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Industrial Fasteners (Industrial Report) - UK - August 2014

“The UK industrial fastener market was severely affected by the recession, as demand from key end-use sectors like automotive and construction collapsed. However, the market has recovered since 2009, largely driven by increased investment in the UK automotive and aerospace industries. Continued strong demand from these sectors will also underpin market growth over the next five years, supported by increased demand from the civil engineering and wider construction sector.”
– Claudia Preedy - Industrial Analyst

This report will explore the following key questions with regard to the UK industrial fastener market:

  • How has the industrial fastener market performed over the last five years?
  • What are the growth prospects for the industrial fastener market over the next five years?
  • Which key end-use sectors are driving demand for industrial fasteners in the UK?
  • How have the key players in the industry performed financially in recent years?
  • What are the drivers for innovation within the industrial fastener sector?

Industrial fasteners include a wide variety of mechanical fastening devices, ranging from mass produced simple items with little opportunity for product differentiation, to complex and ad-hoc products designed for specialist applications. The most common form of product segmentation identifies:

  • Threaded fasteners
  • Non-threaded fasteners

The major types of threaded fasteners are:

  • Bolts
  • Nuts
  • Screws

Bolts are usually used in conjunction with nuts. A variety of materials are used for their production, depending on the required tensile strength of each application. Standard bolts are made of iron or steel, with brass and copper bolts widely used in electrical assemblies. Aluminium bolts are frequently, but not exclusively, used in the aerospace sector, and those made of nickel are used where high temperature tolerances are required.

Standard nuts utilise hexagonal heads, although square-headed nuts are commonly used for woodworking applications. Different shape variations are also used to ensure the satisfactory locking of bolts. In safety-critical applications and where frequent vibration occurs, self locking nuts are most commonly used. Applications for self locking nuts have increased strongly over the past few years and a wide range of such mechanisms are now available.

Screws differ from bolts as they have the capability to be used in a threaded hole without a nut.

The most commonly identified non-threaded fasteners are:

  • Nails
  • Tacks
  • Studs
  • Staples
  • Rivets
  • Washers

Nails and tacks are some of the simplest mass produced fasteners, with little opportunity for product differentiation. Even so, a wide variety of materials are used in their production dependent on the required tensile strength and corrosive resistance of the finished item. Studs and staples also tend to have similar characteristics.

Rivets are one of the oldest forms of fastener, and like most fasteners can be manufactured using a wide variety of materials, dependent on the application for which the product is required.

Washers are also classified as non-threaded fasteners, although strictly they are not fasteners, but components within a fastening system.

Increased levels of automation in the end user industries, particularly the automotive sector, have fundamentally changed the requirements of fasteners in recent years. In the past, the emphasis of production centred around time, handling and effort, but now the key characteristics are repeatability and tight performance tolerance.

The increased life expectancy of many end use products, such as the two-sided galvanization of automotive bodies, better finishes, increased use of plastics, and new designs in engines and transmissions, have demanded that fasteners be adapted to greater longevity. This has resulted in old practices, such as electroplating and phosphate and oil finishing, being replaced by sophisticated organic coatings. In turn, this has led to adjustments in tightening strategies and torque/tension testing.

Organic coatings include dry paint films or the subsequent oil treatment of products. Pigmented oil films have proved both versatile and capable of self-healing. Zinc rich coatings have proved useful where a sacrificial layer is required for use against other metals, such as aluminium or magnesium to protect against galvanic corrosion.

All values quoted in this report are at constant prices unless otherwise specified.

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Table of contents

  1. Executive Summary

      • The market
          • Figure 1: The UK market for industrial fasteners, 2009-13
        • UK market for industrial fasteners set for continued growth through to 2018
          • Figure 2: Forecast UK market for industrial fasteners, 2014-18
        • Industrial fastener market to benefit from increased investment in UK automotive and aerospace industries
          • Increased construction and civil engineering activity to provide a positive impetus for industrial fastener market
            • Figure 3: Forecast construction output in Great Britain, 2014-18
          • Market factors
            • Figure 4: UK car production, 2008-14
          • The construction industry is a further major area of demand for industrial fasteners
            • The UK has the second largest aerospace industry in the world
              • The aerospace sector is driving development and innovation in the fastener sector
                • Figure 5: UK turnover of aerospace equipment, by sector, 2009-13
              • Companies
                • What we think
                • Introduction

