer Manufacturing’s product portfolio and further enhance its commitment to providing innovative solutions to the construction and manufacturing industries. The TurnaSure ViewTite® DTI washers are engineered to provide a visual indication of tension in bolted connections, ensuring optimal performance and safety in critical applications. With this acquisition, Wrought Washer Manufacturing will integrate TurnaSure’s advanced technology products into its existing product line. “We are thrilled to welcome TurnaSure into the Wrought Washer family,” said Jeff Liter, CEO of Wrought Washer Manufacturing. “The addition of TurnaSure’s direct tension indicator washers will not only expand our offerings but aligns perfectly with our existing markets. While direct tension indicators are most known in the structural space, we see the opportunity to use the patented product to solve existing bolting issues in the manufacturing sector.” As part of the acquisition, Wrought Washer Manufacturing will retain the TurnaSure brand while leveraging its expertise to expand distribution channels and enhance customer support. The company is committed to maintaining the quality and standards that TurnaSure’s customers have come to expect. “Joining forces with Wrought Washer Manufacturing opens up new opportunities for growth and innovation,” said Jonathan Turner, President of TurnaSure. “With the resources of Wrought Washer, we will continue to set the standard for excellence in the industry.”
News provided by: John Wolz, Editor of FIN (globalfastenernews.com) Mike McNulty, FTI VP & Editor (www.fastenertech.com)
BRAZILIAN NEWS
Böllhoff’s Brazilian Unit Celebrates 60th Anniversary
The headquarters of Böllhoff Brasil has been sitting in Jundiaí town of San Paulo State since 1964. The Group held on October 4, 2024 “a rehearsal”, so to speak, for its big celebration of the year 2027 which will mark an impressive milestone of 150 years since its founding in 1877, through the 60th anniversary of its subsidiary in Brazil which manufactures a wide range of mechanical fastening elements, with strong ties to customers in the automotive sector as a leading fastener provider.
The celebration was dedicated to local employees and executives and was attended by some distinguished guests from the founding period, as well as global directors, Thomas Pixa (CFO), and Wilhelm Böllhoff, who speaks Portuguese well, which makes him a very friendly figure for everyone, according to Flavio Silva, local CEO, corroborated by our team.
Fontana Celebrates 10 Years in Brazil
The Italian Group has consolidated its position in Brazil through the acquisition of Acument in 2014.
As one of the leading global players in the fastener manufacturing industry with over 70 years of experience, the Fontana Gruppo consolidated its presence in Brazil back in 2014. It further solidified its presence by acquiring eleven Acument industrial units located in the USA, Mexico and Brazil. Since then, all operations, including the two facilities of Acument Brasil, have been fully integrated under the Italian Group’s control.
Founded in 1943 in São Paulo, originally under the name Mapri, the company has built a reputation for adhering to the highest quality standards in the supply
▼ Left to right:
Michel Melo (Supply Chain Director), Rafael Lanza (CSO), Rodrigo Pamplona (COO), Vanessa Veloso (CHRO), Edna Murakava (CFO), Wilhelm Böllhoff, Flávio Silva (CEO), Marco Pellizon (CTO)
The closing toast with the Fontana Brazil team. Left to right: Marco Costa (HR Manager), Marilza Vieira (Purchasing Manager), Márcio Silva (Key Account Manager), Nei Teodoro (Latin America - General Director), Rachel Curado (Executive Assistant & Marketing), Fabrizio Fontana (Board Member), Salvatore De Giorgi (COO), Márcio Izidorio (Engineering Manager), Reginaldo Duarte (Engineering Coordinator), Eugenio Zonaro (Key Account Manager), Alexandre Dinardi Bretas (Key Account Manager), Samuel Souza (Key Account Manager Jr.), Ricardo Ramos (Industrial Manager), Daniel Passos (Financial and Controllership Manager)
of fastening systems, particularly for the Brazilian automotive sector (cars, trucks, buses, agricultural, road machinery, and motorcycles).
Under Fabrizio Fontana’s leadership, the company strengthened its position more by expanding its industrial area with the introduction of robust multistage presses and thread rolling machines, along with numerous other investments in laboratories, inspection systems, heat treatment and various other aspects of “Made in Brazil” manufacturing.
With local winter temperatures exceeding 30°C on September 11, 2024, the industrial unit which opened in 2011, in Atibaia, a town 50 km from São Paulo City, SP, by the Fontana Gruppo, celebrated 10 years in Brazil.
The ceremony welcomed several gests from Atibaia officials, Sindipeças (the industrial auto parts national union), customer companies as automakers, auto parts. Fontana-Acument reports having a share of approximately 15% in Brazil, in which it has a fasteners production capacity of 2.5 thousand tons per month, and over 300 direct employees.
Fabrizio Fontana and Salvatore De Giorgi (Board Member and COO of Fontana Gruppo, respectively) travelled from Italy to take part in the celebration. They opened the ceremony with brief speeches, followed by Fernanda Bueno (Interim Development Secretary of Atibaia), and presentations by Nei Teodoro (Latin America General Director) and Hailton Alcantara (Commercial Director) concluded the formal part of the event, which was coordinated by Rachel Curado (Executive Assistant & Marketing). The event was wrapped up on a high note with a tour of the factory, a cocktail party and a special gift for all the guests—a commemorative book celebrating the Group’s 70th anniversary.
The Italian Primat Curtis Group Acquires Prosdac
The Brazilian anti-corrosive coating service company was bought in 2022.
Founded 30 years ago, Prosdac has taken a big step forward since 2022 after being acquired by Primat Curtis, a leading group in surface treatment, with its headquarters in Italy.
Located in Jundiaí Town, S. Paulo State, Prosdac has received robust investment from Primat Curtis which purchased a neighbouring warehouse, increasing the total area to 10,000 m². A new painting line with an overhead conveyor was added, along with two new finishing lines with a new state-of-theart oven, and a lot of investment in people such as introducing English language into daily operations, especially after the new Brazilian operations director, Danny Thompson 46, USA, took the position.
"I have been working in automotive Tier 1 companies in my entire career, almost for 23 years now. I had worked in many divisions across industries such as interior, exterior, stamping, injection moulding, blow moulding, paint, assembly including headliners, consoles, door panels, glove box and digital instrument panels. I am what you can call a turnaround man of excellence", said Danny.
News provided by Sergio Milatias, ‘Revista do Parafuso’ (The Fastener Brazilian Magazine) revistadoparafuso@revistadoparafuso.com www.revistadoparafuso.com
▲
▼ Fabrizio Fontana
Danny Thompson
INDIAN NEWS
Super Screws and Mitsuchi Corp Ink Deal to Start New Plant in India
Super Screws Pvt Ltd, one of the top nut and bolt manufacturers in India, announced the signing of a Memorandum of Understanding (MoU) with Mitsuchi Corporation, a leading Aichi-based provider of custom fasteners for automotive components in Japan. The MoU aims to establish a joint venture for setting up a new plant in India focused on the manufacturing and sale of special cold-forged parts. This move with Mitsuchi Corporation Japan, clearly establishes the intent of Super Screws in fulfilling the rising needs of the local Japanese companies and the burgeoning Indian market.
Delighted to partner with Mitsuchi, SK Kapoor, Chairman, Super Screws Pvt Ltd, stated that the company has always been in pursuit of new and advanced technologies. The partnership, according to him, strengthens the engineering competence of Super Screws and accelerates the localization and manufacturing of coldforged parts for the Indian market and global exports.
Reiterating similar sentiments and to venture into one of the largest automotive markets—India, Samrat Kapoor, Whole-time Director, Super Screws Pvt Ltd, highlighted key offerings from both the parties. He mentioned Super Screws’ expertise in value-focused engineering, manufacturing processes, and customer connections, and Mitsuchi’s technical know-how, global experience, and future technology access, creating a formidable platform for success and growth in India.
Solid
Exports Lift
Sundram Fasteners’ Q1
Net Profit by 17 Percent
Sundram Fasteners reported its standalone net profit for the first quarter of FY25, which rose 17 percent year-on-year to INR 131.64 crore from INR 112.78 crore during the same period of the last fiscal. Profit before tax (PBT) reached the highest for the company, reaching INR 177 crore for the period, and it is 17.4 percent more than the previous year.
Earnings before interest, depreciation, and taxes (EBITDA) for the quarter were INR 223 crore, and the margin was at 17 percent. Gross margins showed an enhancement due to growth in exports, comparatively sound commodity prices, and a favorable product mix.
Operations revenue even grew to a record INR 1,310.33 crore, up 7.7 percent from the previous year. Domestic sales were up by INR 855.75 crore, which was a slight increase from the previous year. Exports surged by 21.5 percent to INR 422.65 crore. Finance costs were down to INR 3.28 crore from INR 5.89 crore in Q1 FY24. Earnings per share for the quarter were at INR 6.26 crore, whereas capital expenditure accounted for INR 148.37 crore. The strong financial performance is boosted by continuous export growth and effective cost management.
Sundram Fasteners’ Preethi Krishna to Sell Part of Holding Company Stake
Sundram Fasteners’ Chairman Suresh Krishna’s eldest daughter, Preethi Krishna, is all set to sell a part of her stake in the holding company of the major automotive components. Preethi, a fourth-generation descendant of the Sundram Iyengar family currently residing in the US, is planning to de-link from the family business.
Preethi’s stake will be acquired by her father Suresh Krishna, mother Usha Krishna, and sisters Arathi Krishna and Arundathi Krishna, further consolidating their control in the holding company, Sundram Fasteners. To finance this transaction, the four family members propose to offer INR 400 crore of Sundram Fasteners shares to institutional investors, including those from the Middle East.
After the proposed transaction, Preethi will be left with a 14-15 percent stake in the holding company, from the present 20 percent, whereas her family members would continue to hold 20 percent each in the company. Currently, the holding company owns 48 percent of the stock in Sundram Fasteners and has a market capitalization of INR 28,000 crore. The sale involves a block deal of 1.5 percent of Sundram Fasteners shares to foreign investors.
Viraj Profiles Revolutionizes the Stainless Steel Industry with Global Excellence
Viraj Profiles Pvt Ltd, from a small-scale industry in Boisar, Maharashtra, has grown to be a world-renowned stainless steel long product manufacturing company over the last three decades. It was started in 1992 by Neeraj Raja Kochhar and has now evolved to become one of the world’s largest manufacturers and exporters in the sector. Operating in 96 countries, it has recently boldly posted a turnover of US$ 1.5 billion.
Some of the products offered are wire rods, wires, welding wires, and stainless steel fasteners, including nuts, bolts, and screws, among others. Viraj Profiles’ range of products also has bright bars and bespoke stainless steel profiles for a range of industries, such as pipeline engineering, construction, chemical & petrochemical, power industries, aerospace, etc.
The company has some of the most modern manufacturing facilities. The modern rolling mill at Boisar has a production capacity of 180,000 tons per annum and can manufacture over 700 types of angles, flats, and other profiles. Viraj Profiles boasts stringent quality control and a fully integrated manufacturing process to ensure high-quality products and regular delivery schedules. It actively participates in environmental conservation activities and is also among the organizations that embrace sustainability at high levels. Some of the strategies include the establishment of a solar power plant of 130 MW DC that provides approximately 40 percent of electrical energy within the compound.
Viraj Profiles is a classic example that embodies the "‘Make in India, For The World' Spirit", demonstrating the level of innovation and competitiveness at the international level.
An Outpost for Keeping Up with U.S. Customers' Needs
International Fastener Expo (IFE), a B2B trade show in the North American market for manufacturers of fasteners, machinery, tooling and peripheral fastening products, took place on September 10-11, 2024, at the Mandalay Bay Convention Center Halls B & C.
More than 600 booths from 35 countries/regions (including the United States, Belgium, Brazil, Canada, China, Germany, India, Indonesia, Hong Kong, Italy, Japan, South Korea, Malaysia, Mexico, Spain, Taiwan, Thailand, Turkey, the UAE, and Vietnam) came to exhibit a wide range of standard/customized products and services for industrial fastening applications on-site (about 380 international exhibitors), and seize the opportunity to secure sales orders, increase brand awareness and explore more opportunities for cooperation.
Fastener World, the organizer’s exclusive sales agent in Taiwan, also brought 60 exhibitors to exhibit this year, including Chin Lih Hsing, Tone Dar Seen, Kwantex, Chu Wu, Gain Den, Chite, L & W, J. T. Fasteners, Kelly International, Fang Sheng, Mols, Special Rivets, A-Stainless, Excel Components, TIFI, Chirek, Wei I, Rexlen, Bi-Mirth, Taiwan Shan Yin, Aimreach, Taiwan Precision Fastener, Katsuhana, Screwtech, Luna's Light, Shiang Ging, J.C. Grand, Link Upon, Dragon Iron, E Chain, Hu Pao, Ji Li Deng, Dicha, Spec Products, Wattson, Dar Yu, Gofast, Meteck, Jung Shen, Soon Port, Standing Industrial, Professional Fasteners Development, Apex, Feng Yi, Huang Jing, Shaw Guang, Pingood, Sintec, Mao Chuan, Shyang Sheng, Patta, Linkwell, Ray Fu, U-Ween, J Mo, Ie Perng, KOT, Kenlon, Orimetal, Shin Guang Yin, Locksure, Jeng Yuh, Label One, Vertigo, and Konfu. Taiwanese exhibitors also formed one of the major international pavilions this year, along with the others from India and China.
LINKWELL MOLS
MAO CHUAN ORIMETAL
PINGOOD
RAY FU
REXLEN SPEC PRODUCTS
VERTIGO
WATTSON WEI I
U-WEEN
PATTA
The show attracted executive management, sales and marketing and purchasing representatives from fastener distributors and manufacturers, mostly from industrial, construction, automotive, assembly production and aerospace applications.
In order to promote industry exchanges and market opportunities, the organizer also invited industry professionals to hold a number of industry seminars. These included 9 presentations on topics such as AI, technology trends, fastener finishes, applications and marketing, 4 fireside chats and 2 workshops (now available for online listening on the show’s official website).
IFE Show Director Morgan Wilson said in a media interview: “We had a great golf tournament and a welcome party the day before the show, and the first day of the show went very well! Not only did we have a number of region and industry-specific networking events that everyone could not miss, bringing together professionals from aerospace, automotive and a variety of other industries, but we also had a Espresso Bar offering free coffee. There were also the annual Hall of Fame and Young Fastener Professional Awards, as well as new marketing workshops. We are thrilled with this year’s success and look forward to raising the bar even higher for next year.”
TONE DAR SEEN
TIFI
SOON PORT
SHIN GUANG YIN
BI-MIRTH CHITE
SHYANG SHENG
CHIN LIH HSING
TAIWAN PRECISION
TAIWAN SHAN YIN
SHIANG GING
CHIREK
SCREWTECH
SINTEC
J. T. FASTENERS
SHAW GUANG
CHU WU
IRON DICHA DAR YU
According to a market research report, the U.S. remains one of the world's largest importers of fasteners. The U.S. market is expected to show a similar growth trend, given the high demand for automation, aerospace and other related industrial applications in the global market. In addition, due to the rising demand for lightweight vehicles and aircraft, many companies are moving away from standard fasteners to customized products, which will stimulate further growth and expansion of the U.S. market for related fasteners. At a time when the U.S. continues to impose a tariff of at least 25% on Chinese fasteners, Taiwan's high-quality fasteners exported to the U.S. without being affected by anti-dumping duties are bound to show a relatively competitive advantage in the eyes of U.S. buyers.
