EuroFasteners July 2021

Corporate News

Growing demand for threaded industrial fasteners

A study by Fact.MR on the global industrial fasteners market projects an expansion of around 4 per cent CAGR through to 2031. Speedy recovery and rising demand from various end-use industries, such as building, construction and automotive, will boost sales. According to the study, the growing focus on R&D activities and high-performance quality material is driving the manufacturers’ demand. Significant application in industrial and residential projects in the construction industry, backed by high usage of industrial fasteners such as cable ties, rivets and screws, will bolster the demand for industrial fasteners. automotive, construction industry and industrial manufacturers investing heavily to incorporate advanced technology as a requirement for threaded, non-threaded and aerospace grade is accelerating, is boosting the demand through 2031,” said a Fact.MR analyst. By material, plastic is expected to acquire maximum share, attributed to its popular projects from Springs from Lesjöfors have played a critical role in a progressive student project. A group of technical students in Sweden is competing in global events to develop Hyperloop technology. The Hyperloop concept is being designed to bring super-fast, fossil- free transportation of both people and goods. Scientists, students, designers, programmers, venture capitalists and other businesses are working on cross- border development projects to create the system. It is proposed that the vessels will have top speeds of up to 1,200km/h.

advantages such as being lightweight, flexible and cost-effective. China is expected to be a hotspot for potential industrial fastener manu- facturers in the upcoming years, while India will emerge as a lucrative market for industrial fasteners. In Italy and France, markets will be fuelled by fast recovery of the automotive industry and increasing application of industrial fasteners. According to the study, with the market being highly competitive, key manufacturers are developing and intro- ducing innovative products to expand their geographical reach to cater to the demand. For example, in January 2021, Penn Engineering and Manufacturing Corporation announced the launch of its new website, Profil, for mechanically attached fastener manufacturers. Also in 2021, LISI Aerospace and the University of Sheffield Advanced Manufacturing Research Centre collabo- rated to acquire $1.34mn in funding from the Aerospace Technology Institute, to unlock productivity gains and new The concept is based on a pod, placed in a tunnel or tube, that moves with levitation driven by magnetism. The levitation eliminates friction from the surface and, since the tube is a closed environment, there is no impact from the outside. The air pressure inside the tube is reduced almost to a vacuum, and the reduced air resistance means that the speed can be significantly increased with reduced energy consumption. Springs, with which Lesjöfors sponsored the team, will be used for the lateral control of the pod. Since a Hyperloop pod travels mainly without friction, it is important that the pod does not come into excessive contact with the monorail (I-beam). The springs ensure that the pod always keeps the right course and does not rub against the rails. In addition to the fact that well-defined springs ensure that the pod maintains its speed, they are also important for safety reasons: should the pod crash into the monorail at high speed, there is a risk for serious damage.

markets in the fastener industry through advanced technologies. Key questions covered in the report include: how will demand for industrial fasteners evolve in the future?; which type of industrial fastener accounts for the highest demand?; which is the most lucrative market for industrial fasteners?; what are the factors that will drive the demand for industrial fastener sales?; and what are the winning strategies key players will adopt to generate future prospects?

“Rising Fact.MR’s report presents a detailed seg- mentation of the global industrial fasten- ers market. The study gives insights on the industrial fasteners market on the basis of material (plastic and metal), product (threaded, non-threaded and aerospace grade), end-user (automotive, build- ing and construction, home appliances, aerospace and others), and region (North America, Latin America, Europe, East Asia, South East Asia and Oceania, and MEA). Fact.MR www.factmr.com Swedish springs in promisingHyperloop project

“We are happy tobe part of such an exciting and important futuristic project,” said Mattias Hartvigsson, product specialist at Lesjöfors. “Sponsoring students for us is both about making important contacts for the future and spreading knowledge about our unique spring expertise.” There is still a long way to go before the Hyperloop vision canbe realised. However, development is progressing quickly and experts believe that the technology can begin to roll out around 2030. Some countries have even higher ambitions and, among others, Saudi Arabia and the United Arab Emirates are aiming to have a Hyperloop operating by 2024. The Lesjöfors group provides a wide range of springs and pressings to customers in industries around the world, with expertise in high-technology, custom-made solutions and a flexible manufacturing capacity. Lesjöfors AB www.lesjoforsab.com

▲ The Hyperloop concept is based on a pod driven by magnetism

EF 3 / 54

www.read-eurofasteners.com

July 2021