                    • Definitions
                      • Methodology
                        • Abbreviations
                          • Market positioning
                          • UK Economy

                            • Overview
                              • Inflation
                                • Interest Rates
                                  • House prices
                                    • Consumer Spending
                                      • Manufacturing
                                        • Business Investment
                                          • Imports
                                            • Exports
                                            • Market Factors

                                              • Market Size and Segmentation

                                                • Key points
                                                  • Market size
                                                    • Engineering sector overview
                                                      • Industrial fasteners market factors
                                                        • Market overview
                                                          • Figure 6: The UK market for industrial fasteners, 2009-13
                                                        • Market segmentation
                                                          • Figure 7: UK apparent consumption of threaded and non-threaded fasteners, 2009-13
                                                          • Figure 8: UK apparent consumption of threaded and non-threaded fasteners, 2009-13
                                                          • Figure 9: UK market for fasteners, by type, 2009-13
                                                          • Figure 10: UK market for fasteners, by type, 2013
                                                      • Market Trends

                                                        • Key points
                                                          • Market trends
                                                            • Aerospace industry trends
                                                              • Shift towards composite materials in key engineering sectors drives innovation in fasteners market
                                                                • Potential of 3D-printing within fasteners sector
                                                                  • UK housebuilding market trends
                                                                      • Figure 11: Home Ownership in UK, 2008-2012 (000 Dwellings and % Owner-occupied)
                                                                      • Figure 12: Residential Property Transactions in the UK, 2009-13 (000 Dwellings)
                                                                      • Figure 13: House Type in Total New Housing Builds in UK, 2009-2013 (% of Total)
                                                                    • Seasonality of sales
                                                                      • Regional sales
                                                                        • Figure 14: Manufacturing businesses in the UK, by region, 2013
                                                                        • Figure 15: Manufacturing businesses in the UK, by region, 2013
                                                                        • Figure 16: Regional value of total new construction output, 2009-13
                                                                      • Distribution
                                                                      • Supply Sources

                                                                        • Key points
                                                                          • Production
                                                                            • Overview
                                                                              • Figure 17: Production of industrial fasteners in the UK, 2009-13
                                                                            • Segmentation
                                                                              • Figure 18: Production of Industrial Fasteners in the UK, by Type, 2009-13
                                                                            • Imports
                                                                              • Overview
                                                                                • Figure 19: UK imports of threaded and non-threaded fasteners, 2009-13
                                                                              • Segmentation
                                                                                • Figure 20: Imports of Fasteners in the UK, by Type, 2009-13
                                                                                • Figure 21: Imports of Fasteners in the UK, by Type, 2009-13
                                                                              • Exports
                                                                                • Overview
                                                                                  • Figure 22: UK exports of threaded and non-threaded fasteners, 2009-13
                                                                                • Segmentation
                                                                                  • Figure 23: Exports of fasteners in the UK, by type, 2009-13
                                                                              • Industry Structure

                                                                                • Key points
                                                                                  • Industry Development
                                                                                      • Figure 24: Analysis of the changes in the Structure of the UK fasteners and screw machine products manufacturing industry, 2010-13
                                                                                    • Structure by employment
                                                                                      • Figure 25: Analysis of the employment structure of the UK fasteners and screw machine products manufacturing industry, 2012 and 2013
                                                                                    • Structure by turnover
                                                                                      • Figure 26: Analysis of the financial structure of the UK fasteners and screw machine products manufacturing industry, 2012 and 2013
                                                                                  • Company Profiles

                                                                                    • Alcoa Fastening Systems

                                                                                          • Figure 27: Financial Analysis of Alcoa Fastening Systems, 2008-12
                                                                                      • Linread

                                                                                          • Figure 28: Financial Analysis of Linread, 2008-12
                                                                                      • Avdel UK

                                                                                            • Figure 29: Financial Analysis of Avdel UK, 2008-12
                                                                                        • Forward Industrial Products Group

