The future development of U.S. fasteners will show four major trends

The development prospects of the U.S. fastener industry are still very large. With the gradual recovery of the U.S. economy, U.S. fastener industry is gradually on the right track. The fasteners will develop in the following four major trends:

1. The United States real estate and construction industry will fully recover. However, the development of the fast-changing fastener industry still needs to wait until a large amount of backlog inventory is exhausted by the market before it can be determined. This also depends on the recovery of the employment rate in the United States, because the employment rate directly affects the confidence of American consumers in buying new homes. In spite of this, we hope that in the future, with the increase in the number of housing improvements for improved households, the US real estate market will be able to grow at a considerable rate, thereby stimulating the growth of the US fastener industry.

2. In addition to Taiwan and mainland China, the US fastener import market will be diversified. Emerging economies will enter the US fastener industry because buyers will be more inclined to find more stable suppliers besides traditional markets to save costs and shorten delivery time. The transportation company also complied with this trend and expanded the shipping routes of major ports.

3. The shipment of imported fasteners will be docked in the United States to be closer to end users. Over the past seven years, shipments from Asia have gradually shifted to the eastern ports of the Panama Canal, as companies can avoid reducing their extra transportation costs in southern California. They want to make full use of the expanded Panama Canal to transport goods from vessels in Southeast Asia and India to the west. Figure 6 shows the overall trade trend of fasteners in the United States over the past seven years.

4. Developed economies such as Europe and the United States will continue to import most of the fasteners and other products from China. However, manufacturers in these countries will focus on some unique products and take advantage of the rising logistics costs to better serve their customers.

In the past two years, the fastener industry in the United States has been rather bumpy, but looking ahead, the US fastener industry will surely return to its previous level of development. Perhaps, we will face some challenges including economic and political macro factors, but at the same time, fastener companies will also usher in a lot of room for development, and the prospects are still very substantial.

In the past two years, the global trade landscape has undergone tremendous changes. Not only have companies in the United States and Europe experienced a long period of economic weakness, but the world has also noticed a reduction in demand from traditional economies. Although the GDP of China and other Asian countries has continued to grow, due to the slow economic recovery of Western countries, the global economy has slowed down. Therefore, when we analyze the fastener industry, we first need to have a complete understanding of the entire supply chain and stakeholders.

The healthy development of the fastener market is based on many other industries. The demand for fasteners is affected by many factors such as the real estate market, the manufacturing industry, and the company's production of durable products. It is necessary to analyze the factors affecting the supply of fasteners because we can understand these factors to understand the ultimate cost expectations of fastener manufacturers. These factors mainly include steel and copper prices, transportation costs and loading capacity. . Understanding and paying attention to these industries will help us to fully grasp the development trend of the fastener industry in the next year.