“Through participating at this show, we not only met with our existing customers to understand the current local market situation, but also promoted our main products to some unfamiliar customers. Under the influence of the global economic downturn, the most important thing that our customers are concerned about in terms of procurement is not only the competitive price, but also whether the delivery time can meet their demand. Thanks to Fastener World's assistance, our two-day show could go smoothly,” said Ms. Peggy Chang, who exhibited on behalf of J. T. Fasteners at the show. “However, there are a few short-term phenomena in the U.S. market that we should pay special attention to. I observed that the inventory level of U.S. customers is still high,” said General Manager Bill Wang of Hu Pao Industries, also an exhibitor this year.
Taiwan exported about 640,000 tons of fasteners to the world in the first half of this year, of which nearly 300,000 tons (47.1%) were exported to the U.S., an increase of 1.77% over the same period last year. The top exported fasteners included Other Screws, Bolts (73181590), Nuts (73181600), Self-tapping Screws (73181400), and Wood screws (73181200). Manufacturers who are interested in expanding into the U.S. market are advised to develop more customers for these products.
The organizer announced that the next show will be held on September 15-17, 2025 at Mandalay Bay Convention Center Halls E & F.
Copyright owned by Fastener World / Article by Gang Hao Chang, Vice Editor-in-Chief
IE PERNG LOCKSURE KATSUHANA
LINK UPON
JENG YUH LABEL ONE
KOT
LUNA'S LIGHT METECK L&W
GAIN DEN HUPAO
HUANG JING
CHUN YU
JI LI DENG J MO
JUNG SHEN
J.C. GRAND
The Industry Exchange Platform Closer to Central and Eastern European Buyers
Fastener Poland, the annual professional event for the fastener industry in Central and Eastern Europe, was held at Expo Krakow on Sep. 25-26. More than 140 exhibitors from Poland, Germany, Italy, China, the Czech Rep., Taiwan, the UK, Turkey, Pakistan, Malta, the U.S., the UAE, Denmark, and India registered for the show, with Taiwan and China being the largest overseas pavilions of the show. The exhibits included industrial fasteners and fixings, building fasteners, assembly and installation systems, fastener manufacturing technology, storage and distribution equipment, and related services.
Krakow, once the capital of Poland, has played an important role in Poland's history and is now one of the country's major business, culture and science centers. Poland's proximity to Ukraine, Germany, the Czech Rep., Slovakia, Belarus, and Lithuania makes it a key hub for trade among countries in Central and Eastern Europe. Coupled with the rapid economic development and GDP growth of Central and Eastern European countries in recent years, the demand for construction and automotive fasteners continues to increase. In the first 8 months of 2024, Poland ranked as Taiwan's 9th largest fastener export partner. Taiwan exported nearly 20,000 metric tons of fasteners to Poland, showing a significant increase of 31.69% over the same period of last year. Poland also had the highest YoY increase among Taiwan's top 10 fastener export partners.
CHEN TAI CHITE
DE HUI GOLD HEAD
HOMN REEN
IE PERNG
MAO CHUAN HOPLITE
JOKER
KONFU LIN-YU
JIELE
LOYAL & BIRCH
Optimistic about the future economic development of the Central and Eastern European market, Fastener World also led nearly 30 Taiwanese exhibitors to exhibit and exchange with local buyers face-to-face this year, including De Hui, Gold Head, Ie Perng, Lin-Yu, Loyal & Birch, Ray Fu, Shiang Ging, SPEC Products, Sprout Tooling, Taiwan Precision Fastener, TIFI, Wa Tai, Yuding, Yeswin, Joker, Jiele, Homn Reen, Hoplite, Konfu, Mao Chuan, Riu Fastener, San Yung, Tai Huei, Chite, and Chen Tai. On the first day of the show, many local buyers from Poland came to look for potential exhibiting suppliers. As there were many exhibitors from Taiwan and China this year, it was also more convenient for local buyers wanting to purchase high quality or competitively priced fasteners or even machinery & equipment from Asia. On the first day of the show, the organizer also invited several industry experts to give speeches on market trends.
Although this show is relatively a regional exhibition for the Central & East European market, Fastener World's on-site staff also met visitors from Iceland, the UAE, the UK, and even Ukraine coming to inquire about specific customized products, in addition to inquiries from local buyers. A few Taiwanese exhibitors told Fastener World that they had heard that the Polish market is a new star in the Central and Eastern European market, so in addition to exchanging ideas with local buyers during the show, they also arranged to meet with a few local manufacturers after the show in the hope of bringing more orders back to Taiwan through this business trip. Timo Scholle, Managing Director of Achilles Seibert, a famous fastener importer from Germany, who also participated in this year's show, told Fastener World that it was their first time to participate in Fastener Poland and they hoped to know more about the Polish market and expect more cooperation opportunities.
The organizer has announced that the next edition will be held on Oct. 15-16 at the same venue. For more details about the show, please stay tuned for the latest info at www.fastener-world.com.
Copyright owned by Fastener World / Article by Gang Hao Chang, Vice Editor-in-Chief
TIFI
SPROUT TOOLING
TAI HUEI
RAY FU RIU FASTENER
SAN YUNG
SHIANG GING
WA TAI
YESWIN
SPEC PRODUCTS
TAIWAN PRECISION
YUDING
ACHILL
Recovery Anticipated for European Economy
As Taiwan's eighth-largest export market for fasteners and Europe's second-largest fastener manufacturing nation, Italy has over 200 fastener manufacturers, with more than 75% of fasteners exported globally. Fastener Fair Italy is a grand and international biennial event for the local fastener industry, held this year from October 29 to 30 at the Allianz MiCo Convention Center in Milan. The 4th edition attracted over 200 exhibitors, primarily from Europe, along with exhibitors from Taiwan, China, India, and Turkey. Some exhibitors aimed to reconnect with existing clients to address their needs and provide replenishment services, while seeking to develop new European clients and secure more high-value orders.
Among the exhibitors, there were 12 Taiwanese exhibitors participating this year, including those who registered booths through Fastener World, inlcuding: ChiRek Fastener, Cornwall Enterprise, Joker Industrial, Kai Shyun Enterprise, Mao Chuan Industrial, Ray Fu Enterprise, Vertigo Forming Solutions, Wan Iuan Enterprise, and Chun Yu Works. We observed familiar faces among European guests who had previously attended exhibitions in Taiwan, and in Fastener Fair Italy they visited Indian exhibitors' booths.
Additionally, in terms of Chinese exhibitors, we noticed competition between European companies and Chinese exhibitors at the fair. Some equipment suppliers said that “Chinese exhibitors are competing with many countries in fastener products, and plus,
they offer machinery that is 30% to 50% cheaper than Taiwan’s, coupled with faster delivery times. Their future competitiveness should not be underestimated.” These equipment suppliers hope to gradually shift their focus towards providing smart and higher-quality equipment to European customers.
This fair can be seen as a precursor to Fastener Fair Global scheduled for March next year in Stuttgart, Germany. Most visitors to this event were importers from EU countries, end-users of fasteners (primarily construction fasteners), and distributors. During the two days, Fastener World engaged with many international visitors, including new and known faces, introducing them to Taiwan's outstanding fastener companies while exchanging insights on economic prospects in Taiwan and Europe. Some visitors expressed optimism that the European economy would not decline further and could trend toward positive demand recovery.
The fair’s organizer has yet to announce the date and location for the next edition. For more exhibition updates, follow up on Fastener World's official website at www.fastener-world.com.
AMBROVIT CHIREK FASTENER
CHUN YU WORKS CORNWALL ENTERPRISE FIXI
KAI SHYUN
RAY FU
VERTIGO
MAO CHUAN JOKER
WAN IUAN
Construction and Automotive Fasteners are the Most Inquired Products
Fastener Fair Mexico, which was relocated to be held the year before last in Guadalajara, a major commercial city in Mexico, was held in conjunction with Expo Nacional Ferretera at Expo Guadalajara from September 5 to 7 this year. About 80 exhibitors registered to participate in the event, and most of them came from China, in addition to a few exhibitors from Mexico and Taiwan. With a total floorplan of 3,000 sq. m, this show was regarded as a more professional exhibition platform for fasteners and hardware products in Latin America and a channel to promote communication and exchange with local buyers.
The exhibitors this year mainly showcased fastening products for automotive, construction & engineering, hardware products, energy-related and mechanical metal processing applications. Fastener World, the show’s exclusive stand sales agent in Taiwan, led six Taiwanese fastener manufacturers, namely Hurmg Yieh Machinery, Kay-Tai, Konfu, L&W, Spec Products and Chi Ning, to exhibit a variety of high valueadded and cost-effective products and services, and meet faceto-face with buyers from Mexico and neighboring Spanishspeaking countries. However, perhaps due to the indirect impact of external unfavorable factors such as global political and economic changes or the periodic industrial demand adjustments within the region, the 3-day exhibition attracted about 2,000 visitors according to the show organizer’s statistics. There is still a lot of room for growth in the number of visitors compared to the original expectation.
According to the on-site observation of Fastener World's staff, the visitors coming to Fastener World's booth this year mainly inquired about automotive and construction fasteners, and preferred collaborating with suppliers who have already established a deep-rooted presence in the Latin American markets . In addition, since Spanish is the main medium of communication among local manufacturers, those who are interested in entering the local markets should pay special attention to the availability of professionals who can communicate in Spanish.
In terms of import duty rates, in order to curb unfair competition from countries/regions that do not have a free trade agreement with Mexico, on April 22, 2024, the Mexican federal government announced another revision of the duty rates on specific product items, including fasteners. Originally, the ad valorem duty rate of the involved fasteners (falling within HS codes 7318.11.01 / 7318.12.91 / 7318.13.01 / 7318.14.01 / 7318.15.04 / 7318.15.99 / 7318.16.06 / 7318.19.99 / 7318.22.91 / 7318.23.02 / 7318.24. 03 / 7318.29.99) was 25% per kilogram. Starting from April 23, 2024 to April 23, 2026, the rate will be temporarily adjusted to 35%.
The organizer has also announced that the next edition will be held on September 4-6, 2025 at the same venue. For more information about this show or if you are interested in exploring the American market, please contact the sales dept. of Fastener World, the show’s exclusive sales agent in Taiwan (Email: foreign@fastener-world. com.tw) for more information.
CHI NING
KAY-TAI
HURMG YIEH
KONFU
L & W
Many Chinese and Indian Exhibitors Target Korea's Domestic Market
Korea's annual manufacturing industry event, Korea Metal Week, was held from October 16th to 18th at Center 1 of the KINTEX exhibition ground, with the support of a number of local Korean manufacturing industry associations.
Nearly 300 exhibitors from Korea, China, India, Japan, Germany, Canada, Italy, Switzerland, Spain, Taiwan, the U.S., Russia, and Cyprus came to showcase a variety of industrial metal products and peripheral equipment & services. In addition to the largest number of Korean local exhibitors, about 90 Chinese exhibitors formed the largest international pavilion at this year's event, while the second largest pavilion was from India (more than 20 exhibitors), showing Chinese and Indian exhibitors’ optimism about the recent domestic market in Korea.
The show was divided into 14 thematic zones, including: Fastener & Wire, Foundry & Die-Casting, Automobile & Machine Parts, Press & Forging, Tube & Pipe, Surface Treatment & Painting, 3D Technology, Aluminum, Laser & Welding, Fundamental Manufacturing Technology, Pump Technology Industry, Tools, Composite, Control, Measurement & Automation. The clear separation of exhibits made it easy for buyers to find interested exhibitors quickly. During the first two days of the show, the organizer also invited experts and representatives to hold a total of 13 seminars on ESG, vehicle lightweighting, environmental sustainability, and injection molding technology, which are the most concerned topics in the industry. “This show offers an exceptional opportunity to meet domestic and overseas buyers and exchange ideas on relevant technologies in the industry,” said Hongyu Lee, CEO and Chairman of the show.
Fastener World also participated as exhibitor in the “Fastener & Wire” zone this year and interacted with many Korean buyers. According to our observation, most of the visitors who came to Fastener World's booth were small and medium-sized fastener traders or importers, and some of them acclaimed that Fastener World Magazines are a worth-reading industry toolkit, which is very helpful for them to find suitable manufacturers to place orders.
Korea is one of the most important industrial products exporting countries in Asia, and the development momentum of its supply chains of metal parts processing and manufacturing is more mature and robust than that of other emerging countries in Southeast Asia. Its demand for fasteners for automotive, electronics/3C and heavy industries is more obvious. The latest Korean official statistics show that Korea's exports in September 2024 set a new record for the largest single-month export, and showed growth for the 12th consecutive month. Coupled with the competitive advantage created by the signing of FTAs with Europe and the U.S., Korea’s exports to Europe, the U.S., the Middle East, China, and ASEAN all showed growth as well.
Copyright owned by Fastener World / Article by Gang Hao Chang, Vice Editor-in-Chief
Countries Still Being Optimistic About Vietnamese Metal Processing Market
Metalex Vietnam is an annual exhibition for precision engineering and manufacturing professionals on metal processing and related equipment applications, and is the more representative exhibition for precision machinery, metal tools and equipment in the South Vietnam region, which was held from October 2 to 4 at S.E.C.C. in Ho Chi Minh City. The theme of the show this year was “FROM LINES TO CYCLE - BUIDLING A CARBON NEUTRAL MANUFACTURING LEGACY”, hoping to offer a one-stop destination for all world-class technology providers and local industrialists to exchange breakthrough ideas and business know-how.
The show this year had a total of 188 exhibitors from 15 countries/regions including Vietnam, China, Japan, Germany, Taiwan, South Korea, Italy, Afghanistan, Hong Kong, India, Malaysia, Singapore, Thailand, and USA. Vietnam, China, Japan and Germany were the major groups of exhibitors. The products on display were mostly about sheet metal working, precision engineering, molds and dies, automation, machine centers, robotic, metrology & testing device, pumps and valves, raw materials handling & storage, welding, surface treatment, painting, chemical, packaging, hand tools, safety equipment, software systems, wires and tubes, jigs, and so on.
The show this year presented lots of latest high-tech precision engineering and machining technologies, attracting many relevant professionals. According to the observation of our staff on-site, who interacted with some visitors during the 3-day exhibition, this year's visitors were mostly importers and manufacturers from the field of precision metal processing parts, engineering fastening components, and machine tools, whose demand for these products mainly focused on satisfying the local manufacturing industry of Vietnam. Fastener World’s booth was also visited by the purchasing representatives of some leading fastener-related companies such as Böllhoff.
According to statistics, Vietnam relies on imports for more than 70% of its machinery and equipment, and is now the world's 8th largest importer of machine tools. Benefiting from the growth of Vietnam's automobile/motorcycle and consumer electronics manufacturing industries, Vietnam is also a very important export partner for Taiwan's machine tools. Vietnam Association of Mechanical Industries (VAMI) estimates that, from 2019 to 2030 the market demand for machinery will reach about US$310 billion.
The organizer has not yet announced the date and venue for the next edition. For more information, please stay tuned to Fastener World’s website at www.fastener-world.com.
Copyright owned by Fastener World / Article by Gang Hao Chang, Vice Editor-in-Chief
AI and Low Carbon Become Focused Issues
International Hardware Expo Taiwan (IHT) took place on Oct. 16-18 at Taichung International Exhibition Center and was co-located with Taiwan International Tools & Hardware Expo (TITE Expo) at the same venue. The Expo was divided into 7 thematic zones, including Tools & Accessories, Automotive Part & Maintenance Equipment, Garden/Outdoor/Agricultural & DIY, Building & Locks, Metal Processing Equipment & Work Safety, Fasteners & Fitting, Smart Manufacturing.
The location of the Expo was close to the hardware & hand tool industry clusters in Central Taiwan, making it easier to attract the neighboring professional hardware & hand tool companies to visit the Expo to observe the industry's updated technology or to look for cooperation opportunities. This year's show was based on the theme of “LESS”, with special emphasis on the trend of low carbon, environmental protection, energy saving and sustainability. According to the official data released after the Expo, there were more than 270 registered exhibitors this year with an exhibition area of 7,000 sq. m, hoping to win more domestic and overseas orders through the 3-day exhibition in Taiwan, which has an annual export of more than NT$100 billion.
