8
Global fastener demand
US$66 billion by 2012
According to a report published in September by industrial and technological base of their economies.
the Freedonia Group Inc, global demand for Demand growth for aerospace grade fasteners
industrial fasteners will increase 4.8% annually to exceeded that for standard fasteners between 2002
US$66 billion in 2012. and 2007. Robust activity in the commercial and
Fastener demand will be driven by increases in military aircraft industries during this period
world economic output, fixed investment activity, contributed greatly to this trend. As demand for high
manufacturing production, and aerospace equipment integrity fasteners levels off, standard fasteners will
and motor vehicle output, Freedonia says. However, again emerge as the fastest growing product group in
the use of new materials and production methods line with historical norms. The motor vehicle industry
that reduce the number of fasteners required in motor will remain the largest consuming sector for industrial
vehicles and some aircraft will limit future market fasteners, accounting for about one-third of total
gains. fastener demand through 2012. However, electrical
The report says that market advances in the and electronic equipment will be the fastest growing
world’s emergent economies will considerably market. Demand for fasteners used in industrial
outpace demand gains in the world’s more advanced, machinery and fabricated metal products will also
mature ones. Industrial fastener demand growth in increase at above-average rates.
Asia, the Africa/Mideast region, Eastern Europe and Following the release of the report Freedonia
Latin America will exceed growth in the US, Western financial analyst Dean Peters told FastenerNews.com
Europe and Japan. China will register the largest gains he is sticking to his forecast of 4.8% annual growth
of any national market as the country continues its for the global fastener industry through 2012, despite
development as an economic power and as its the global financial crisis. "I can't deny that the
manufacturing and fixed investment activity continue potential is there, but I don't think it substantively
to climb. In 2008, China will surpass Japan to become changes anything," Peters noted. He pointed to oil
the second largest fastener market in the world, after price fluctuations to demonstrate his point, saying the
the US. price of crude has dropped as the markets
Fastener demand in the US, Western Europe and plummeted, but he said that could quickly rebound if
Japan will still grow considerably. Freedonia bases this the markets stabilise. "The jury is unfortunately out,
on an assessment that sales growth will be spurred and it's going to be a few months before we see if
by generally favorable economic conditions, continued (the market has) reached the bottom."
fixed investment growth and higher income levels. The 372-page report, ‘World Industrial Fasteners’,
These areas will remain the most intensive users of published in September 2008 costs US$5,700 from
industrial fastening products, reflecting the advanced the Freedonia Group, Inc - www.freedoniagroup.com
RAIB issues final
Grayrigg report
On 23 October the UK’s Rail Accident Investigation Board released its final report on the derailment
of a class 390 Virgin Pendolino train at Grayrigg, Cumbria.
The accident resulted in the death of one passenger, and serious injury to 28 others. The full text of the
255-page report may be downloaded from www.raib.gov.uk. In responding to the publication of the report
Iain Coucher, chief executive of Network Rail, said: "The tragedy at Grayrigg was caused by the failure of
our infrastructure, something we were devastated to discover. We immediately accepted responsibility for
the accident and once again apologise today to Mrs Masson's family and all those affected.”
In its progress report, issued September 2007, the RAIB indicated ‘fastener failure’ as a contributing
factor to the derailment. At the time fastener suppliers to the UK rail industry were deeply concerned about
the use of this expression, although the progress report did specify that the condition of nuts and bolts
found in the ballast near the point of derailment indicated, “they had wound undone, and had neither
broken nor had the nuts been pulled off the threads.” 1,437 similar points sets were inspected following
the accident, and the progress report noted that 36% had one or more loose fasteners.
In its statement following the final report Network Rail says that a new special self-locking nut has been
introduced into points assemblies across the country. Additionally, specialist 'points squads' have been
created in the maintenance function and inspection, audit and assurance improvements have been made.
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