Most trade shows were postponed or canceled during the pandemic beginning in 2020, some returned in 2021 and most are scheduled for 2022.
“I am deeply concerned and troubled by the situation in Ukraine,” stated Reinhold Würth, chairman of the supervisory board of the Würth Group’s Family Trusts. “Our thoughts are with our employees and their families, as well as with all people that are currently seeking refuge from the war.”
Rising demand for commercial aircrafts has led to an increase in the production of aerospace fasteners, which is expected to drive market revenue growth.
Reclaiming a suggestion of its original identity, Fastenal Co. sold $2 billion in fasteners during 2021, adjusting to a U.S. economy that pivoted from personal protective equipment to longer term projects involving bolts and nuts.
During a tumultuous year that saw international shipping rates skyrocket, Nucor capitalized on its position as a domestic steel manufacturer, boosted by U.S. tariffs on steel imports.
While many might want to forget the past year, 2021 held opportunities for fastener companies willing to adapt to supply chain disruptions and inflationary pressures.
“From exposed X-bracing right down to every single nut and bolt, Fastenal products can be seen incorporated into the building,” according to Industrial Distribution.
Trade shows around the world, association conferences, educational programs, technical meetings and golf tournaments are among the 63 fastener events listed in the 2022 FIN calendar.
Sherex points out that “it’s not just the way the vehicle runs that’s the difference” and “Sherex understands the differences and nuances between EVs and combustion engine vehicles.”
In 1921, Edward W. Daniel opened a manufacturing and distribution center in Cleveland to serve the Great Lakes marine Industry.
“2022 is going to mirror 2021 from a supply point of view,” Michael Selman, sales rep for Beta Steel, Beneke Wire and Monarch Metals, told the National Fastener Distributors Association.
The pandemic “exposed us to a lot of new product categories and items to sell, giving our members new ways to sustain their business through these troubled times,” stated Specialty Tools & Fasteners Distributors Association president Brian Gersten.
“Zoom, teams, FaceTime and videos all became new must-haves for communication and “became the preferred methods to communicate,” Aerosmith Fastenings Systems president Dan Kudlak declared to the Specialty Tools & Fasteners Distributors Association.
Expect 6% growth in the final quarter of 2021, with unemployment below 5%, Dr. Christopher Thornberg of Beacon Economics LLC predicted. And the economy will be hot for the next few years.
Items phased out the industrial hardware supply chain included seven federal supply classes under Federal Stock Group 53: Hardware and Abrasives. This category contains screws, bolts, studs, nuts, washers, nails, machine keys, pins, rivets and fastening devices.
Vertex has a deep legacy in the fastener industry, with the company tracing its roots back to the 1880s.
While lead times rose in 2020 before the Covid-19 pandemic, Hydrian Inventory Optimization CEO Josh Bartel termed today’s high demand and longer lead times as a “Covid double whammy.”
Nucor Fastener acquired “an existing state-of-the-art coil processing facility” in Indiana that includes an automated clean and coat line, two STC furnaces and wire drawing capabilities, as well as bolt making equipment.
Founded in 1968, the NFDA “wanted a more modern look and feel to our logo, as our mission has evolved over time… Our rebrand keeps the historical roots of NFDA and offers connections with the next generation.”
The September 21-23 International Fastener Expo will have about one-third of the total booths compared with the last pre-pandemic trade show in 2019.