Production volume in 2014 exceeds new high of 1.812 million tonnes for second straight year
Feb 25, 2015 | By Steve Chuang
Compiled by STEVE CHUANG
With TV news reports that certain parts of the USA have seen home prices rise sizably since last year, in particular those in San Francisco, and the Greek debt deal tentatively extended, and car sales stateside increase due to falling gas prices, some say the global economic climate looks promising and should drive manufacturing and construction industries worldwide, which in turn should fuel production in the fastener sector after a serious drop in the aftermath of the global financial crisis in 2009.
Production
According to the latest statistics compiled by Taiwan Industrial Fastener Institute (TIFI), the island's trade group composed mainly of fastener manufacturers, the sector's production volume again exceeded a new high of 1.812 million tonnes in 2014 for the second straight year, up 9.31 percent compared to 1.658 million tonnes in 2013.
The sector turned out US$4.831 billion of fasteners last year, growing 10.21 percent year-on-year (YoY) over US$4.388 billion in 2013 and beating the record high of US$4.515 billion achieved in 2011, with average per-kilogram price of US$2.66, inching up 0.74 percent from US$2.64 a year ago.
Viewing long-term, Taiwanese fastener makers have generally seen encouraging growth in the decade. TIFI's statistics show the industry's production volume and value significantly surge from 1.438 million tonnes and US$2.839 billion, respectively, in 2005, to 1.567 million tonnes and US$4.315 billion in 2012, and 1.812 million tonnes and US$4.831 billion in 2014.
Based on TIFI data (see table below), the industry's production volume during 2005-2014 showed compound annual growth rate (CAGR) of 2.60 percent, compared to a stronger CAGR of 6.07 percent in production value, to which a couple factors are attributable, particularly operators' dedication to continuously upgrading products and production techniques, enhancing presence in global supply chain for higher-end applications, like aircraft and automotive fasteners.
Taiwan's fastener production volume during 2005-2014| Production of Taiwan Fastener Industry (2005-2014) | ||||||
| Year
| Production Volume
| Production Value
| Average Price
(per kilogram) | |||
| Weight
(1 million tonne) | YoY Growth Rate
| Value
| YoY Growth Rate
| Value
| YoY Growth Rate
| |
| 2005
| 1.438
| -10.33%
| US$2.839 Bn.
| 4.78%
| US$1.975
| 16.85%
|
| 2006
| 1.442
| 0.32%
| US$2.921 Bn.
| 2.88%
| US$2.025
| 2.55%
|
| 2007
| 1.398
| -3.04%
| US$3.295 Bn.
| 12.81%
| US$2.356
| 16.34%
|
| 2008
| 1.380
| -1.30%
| US$3.595 Bn.
| 9.08%
| US$2.604
| 10.52%
|
| 2009
| 1.017
| -26.33%
| US$2.352 Bn.
| -34.57%
| US$2.313
| -11.19%
|
| 2010
| 1.453
| 42.93%
| US$3.652 Bn.
| 55.29%
| US$2.512
| 8.65%
|
| 2011
| 1.615
| 11.14%
| US$4.515 Bn.
| 23.61%
| US$2.794
| 11.22%
|
| 2012
| 1.567
| -2.99%
| US$4.315 Bn.
| -4.42%
| US$2.753
| -1.47%
|
| 2013
| 1.658
| 5.79%
| US$4.388 Bn.
| 1.68%
| US$2.646
| -3.89%
|
| 2014
| 1.812
| 9.31%
| US$4.831 Bn.
| 10.21%
| US$2.666
| 0.74%
|
Taiwan's fastener export volume during 2005-2014| Exports by Taiwan Fastener Industry (2005-2014) | ||||||
| Year
| Export Volume
| Export Value
| Average Price (per kilogram) | |||
| Weight
(1 million tonne) | YoY Growth Rate
| Value
| YoY Growth Rate
| Value
| YoY Growth Rate
| |
| 2005
| 1.265
| -10.33%
| US$2.499 Bn.
| 4.78%
| US$1.975
| 16.85%
|
| 2006
| 1.269
| 0.32%
| US$2.571 Bn.
| 2.88%
| US$2.025
| 2.55%
|
| 2007
| 1.231
| -3.04%
| US$2.900 Bn.
| 12.81%
| US$2.356
| 16.34%
|
| 2008
| 1.215
| -1.30%
| US$3.163 Bn.
| 9.08%
| US$2.604
| 10.52%
|
| 2009
| 0.895
| -26.33%
| US$2.070 Bn.
| -34.57%
| US$2.313
| -11.19%
|
| 2010
| 1.279
| 42.93%
| US$3.214 Bn.
| 55.29%
| US$2.512
| 8.65%
|
| 2011
| 1.422
| 11.14%
| US$3.973 Bn.
| 23.61%
| US$2.794
| 11.22%
|
| 2012
| 1.379
| -2.90%
| US$3.798 Bn.
| -4.42%
| US$2.753
| -1.47%
|
| 2013
| 1.459
| 5.79%
| US$3.861 Bn.
