Fasteners are inconspicuous but indispensable and are found in almost everything, including medical devices and aerospace equipment. It can be said that Taiwan's fasteners are building the world. According to the data released by the Ministry of Economic Affairs, Taiwan's fastener exports netted approximately 39.7 billion U.S. dollars in 2020 and is the third largest fastener exporting country in the world after China and Germany.
Gangshan and Lujhu are where the Kaohsiung's fasteners companies are located and where 70% of Taiwan's fasteners are manufactured. Kaohsiung's fastener companies also maintain the most advanced and integrated supply chains, which include professional freight forwarding and export services. Kaohsiung has also formed a fastener industry cluster that can increase product quality and expedite manufacturing and delivery. The supply chain includes professional services such as industrial design, manufacturing, processing, and exporting logistics. Another one of its greatest strengths and attributes includes its close proximity to China Steel Corporation where factories are able to quickly access raw materials.
Over the last decade, Taiwan's fastener manufactures have faced increased competition from Southeast Asia and China, who offer their products for much lower prices. However, Taiwan's highly advanced technologies have been able to provide local manufactures with innovative artificial intelligence and automated solutions, which can produce fasteners quicker and provide customers with better product design and quality. They have also expanded their manufacturing to include niche markets such as in the aerospace, automobile, medical, and electronics industries. Each of these industries come with their own particular manufacturing needs. The automobile industry for example demands large quantities of fasteners that guarantee stability, dependability, and fast turnaround times. Taiwanese manufacturers have been able to sustain their market share by offering great value for money and great quality products. Therefore, some of the most prestigious automobile manufacturers have come to rely on Taiwan's fasteners.
Cai Tu-jin is the President of Taiwan's Screw Trade Association. Recently, he has witnessed many competitors in China, Vietnam, Indonesia, and Turkey etc. deal with fastener factory closures and delays due to the Covid-19 outbreak. However, Taiwan's fastener factories have been able to maintain operations throughout the global pandemic. According to the Ministry of Economic Affairs' report released in August, fastener exports from January to July netted approximately 29.3 billion U.S. dollars. Cai Tu-jin believes fastener exports could even reach record highs if the trend continues.
Taiwan's biennale International Fastener Exhibition will be held from April 19 to 21, 2022. Taiwan's International Fastener Exhibition is the only B2B (business to business) platform of its kind in Taiwan and features a comprehensive fastener supply chain, quality products, and production equipment. It will also adopt both online and offline (O2O) platforms, which will partner-up businesses and provide online attendees the feeling of authenticity, access, and interaction that can only be paralleled with attendees that visit the exhibition in person.
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