Industry Analysis & Industry Trends
Fasteners are important components in many products and constructions as they can protect a product's integrity. Low-quality fasteners pose a serious hazard and can result in equipment failure, personal injury and even loss of life. UK manufacturers target niche high-value segments, but the local industry is small on a global scale, with the global market for fasteners worth over US$50 billion. The major players in this UK-based industry are subsidiaries of foreign-owned global companies.
The Fastener and Screw Machine Product Manufacturing industry is expected to generate revenue of £426.9 million in 2012-13, down 0.8% compared with revenue in 2011-12. The domestic market for fastener and screw machine products is estimated to total £801.5 million in 2012-13, up 1.0%.. purchase to read more
Industry Report - Industry SWOT Analysis Chapter
A number of factors indicate the industry has entered the decline phase of its life cycle. Industry value added declined in real terms in the five years through 2012-13, and is forecast to decline in the five years through 2017-18.
Manufacturing capacity is shifting from advanced high-cost countries (like the United Kingdom) to low-cost countries, which will weigh down on advanced countries' demand for industrial fasteners.
Import competition is very strong and increasing. Fastener manufacturers in low-cost countries are gaining share of the UK market... purchase to read more