In the machinery industry, small fasteners play a vital role despite their size. Industry experts emphasize that these tiny components are essential in the construction of large-scale systems. Although they may seem like minor players, their importance cannot be overstated. Because of their critical function in connecting different parts, consumers often develop a preference for brands that produce high-quality fasteners.
Fasteners, also known as standard parts, are mechanical components used to join two or more elements together. They are widely applied in various fields such as machinery, vehicles, ships, railways, bridges, buildings, tools, and instruments. According to Luo Baihui, Secretary General of the International Model Association, with the growth of China's manufacturing sector, fasteners have become one of the most traded products in the country, meeting international standards. This development holds significant practical and strategic value for Chinese fastener companies aiming to expand globally and participate more actively in international cooperation and competition.
Each fastener product has specific specifications, dimensions, tolerances, performance requirements, surface conditions, and packaging standards. These are regulated by several national and industry standards, including English, German, and American systems.
The machinery industry is one of the largest consumers of fasteners. However, due to late recognition of the importance of basic mechanical components, China has long lacked sufficient investment, leading to a weak foundation. As the level of mainframe technology improves, the limitations of basic components have become increasingly apparent. Although the government has provided some support in areas like technology introduction and R&D, there is still a significant gap compared to market demand and foreign standards. Issues include limited product variety, unstable quality, high early failure rates, and poor reliability.
As key basic parts in the machinery industry, fasteners face higher demands as the sector develops. Luo Baihui points out that while common standard fasteners are oversupplied domestically, high-end fasteners—such as those made from titanium, plastic composites, or with special properties—are in short supply and rely heavily on imports. The National Machinery Bureau has classified "common standard fasteners" as restricted, while "high-strength shaped fasteners" are encouraged for development.
With improvements in industrialization and technological progress, the use of high-strength fasteners is gradually increasing. During the 12th Five-Year Plan period, the number of construction machinery products like loaders, excavators, and road rollers is expected to reach 6 million units, with annual sales around 50,000 units. Based on this, the annual demand for high-strength fasteners is estimated at 20,000 to 30,000 tons.
Fasteners are not only fundamental to China’s equipment manufacturing but also a crucial part of national economic development. While maintaining cost advantages, the industry must focus on new strengths such as technological innovation, quality improvement, and better cost-performance ratios to ensure sustainable growth. By 2015, the total output of the industry is expected to reach 7.5 to 8 million tons, with exports showing an upward trend. The average annual export growth rate during the 12th Five-Year Plan period is projected to be 8% to 10%, reaching 30 billion yuan in total exports by 2015.
Domestic manufacturers should look ahead, as major national projects like high-speed rail, aerospace, highways, and airports offer opportunities to move into high-end markets. Boeing plans to add 3,400 aircraft over the next 20 years, while the National Development and Reform Commission has invested 800 billion yuan in rail transit projects across six cities. With 36 urban rail projects planned, new rail mileage will reach 6,560 kilometers, creating a demand for rail fasteners worth 5.5 to 7 billion yuan. These large-scale projects will significantly boost the need for high-end fasteners like high-strength and titanium alloy components, making it possible to shed the "low-end" label.
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