Analysis and development prospects of China's fastener industry

From 2011 to 2017, the growth of Chinese auto production and sales had been slowed. In 2017, the production reached 29 million and 15400 units and sales reached 28 million and 878900 units, so an increase of 3.195% and 3.04% over the previous year.
      1.    Analysis of automotive fastener procurement needs
From 2011 to 2017, the growth of Chinese auto production and sales is slowed. In 2017, the production reached 29 million and 15400 units and sales reached 28 million and 878900 units, so an increase of 3.195% and 3.04% over the previous year.
Statistic shows that the automotive fastener products made in China are already able to meet above 60% of the varieties needs, and more than 70% needs in the domestic market. The production capacity of low value-added products has greatly exceeded market demands. Automotive fastener, as a labor-intensive and raw material-intensive industry, China is also stepping up technology R&D and equipment import.
  However, compared with the level of foreign advanced fasteners, China's comprehensive fastener technology is slightly backward. The key components as cylinder head bolts, linkage bolts, wheel bolts are mainly imported due to material reasons. Although the domestic research on this is also carried out simultaneously, but it’s currently unable to mass production, and can’t meet market demands. At present, China's automotive fasteners market mainly exists the following problems.
 2. Automotive fasteners development trends and prospects
  The improvement of the competitiveness of China's automotive fasteners is largely due to the emergence of BYD, Great Wall and other automobile companies. The development of the automotive industry also put forward higher requirements of fastener products, forward-looking that the future of automotive fasteners will present the following trends.
  From the automotive industry, automotive fasteners demand accounted for a high proportion, about 23% of the total sales of the entire fastener industry. In the automotive industry, fasteners for automobiles can be applied to almost every subsystem.
  Although the growth rate of the automotive market has been slowed, but the market competition is still fierce, following by the continuous improvement of the requirements of automotive fasteners such as light-weighting, environmental protection, long life and other aspects, enterprises shall continue to update their equipment. It can be seen that the market potential for automotive fasteners is huge.
 The analysis of forward-looking predicts that China's auto production will be around 41.12 million units by 2022. According to statistics, a light vehicle or passenger car contains about 580 varieties, 50kg, 5000 pieces of fasteners; A medium-sized or heavy truck commercial vehicle needs about 5710 pieces of fasteners, 90 kg in mass, if calculated at 70 kg per vehicle, the size of the automotive fastener market in 2023 will exceed 2.85 million tons. If car maintenance needs are also taken into account, there will be a greater demand