Fasteners, commonly referred to as standard parts in the market, are a broad category of mechanical components used to join two or more parts together. They play a vital role in various industries such as machinery, equipment, vehicles, ships, railways, bridges, construction, tools, and instruments. According to Luo Baihui, Secretary General of the International Model Association, with the continuous development of China’s manufacturing sector, fasteners have become one of the most traded products, meeting international standards. This not only holds practical significance but also strategic importance for Chinese fastener companies aiming to expand globally and participate more actively in international cooperation and competition.
Each type of fastener has specific specifications, dimensions, tolerances, weights, performance characteristics, surface conditions, marking methods, and packaging requirements, which are outlined in several national and industry standards. These include systems from countries like the United States, Germany, and the UK, reflecting the global nature of fastener production and use.
The machinery industry is one of the largest consumers of fasteners. However, due to a late recognition of the importance of basic mechanical components in this sector, China has historically underinvested in this area, leading to weak infrastructure and limited capabilities. As the level of Chinese mainframe technology improves, the lag in mechanical basic components has become increasingly apparent. Although the government has provided some support in areas such as technology introduction, upgrades, and R&D, there is still a significant gap compared to market demand and foreign standards. The issues include a limited product range, unstable quality, high early failure rates, and poor reliability.
As essential basic components in the machinery industry, fasteners face higher demands as the industry evolves. Luo Baihui points out that while common standard fasteners are oversupplied domestically, high-end fasteners—such as those designed for high temperatures, special shapes, titanium-plastic composites, or unique properties—are in short supply and still rely on imports. The National Machinery Bureau has classified "common standard fasteners" as restricted development products, while "high-strength shaped fasteners" are encouraged for growth. 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 these figures, the annual demand for high-strength fasteners is estimated at 20,000 to 30,000 tons. Fasteners, as key basic components, are not only fundamental to China's equipment manufacturing industry but also a crucial foundation across all sectors of national economic development. While maintaining cost advantages, the industry must rely on new strengths such as technological innovation, improved quality, and better cost-performance to achieve sustainable growth. It is projected that by the end of 2015, the total output of the industry will reach 7.5 to 8 million tons. With growing exports, the export volume is expected to rise, with an average annual growth rate of 8% to 10%. By 2015, the total export value of the industry could reach 30 billion yuan.
Domestic fastener manufacturers should look ahead, as major national projects such as high-speed rail, aerospace, highways, and airports offer opportunities to move toward high-end markets. For instance, Boeing plans to add 3,400 aircraft over the next 20 years. The National Development and Reform Commission has invested 800 billion yuan to build rail transit in six cities. With 36 urban rail transit projects planned, the 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 demand for high-end fasteners like high-strength and titanium alloy components, making it possible for Chinese manufacturers to shed their "low-end" image.
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