Taiwan fastener industry has been very active in recent years in business transformation to the development of products with higher added value. In terms of screws in particular, though the total export volume was lower than that of China, the percentage of automotive fasteners in the total export is expected to increase by 5%. The current quote for automotive fasteners per kg in Taiwan is USD 3.8, 35% higher than the average price of general parts and 164% higher than the average price of similar articles in China, giving Taiwan an opportunity to be recognized as the “Automotive Fastener Kingdom” in the future.
The total export volume and value of Taiwan’s fasteners last year both reached a new high. The export volume in particular climbed to nearly 1.6 million tons and the export value reached nearly USD 4.3 billion. This year, with the recovery of the global economy, it is expected that the record will be broken again. The percentage of automotive fasteners in Taiwan’s total fastener export is expected to increase from 30% to 35% and the price per kg is expected to reach USD 3.8 (higher than China’s USD 1.7). Taiwan’s CSC plays an important role in supplying wire rods with consistent high quality, while MIRDC is also a key part that has excellent inspection and surface treating capabilities and technology.