| 1.67%
| US$2.646
| -3.89%
|
| 2014
| 1.595
| 9.31%
| US$4.252 Bn.
| 10.21%
| US$2.666
| 0.74%
|
| Imported Fasteners in Taiwan (2005-2014) | ||||||
| Year
| Import Volume
| Import Value
| Average Price (per kilogram) | |||
| Weight
(1 tonne) | YoY Growth Rate
| Value
| YoY Growth Rate
| Value
| YoY Growth Rate
| |
| 2005
| 27,290
| -18.65%
| US$109.174 M.
| -27.72%
| US$4.001
| -11.15%
|
| 2006
| 23,695
| -13.17%
| US$102.422 M.
| -6.18%
| US$4.322
| 8.05%
|
| 2007
| 35,808
| 51.12%
| US$108.037 M.
| 5.48%
| US$3.017
| -30.20%
|
| 2008
| 61,479
| 71.69%
| US$149.710 M.
| 38.51%
| US$2.435
| -19.29%
|
| 2009
| 26,479
| -57.32%
| US$101.899 M.
| -31.94%
| US$3.883
| 59.46%
|
| 2010
| 24,768
| -5.61%
| US$131.403 M.
| 28.95%
| US$5.305
| 36.63%
|
| 2011
| 24,018
| -3.03%
| US$151.153 M.
| 15.03%
| US$6.293
| 18.62%
|
| 2012
| 28,988
| 20.69%
| US$153.742 M.
| 1.71%
| US$5.304
| -15.72%
|
| 2013
| 22,759
| -21.49%
| US$143.537 M.
| -6.64%
| US$6.307
| 18.91%
|
| 2014
| 23,160
| 1.76%
| US$147.582 M.
| 2.82%
| US$3.372
| 1.04%
|
| Top-20 Importer Countries of Taiwan's Fasteners by Export Volume in 2014 | |||||||
| Rank
| Country
| Volume
| Value
| ||||
| Weight
(kilogram) | Share
| YoY Growth Rate
| Value
| Share
| YoY Growth Rate
| ||
| 1
| The U.S.
| 631,018
| 39.56%
| 9.31%
| US$1.574 Bn.
| 37.04%
| 10.11%
|
| 2
| Germany
| 143,575
| 9.00%
| 11.29%
| US$380.258 M.
| 8.94%
| 11.98%
|
| 3
| The Netherlands
| 82,315
| 5.16%
| 7.01%
| US$225.477 M.
| 5.30%
| 11.19%
|
| 4
| Japan
| 71,389
| 4.48%
| -7.48%
| US$223.907 M.
| 5.27%
| -6.34%
|
| 5
| The U.K.
| 68,288
| 4.28%
| 23.98%
| US$184.908 M.
| 4.35%
| 24.57%
|
| 6
| Canada
| 46,110
| 2.89%
| -7.09%
| US$121.395 M.
| 2.85%
| -0.28%
|
| 7
| Poland
| 39,685
| 2.49%
| 24.17%
| US$73.790 M.
| 1.74%
| 20.93%
|
| 8
| Italy
| 38,551
| 2.42%
| 15.22%
| US$92.983 M.
| 2.19%
| 19.94%
|
| 9
| Sweden
| 33,831
| 2.12%
| 27.72%
| US$100.430 M.
| 2.36%
| 26.04%
|
| 10
| France
| 29,639
| 1.86%
| 27.48%
| US$82.992 M.
| 1.95%
| 29.90%
|
| 11
| Belgium
| 25,885
| 1.62%
| 40.81%
| US$69.855 M.
| 1.64%
| 40.18%
|
| 12
| Russia
| 25,772
| 1.62%
| -29.92%
| US$54.214 M.
| 1.27%
| -24.74%
|
| 13
| Mexico
| 25,040
| 1.57%
| 18.59%
| US$67.478 M.
| 1.59%
| 18.58%
|
| 14
| Spain
| 24,760
| 1.55%
| 25.83%
| US$58.926 M.
| 1.39%
| 21.47%
|
| 15
| China
| 22,845
| 1.43%
| 1.70%
| US$134.055 M.
| 3.15%
| 6.93%
|
| 16
| Australia
| 20,904
| 1.31%
| 3.96%
| US$69.889 M.
| 1.64%
| 4.57%
|
| 17
| Thailand
| 19,865
| 1.25%
| -9.23%
| US$58.567 M.
| 1.38%
| -6.81%
|
| 18
| Vietnam
| 17,353
| 1.09%
| 20.20%
| US$46.078 M.
| 1.08%
| 12.88%
|
| 19
| Brazil
| 14,080
| 0.88%
| -5.42%
| US$39.067 M.
| 0.92%
| -3.27%
|
| 20
| Saudi Arabia
| 10,880
| 0.68%
| 0.99%
| US$23.086 M.
| 0.54%
| 1.86%
|
| Others
| 203,408
| 13.90%
| 13.90%
| US$569.796 M.
| 13.40%
| 11.48%
| |
| Total
| 1,595,201
| 100.00%
| 9.31%
| US$4.252 Bn.
| 100.00%
| 10.12%
| |
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