According to the on-site observation of Fastener World's staff, this year's exhibitors were mostly hand tools, small hardware and gardening peripheral products exhibitors, and relatively few fasteners and fasteners exhibitors. Domestic manufacturers and small and medium-sized OEMs made up the majority of the visitors, with fewer foreign buyers. However, there were also some buyers who mainly purchased hardware and hand tools at the screw exhibitors' booths, hoping to expand their product offerings.
In order to enable participants to learn first-hand about AI automation, digital transformation, energy saving & carbon reduction, industrial energy, carbon fees, government resources and generational heritage, the organizer also invited IDA of MOEA, Taiwan Hand Tool Association, and a number of colleges/universities, large manufacturers, and expert reps to deliver keynote speeches. Chairman Lai of Taiwan Hand Tool Association, said in his speech that the hand tool industry in Central Taiwan has a solid foundation. Mr. Chih-Ching Yang, Director General of IDB of MOEA, said that the government will continue to promote AI and low-carbon transformation and help enterprises maintain their competitiveness through favorable policies such as the special budget for the post-pandemic period, the cultivation of AI talents, and rental tax incentives.
The next edition of the Expo will be held at the Taichung International Convention & Exhibition Center, and the organizer is looking forward to further enhancing the strength of Taiwan's hardware industry and its supply chain through a better exhibition environment.
TCBAM Frontline Roundup: Countermeasures for the CBAM Adjustment Period
he EU is making adjustments on the go in the abrupt progression of CBAM. Business owners are learning the ropes of CBAM by doing and feeling overwhelmed. CBAM is still a whirlpool with unknown depth, and there could be quite some variables in the modification of the rules. Owners must have ready resources to respond to potential changes in CBAM before it takes full effect in 2026, in order to prevent depletion of workforce and capital.
This article explores the progress of EU CBAM disclosed this September by the overseas press and institutions. It will get you to know what is happening in the adjustment period of CBAM, the external doubts and recommended countermeasures, and help you examine the situation of your own company and the paths you can take in the future.
Importers on a Continuing CBAM Learning Curve
Since CBAM entered the transitional phase last October, importers have encountered many difficulties when using the designated CBAM interim reporting platform, which delayed the submission of the first report. Therefore, the European Commission extended the deadline for fulfilling CBAM reporting obligations originally scheduled for January 31 this year, and did not punish importers who were unable to submit reports in time due to technical issues.
To resolve the difficulties, the International Chamber of Commerce (ICC) issued an open letter to the European Commission. In addition to requesting to simplify the exchange of information and processes, ICC made three specific requests:
1. That the deadline for submitting reports be extended to the end of 2025.
2. Allowing submitting reports on platforms other than the designated reporting platform.
3. That importers from third countries submit information taking into account carbon emission directly to the CBAM portal, due to the fact that importers found suppliers and operators from third countries are reluctant to share the information.
CBAM has been on trial run for a year and the transitional period is still here to stay. There remains to be a lot of opinions provided by external parties, which may eventually change the details of CBAM. It could be a sudden change and requires more attention.
The Asian Development Bank (ADB) has questioned that the EU carbon tax has only limited effectiveness in improving climate change and has limited economic impact on the AsiaPacific region. According to the ADB's statistical model in 2024, CBAM can help reduce less than 0.2% of global carbon emissions. In addition, according to the Asian Economic Integration Report (AEIR), CBAM may cause global exports to the EU to decrease by approximately 0.4%, and Asian exports to the EU to decrease by approximately 1.1%.
ADB pointed out that "carbon pricing initiatives can only limit part of carbon leakage. In order to significantly reduce global carbon emissions, carbon pricing initiatives need to be expanded to other regions outside the EU, especially to Asia with a high proportion of carbon-intensive exports towards Europe". Carbon emissions in Asia are growing faster than in other regions. In addition to China and India, manufacturing investment in Southeast Asia has increased significantly in recent years, and therefore there is room for increase in carbon emissions in the future there. In this regard, both Thailand and Vietnam plan to levy carbon taxes in 2025.
CBAM Could Harm EU Manufacturers?
When CBAM is expanded to other industries, the free quotas for certain local manufacturers in the EU will also be phased out. However, among EU's import sources for industries subject to CBAM, nearly threequarters come from EU member states. Take the steel industry for example, among EU’s import sources, the 27 EU countries account for as much as 77.3% (data source: World Bank), China only for 5.2%, India for 2.6%, UK for 2.5%, and the U.S. for 1.2%. This means that phasing out the free quotas may lead to increased production costs in EU member states.
If the scope of CBAM is not expanded to cover carbon emissions from downstream industries, CBAM at the current stage may disproportionately harm the competitiveness of EU manufacturers. ADB points out that CBAM may help combat carbon leakage as a result of the EU emissions trading system by bringing manufacturing back to the EU, but CBAM may cause EU downstream manufacturers to move part of their production outside the EU, and in turn increase carbon leakage.
EU is one of the world's largest producers of automobiles and machinery. CBAM and the gradual phasing-out of
free quotas will lead to an increase in steel prices, which may have a major impact on production costs and exports of the automotive, machinery and other industries, thereby undermining the competitiveness of EU manufacturers.
It’s
Best to Prepare Ahead than to Regret Later
It is already known to everyone that the carbon tax will become a new massive expenditure in global trade, with a huge financial impact. While the financial impact of CBAM is expected to become visible by 2026, it is critical to prepare right now. Thomson Reuters recommends that future potential legal and financial risks can be mitigated by taking steps in advance, including:
1. Hire dedicated personnel or analytical experts to help your company determine the scope of impact.
2. Deploy your company's global supply chain. Assess and identify affected suppliers and identify those that comply with CBAM regulations.
3. Modify the terms and conditions in supplier contracts to require accurate and timely embedded emissions data for CBAM commodities. Require working with suppliers on data improvement, clearly define suppliers’ responsibility for CBAM compliance, specify which party is responsible for carbon certificate fees, and outline the consequences for non-compliance. Consider adding provisions regarding confidentiality and data storage.
4. Develop CBAM reporting process. Establish processes for collecting and storing embedded emissions data, including who in the supply chain holds this information, who will contact suppliers, and who will work with suppliers.
5. Identify products with lower embedded emissions. Assess and analyze your supply chain to identify additional sourcing options for products that could have lower carbon emissions.
6. Exporters selling to Europe should also take measures. Exporters should proactively identify products that are subject to CBAM and should be reported. They should review the methods used to calculate emissions and ensure that they have methods to collect the necessary data. They should ensure that there is a process for collecting, storing, calculating and sharing the required information.
It is less than a year and one month before CBAM takes full effect. CBAM carbon tax will be one of the largest tax expenditures on the planet. The impact on manufacturing and trading costs is yet to be accurately quantified and assessed. Responding in advance is the best defensive strategy to deploy stop-loss in advance, and the best offensive strategy to win orders in the future.
Copyright owned by Fastener World / Article by Dean Tseng
Taiwan's Carbon Fee Era - The Future of the Fastener Industry (Part I)
On July 14, 2021, the EU announced that it will formally implement the Carbon Border Adjustment Mechanism (CBAM) declaration starting from 2026 and the levy of carbon border tax starting from 2027, with the purpose of preventing carbon leakage. The “carbon leakage” refers to the situation when enterprises in response to climate change move their production out of their country or import products of the same type with lower costs from the places with less stringent carbon emission regulations (such as carbon tax and carbon fee) resulting in higher production costs. As there is only one Earth, the greenhouse gas emitted in regions with less stringent carbon emission regulations will have an impact on the global greenhouse effect in all corners of the world when it is emitted into the atmosphere. CBAM stipulates that if a producer country pays a carbon fee or tax in its home country, the amount can be deducted from the CBAM tax. Therefore, Taiwan's Ministry
of Environment has been actively legislating since July 15, 2021 to respond to the EU CBAM.
The Climate Change Response Act (CCRA) finally passed by Taiwan’s Legislative Yuan on Feb. 15, 2023 aims at responding to global climate change, formulating climate change adaptation strategies, reducing and managing GHG emissions, implementing intergenerational & environmental justice and a just transition, fulfilling the responsibility of jointly protecting the global environment, and ensuring the country's sustainable development in order to meet the carbon tax requirements of the EU CBAM and the U.S. Clean Competition Act (CCA). Taiwan's Ministry of Environment has been actively working on the relevant regulations during this period, and the GHG regulations that have been announced by the end of September 2024 are summarized in Table 1
1. Greenhouse Gas (GHG) Regulations of Taiwan with Their Announced Dates
Figure 1. The Analysis of Industries Targeted for Carbon Levy
On Aug. 29, 2024, Taiwan’s Ministry of Environment announced the Carbon Tax Act, formally declaring that Taiwan's carbon fee era will officially begin on January 1, 2025, specifying that the levy will be imposed on the power, iron & steel, plastics & chemical, and the large-scale manufacturing industries, and announcing the calculation methods of carbon fee and emission reduction/offsets, which means that 2025 will be the starting year of carbon fee and that Taiwan will officially step into the era of “those emit should pay”. The first batch of levy targets are the power and manufacturing industries that should be audited, registered and checked for sources of GHG emissions, whose total annual direct GHG emissions from all factories and indirect emissions from the use of electricity amount to 25,000 metric tons of carbon dioxide equivalent or more. There are 281 enterprises (500 factories) in total. Figure 1 is an extract from Taiwan’s Ministry of Environment's presentation on the analysis of industries targeted for the carbon levy, in which the iron and steel industry is the first in terms of carbon emissions, and it is also the industry that will be emphasized in the reduction of carbon emissions in the future.
By the end of May 2025, the carbon levy targets must calculate the amount of fee payable according to the announced fee rate based on the GHG emissions of the enterprises from January 1 to December 31 of the previous year, fill in the carbon fee declaration form and payment slips, and then submit the carbon fee of the previous year to the collection account of the financial institution designated by the central authority, and then submit the declaration online to the central authority. Please refer to Figure 2 for Carbon Fee Rate Setting and Collection Timeline. The carbon fee rate has been finalized on Oct. 7, 2024, with a general rate of NT$300/ton of CO2e, a preferential rate “B” of NT$100/ton of CO2e for the technology benchmark designation, and an even more preferential rate “A” of NT$50/ton of CO2e for those who choose to go for the industry-specific designation with the highest international carbon reduction standards. The rate will come into effect in 2025, and the carbon fee has to be declared in May of that year (but no payment is required), which means that the carbon fee will not be required to be paid for the first time (the carbon fee for 2025 emissions) until May 2026, and the time for payment is to be able to tie in with the 2026 schedule of the EU CBAM.
The calculation of carbon fee is another key concern of the industry. According to Article 5 of the Carbon Fee Charging Regulations, the carbon fee is calculated by multiplying the charged emissions by the charging rate, and according to the press release of Taiwan's Ministry of Environment on October 7, 2024, reading “ High-carbon leakage utilities will initially be entitled to a discount on the emission factor in the carbon fee formula, but it has not yet been specified which industries will be eligible and will need to be released in H1 2025 based on the latest industry correlation table from DGBAS, and further discussions with Taiwan's MOEA." It is not yet known, and the collated fee model is shown in Figure 3
In accordance with the “Designated GHG Reduction Objectives for Carbon Levy Targets” and “Measures for the Autonomous Reduction Program”, enterprises that are subject to the carbon levy may propose their own “autonomous reduction program” to reduce their carbon levy as long as they are able to effectively reduce their GHG emissions and meet the “designed objectives” of the central authority.
Taiwan CSC's GHG emissions from 2019 to 2023 as disclosed in its 2023 Sustainability Report are shown in Table 2. The table of CSC's GHG emissions from 2019 to 2023 shows that CSC's GHG emission intensity in 2023 was 2.326 tons of CO2e per ton of steel billet, the same as that of 2022, and was
higher than that of 2021 (2.301 tons of CO2e per ton of steel billet), which might be due to the decrease in revenue in 2023 (please refer to Table 3 ) not reaching the economic scale of production capacity, resulting in an increase instead of a decrease in the intensity of GHG emissions. Based on Taiwan CSC's 2023 GHG emissions (Scope 1 and Scope 2) of approx. 18,055,8557,000 tons of CO2e, and deducting the K value of 25,000 tons, the amount of carbon emissions that need to be paid is 18,035,570,000 tons of CO2e. If calculating at NT$300 per ton of CO2e, the amount of carbon fee that Taiwan CSC needs to pay is approx. NT$5.4 billion. If Taiwan CSC chooses the highest international standard for carbon reduction in the industry-specific designation of the target, and applies a more favorable rate A of NT$50 per ton of CO2e, the carbon fee it must pay is approx. NT$900 million. Taiwan CSC’s financial report for 2019-2023 ( Table 3) shows that the total turnover in 2023 was NT$197.149 billion and the carbon fee will account for 0.45%~2.73% of the total turnover, and this amount, if not self-absorbed, will be transferred to the prices of its products.
Figure 2. Carbon Fee Rate Setting and Collection Timeline
Source: Taiwan’s Ministry of Environment
Figure 3. Carbon Fee Charging Provisions and Models
As shown in Table 2, Taiwan CSC’s GHG emissions in 2019-2023 are mainly in Scope 1 (Category 1 of ISO 14064-1:2018 Edition), focusing on stationary sources of combustion, with coal being the largest consuming energy source. Before 2021, coal was used for metallurgy and fuel, and coal has been only used for metallurgy since 2022, and fuel coal has been replaced with natural gas and low-sulfur fuel oil, and the consumption of natural gas and low-sulfur fuel oil has increased significantly from 2022 onwards. This article cites the energy consumption description of Taiwan CSC's Sustainability Report. Table 4 shows Taiwan CSC's energy consumption in 2021- 2023.
Source: Taiwan CSC 2023 Sustainability Report p.8
Taiwan CSC's self-imposed carbon emission targets (using 2018 as the base year) are to reduce carbon emissions by 7% by 2025, 25% by 2030, and to achieve carbon neutrality by 2050. Taiwan CSC's short/medium/long-term carbon reduction programs include short-term investment in solar photovoltaics to meet the short/ medium-term demand for renewable energy in the plant as much as possible, as well as long-term inventory of low-carbon energy demand, investment and purchase planning, and active investment in industry-academia cooperation programs to bet on the R&D of new and emerging low-carbon steelmaking technologies, including the addition of reduced iron, the use of hydrogen injection at the blast furnaces to replace coal, and the capture and application of carbon.
At present, whether it is the carbon fee levied by Taiwan or the CBAM levied by the EU, the mode of offsetting between the two sides has not yet been decided. On September 16, 2024, Taiwan’s Minister of the Environment and its affiliated dept. of Climate Change went to the relevant organizations in the EU for view exchanges on climate change, carbon trading, and air quality management. However, the details of the deduction will be known only after the announcement of the details of “how to deduct the carbon pricing paid by third countries” and “the harmonization of the free allocation and CBAM system under the EU ETS” in the next year (2025).
(Editor's Note: Carbon tax measures have a significant impact on industry development, and Taiwan is no exception. In this issue, we have explained in detail Taiwan's future carbon tax collection model, calculation criteria, and current progress. The next issue of Fastener World Bimonthly Edition (Jan 2025) will continue this topic, and analyze in-depth the carbon tax declaration.
Copyright owned by Fastener World / Article by Dr. Wayne Sung
Table 2. Taiwan CSC'S GHG Emission in 2019-2023
Table 3. Taiwan CSC ’s Financial Report for 2019-2023
Table 4. Taiwan CSC's Energy Consumption in 2021- 2023
AI? Low Carbon?
What Would be the Next Focus
for German Fastener Industry?
