Analysis of Export Market of Fastener Industry in China in 2010

In recent years, China's fastener industry has maintained a steady growth trend, and the accelerating integration with the economies of various countries in the world has made it an increasingly important force in the international economy.

Demand for fasteners in China from the United States, Japan, Germany, France, the United Kingdom, Canada, Italy, South Korea, and Spain is also rising year by year. Among them, the satisfaction rate of China's automotive fastener products has reached more than 60%, and the satisfaction rate in the domestic market has reached more than 70%.

1. China's fastener export volume and export amount from 2001 to 2010

According to statistics from authoritative organizations, during the “10th Five-Year Plan” period, the average annual growth rate of fastener production in China is about 15%, with an average annual growth of approximately 25% in sales, and an average annual increase in exports of approximately 30%. The average annual increase in imports is approximately 25%. In 2008, China's fastener exports amounted to 2.69 million tons, an increase of only 4.67% from 2.57 million tons in 2007. In 2008, the total amount of fasteners exported from China was approximately 4.396 billion U.S. dollars, an increase of 34.97% over 2007. Since 2009, the demand for fasteners has dropped significantly due to the sluggish global market. In 2009, the decline in fastener exports in Shanghai was 1.9 percentage points higher than the national decline. In the first half of 2010, export orders of domestic fastener companies generally rebounded. Some companies' orders may even be overdone, and the most difficult moments are gradually disappearing.

2. Outlook of China's 2010 Automobile Fastener Exports

Gasgoo.com statistics show that since May, buyers’ purchase intentions have begun to heat up. As of May 30, purchases of international buyers for the month were 358 times, far exceeding the frequency of 164 in March. According to data provided by the Jiaxing Fasteners Association, Zhejiang Dongming's export value for the first four months of this year increased by 1,776.42% from the same period of last year to a total of US$9.33 million.

It is undeniable that after years of development, China's automotive fastener products have now built the world's largest, more complete varieties and better quality production systems. The high cost-effectiveness results in a stronger "Made in China" integrated competitiveness. Despite the financial crisis, the (relative) appreciation of the renminbi, the decline in the prices of raw materials, and the EU's anti-dumping measures, the demand for international fasteners for China's fasteners has remained very hot.

3, fastener companies to deal with the crisis and the EU's main anti-dumping strategy

Since 2009, affected by the financial crisis and anti-dumping measures of the European Union, purchases of fastener parts by international buyers have declined sharply in China. Although there has been a recovery in the first half of 2010, hidden concerns remain. The European debt crisis has exported to China. The impact may continue. So how should China's fastener companies deal with a variety of factors and go out of business? To this end, Gasgoo.com has conducted surveys on more than 30 domestic fastener companies. The surveyed companies include Odaco, Shandong Gaoqiang, Yuhuan Seiko Machinery, and Shanghai Detec Precision Fasteners. The survey shows that adjusting the market structure, increasing scientific management, and maintaining relationships with major customers will be key strategies for fastener companies to cope with the crisis and EU anti-dumping.