                                                                                            • Figure 30: Financial Analysis of Forward Industrial Products Group UK, 2010-13
                                                                                        • Lonestar Fasteners Europe (formerly PRD Fasteners)

                                                                                            • Figure 31: PRD Fasteners, 2008-12
                                                                                        • SPS Technologies

                                                                                            • Figure 32: Financial Analysis of SPS Technologies, 2009-13
                                                                                        • Trifast

                                                                                              • Figure 33: Financial Analysis of Trifast, 2009-13
                                                                                          • Tucker Fastener

                                                                                              • Figure 34: Financial Analysis of Tucker Fasteners, 2008-13
                                                                                          • Demand Structure

                                                                                            • Key points
                                                                                              • Automotive sector
                                                                                                  • Figure 35: UK car production, 2008-14
                                                                                                  • Figure 36: UK commercial vehicle production, 2008-14
                                                                                                  • Figure 37: UK commercial vehicle production, 2008-14
                                                                                                • Mechanical engineering
                                                                                                  • Figure 38: Analysis of Mechanical Engineering Output, by Type, 2009-13
                                                                                                • Aerospace
                                                                                                    • Figure 39: UK turnover of aerospace equipment, 2009-13
                                                                                                    • Figure 40: UK turnover of aerospace equipment, 2009-13
                                                                                                    • Figure 41: UK turnover of aerospace equipment, by sector, 2009-13
                                                                                                  • £2 billion government investment to support UK aerospace manufacturing
                                                                                                    • Shipbuilding
                                                                                                        • Figure 42: Analysis of the Financial Structure of the Ship Building and Repair Industry, 2011-12
                                                                                                      • Railway engineering
                                                                                                        • Figure 43: Average age of rolling stock, by sector, 2009-13
                                                                                                        • Figure 44: Average Age of Rolling Stock, by Company, 2009-13
                                                                                                        • Figure 45: Number of passenger journeys, by sector, 2009-13
                                                                                                        • Figure 46: Distance covered by freight trains, 2009-13
                                                                                                        • Figure 47: Government railway funding, by type, 2009-13
                                                                                                        • Figure 48: Private investment in railways, by type, 2008-13
                                                                                                      • Building & construction
                                                                                                        • Figure 49: Analysis of construction output in Great Britain, by type, 200913
                                                                                                        • Figure 50: Composition of new construction output in Great Britain, by type, 2013
                                                                                                      • UK housebuilding
                                                                                                        • Mortgages
                                                                                                          • Right to Buy
                                                                                                            • Private rented homes
                                                                                                              • Affordable housing
                                                                                                                • Making better use of existing buildings
                                                                                                                  • Public Housing
                                                                                                                      • Figure 51: Analysis of new public housing construction output in Great Britain, 2009-13 (£ million)
                                                                                                                      • Figure 52: Public Housing starts and completions in England, 2009-2013 (units)
                                                                                                                      • Figure 53: Public Housing Starts and Completions in England, 2009-2013 (% Year-on-Year Change)
                                                                                                                    • Private housing
                                                                                                                      • Figure 54: Analysis of private housing output in Great Britain, 2009-13
                                                                                                                      • Figure 55: Private New Housing Starts and Completions in England, 2009-13 (units)
                                                                                                                      • Figure 56: Private New Housing Starts and Completions in England, 2009-13 (% Change)
                                                                                                                    • Public sector non-residential construction
                                                                                                                      • Health
                                                                                                                        • Education
                                                                                                                            • Figure 57: Contractors appointed to the PSBP batches of schools, March 2014
                                                                                                                          • Other sector
                                                                                                                            • Figure 58: Analysis of public sector non-residential construction output in Great Britain, 2009-13
                                                                                                                            • Figure 59: Analysis of public sector non-residential construction in Great Britain, by type, 2009-13
                                                                                                                          • Private industrial construction
                                                                                                                            • Figure 60: Analysis of private industrial construction output in Great Britain, 2009-13
                                                                                                                            • Figure 61: Analysis of private industrial new construction work in Great Britain, by sector 2009-13
                                                                                                                          • Private commercial construction
                                                                                                                            • Figure 62: Composition of private commercial construction output in Great Britain, by type, 2013
                                                                                                                          • Offices
                                                                                                                            • Shops
                                                                                                                              • Education
                                                                                                                                • Health
                                                                                                                                  • Figure 63: Analysis of private commercial construction output in Great Britain, 2009-13
                                                                                                                                  • Figure 64: Analysis of private commercial construction in Great Britain, by type, 2009-13
                                                                                                                                • Civil engineering
                                                                                                                                  • Figure 65: Civil engineering construction output in Great Britain, 2009-13
                                                                                                                                  • Figure 66: Civil engineering construction output in Great Britain, by sector, 2009-13
                                                                                                                                  • Figure 67: Civil engineering construction output in Great Britain, by sector, 2009-13
                                                                                                                                • DIY
                                                                                                                                    • Figure 68: DIY retail sales in the UK, 2009-2013
                                                                                                                                  • Domestic appliances
                                                                                                                                      • Figure 69: Sales of UK Produced Electrical Domestic Appliances, 2009-13
                                                                                                                                  • Construction Sector Forecast