The German industrial landscape is at a crucial crossroads. Technological advancements like artificial intelligence (AI) and the urgent need to reduce carbon emissions are driving unprecedented transformation across sectors. While these forces are already reshaping industries such as automotive, aerospace, and construction, the fastener industry faces its own set of challenges and opportunities. As AI continues to revolutionize production processes and the push for lowcarbon manufacturing intensifies, the future of fastener manufacturing in Germany will depend on how well it adapts to these trends. But beyond AI and low carbon, what lies ahead?
The Global Push for Sustainability and Digital Transformation
Globally, industries are under pressure to decarbonize, spurred by environmental regulations, climate change commitments, and increasing consumer awareness. The European Union’s ambitious climate goals, driven by the European Green Deal, aim for net-zero emissions by 2050, putting German industries under heightened scrutiny. In parallel, the rise of AI and digitalization, particularly in manufacturing, has been transformative. Industry 4.0, built on AI, IoT, and automation, is paving the way for more efficient, intelligent, and sustainable production processes.
These two forces—sustainability and AI—are critical not only in reducing environmental impact but also in staying competitive in a fast-evolving global market. As Germany is a leader in both environmental policy and industrial technology, these trends are particularly relevant in its manufacturing sectors, including the fastener industry.
Low Carbon and AI in the Fastener Industry
German fastener industry, integral to sectors such as automotive and aerospace, has been quick to adopt greener practices and AI-driven technologies. Fastener manufacturing, which involves energy-intensive processes like forging, heat treatment, and surface coating, presents significant challenges for carbon reduction. However, AI has the potential to reduce emissions by optimizing energy use, streamlining production, and improving material efficiency.
AI in Fastener Manufacturing
Artificial intelligence is increasingly being integrated into manufacturing to optimize processes. In Germany, a leader in Industry 4.0 adoption, AI applications are helping fastener companies enhance productivity, reduce waste, and minimize energy consumption. For example, AI can monitor and adjust energy use in real-time, significantly cutting down the carbon footprint of energy-intensive production processes. By predicting equipment failures and ensuring preventive maintenance, AI can reduce downtime, improving operational efficiency and extending the lifecycle of machinery, which also indirectly lowers emissions.
Furthermore, AI is playing a crucial role in quality control. In an industry where precision is paramount,
especially in sectors like automotive and aerospace, AI-powered systems can detect minute defects or inconsistencies that would be missed by human inspection. This not only ensures higherquality fasteners but also reduces waste, contributing to more sustainable manufacturing practices.
Low-Carbon Solutions and the Energy Transition
Germany’s industrial sectors are being driven to decarbonize under strict regulatory frameworks. For fastener manufacturers, this means exploring new ways to reduce emissions across their supply chain. The adoption of renewable energy sources, improvements in energy efficiency, and the use of low-carbon materials are essential strategies.
Germany fastener industry is closely tied to the automotive sector, where the transition to electric vehicles (EVs) is driving innovation in lightweight, sustainable fasteners. EV manufacturers need lighter, more efficient components to improve the vehicle range, and fasteners made from advanced materials like carbon fiber composites are becoming increasingly important. These materials reduce vehicle weight, which improves energy efficiency and lowers emissions, aligning with Germany’s push for low-carbon transport.
What’s Next for German Fastener Industry?
While AI and low-carbon technologies are already driving transformation, the future of German fastener industry could be shaped by a combination of factors:
1. Circular Economy Practices
A key aspect of Germany’s sustainability strategy is the shift toward a circular economy, where products are designed for reuse, recycling, or repurposing. For the fastener industry, this
could mean designing fasteners that are easier to disassemble and recycle at the end of a product's life cycle. AI can be instrumental in this shift by optimizing design processes to minimize waste and ensure compliance with recycling standards.
Germany’s strict waste management regulations, coupled with its strong emphasis on sustainable manufacturing, will push fastener companies to adopt circular economy principles. Companies that can create fasteners with longer lifespans or that are more easily recyclable will have a competitive advantage.
2. Advanced Materials and Sustainable Alternatives
The development of new, more sustainable materials will be critical. As industries like automotive push for more lightweight, durable components, the fastener industry will need to innovate in areas such as advanced composites and sustainable alloys. Materials science, combined with AI-driven research and development, can lead to breakthroughs that significantly reduce the carbon footprint of fasteners.
Additionally, Germany’s commitment to reducing resource consumption will likely drive innovations in material efficiency. Fastener manufacturers may explore ways to use fewer raw materials without compromising product integrity, aligning with the country’s broader sustainability goals.
3. Collaborations with German Industry Giants
Given the importance of the fastener industry to sectors like automotive and aerospace, close collaboration with Germany’s industrial giants will be essential. As those companies push for greater sustainability across their supply chains, fastener manufacturers will need to keep pace. This includes developing fasteners that meet the unique demands of electric vehicles, renewable energy infrastructure, and other emerging technologies.
AI can help fastener manufacturers tailor their products to meet the evolving needs of these industries, enabling them to remain integral to the supply chains of some of the world’s largest companies.
Conclusion: AI and Low Carbon as Foundations for Future Growth
German fastener industry, rooted in a tradition of engineering excellence and precision, is well-positioned to lead in both sustainability and digital transformation. AI and low-carbon technologies will be the foundation of this evolution, helping companies reduce their environmental impact while remaining competitive on the global stage.
The next phase of growth for the industry will likely come from a combination of circular economy practices, sustainable materials innovation, and deep collaboration with key industries like automotive and aerospace. As Germany continues to push the boundaries of what’s possible in terms of both sustainability and technological advancement, the fastener industry will play a key role in shaping the future of its industrial landscape.
By fully embracing AI, low-carbon strategies, and sustainability-driven innovation, German fastener industry can ensure it remains at the forefront of global manufacturing while meeting the country’s ambitious climate goals.
Sources:
Will AI accelerate or delay the race to net-zero emissions? by Nature
Industry 4.0 in Germany 2023: Your Ultimate Cheat Sheet by Scaler 8
Low-CO2 emissions projects, detailed map and pathways by EUROFER
Artificial Intelligence 2024 by Chambers and Partners
Copyright owned by Fastener World
Article by Shervin Shahidi Hamedani
Taiwan Fastener Export M arket Development and Outlook for 2025
1. Introduction
On January 17, 2024, CommonWealth Magazine published a report titled "World Economic Forum: How 800 CEOs Think About the Economy in 2024," which revealed a survey result that 45% of the CEOs expect the economy to enter a recession, significantly down from 73% last year. Only 18% of the CEOs believe their companies will be affected by geopolitical issues in the next 12 months. Executives in the banking and finance sectors expressed concerns that the impacts of the Ukraine war and Middle Eastern conflicts have not yet fully reflected in the markets, worrying about significant fluctuations in oil and energy prices. In 2024, over 60 countries will hold elections, affecting about half of the global population. The Central Bank of Taiwan forecasts the global economic and financial landscape, saying there is “an upward reversal in manufacturing and service sector outlooks, which will increase global economic growth momentum 2024; and trade growth is also expected to rebound. However, due to high interest rates, S&P Global Market Intelligence predicts a slight decrease in global economic growth from 2.7% last year to 2.6% in 2024, remaining stable at 2.6% in 2025.” It is anticipated that manufacturing will shift from contraction to expansion. Additionally, the service sector's PMI continues to rise from its lowest point, indicating accelerated expansion in the service sector. The outlook for both manufacturing and services is reversing upward and becoming more optimistic, with expectations for global economic growth to regain momentum in Q2 to Q3, 2024 (Fig. 1). It is also expected that the global trade volume will increase over the next two years due to a recovery in commodity trade, expanded opportunities in emerging technologies, and a strong rebound in international tourism (Table 1). The forecast for global economic growth in 2024 is 2.6%, slightly lower than last year's 2.7%, and expected to remain flat at 2.6% next year.
However, with rising bond yields in major economies and an upward trend in global stock markets, will Taiwan's fastener industry also show signs of recovery? Is the global fastener market demand being impacted by rising international oil prices and the expansion of overall global inflation? Or is it experiencing price drops due to weak economic conditions in China? Since 2023, Taiwan's fastener industry has felt the severe market changes following the COVID-19 pandemic, making it quite challenging for fastener companies. Global fastener market customers have significantly replenished inventories due to post-COVID-19 shipping conditions;
however, the pace of inventory reduction has been slow after the pandemic situation improved. Additionally, international conflicts such as the Ukraine war and Middle Eastern tensions have affected global shipping conditions. As a result, Taiwan's fastener industry faces ongoing uncertainty amid a harsh market environment. Although the government supported Taiwan International Fastener Show scheduled for June 5-7, 2024, whether this event can inject vitality into Taiwan's fastener export market remains to be validated through the exhibitors’ actual export statistics and customs data for fastener products, through which we can evaluate the status and prospect of the fastener export market.
Fig. 1. Global
Source：J.P. Morgan
Table 1. Global Trade Volume Growth Rate Unit: %
2. Customs Export Statistics for Taiwanese Fastener Products
After World War II, many American and European countries moved basic manufacturing to Asian countries due to factors like labor costs, providing development opportunities for Taiwan's fastener industry. The structure of Taiwan's fastener industry includes upstream, midstream, downstream, and peripheral distributors, forming a complete ecosystem. Today, Taiwan ranks as the third-largest fastener exporter globally and holds a leading position in the international fastener industry. The demand for global fastener products can be observed through Taiwan's actual export value and weight data. In other words, changes in Taiwan's actual export value and weight can also be used to assess shifts in global market demand for Taiwanese fasteners. Since changes in export value and weight involve fluctuations across upstream, midstream, downstream industries and peripheral distributors, we can observe these statistics to present and predict the market conditions faced by fastener companies.
Analyzing the trends before and after COVID-19, I compared customs export values and annual export value growth rates for Taiwanese fasteners from Q1 2021 to Q2 2024 (Table 2) along with statistics on annual export weight growth (Table 3).
Observing the data on Taiwan's fastener export value: The customs value of Taiwanese fasteners exported globally rose from USD 1,192.27 million per quarter in Q1 2021 to USD 1,593.66 million per quarter in Q2 2022, but began declining from Q4 2022 to only USD 715.68 million per quarter by Q2 2024. When examining Taiwan’s export value statistics categorized by regions such as Europe, North America, Latin America, Oceania, and Asia from Q1 2021 to Q2 2024, North America remains the primary market followed by Europe, Asia, Latin America, and Oceania. Thus, there has been little change in the ranking of regions for Taiwanese fastener exports; however, since Q4 2022 onward, the export values have begun decreasing across all regions quarterly. By Q2 2024, the export value reached its lowest quarterly level since Q4 2022.
Looking at annual growth rates for Taiwanese fastener exports, regardless of global or individual regional markets, Taiwanese fastener export value exhibited positive annual growth rates starting from Q1 2021, but shifted to negative rates beginning in Q4 2022. While there was positive growth observed in Latin America during Q1 2024, the overall global annual growth rates transitioned into negative trend from Q4 2022 through Q2 2024.
Examining the data on export weight: The ranking of primary destination markets based on export weight remains the same with North America on top, followed by Europe, Asia, Latin America, and Oceania. During the period from Q4 2021 to Q2 2022, Taiwanese fastener global export weight reached a peak; however, the export to Asia began slowing during this same period—from an export weight of 53,960.48 tons per quarter in Q4 2021 down to 25,226.637 tons per quarter by Q2 2024. The global export weights as well as those for North America and Europe began decreasing from Q4 2022 onward to Q2 2024 without recovering back to levels seen in Q1 2021.
Observing the annual growth rates for Taiwanese fastener export weight: Except for Asia and Latin America where negative growth was reflected on (Q4 2021 and Q2 2022 respectively) other markets began showing negative annual growth rates after Q3-Q4 of 2022. Although North America and Latin America showed positive annual growth rates during Q1 2024 for export weight, overall global annual growth rates remained negative by Q2 2024. Therefore, whether market demand is recovering should still be assessed with a more cautious mindset regarding the situation's development.
Calculating the average unit prices based on export values ( Table 2) and weights ( Table 3), we derive statistics on unit price changes for Taiwanese fasteners exported between Q1 2021 and Q2 2024 (Table 4). Observing changes in unit prices from Q1 2021 through Q2 2024 reveals similar trends among global markets indicating that individual market trends do not deviate significantly from overall trends. Based on the average unit price of global and other individual markets, it shows that during Q2 2024 unit prices have approximately returned to levels seen between Q3-Q4 of 2021.
3. Outlook on Demand for Taiwan’s Fastener Exports
In basic economic markets related to fasteners, customer demand is typically influenced by several factors including: changes in disposable income among customers; shifts in customer preferences; costs; changes regarding substitutes and complements; product source quantities and structures; expectations about future conditions.
Fastener production must trace back through raw material sources and the use and design of dies, as well as automated processes such as stamping, forging, threading, plastic forming, heat treatment, surface treatment—all necessary to meet customer quality standards. On basis of meeting the quality standards set by customers themselves, changes regarding preferences or product source quantities have less impact on demand on condition that lowercost alternatives or substitutes meet customers’ quality requirements. Post-COVID-19 inventory reduction speeds, or actual demand after inventory reduction, are the ones that truly reflect customer disposable income needs.
In basic economic markets, supply and demand closely intertwine and they dictate pricing. Customs export statistics for Taiwanese fastener products indicate that from Q1 2022 to Q2 2022, Taiwan's global export weight reached nearly 430,000 tons per quarter to meet the demand at that time, resulting in a supply shortage in the fastener market. In Q1 2024 and Q2 2024, the global export weight was only approximately 305,000 tons per quarter and 203,000 tons per quarter, respectively. Compared to the highest export weight, these figures represent only about 71% and 47% of those peak levels. Under conditions of oversupply, the export market has led to price declines, and despite optimistic forecasts for economic growth in 2024, demand remains insufficient, resulting in weakness.
Table 2. Statistics on Export Value and Annual Growth Rate of Taiwan Fasteners from Q1
(C.C.C. code 731811-731829, Unit: USD Million)
Asian
Source: Taiwan Ministry of Economic Affairs, July 2, 2024
A trend chart was drawn based on the annual growth rate of Taiwan's fastener export weight from 2021Q1 to 2024Q2 (Figure 2). Observing fastener export demand in terms of weight, if we use the annual growth rate of export weight as an indicator of the supply-demand relation, a high market demand will result in a positive growth rate indicator for export weight. When there is insufficient demand in the market, the growth rate indicator will show negative values. When the market is stable, supply and demand are balanced, and the growth rate indicator approaches zero. Therefore, by observing the trend chart of the growth rate indicator for weight, we can assess the trends in the supply-demand relation. When this indicator approaches zero, we can use the actual export weight as a benchmark to evaluate future demand conditions.
2021 to
Figure 2. Annual Growth Rate Trend of Taiwan’s Fastener Export Weight from Q1
INDUSTRY FOCUS
Table 3. Statistics on Export Weight and Annual Growth Rate of Taiwan Fasteners
(C.C.C. code 731811-731829, Unit: ton)
INDUSTRY FOCUS
Trends suggest that while annual growth rates in Q1 of 2024 are moving close to the market's supply demand—the actual figures recorded during Q2 revealed declines suggesting sharp downturns below anticipated thresholds in terms of fastener market demands. The outlook for the demand in the fastener export market still requires analysis of actual export weights in Q3 and Q4 of 2024 to determine whether Taiwan's fastener industry has begun to show signs of recovery. From the trend chart of annual growth rates in export weight, it can be observed that the fastener industry may still be in a state of unpredictable market in Q3 and Q4 of 2024, failing to show adequate recovery. Given the uncertainties caused by the Ukraine war, the conflict between Israel and Hamas in the Middle East, and the U.S. elections, along with competition from fastener producers in Southeast Asia such as Vietnam and Thailand, as well as the threat of low-priced Chinese fasteners due to China's weak economy, it is also worth observing whether global fastener orders will shift towards Vietnam, Thailand, or China, which could delay or reduce the demand for Taiwanese fastener products.
