Over the past year, trading volume of fastener in Italy showed considerable growth, helping Italy break away from economic crisis having been lasted for a long time. Moreover, for foreign competitors, Italian market still has challenge, because the market prefers products having high price and security rather than products having low price while having low price. Compared with anti-dumping measures, the feature better protects Italian manufacturers from being invaded by foreign competition. An expert says that the foremost market of fastener in Italy is automobile. Indeed, the market is always leading revenue performance of Italian or even the whole European manufacturers.
For this, Chinese manufacturers should improve their own technological level and raise their capacity to more professional field. Market competition-oriented by low price does not be required any more in Italy. More and more fastener manufacturers from the orient share the market directly. The transformation provided larger potential possibility to Italian manufacturer and wholesalers to expand sales to the market which has direct relationship with European production platform.
Continuously supplying a part to Italian or European automobile manufacturers means more fluent orders which have demands for the same part from other countries. Niche on global market is disappearing gradually, providing larger spaces for improvement and modification.
Without doubt, the latest scandal of Volkswagen fails us for the expectation that the fastener market becomes the unique global pilot again. However, the market cannot be dragged greatly, although Chinese economy has lower growth rate than expectation, because of having going through the difficult period for many years, the market is still developing positively at present.
It is known that fastener industry in Italy is developing rapidly. There about 230 fastener manufacturers in Italy, 7,500 employees in total. The total output value is about 2 billion euro and 70% of products are used for export.