CLEVELAND, June 8, 2017 /PRNewswire/ -- Global industrial fastener demand will grow 3% in 2017, according to Ken Long, manager of capital goods research at the Freedonia Group. Long spoke at the inaugural Fastener Industry Summit, held June 7th in Rosemont, Illinois. His presentation provided an analysis of current fastener market conditions and forecasts from two recent Freedonia studies, Global Industrial Fastener Market and US Industrial Fastener Market.
"Growth in world fastener demand in 2017 will be bolstered by a rebound in US sales and advances in areas where demand in dollar terms has been adversely affected by a rise in the value of the US dollar," Long said. The fastest market gains will be posted in China, India, and other developing parts of Asia, fueled by increases in durable goods production. US fastener demand, which declined in 2016, is projected to climb 2.3% in 2017.
The Fastener Industry Summit was sponsored by the Fastener Industry Coalition, an organization composed of 13 national and regional fastener associations.
The Freedonia Group's industrial fastener studies can be accessed here:
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, market share information and profiles of the leading industry players. Reports can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
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SOURCE The Freedonia Group