Many small-to-medium sized fastener companies rely heavily upon orders outsourced from larger firms—thus facing immediate repercussions when order volumes decline significantly. Since 2023, there has been a noticeable decrease in order demand, leading many fastener factories to halt operations or adjust their production lines due to a lack of incoming orders. When customer demand is uncertain, the market is conservative in placing orders and adopts a more cautious approach to inventory, resulting in a decline in orders for fastener companies. From the trend of annual growth rates, trade wars and tariffs are not the key determinants of market conditions. If supply and demand cannot be balanced, standard fastener products except for those that are specialized or require high certification barriers will likely face a situation of price cuts to secure orders, leading to significant impacts on the industry.
In the context of the global fastener market orders potentially being difficult to grasp in Q3 and Q4 of 2024, fastener companies should be more proactive and place greater emphasis on existing customer relationship management. By engaging in direct communication with customers and utilizing data analysis, they can effectively and promptly gather information on customer product needs and quality requirements, allowing them to develop optimal marketing strategies to secure orders. Internally, fastener companies can analyze existing production quality data to formulate strategies for optimizing production techniques and costs based on customer demands, thereby enhancing efficiency in fulfilling subsequent orders. During capacity adjustments, it is also essential to utilize downtime for equipment maintenance and training in production techniques to better meet the technical quality and capacity requirements of future orders.
Copyright owned by Fastener World Article by Wei-Ming Wang
Europe
The fastener industry plays a crucial role in global manufacturing, construction, and automotive sectors. In Europe, fasteners are indispensable for holding the infrastructure together and machines that power economies. As Europe’ s demand for fasteners grows, countries outside the EU are increasingly filling supply gaps, and Turkey has emerged as a vital player in this supply chain. Analyzing Turkey's fastener supply chains reveals several key advantages that make it an attractive partner for European businesses.
Strategic Geographic Location
Turkey's unique position, bridging Europe and Asia, offers it unparalleled access to European markets. Its proximity to the European Union enables faster shipping times and more reliable logistics than Asian competitors like China or India. Turkish manufacturers are well-positioned to meet the Just-In-Time (JIT) inventory needs of European manufacturers, ensuring quicker delivery cycles and minimizing disruptions in supply chains. Furthermore, with major ports like Istanbul and Izmir, Turkey has well-established maritime routes to Europe, facilitating seamless transportation.
Competitive Pricing with HighQuality Standards
One of the key reasons for Turkey’s success in the fastener market is its ability to offer competitive prices without sacrificing quality. Turkish fastener manufacturers have invested significantly in modernizing their production facilities, adhering to international quality standards like ISO and EN certifications. This allows Turkish fasteners to compete with high-end European products while offering better price points than traditional European manufacturers.
Additionally, the relatively lower labor costs in Turkey compared to Western Europe help drive down production costs. This combination of cost-effectiveness and high quality makes Turkish fasteners an attractive option for European industries looking to balance budgetary constraints with the need for reliable and durable products.
Robust Manufacturing Sector
Turkey boasts a thriving manufacturing sector, with a strong focus on industrial components like fasteners. Its fastener industry is wellintegrated with the country's steel production, ensuring that local manufacturers have easy access to raw materials at competitive prices. This integration enables Turkish manufacturers to be agile in responding to fluctuating market demands and to offer customized solutions for clients across Europe.
Furthermore, the Turkish government has been supportive of its manufacturing sector, providing incentives and subsidies to exporters. This commitment to industrial development ensures that Turkish fastener manufacturers have the resources to scale up production and meet the growing demands of their European partners.
Adapting to European Regulations
Compliance with stringent European Union regulations is crucial for any supplier aiming to penetrate the EU market. Turkish fastener suppliers have shown remarkable adaptability in meeting these regulatory requirements, including standards on environmental sustainability, product safety, and traceability. Turkish companies have made significant investments in aligning with EU norms, such as the European Construction Products Regulation (CPR) and the Restriction of Hazardous Substances Directive (RoHS). This compliance boosts confidence among European buyers, ensuring that Turkish fasteners meet the necessary legal and safety requirements for use in diverse industries.
Diverse Product Range and Customization Capabilities
Turkey’s fastener manufacturers produce a wide range of products, including screws, bolts, nuts, washers, and specialty fasteners for industries like automotive, aerospace, and construction. Turkish companies are known for their ability to offer customized fasteners tailored to specific industry needs, allowing them to serve niche markets within Europe. This flexibility gives Turkish suppliers an edge over mass-market manufacturers from other regions who may not be able to offer the same level of customization.
Moreover, Turkish manufacturers are increasingly focusing on innovation. Many have developed new types of fasteners, including those made from advanced materials like titanium and stainless steel, which are in high demand in industries like automotive and aerospace. These innovations allow Turkey to provide not only standard fasteners but also cutting-edge solutions to meet evolving European industry requirements.
Strengthening Trade Relations and Agreements
Turkey's customs union agreement with the European Union has played a significant role in easing trade barriers between the two regions. This agreement allows for the dutyfree movement of goods, including fasteners, between Turkey and EU member states, reducing costs and streamlining the import-export process. With favorable trade agreements in place, European buyers benefit from simplified logistics, reduced tariffs, and improved overall access to Turkish products.
Additionally, ongoing efforts to expand trade relations between Turkey and non-EU European countries open further opportunities for Turkish fastener suppliers to access markets beyond the EU.
Focus on Sustainability
Sustainability is increasingly becoming a key criterion for European buyers, and Turkey’s fastener industry is responding. Turkish manufacturers are adopting greener production
methods, using energy-efficient technologies, and incorporating recycled materials into their processes. This focus on sustainability not only meets European regulatory requirements, but also aligns with the growing demand from eco-conscious European consumers.
Turkey’s fastener manufacturers are actively seeking certifications like ISO 14001 for environmental management systems and are participating in initiatives to reduce their carbon footprint. This commitment to sustainability enhances Turkey's competitiveness in the European market, where green credentials are becoming a prerequisite for doing business.
Conclusion
Turkey's fastener exports to the world are valued at 803,282 thousand USD, of which 576,632 thousand USD worth of fasteners are exported to the EU 28 countries, which accounts for 72% of Turkey's total fastener exports.
The European Union represents the dominant market for Turkey’s fastener exports, with a significant 72% share of Turkey’s total fastener exports. This indicates that the EU is by far the most important destination for Turkish fasteners, showing strong demand for Turkish products in this region.
The remaining 28% (or approximately 226,650 thousand USD) of fastener exports are distributed to non-EU markets. While this is still a considerable amount, it highlights the opportunity for Turkey to diversify its export destinations further outside of the EU.
Given the high concentration of exports to the EU, Turkey’s fastener industry is closely tied to the economic health and trade regulations within the European Union. Any changes in EU trade policies, regulations, or market demand would likely have a significant impact on Turkey's fastener export performance. Turkey’s fastener supply chains offer several advantages for European buyers, from strategic geographic positioning to competitive pricing, high-quality production, regulatory compliance, and a focus on sustainability. As the demand for fasteners in Europe continues to grow, Turkey is well-positioned to be a key supplier, meeting the needs of various industries while adapting to changing market dynamics. For European manufacturers looking to optimize their supply chains, Turkey provides an attractive combination of proximity, reliability, and innovation, making it a partner of choice in the fastener industry.
Copyright owned by Fastener World / Article by Behrooz Lotfian
Is Australia a Potential Market
As one of the largest economies in the Asia-Pacific region, Australia offers a promising yet untapped market for global fastener suppliers. With significant industries including construction, automotive, mining, and manufacturing, the demand for fasteners essential components that hold together various structures and machines is substantial. However, exploring the true potential of Australia as a market requires an understanding of the country ’ s industrial landscape, economic conditions, and challenges unique to the fastener industry.
Growing Industries Driving Demand for Fasteners
Australia’s fastener market is shaped by several thriving sectors:
1. Construction Sector: The Australian construction industry is expected to grow significantly, driven by increased government investments in infrastructure and urban development projects. As a core component of construction, fasteners are essential in assembling everything from large structures like bridges and skyscrapers to smaller residential buildings. This industry alone presents a massive opportunity for global fastener suppliers to cater to growing demand. Australian construction industry, contributing US$360 billion annually and accounting for 9% of GDP, saw a 0.4% increase in total completed work and a 0.2% rise in building work in 2023. The private sector led with US$15 million in construction, compared to US$12 million in the public sector. Residential and infrastructure projects dominate, making up 80% of the total industry. Residential construction growth has been steady, with a 7% increase in dwelling approvals by August 2023 and a 3.2% rise in the value of new residential buildings, reflecting the sector's resilience despite economic challenges.1
2. Mining Industry: Australia is a world leader in mining, producing large quantities of iron ore, coal, and gold. The
mining sector, with its reliance on heavy machinery, conveyor systems, and equipment, requires high-quality industrial fasteners that can withstand extreme conditions. Given the nature of mining operations, fasteners used in this sector must meet strict safety and durability standards, providing a niche market for premium fastener suppliers. Australia underground mining equipment market is projected to grow from US$ 571.28 million in 2023 to US$ 748.65 million by 2032, representing a compound annual growth rate of 3.05%2.
3. Automotive Sector: While Australia no longer has significant domestic automotive manufacturing, it still imports and services a wide range of vehicles. This sector offers an opportunity for fastener suppliers who specialize in automotive components, especially as the country sees a shift towards electric vehicles (EVs) and other sustainable mobility solutions. The Automotive Products market is expected to experience steady growth, with value added reaching US$3.9 billion by 2024, driven by a 1.56% CAGR. Output is projected to increase to US$12.9 billion during the same period, supported by a 1.41% CAGR. This growth is anticipated to lead to a rise in both the number of enterprises and employees within the sector. Despite a manufacturing intensity of only 0.8%, the labour productivity in the Automotive Products market is expected to reach US$79.4k per employee in 2024, indicating efficient operations and value creation.3
4. Manufacturing Sector: Though Australia’s manufacturing sector is not as large as it once was, there remains demand for fasteners in the production of machinery, appliances, and equipment. Additionally, growth in high-tech manufacturing, including aerospace and renewable energy systems, is expected to provide new opportunities for specialized fastener solutions. The Machinery & Equipment market is anticipated to experience steady growth, with value added reaching US$4.7 billion by 2024, driven by a 1.50% CAGR. Output is projected to increase to US$14.5 billion during the same period, supported by a 1.41% CAGR. This growth is anticipated to lead to a rise in both the number of enterprises and employees within the sector. Despite a manufacturing intensity of only 0.9%, the labor productivity in the Machinery & Equipment market is expected to reach US$83.8k per employee in 2024, indicating efficient operations and value creation.4
Favourable Economic Conditions
Australia’s stable political environment, transparent legal system, and openness to trade make it an attractive market for global suppliers. Its proximity to Asia also positions the country as a strategic hub for companies looking to expand their reach into the broader Asia-Pacific region.
Key Economic Factors:
• Strong Trade Relationships: Australia has numerous trade agreements, particularly with countries like China, Japan, South Korea, and the U.S., facilitating the flow of goods, including fasteners.
• Infrastructure Investments: The Australian government’s emphasis on improving infrastructure—such as roads, rail, and ports—directly impacts the demand for fasteners used in construction and machinery.
• Sustainability Trends: With Australia’s commitment to sustainability and renewable energy projects, fastener suppliers that can offer eco-friendly or energy-efficient solutions will find a growing market.
Challenges to Consider
While the potential is clear, there are challenges that global fastener suppliers must navigate when entering the Australian market:
• Competitive Landscape: The Australian market already has a range of established local suppliers and distributors that cater to the fastener needs of key industries. Global entrants must compete on quality, price, and service, often facing higher costs due to shipping and importation.
• Compliance with Standards: Australia has stringent standards and regulations, particularly for industries like construction and mining. Fasteners must meet specific quality and safety criteria, requiring suppliers to adapt or innovate to comply with local requirements.
• Currency Fluctuations: As a market reliant on international trade, Australia’s demand for imports, including fasteners, can be influenced by currency fluctuations. This volatility may affect pricing and the overall attractiveness of the market for foreign suppliers.
• Supply Chain Complexity: Given Australia’s geographic isolation, suppliers need to consider the logistics of shipping products to a distant location. Building a robust supply chain with reliable distribution networks is essential for ensuring a steady and timely supply of fasteners.
Entering the Australian Market: Key Considerations
For global fastener suppliers eyeing the Australian market, strategic entry is crucial. A few considerations include:
• Partnerships and Distribution: Establishing local partnerships with distributors and retailers can ease market entry, providing access to established supply chains and customers.
• Specialization: Offering fasteners tailored to niche markets— such as corrosion-resistant fasteners for coastal construction or heavy-duty fasteners for mining equipment—can help global suppliers stand out in a competitive market.
• Compliance and Certifications: Securing relevant certifications and ensuring products meet Australian standards are critical for entering sectors like construction, mining, and manufacturing.
• Customer Support: Building trust with local customers by offering excellent after-sales support, technical advice, and on-the-ground service can differentiate foreign suppliers from local competitors.
Conclusion
Australia’s diverse industrial landscape, strong economic fundamentals, and growing infrastructure and sustainability initiatives present a ripe opportunity for global fastener suppliers. However, success in this market will depend on a company’s ability to navigate local regulations, build strong distribution networks, and offer specialized products that meet the demands of key industries. With the right strategy, Australia can indeed be a lucrative market for fastener suppliers looking to expand globally.
Copyright owned by Fastener World Article by Dr. Sharareh Shahidi Hamedani, UNITAR International University
Analysis of Chile’s Fastening Tool Trade (2019-2023)
Chilewith a population of 19.2 million and a GDP (PPP) of USD579.4 billion, is a key player in South America's industrial and economic landscape. In 2022, the country saw a GDP growth rate of 2.4%, contributing to a 5-year average growth rate of 2.6%. Chile’s per capita income stands at USD29,221, reflecting its status as a growing economy despite challenges. However, Chile faces several economic hurdles, including an unemployment rate of 9.1% and inflation, which hit 11.6% in 2022. Foreign Direct Investment (FDI) inflow reached USD19.8 billion, and public debt remains at 38.0% of GDP, reflecting a balanced yet dynamic economic environment. These factors directly influence the country's fastening tool trade, which is critical for key sectors like construction, mining, and manufacturing.
Chile, known for its dynamic mining, construction, and industrial sectors, holds a significant position in South America’s economy. Fastening tools, essential in a wide range of industries such as construction, automotive, and machinery, have been an important part of the country's trade landscape. From 2019 to 2023, Chile's fastening tool market has undergone notable shifts influenced by global disruptions, local political events, and economic recovery efforts.
Trade Performance Overview (2019-2023)
The period from 2019 to 2023 was marked by various global and local factors that directly impacted the fastening tool trade in Chile. These included political unrest, the COVID-19 pandemic, supply chain disruptions, and inflationary pressures.
Share and Growth Trend Analysis of Chile’s Fastening Tool Exports (2019-2023)
The total global export of Chile's fastening tools has seen fluctuations, with 100% representing the total value for each year. Chile faced a drop of 7.24% in 2020 but saw strong growth in 2021 (18.38%) and 2022 (21.48%). The trend reversed slightly with a 3.94% decline in 2023.
Brazil
Share increased from 10.89% in 2019 to 21.44% in 2023. Brazil has shown a consistent rise in its share of Chile’s fastening tool exports, highlighting its growing importance as a trading partner. Brazil exhibited steady growth, with notable increases of 39.72% in 2021 and 24.79% in 2022. Its highest growth was in 2023, at 29.45%.