                                                                                                                                    • Key points
                                                                                                                                      • The market
                                                                                                                                          • Figure 70: Forecast construction output in Great Britain, 2014-18
                                                                                                                                          • Figure 71: Forecast construction output in Great Britain, 2014-18
                                                                                                                                        • Housebuilding Forecast
                                                                                                                                          • Availability of credit
                                                                                                                                            • Future household development
                                                                                                                                              • Figure 72: Household Projections, United Kingdom, 2014-18
                                                                                                                                            • Help To Buy Scheme
                                                                                                                                              • Government planning policy
                                                                                                                                                • Stamp duty reform
                                                                                                                                                  • Private and public housing forecasts
                                                                                                                                                    • Figure 73: Forecast private housing output in Great Britain, 2014-18 (( million at 2013 prices)
                                                                                                                                                    • Figure 74: Forecast public housing output in Great Britain, 2014-18
                                                                                                                                                  • Private commercial construction forecast
                                                                                                                                                      • Figure 75: Forecast private commercial construction output in Great Britain, 2014-18
                                                                                                                                                      • Figure 76: Forecast of private commercial construction in Great Britain, by sector, 2014-18
                                                                                                                                                      • Figure 77: Forecast of private commercial construction in Great Britain, by sector, 2014-18
                                                                                                                                                    • Private industrial construction forecast
                                                                                                                                                      • Figure 78: Forecast private industrial construction output in Great Britain, 2014-18
                                                                                                                                                      • Figure 79: Forecast of private industrial new construction work in Great Britain, by sector 2014-18
                                                                                                                                                    • Public non-residential construction forecast
                                                                                                                                                        • Figure 80: Forecast public non-residential construction output in Great Britain, 2014-18
                                                                                                                                                        • Figure 81: Forecast of public non-residential construction in Great Britain, by type, 2014-18
                                                                                                                                                      • Civil engineering forecast
                                                                                                                                                        • Figure 82: Forecast civil engineering construction output in Great Britain, 2014-18
                                                                                                                                                        • Figure 83: Forecast new civil engineering construction output in Great Britain, 2014-18
                                                                                                                                                      • The National Infrastructure Plan
                                                                                                                                                        • Increased private sector investment in infrastructure
                                                                                                                                                        • Market Forecast

                                                                                                                                                          • Key points
                                                                                                                                                            • Market forecast
                                                                                                                                                              • Figure 84: Forecast UK market for industrial fasteners, 2014-18
                                                                                                                                                            • Segmentation
                                                                                                                                                              • Figure 85: Forecast market for threaded and non-threaded fasteners, 2014-18
                                                                                                                                                              • Figure 86: Forecast market for threaded and non-threaded fasteners, 2014-18
                                                                                                                                                              • Figure 87: Forecast apparent consumption of fasteners, by type, 2014-18
                                                                                                                                                          • Further Sources & Contacts

                                                                                                                                                            • Trade Associations
                                                                                                                                                              • Trade Magazines
                                                                                                                                                                • Trade Exhibitions

                                                                                                                                                                Companies Covered

                                                                                                                                                                To learn more about the companies covered in this report please contact us.

                                                                                                                                                                Industrial Fasteners (Industrial Report) - UK - August 2014

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