WCA January 2020

Industry news

Joint venture company for cold heading and forging in USA

Nippon Steel & Sumitomo Metal Corporation (NSSMC) established Nippon Steel & Sumikin Cold Heading Wire Indiana Inc (NSCI), a US company manufacturing and selling steel wires for cold heading and forging, in February 2016. NSCI started its commercial production and held an opening ceremony, inviting the governor of Indiana and other related Indiana and Shelbyville officials, the Consulate-General of Japan in Chicago, customers, shareholders, and employees’ families. The steel wire manufacturing plant is NSSMC’s third overseas plant, in addition to those established in Thailand and China. The new plant at NSCI has an annual production capacity of 36,000 tons and is capable of manufacturing steel wires with a maximum diameter of 40mm. By making use of the plant’s proximity to customers, NSSMC will meet demand from the major production plants of Japanese automobile and parts manufacturers and display strong delivery capability. Steel wires for cold heading and forging, which are produced by adding secondary processes (such as pickling, coating, wire drawing and heat treatment) to hot rolled wire rods, are mainly used for important safety-related parts such as automobile bolts. These steel wires require a very high standard in terms of internal quality and surface defects. In order to satisfy these requirements, NSSMC and NSCI are cooperating in performing strict and unified quality management for wire rods and steel wires.

❍ The team celebrates the first shipment

Under the banner of SteeLinc, the brand name of NSSMC’s bar and wire rod unit, NSCI will contribute to enhance the value of customers’ products through proposals that optimise the combination of steel materials and secondary processes (steel materials x processing methods). The steel product portfolio includes steel for high-strength bolts (MB series and ADS series) and steel that omits processes, such as new soft wire rods and untempered

steel for cold forging (NHF ® and SUC80D). Nippon Steel & Sumikin Cold Heading Wire Indiana Inc www.nsciinc.com

Industrial Fasteners market forecast

This has resulted in price wars among manufacturers, leading to profit crunching. A focus on product enhancement is the key strategy for manufacturers. The report includes six parts, dealing with: 1) Basic information 2) Asian industrial fasteners market 3) North American industrial fasteners market 4) European industrial fasteners market 5) Market entry and investment feasibility 6) Report conclusion A report sample is available at: https://www.credenceresearch.com/ sample-request/58059 Credence Research www.credenceresearch.com

structures etc. It then analyses the world’s main region market conditions, including the product price, profit, capacity, production, supply, demand, and market growth rate and forecast etc. Finally, the report introduces new project SWOT analysis, investment feasibility analysis and investment return analysis. The global industrial fasteners market is fragmented by stiff competition, with several small and large players competing to maintain their market share. In developed economies, market consolidation is a major trend as small companies are merging operations with established players to leverage their resources. Furthermore, the global market for industrial fasteners is highly matured and has been marred by a lack of product differentiation.

The global industrial fasteners market is expected to expand at a compound annual growth rate of 5.3 per cent during the forecast period 2016 to 2023. A new report from Credence Research expects the market to be worth $107 billion by 2023. “Industrial Fasteners – global market size, analysis, share, trends, growth and forecast to 2026” is an in-depth research report on the world’s major regional market conditions, focusing on the main regions (North America, Europe and Asia-Pacific) and the main countries (United States, Germany, United Kingdom, Japan, South Korea and China). The report firstly introduces indus- trial fasteners: definitions, classifi- cations, applications and market overview; product specifications; manufacturing processes; and cost

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www.read-fastenersasia.com

Fasteners ASIA – January/February 2020