Peru
Numbers are in thousand USD
Share started at 8.79% in 2019, dipped in 2022 to 6.97%, but surged to 19.49% in 2023. Peru’s import shares experienced significant growth towards the end of the period, indicating a rapid expansion in demand. After a modest growth in 2020 (12.71%) and 2021 (9.85%), Peru's imports dropped by 14.58% in 2022, but surged dramatically by 168.59% in 2023.
USA
Numbers are in thousand USD
Share declined from 24.64% in 2019 to 15.93% in 2021 but rebounded slightly to 18.10% in 2023. The USA experienced a negative growth in 2020 (-7.77%) and 2021 (-23.02%), but rebounded 19.04% in 2022 and 11.38% in 2023. The USA remains an important destination for Chilean exports, although its share has fluctuated.
Argentina
Share rose sharply from 10.82% in 2019 to 25.68% in 2021 but dropped to 12.85% in 2023. Argentina's import share saw a peak in 2021 but has since declined significantly. Argentina saw impressive growth in 2021 (102.19%) but it slowed in 2022 (1.64%) and then faced a sharp decline in 2023 (-42.53%).
Fastening Tool Imports (2019-2023)
Global Overview
Between 2019 and 2023, the world’s total exports of fastening tools to Chile experienced both impressive growth and sharp declines. Starting from USD91,293,000 in 2019, the import value dropped to USD78,358,000 in 2020, largely due to the economic impact of the COVID-19 pandemic. However, 2021 marked a strong recovery with a 40.6% increase, reaching USD110,195,000, followed by further growth in 2022, peaking at USD123,504,000. In 2023, however, the market faced a steep decline of 27.5%, falling back to USD89,524,000. This data suggests that the initial post-pandemic recovery in the Chilean market was robust but short-lived, with a sudden drop in demand for fastening tools in 2023. This could be attributed to economic slowdowns, changes in construction activity, or shifts in supplier strategies.
China (29.1% Market Share)
China remained the largest exporter of fastening tools to Chile throughout the period, maintaining a significant share of the market. In 2019, China exported USD18,510,000 worth of fastening tools, a figure that remained steady in 2020 with a slight dip to USD18,165,000. However, the following years saw a remarkable surge, with the export growing by 72.7% in 2021 and reaching USD31,385,000. This growth trend continued into 2022, albeit at a slower pace, with a 3.7% increase to USD32,558,000. The year 2023, however, saw a significant downturn, with exports dropping by 20% to USD26,043,000. Despite the decrease, China still held a dominant position in the Chilean market. The earlier growth period can be attributed to the rapid recovery of postCOVID global supply chains and China's competitive pricing. The recent decline might indicate increased competition or reduced demand in Chile’s construction and manufacturing sectors.
India (12.5% Market Share)
India demonstrated one of the most remarkable growth trends in exports to Chile. In 2019, India’s export was relatively modest at USD4,901,000, but the country quickly gained ground, with the export increasing by 56.6% in 2020 to USD7,677,000. The growth continued in 2021, surging by an impressive 82.3% to USD13,991,000, followed by a further 20.4% increase in 2022 to USD16,839,000. However, much like the global trend, 2023 marked a decline for India, with the export falling by 33.5% to USD11,191,000. India’s rapid rise in 2021 and 2022 reflects its growing capabilities as a manufacturing hub and its competitive pricing in the global market. The decline in 2023 could be linked to similar factors affecting other exporters, such as reduced demand or increased competition from other countries.
USA (12.2% Market Share)
The U.S. has been a steady supplier of fastening tools to Chile over the years. Starting at USD10,427,000 in 2019, the export dipped slightly to USD10,067,000 in 2020. However, in 2021, the export rebounded with an 18.1% increase to USD11,887,000, followed by an impressive 29.6% rise in 2022, reaching USD15,396,000. In 2023, the U.S. experienced a significant drop of 28.9%, with the export falling to USD10,935,000. The fluctuations in U.S. exports closely mirror global trends, with a strong recovery postpandemic, followed by a sharp contraction in 2023. This pattern suggests that the U.S. faced similar challenges to other major exporters, including inflationary pressures and potential slowdowns in construction-related demand in Chile.
Sweden (9.3% Market Share)
Sweden’s export performance was marked by extreme volatility. In 2019, Sweden exported USD16,966,000 worth of fastening tools to Chile, one of the highest among all countries. However, the following year saw a sharp decline, with the export falling by 43.2% to USD9,636,000 in 2020. The
jumping by 63.7% to USD12,785,000. However, this recovery was short-lived, as 2023 saw another significant decline, with the export falling by 34.7% to USD8,341,000. Sweden’s export performance reflects its susceptibility to shifts in demand and competition from other countries, as well as possible supply chain challenges during the pandemic.
Conclusion
From 2019 to 2023, Chile’s fastening tool exports exhibited mixed trends. While markets like Brazil and Peru have shown significant growth in recent years, others like Argentina and Mauritania have experienced greater volatility. The USA remains an important but fluctuating market, while Bolivia's recovery suggests increasing demand. On the other hand, the analysis of Chile’s imports of fastening tools over the past five years reveals key trends in the global market. Countries like China and India capitalized on the post-pandemic recovery, but 2023 marked a sharp decline for most major exporters. The fluctuations point to shifting demand in Chile, likely influenced by broader economic factors such as inflation, slowdowns in construction, and rising competition. While some countries experienced volatile swings, others like Canada demonstrated more stable performance. Going forward, exporters may need to adjust their strategies to
BEST QUALITY WIRE
ULTRA S.S. ANTI-CORROSION SCREW
Rust-free for Over 30 Years
High Mechanical Properties
Replacing Bi-metal Screws
Iconic Patent Fasteners Making a Reputation in Taiwan
Best Quality Wire has crossed over from a wire rod company in Taiwan to the fastener R&D field, launching its flagship product, Ultra S.S. AntiCorrosion Screw, with patents in Taiwan, Europe and the U.S. “Ultra S.S.” bears its own implication, representing apex stainless steel screw exceeding the properties of 304 and 316 stainless steel with exceptional rust resistance. Last year, it debuted at Taiwan International Fastener Show, garnering numerous inquiries and praise from domestic and international buyers.
This innovation came out of ten years of study and countless trials and errors by President Hsiang Wu. He discovered that bi-metal screw manufacturing involves multiple processes, resulting in lower production speed and volume compared to standard stainless steel screws. For many years, he contemplated how to address this issue and ultimately identified the pain point of bi-metal screws as the inability to form them in a single step. To solve it, he sought advice from industry experts and continuously studied process optimization and material characteristics, leading to the conception of a revolutionary new patent technology called Directly Drillable Stainless Steel Screw Forming Method. This technology is exclusive to Best Quality Wire, with no comparable
alternatives on the market.
The new product, Ultra S.S. Anti-Corrosion Screw, is a proud work adopting this technology.
Lower Costs, Shorter Delivery Times, Most Earth-Friendly
Before learning the advantages of this new product, it is essential to compare it with conventional bi-metal screw manufacturing processes. Typically, bi-metal screws consist of an upper structure made of stainless steel and a lower structure made of carbon steel. Since they have to combine dissimilar materials, the manufacturing process for bi-metal screws is complex and involves multiple steps. Additionally, it is difficult to keep the materials on the same center point during welding, leading to increased production costs and longer lead times. Furthermore, their corrosion resistance and strength are inferior, compounded by a more complex manufacturing process that has a larger environmental impact. This is the pain point of inability to form in a single step.
In contrast, Ultra S.S. Anti-Corrosion Screw addresses the issues by achieving single-step forming without processes like welding up two materials, machining, threading, cleaning, and surface treatment. It is formed in one step, resulting in faster production and shorter lead times. Consider that just eliminating those numerous steps can reduce labor, materials in use, factory space, time, and financial costs by up to 30-50% in a global inflationary environment—making its price competitiveness significant and highlighting its economic advantages! Moreover, it reduces carbon emissions during manufacturing by up to 20-40%, helping customers lower carbon tax costs while showcasing superior carbon reduction capabilities in international markets! With this product, Best Quality Wire has already optimized and shortened processes for customers
beforehand, enhancing their market competitiveness.
The benefits do not stop there.
The President has invested considerable effort into studying material properties to make this product lighter with enhanced corrosion resistance and piercing strength. Experimental results ( Table 1) show its rust resistance surpasses that of 304 and 316 stainless steel. Its surface hardness reaches 550 HV, core hardness exceeds 520 HV, with a tensile strength of 173 kgf/cm 2. It can withstand over 3,000 hours of corrosion and more than 30 cycles of acid rain exposure. Since it is inherently rust- and corrosion-resistant, no surface treatment is necessary. Ultimately, it can directly replace conventional bi-metal screws.
The President revealed to Fastener World: "The yacht, wind power, solar energy, construction, and automotive industries place high importance on strength and corrosion resistance—especially under marine conditions or harsh environments. I can guarantee that this screw will not rust for 20 to 30 years (Table 2), while its low-carbon manufacturing process significantly reduces environmental burdens. It can be widely used across these diverse industries while demonstrating consistent adaptability and corrosion resistance. In light of global inflation pressures combined with EU carbon taxes, it will undoubtedly help customers face challenges related to carbon taxes with greater cost competitiveness while contributing to environmental protection."
Exhibiting excellent long-term performance in corrosion resistance and fastening.
Suitable for general environments, but requires regular maintenance to ensure its performance.
Performs well in chemical environments, but requires special attention in highly salty environments.
Poor corrosion resistance, not suitable for long-term use in humid environments.
Applicable in normal environments, but may experience corrosion with long-term exposure to humid conditions.
"Single-step Forming" Technology Now Extends Application to Customized Assorted Fastener Development
Having addressed the pain point of bi-metal screws, the President aims to extend this technology further into revolutionary optimization of wire rod manufacturing. He will develop a production line that incorporates wire drawing, pickling, roughing, finishing, and phosphoric acid coating into a single step. His production line will be able to produce wire rods in a single step with a major highlight of shortening processes and reducing carbon emissions. Furthermore, he will use this technology for customized production of nuts and various highstrength fasteners formed in a single step. Additionally, he commits to continuously contributing to ESG and has conducted carbon inventory. Best Quality Wire is fully equipped for the CBAM era!
Quality Wire’s contact: Mr. Hsiang Wu, President
Table 2. Overall Evaluation of Corrosion & Acid Rain Resistance
Congrats on Successful 2024 Product Launch of Ching Chan Optical Technology (CCM)!
Special Interview with General Manager
Thomas Chou
On October 25, once again CCM showcased to the world its new evolution in optical inspection, adding new technology to the current sorting machines and displaying all-new machines. The launch event featured an incorporation of conventional AOI (Automated Optical Inspection), AI (Artificial Intelligence) and AXI (Automated X-ray Inspection), with applications extending beyond fasteners and hardware components to electronics, semiconductor chips, and pharmaceutical tablets. Over 200 attendees witnessed live demonstrations of CCM's independently developed inspection software and its nearly 50 patented technologies.
Highlights of New Products:
☆ New High Performance Optical Sorting Machine:
1. Latest fly tracking system for multifunctional material and crack inspection in one go.
2. Automatic focus: One-click line change for faster inspection of objects in check.
3. Quality inspection machine on production line: Suitable for auto-focusing models, increasing demand for quality inspection.
☆ Glass Dial Sorting Machine: Enhanced with AI inspection capabilities to improve detection rates.
☆ Steel Wire Image Sorting Machine: Uses two wires to hang up screws for inspection.
☆ Go/No-Go Sorting Machine:
• Go gauge: Inspects thread damage, drilling defect, and NG threading.
• No-go gauge: Inspects over-drilling.
☆ Tablets Sorting Machine: The first of its kind in Taiwan, compliant with GMP regulations, used in pharmaceutical factories for two years. Suitable for uncoated tablets, filmcoated tablets, and sugar-coated tablets, it offers a complete AOI + AI inspection solution with 360° full appearance inspection, providing robust equipment for the Contract Development and Manufacturing Organization industry chain.
☆ Chip-type Electronic Component Appearance Defect Inspection Machine: Conducts eight-sided appearance inspection with high compatibility and excellent inspection capabilities. Equipped with an auto-zoom lens for quick line changes and customizable inspection functions and area to meet small-volume, large-variety manufacturing needs.
☆ Process Monitoring: Offers 2 to 8 simulation channels for monitoring dies life, digitizing production capacity control with real-time monitoring, shutdown configuration and alerts.
☆ Centrifugal Feeder: Suitable for light and heavy industries such as fasteners, chemicals, pharmaceuticals, food, and construction materials. It is fast, electricity-saving, low-noise and doesn’t damage materials. Reduced product surface collisions and damage to coating, only one-tenth power consumption of conventional vibrating plates.
☆ Automatic Packing System: Integrates packaging with sorting machines, allowing direct packaging of post-sorted good products into boxes to enhance productivity.
In this event, Fastener World had a special interview with General Manager Thomas Chou to explore CCM's business philosophy in his eyes through a Q&A session.
President Alex Wu and his machine. Image by Weng-Zheng Guo
Q1: CCM is one of the top brands in the industry with international acclaim. What differentiates your products from competitors?
A: Firstly, our starting point and philosophy are to "understand customer needs and exceed expectations." CCM monitors everything from fastener manufacturing to finished product inspection, providing maximum added value for the fastener industry. Secondly, we aim to be partners with our customers rather than just equipment suppliers. Our contributable values include inspection machines for final products, providing solutions, and developing technology and equipment collaboratively with key customers. Our success is tied to our customers' success. Thirdly, we provide quick and complete technical support and after-sales service. Fourth, we continuously improve core capabilities to align with customer needs. From surface defects, cracks, material hardness to products’ materials and abnormalities, we offer various optical inspection machines using cameras, lasers, eddy currents, AI, and X-rays to help clients confirm product quality and increase competitiveness.
Q2: Where is your technology headed to?
A: Firstly, we establish a technical ecosystem with a complete supply chain incorporating leading global component suppliers and technical partners, providing complete solutions and equipment, and working with global key clients. Secondly, we make our sorting machines inspect faster, inspect more precise products with higher accuracy and precision. We are developing technology from the outside in because we emphasize partnership, prioritizing customer needs and expectations. Meanwhile, for requests on product reliability, through-scan internal imaging inspection will be a continuously growing demand. Therefore, CCM has established a product line and technical team of eddy current and X-ray sorting machines to help clients gain competence. Thirdly, leveraging 30 years of experience and know-how, CCM's advanced optical sorting machines not only serve the fastener industry but also enter potential industries such as semiconductors, EVs, automation, robots, medical applications, and food safety. This includes diving further in fasteners, machined parts, forged parts, electronic components, tablets, capsules, and food.
Q3: How do global customers evaluate CCM's equipment?
A: Production speed, inspection accuracy and equipment reliability, combined with high problem-solving capabilities and solutions, have earned us high praise from global customers. We are undoubtedly the best choice on fastener sorting machines worldwide. We don’t leave our machines unattended. Each one represents a customer’s capital expenditure, and the space it takes, its utilization rate, and efficiency directly impact the customer's costs and competitiveness. We don’t want our machines left idle in customers' factories or production lines, so we are committed to after-sales and technical services to ensure the machines operate normally, allowing customers to use them with confidence. Our machines establish inspection data for every batch and every screw. It’s like each screw has its own quality ID. This effectively addresses defect rates and avoids trade disputes, resulting in considerable savings in gross margins and generated production value. Customers can use the data obtained from sorting as a basis for process improvement to maximize benefits. Additionally, our machines can display power and gas consumption data, allowing customers to convert this into carbon emissions data, providing support for their CBAM reporting.
Q4. What is your view on the industry's economic climate? Could you share your sales performance and overseas expansion status?
