News 

According to the latest report released by IBISWorld in April, UK manufacturers target niche high-value segments, but the local industry is small on a global scale, with the global market for fasteners worth over US$50 billion. The major players in this UK-based industry are subsidiaries of foreign-owned global companies.

The Fastener and Screw Machine Product Manufacturing industry is expected to generate revenue of ￡426.9 million in 2012-13, down 0.8% compared with revenue in 2011-12. The domestic market for fastener and screw machine products is estimated to total ￡801.5 million in 2012-13, up 1.0%.

A number of factors indicate the industry has entered the decline phase of its life cycle. Industry value added declined in real terms in the five years through 2012-13, and is forecast to decline in the five years through 2017-18.
Manufacturing capacity is shifting from advanced high-cost countries (like the United Kingdom) to low-cost countries, which will weigh down on advanced countries' demand for industrial fasteners. Import competition is very strong and increasing. Fastener manufacturers in low-cost countries are gaining share of the UK market.