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          1. Hardware & Fastener Manufacturing Industry Profile

            Report Page Length: 10-12
            Last Quarterly Update: 6/15/2020
            SIC Codes: 3429, 3451, 3452
            NAICS Codes: 33251, 33272
            Chapters Include:
            Industry Overview Trends & Challenges Industry Forecast
            Quarterly Industry Update Call Prep Questions Website & Media Links
            Business Challenges Financial Information Glossary & Acronyms
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            Excerpt from Hardware & Fastener Manufacturing Industry Profile

            Companies in this industry manufacture hardware (including metal hinges, handles, keys, and locks) or fasteners (including metal nuts, bolts, screws, and rivets). Major companies include Illinois Tool Works, MNP Corporation, Precision Castparts, and Simpson Manufacturing (all based in the US), as well as Adolph Würth (Germany), Aoyama Seisakusho (Japan), Chun Yu Works (Taiwan), KPF (South Korea), and Ningbo Jiulong Fasteners Manufacture (China).

            Driven by increased production of automobiles, machinery, and other durable goods, global demand for industrial fasteners is forecast to rise more than 3% per year through 2020, reaching a value of more than $83 billion, according to Freedonia Group. Top countries for hardware and fastener production include China, Germany, Japan, South Korea, and the US.

            The US hardware and fastener manufacturing industry includes about 5,000 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $35 billion.

            COMPETITIVE LANDSCAPE

            Demand is driven by the needs of other industrial companies, and to a lesser extent by consumer spending. The profitability of individual companies depends on technical expertise and efficiency of operations. Large companies have economies of scale in purchasing raw materials. The specialized nature and use of many products allows smaller companies to compete effectively. The US hardware segment is concentrated: the top 50 companies account for 80% of segment revenue. The fastener segment is fragmented: the top 50 companies account for 30% of segment revenue.

             
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