A: We know that due to geopolitical issues, wars, and the U.S. election, the fastener industry’s business model and production locations must adapt accordingly and meet the challenges of a post-globalization era characterized by global fragmentation. As the saying goes, "Different places can experience different weather." Customers’ development varies across different regions and industries. Our global deployment in Europe, America, Japan, China, Taiwan, and India offsets changes in individual regions. In response to global customers' need for risk-hedging, the fastener industry is expanding production to Southeast Asia and India. To seize this trend and provide local real-time service, we are actively seeking factory locations in Northern Vietnam and training sales, service, and technical personnel to serve customers and expand markets. With customers’ higher requirements (0 PPM) on product inspections, we’re compliant with IATF16949. Sorting machines are no longer optional but essential investments and tools for fastener manufacturers. We can assist customers in securing orders and meeting quality requirements.
Q5. Last year's launch received enthusiastic feedback. What were your goals for this year's event?
A: We uphold our root of assisting in customers’ development through our technology and service. This event showcased many new products and demonstrated our integrated capabilities across seven major areas: "optics (image capture/analysis), mechanical transmission, electric control (PLC), software (AOI + AI), service, distribution channels, branding." We look forward to collaborating with various parties for a win-win!
Copyright owned by Fastener World / Article by Dean Tseng
BUYERS’ GUIDE
The Must-have for Your Purchase >>> Quickly Stay Connected to Fastener Suppliers
Today's global marketplace remains challenging, but opportunity waits for no one. Considering cost, quality, and lead time as factors that affect competitiveness, buyers of fasteners, equipment, and peripherals around the world are in dire need of suppliers that can help them quickly create the optimal balance among these factors. Don't worry! The newly released Fastener World Buyers’ Guide 2025 provides you with the fastest path to the best suppliers.
The Most Diverse Range of Products
Tens of thousands of raw materials, finished/semi-finished fasteners, mechanical equipment, molds & dies, surface treatment and peripheral secondary processing equipment & services are included.
The Most Complete List of Suppliers
Nearly 400 select domestic and international quality suppliers for this year. Whether you are engaged in domestic or export sales, you can always find the best collaborative partners in the most cost-effective way.
The Most Informative Profiles of Suppliers
Buyers can get a quick overview of manufacturers’ information by scanning their respective QR codes, helping them quickly understand and evaluate their strengths and whether they have relevant certifications or overseas locations.
Fasteners & Fixings p395
& Tooling p440
Scan any manufacturer's QR code now to open your gateway to the global market opportunities.
Need more suppliers info?
Please visit our “Product Search Platform” at https://www.fastenerworld.com/keyword.php
Wedge Anchors, Drop-in Anchors, Sleeve Anchors, Chemical Anchors and Other Kinds of Anchors, Screws, Bolts, Nuts and Nonstandard Products
www.abc-fasteners.com sales@abcfasteners.cn
寧波聯欣標準件有限公司 ISO-9001:2015
Hexagon Socket Head Cap Screws, Hexagon Socket Head Cap Screws With Low Head, Hexagon Socket Countersunk Head Screws, Hexagon Socket Button Head Screws, Hexagon Socket Set Screws, Hexagon Head Screws, Hexagon Flange Screws, Thread Rolling Screws, Tapping and Drilling Screws, Parallel Pins, Washers, Nuts
Clinch Stud Screws / Miniature Precision Screws / Micro Forming Parts / Stainless Steel Screws / Open Die Screw / Multidie Forming Fasteners / Automotive & Motorcycle Special Screws/Bolts, Automotive Parts / Welding Nuts / Customization Nuts / Fasteners with the designed drawing www.alpro-metals.com alpro.metals@msa.hinet.net arthur58@ms22.hinet.net
ISO-9001, TÜV
BUYERS' GUIDE
AD page: 86
AMBROVIT S.P.A.
Ambrovit is one of Europe's largest wholesale distributors of screws and bolts. Thanks to the recent doubling of its warehouse, Ambrovit is now able to store over 90,000 ready-to-ship pallets as well as offer a Special Service to guarantee quick delivery within 24/48 hours.
WWW.AMBROVIT.IT sales@ambrovit.it CE, ETA, ISO 9001, TÜV
AD page: 67 APEX FASTENER INTERNATIONAL CO., LTD.
Automotive & Motorcycle Special Screws / Bolts/Automotive Screws / Double-head Screws / Bolts / Lock Nuts / Flange Nuts / Self-locking Nuts / Weld Nuts / Special Bolts / Automotive Nuts / Prevailing Torque Nuts / All Kinds of Nuts
Hex Keys / Bit & Bits Sets / Nut Setters / Socket Bits / Bit Sets / Socket Bit Sets / Bits / Hand Tools / Ratchet Handles / Sockets / Screwdriver Bits
www.baohui-tools.com baohui@corking.tw
寶暉有限公司
IATF:16949, D&B D-U-N-S
CIVATA (BOLT) & LABORATORY SERVICES INC.
Standard & Special Fasteners
Berdan Cıvata produces threaded and threadless fasteners such as bolts, nuts, studs, anchors, etc. in sizes between M16 and M155, in all desired lengths, in accordance with EN, DIN, ANSI, ASTM, ASME, ISO, JIS etc. standards. www.berdancivata.com info@berdancivata.com ISO-9001, ISO-14001, ISO-45001 CE, ISO/IEC-17025
BUYERS' GUIDE
AD page: 92
Piston Pins / Weld Bolts (studs) / Shoulder Rivets / Spacers / Tubes / Triangular Thread Screws / Turning Parts / Hose Clamp Screws / Bushing / Flange Screws / Flange Washer Head Screws / Automotive Parts / Special Screws/Nuts, Assembly Components / Plastic Parts
Hardware : Aluminum Extrusion / Assembly Parts / CNC Machining / Hand Tooling / Plastic Injection / Stamping / Special OEM / Per Print Parts / Per Customer Drawing / Specifications Or sample
Button Head Socket Cap Screws / Flange Screws / Flange Washer Head Screws / Flat Head & Socket Head Cap Screws / Hexagon Head Cap Screws / Hexagon Washer Head Screws / Bolts / Lag Screws / Metric Screws / Socket Head Cap Screws / Flanged Head Bolts / Hexagon Head Bolts / Round Head Bolts www.chanhwei.com.tw sales@chanhwei.com.tw
昌徽企業股份有限公司 ISO-9001:2015
BUYERS' GUIDE
AD page: 263
CELEBRITE FASTENERS CO., LTD.
Self-Tapping Screws / Self-drilling Screws / Roofing Screws / Carbon Steel Screws / High Strength Stainless Steel Screws / SEMS Screws / Wing Screws / Construction Fasteners / Concrete Screws / Drywall Screws / All Kinds of Nuts
General / Air Shears / Pneumatic Hand Tools In General / Hand Tools In General / Hand Rivet Tools, Hand Rivet Nut / Rivet Bolt Tools, Air Hydraulic Rivet / Rivet Nut
Tools / Cutting Tools In General / Cordless Power Tools / Powered Tools In General / Auto Repair Tools
https://www.ccptool.com info@ccp-tw.com.tw
AD page: 211
CHIEH LING SCREWS ENTERPRISE CO., LTD.
Hex-key Wrenches / L-bend Socket Wrenches / Alloy Steel Screws / A2 Cap Screw / Button Head Cap Screws / Button Head Socket Cap Screws / Torx Drive System Screws / Flat Head & Socket Head Cap Screws / High Strength Stainless Steel Screws / Multi-stage Screw & Parts / Multistrokes Special Screws/Bolts / Special Nuts www.jhiehling.com jhieh.ling@msa.hinet.net
Chipboard Screws, Eye Screws, Roofing Screws, Self-drilling Screws, Wood Screws, 4 Pronged T Nuts, Screw Nails, Collated Screws, Concrete Screws, Customized Special Screws. Drywall Screws, Building Parts
AD page: 2
FANG SHENG SCREW CO., LTD. (YFS)
Button Head Socket Cap Screws / Hexagon Head Cap Screws / Socket Head Cap Screws / Socket Set Screws / Customized Special Screws/Bolts / SEMS Screws / Socket Head Shoulder Screws / Hexagon Flange Screws / Flat Countersunk Socket Head Cap Screws / External/Internal Hexalobular Screws / Low Head Socket Cap Screws www.yfs.com.tw erie@mail.yfs.com.tw 芳生螺絲股份有限公司 IATF16949, ISO-14001, ISO-9001, TAF
BUYERS' GUIDE
AD page: 301
FAR FASTENING SYSTEMS - ITALY
Highly experienced Manufacturer since 1957; Specialized into: 1.blind rivets (standard & structural); 2.qualitative rivnuts; 3.installation tools; 4.automated systems customized; Production 100% made in Italy. High level of stocks for the categories 1-2-3 and short lead-time.
Construction Fasteners / All Kinds of Screws / Automotive Screws / Building Parts / Chipboard Screws / PT Screws / TEK Screws / Roofing Screws / Customized Special Screws/Bolts / Special Parts / CNC Machining Parts
Automotive Parts / Special Parts / Stamped Parts / All Kinds of Screws / Automotive & Motorcycle Special Screws/Bolts / Automotive Screws / Building Parts / Customized Special Screws/Bolts / High Low Thread Screws / Multi-strokes Special Screws/Bolts / Multi-stage Screw & Parts/Tapping Screws www.hoplite.com.tw hoplite.ind@msa.hinet.net 合利國際股份有限公司 CE, ISO-9001, A2LA, ISO/IEC-17025
AD page: 163
HOSHENG PRECISION HARDWARE CO., LTD.
Stainless Steel / Brass & Bronze Screws / Phosphor Bronze / Copper / Aluminum Material / A2 Cap Screw / All Kinds of Screws / Automotive Screws / Double Lead Thread Screws / Double-head Screws/Bolts / Left-hand Screws / Self-Tapping Screws
Ball Screws, Cap Screws, Combined Screws, Floorboard Screws, Recessed Head Screws, Socket Head Set Screws, Twelve Point Head Screws, Brass & Bronze Screws, Cold Forged Parts, Elevator Bolts, Screw for Furniture, Concrete Screws, Bolts & Amp. Nuts
IATF16949, ISO-14001, ISO-45001, ISO/IEC-17025, Ford Q1
AD page: 164
J. T. FASTENERS SUPPLY CO., LTD.
Flanged Head Bolts / Stud Bolts / Shoulder Screws / Bushing / Acme Screws / Automotive & Motorcycle Special Screws / Bolts / OEM / ODM / Nylon Cap Insert Lock Nuts / All Kinds of Nuts / Cold Forged Nuts
www.inmetch.com im@inmetch.com.tw
Automotive Nuts / Ball Ended Screws / Turning Parts / Automotive & Motorcycle Special Screws/Bolts / Special Cold / Hot Forming Parts / Open Die Screw / Automotive Screws / Forged and Stamped Parts / Special Parts / Sintered Powder Metal Parts / Bushing / CNC Machining Par ts www.inntech.com.tw inntech.tw@msa.hinet.net 建豪國際股份有限公司 ISO-9001:2015
Rivet Nuts / Blind Rivet Nuts / Plus Nuts / Blind Rivet Studs / Stamped Parts / Special Nuts / Automotive Special Screws/ Bolts / Self-Clinching Nuts / Self-Clinching Studs / Brass Insert / Machining Parts
www.jtfasteners.com.tw info@jtfasteners.com.tw
金祐昇實業有限公司 D&B D-U-N-S, ISO-9001:2015
AD page: 10 J.C. GRAND CORPORATION
Drywall Screws / Self-drilling Screws / SelfTapping Screws / Color-coated Screws / SEMS Screws / Stainless Steel Screws / High Low Thread Screws / Multi-stage Screw & Parts / Thread Cutting Screws / Chipboard Screws / Special Screws / All Kinds of Screws
www.jcgrand.com sales@jcgrand.com
俊良貿易股份有限公司 A2LA, CE, IATF16949, ISO-9001
AD page: 36
JET FAST COMPANY LIMITED
Rubber Nut-Insert, Metal Rivet Nuts, Asia sole distributor of Starlock® push on retaining fasteners
www.joker-fastener.com info@joker.com.tw 久可工業股份有限公司 CE, ETA, ISO-9001:2015, D&B D-U-N-S, IATF16949
www.jungshen.com.tw
nicole.jung.shen@gmail.com
榮燊科技股份有限公司 ISO-9001
AD page: 98
K. TICHO INDUSTRIES CO., LTD.
Bi-metal Self-drilling Screws / Coil Nail Collator / Nuts Tapping Machine / Self-drilling Screw Forming Machine / Tooling For Forming Machine / Thread Rolling Die Plates / Phillips Punches / Multistation Cold Forming Machine / Thread Rolling Machine / Collated Screws / Bi-metal Screw www.screw-nails.com.tw service@ticho.com.tw
帝潮實業有限公司 ISO-9001
AD page: 169 KARAT
Industrial & Professional Hand Rivet Tools, Industrial & Professional Hand Rivet Nut Tools, Industrial Hand Lockbolt Installation Tool, Industrial & Professional PneumaticHydraulic Rivet Tools, Industrial & Professional Pneumatic-Hydraulic Rivet Nut Tools, Industrial Pneumatic-Hydraulic Lockbolt Installation Tool, Blind Rivets for Tool Kits only, Rivet Nut for Tool Kits only. www.KaratTool.com Sales@KaratTool.com
BUYERS' GUIDE
AD page: 297
KAN GOOD ENTERPRISE CO., LTD.
Screw Pack Bags / Machine Screws / Tapping Screws / Set Screws / Long Nuts / Brass Nuts / Post Studs & Studs / Standoffs / Hex Allen Wrench / Pins & Spring Pins / Split Lock Washers / Threaded Rods / Smooth Rods / Springs / Forging Parts / Stamping Parts / Plastic Injection Parts / All Sorts of Special Fasteners for Home & Hardware / Construction and Automotive Industries www.kangoodco.com kangood.co@msa.hinet.net
鋼固企業股份有限公司 ISO-9001:2015
AD page: 161
KATSUHANA FASTENERS CORP.
Drywall Screws, Self-drilling Screws, Twinfast Woodscrews, Roofing Screws, Thread Cutting Screws, Deck Screws, Painted Screws, Chipboard Screws, Collated Screws, Sheet Metal Screws, Masonry/Concrete Screws, Furniture Screws, Thread Rolling Screws www.katsuhana.com.tw khn.begin@msa.hinet.net 濱井企業股份有限公司 ISO-9001, CE 14566, CE 14592
AD page: 267
Hexagon Head Cap Screws / Hexagon Head Bolts / Long Carriage Bolts / Lag Bolts / High Strength Bolts / Eye Bolts / Stud Bolts / Welding Studs / Hexagon Nuts / Wood Screws / Self-drilling Screws / Machine Screws
www.kaowan.com.tw kw6242277@gmail.com
高旺螺絲工業有限公司 ISO-9001:2015
AD page: 333
KD Fittings / Quick Fit Dowels / HI-LO Screws / Chipboard Screws / Euro Screws / Confirmat Screws / 5/32" Screws / Bits / Bit Holders / Drive Socket / Furniture Hardware / CNC Parts
Flanged Head Bolts / Milled Bolts / Rim Bolts / Round Head Bolts / Square Head Bolts / T-head or T-slot Bolts / Track Bolts / Weld Bolts (studs) / Wheel Bolts / Shoulder Bolts / Special Bolts
www.keyuse.com.tw sales@keyuse.com.tw
凱雍工業股份有限公司 IATF16949, ISO-9001, ISO-14001
AD page: 468 KUNTECH INTERNATIONAL CORP.
Hexagon Nuts / Weld Nuts / Flat Head & Socket Head Cap Screws / Hexagon Head Cap Screws / Socket Set Screws / Washer Head Screws / Special Screws / Rivets / PPAP Documents / Washers / Automotive & Motorcycle Special Screws/Bolts / All Kinds of Screws
All Kinds of Screws / Alloy Steel Screws / Appliance Screws / Assembly Captive Screws / Automotive Screws / Combined Screws / Customized Special Screws / Bolts / High Low Thread Screws / Miniature Precision Screws / Multi-stage Screw & Parts / Triangular Thread Screws / Torx Drive System Screws www.liyou-screw.url.tw info@liyouscrew.com
立侑螺絲工業有限公司 ISO-9001, ISO-14001, IATF16949
AD page: 160
LINK-PRO TECH
Blind Nuts / Rivet Nuts / Custom Pins / Threaded Nails / Custom Washers / Automotive Parts / Forged and Stamped Parts / CNC parts, CNC lathe / Special Parts / Socket Set Screws / Customized Special Screws/Bolts / Cage Nuts / Nylon Nuts With Conical Washers www.lpt.com.tw sales@lpt.com.tw
ISO-9001
AD page: 253 LIAN CHUAN SHING INTERNATIONAL CO., LTD.
Weld Nuts / Special Parts / Carbon Steel Washers / Custom Washers / Flat Washers / Special Size Washers / Lock Washers / Cage Nuts / Tubes / U Nuts / Tee or T Nuts
Turning Parts / Automotive Parts / CNC parts, CNC lathe / Hydraulic Components / Machine Parts / Stamped Parts / Special Parts / Special Cold/Hot Forming Parts / Forged and Stamped Parts
貿詮實業有限公司 IATF16949, ISO-14001, ISO-9001, ISO 14064-1, VDA 6.1
AD page: 66
Alloy Steel Socket Head Cap Screws, Button Head Socket Cap Screws, Flat Head Socket Cap Screws, Socket Set Screws, Square Head Set Screws, Hex Keys, Hexagon Head Cap Screws, Customized Special Screws/ Bolts, SEMS Screws, Machine Screws, Shoulder Screws, Screws in small packs, Metric Screws, Inch Screws www.tuz.com.tw sales@tuz.com.tw
Sheet Metal Screws / Triangular Thread Screws / Roofing Screws / Self-drilling Screws / Wood Screws / Appliance Screws / Construction Fasteners / Self-Tapping Screws / Security Screws / Screws in small packs / OEM / ODM / Farmer Screws
www.molscorp.com.tw mols@molscorp.com.tw
冠鑫貿易股份有限公司 ISO-9001, CE 14566
Button Head Socket Cap Screws / Chipboard Screws / Drywall Screws / Flat Head & Socket Head Cap Screws / Sheet Metal Screws / Socket Head Cap Screws / TEK Screws / Machine Screws / Deck Screws
www.minhwei.com.tw export@minhwei.com.tw
AD page: 113
MOUNTFASCO INC.
Automotive Screws / Bolts / Dowel Pins / Solid Rivets / Ball Ended Screws / All Kinds of Screws / Alloy Steel Screws / Automotive & Motorcycle Special Screws/Bolts / Carbon Steel Screws / Connecting Rod Bolts / Construction Bolts / Custom Bolts
Pipe Anchors, Wall Anchors, Spring Washers, Countersunk Bolts, Square Head Bolts, Button Head Socket Cap Screws, Countersunk Screws, Double Lead Thread Screws, Double-head Screws / Bolts, All Kinds of Nuts, Flange Nuts, Concrete Screws
Stainless Steel Wire & Rod / Rivets / Customized Special Screws/Bolts / Flat Head & Socket Head Cap Screws / High Strength Stainless Steel Screws / Weld Screws / Triangular Thread Screws / TEK Screws / Tamper-proof Screws / Socket Head Cap Screws / High Temperature Screws / PT Screws www.senchang.com sc337@ms6.hinet.net
昇錩實業股份有限公司 CE, ISO-9001
BUYERS' GUIDE
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SCREW KING CO., LTD.
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Let’s dive into the changes in demand for fasteners imported by the EU from around the world in the past six years (Figure 1). The trends in import value and import weight are similar. After hitting the bottom in 2020, the import value rebounded by 71.3% to a peak of 8.05 billion euros in 2022. It went downward by 18.9% in 2023 to 6.52 billion euros, and approached the 2021 level (5.98 billion euros) and potentially even the pre-pandemic level in 2019 (5.42 billion euros). It can be seen that the EU's fastener import demand reversed downwards after 2022 and was sharply going back towards normal levels. The drop margin in 2023 was close to half of the growth margin ranging from 2020 to 2022, so we can speculate that the import demand may completely return to normal levels starting from the end of 2024 to the first half of 2025.
Fig 1. EU's Total Fastener Import Value (Euro) & Quantity (Kg) with the World in the Past 6 Years
2. EU's Fastener Import Weight in the Past 3 Years (By Country)
Narrowing the scope to the past three years, let’s look at EU's top ten fastener import sources (Table 1). The top five sources were China, Taiwan, Turkey, India, and Vietnam. China and Taiwan remain each other's main rivals in the European market. Interestingly, as the global visibility and importance of the South Asian and Southeast Asian markets have greatly increased since last year, India and Vietnam are among the top five in the rankings, and Thailand is sixth. These three countries are currently highly potential markets for fastener investment.
It should be noted that Figure 2 shows EU's demand for fasteners from Taiwan and China declined significantly in 2023, and its demand for Vietnam, India and Turkey has also declined, but the demand for Thailand has steadily increased.
Figure
Fastener Export Statistics
Changes in EU's global exports of fasteners in the past six years (Figure 3) show that export value and export weight have divergent trends. After hitting bottom in 2020, the export value rebounded to a peak of 5.57 billion euros in 2023, up 29.0%, far exceeding the level in 2019 before the pandemic (4.80 billion euros). It is worth noting whether EU's fastener export value will reach a new high in 2024. The export weight continued to swing between the 5.6 billion and 6.5 billion euro mark. Overall, the changes are not significant, and they are not much affected by dramatic changes such as the pandemic.
Table 3. EU's Total Fastener Export Value (Euro) & Quantity (Kg) with the World in the Past 6 Years
As shown in Table 2, EU's top ten fastener export destinations in the past three years were the U.S., China, UK, Mexico, and Turkey. The U.S. and China were the primary competitors for each other in the European market. Besides exporting to advanced countries, quite a portion of EU fasteners were also exported to emerging countries such as Mexico, Turkey, Brazil, and India.
Table 2. EU’s Fastener Export Value and Weight in the Past 3 Years (By Country)
Figure 4. EU's Fastener Export Weight in the Past 3 Years (By Country)
Unit: Euro
8,000,000,000 9,000,000,000
6,000,000,000 7,000,000,000
5,000,000,000
4,000,000,000
3,000,000,000
2,000,000,000
1,000,000,000
Figure 4 shows the weight of fasteners exported by the EU to the U.S., China, Switzerland, Brazil, and Norway all decreased in 2023. On the contrary, a relatively larger increase for three consecutive years existed in the weight of exports to Mexico and Turkey, and a relatively smaller increase for three consecutive years existed in the weight of exports to India and Morocco.
Comparing Fastener Import and Export Values
Comparing EU's fastener import and export values in the past six years (Figure 5), it is not hard to find that EU fasteners are mostly importoriented. The import and export values both bottomed out in 2020, but the difference is that the import value rose sharply through to 2022 and peaked in that year before trending downward in 2023, while the export value rose steadily and relatively slightly after hitting bottom and then continued hitting highs onto 2023. 5,493,456,681 5,422,279,123 4,703,452,379 5,989,693,891 8,057,686,959 6,528,821,893 4,754,558,225 4,806,802,790 4,318,000,763 4,893,380,898 5,348,563,4145,571,931,622
Unit: Kg
Figure 5. Comparison of EU Fastener Import and Export Values (Euros)
U.S.
U.S. Import Statistics
Over the past 7 years, the value of fasteners imported by the U.S. from the world (Figure 6) has fluctuated. In 2018 when the U.S.-China trade war broke out, it rose by 16.6%. In 2020 when the pandemic broke out, it dropped 13.3%, falling back to the level lower 2017. However, it increased by 61.5% from 2020 to 2022 and fell by 18.0% in 2023 to USD 6.326 billion. The import volume from January to August 2024 was USD 4.469 billion.
Figure 7 shows that among the top ten import source countries, in terms of value, Taiwan has been the largest import source for the U.S. for at least seven consecutive years, followed by China and Japan. The value of U.S. imports from Taiwan reached its highest point in 2022 and exceeded the USD 3 billion mark. In the same year, the value of imports from China also reached a high of the USD 1.6 billion mark. The phenomenon of reaching a high point also occurred in South Korea and India.
Figure 6. Value of Fasteners Imported by the U.S. from the World from 2017 to 2023
Figure 7. Value of Fasteners Imported by the U.S. from Top 10 Trading Partners from 2017 to 2023
The 2023 value of imports from Taiwan and China plummeted back near the 2021 level. Relatively speaking, such an extreme plunge did not occur in other source countries. In the past seven years, the value of U.S. imports from Canada, Germany, South Korea, Italy, Mexico and France has roughly continued to rise, although comparatively much smaller in scale.
From January to August this year (Figure 8), the ranking of the top ten import source countries for the U.S. is the same as Figure 7, from which we can tell the ranking results for the 12 months of 2024 should not be much different.
Figure 8. Value of Fasteners Imported by the U.S. from Top 10 Trading Partners from Jan. to Aug. 2024
Value of Fasteners Imported by the U.S. from Jan. to Aug. 2024 : USD 4.469 billion
U.S. Export Statistics
Figure 9 shows that the value of U.S. exports of fasteners to the world fell by 17.2% in 2020, lower than the level in 2017, and then climbed for three consecutive years, with a total cumulative growth margin reaching 49.9%, reaching USD 5.462 billion in 2023. Excluding 2020, the value of fasteners exported by the U.S. to the world has generally continued to increase in the past 7 years. The export value in the first eight months of 2024 was USD3.843 billion.
Figure 10 shows that among the top ten export destinations, Mexico has been the largest export destination for the U.S. for at least seven consecutive years, followed by Canada. Excluding 2020, the value of U.S. exports to Mexico and Canada has roughly continued to increase in the past 7 years. The value of exports to Thailand surged by 282% in 2023.
Figure 9. Value of U.S. Fastener Exports to the World from 2017 to 2023
Dollars US illion M Unit:
Value of U.S. Fastener Exports from Jan. to Aug. 2024 : USD 3.843 Billion
Figure 11 shows that the ranking of the top ten export destinations for the U.S. from January to August this year has changed compared with Figure 10. Mexico which was ranked first, Canada second, China third, South Korea ninth, and Singapore tenth, remain unchanged, while the rankings of other destinations have changed, with France and Japan newly added.
Figure 10. Value of Fasteners Exported by the U.S. to Top 10 Trading Partners
from 2017 to 2023
Figure 11. Value of Fasteners Exported by the U.S. to Top 10 Trading
Partners from Jan. to Aug. 2024
Japan
Japan Import Statistics
Table 3 shows that the weight of Japan's imported fasteners from the world increased by 3.0% in 2022 and reached a high point, then fell by 12.9% to 285,000 tons in 2023, lower than the 2021 level. The import weight from January to August 2024 was 192,000 tons.
Figure 12 shows that Japan's largest source of fastener imports in 2023 was China, accounting for 70%, followed by Taiwan for 19%, and Vietnam for 5%. Returning to Table 3, in the past 3 years, Japan's import weight from China, Taiwan, Thailand, Malaysia, and Germany all reached a high point in 2022 and declined in 2023. The weight of import from Vietnam, India and Italy generally continued to increase. The weight of import from S. Korea and the U.S. continued to decrease.
Table 3. Top 10 Countries Importing Japanese Fasteners
Japan PC Code 61703: nails, bolts, nuts, etc. (Source: Ministry of Finance of Japan)
Figure 12. Weight of Japan’s Fastener Imports from Top 10 Trading Partners in 2023 (Metric Tons)
USA 1,110, 0%
Malaysia, 1,599, 1%
Thailand, 3,890, 1%
S. Korea, 10,681, 4%
Vietnam, 14,419, 5%
Italy, 539, 0%
India, 578, 0%
Germany, 1,070, 0%
70%
Taiwan, 52,523, 19%
Japan's Export Statistics
Table 4. Top 10 Destinations for Japan’s Fastener Exports
Japanese PC code 61509: nails, bolts, nuts, etc.
(Source: Ministry of Finance of Japan)
Table 4 shows that the weight of Japan’s fastener exports to the world has continued to decrease in the past 3 years, falling below the level in 2021. The export weight from January to August 2024 was 194,371 tons.
Figure 13 shows that Japan’s largest fastener export destination in 2023 was the U.S., accounting for 30%, followed by China for 23%, Thailand for 16%, Indonesia for 9%, and India and Mexico for 6%. It is worth noting that the weight of Japan's exports to India and Malaysia has increased continuously in the past 3 years, while the weight of Japan's exports to China has continued to decrease.
China
Figure 13. Weight of Japan’s Fastener Exports with Top 10 Trading Partners in 2023 (Metric Tons)
Turkey, 4,825, 2%
UK, 5,793, 2%
Malaysia, 7,211, 3%
Brazil, 9,094, 3%
Mexico, 15,565, 6%
India, 15,638, 6%
Indonesia, 22,417, 9%
U S., 75,918, 30%
China, 58,962, 23%
Thailand, 41,294, 16%
The latest data from General Administration of Customs of China shows that the value of China’s fastener export to the world continued upward from 2018 to 2022 (Figure 14) and exceeded the USD 10 billion mark in 2022. In these four years, the value increased from USD 6.4 billion to USD 10.9 billion, a significant growth of 69.5%. 2022 has become a dividing year between the upward and downward trends. The export value in 2023 (USD9.13 billion) fell back to the level close to 2021, down 16.4%. In H1 2024, the export value reached USD 4.55 billion (Table 5). Based on this accumulation, the export value for the 12 months of 2024 may be somewhere close to the level of 2023, and overall could still be in a downward range. However, it should still be higher than the pre-2019 level. In other words, it is past the record-breaking phase. Without critical international political and economic changes, there is still a high chance that China's fastener export value will gradually decline from this to next year.
Figure 15. China’s Import Value of Fasteners from the World from 2018 to 2023
Unit: in USD
5,500,000,000
5,000,000,000
4,500,000,000
4,000,000,000
3,500,000,000
3,000,000,000
Figure 14. China’s Export Value of Fasteners to the World from 2018 to 2023 3,219,467,370 2,839,393,284 2,786,542,569 3,280,348,178 2,856,814,125 2,445,658,277
2,500,000,000
2,000,000,000
1,500,000,000
1,000,000,000
China's import of fasteners from the world was generally decreasing in the past five years (Figure 15), from USD 3.21 billion in 2018 to USD 2.44 billion in 2023, down 24.0%, indicating China's demand for overseas fasteners continued to decrease. The import value in H1 2024 was USD 1.23 billion (Table 6). It is estimated that the import value in the 12 months of 2024 may approach the level of 2023.
Table 5 shows that the main export destinations for China's fasteners in H1 2024 were the U.S., Russia, Vietnam, Germany, and South Korea, where the U.S. accounted for 14.9% (USD 670 million) and significantly surpassed other export destinations. Table 6 shows the main import sources were Germany, Japan, the U.S., Taiwan, and Italy, where Germany (USD 250 million) and Japan (USD 240 million) both accounted for more than 20%. It shows that in H1 2024, China mainly sold fasteners to the U.S. and imported fasteners mainly from Germany and Japan.
Table 5. China’s Fastener Export Value in H1 2024 (HS code 7318)
Table 6. China’s Fastener Import Value in H1 2024 (HS code 7318)
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