As the world's largest steel producer and the world's most populous country, China has the advantages of low cost of raw materials and labor for manufacturing hardware products. The vigorous development of China's industry has created a huge demand for hardware. In addition, with the continuous development of the national economy, automobile industry, engineering machinery, agricultural machinery, environmental protection machinery, machine tools and other hardware, spring and foundation The requirement of parts is higher and higher. The performance, quality, reliability, varieties, specifications and requirements of products are higher and higher. The rapid increase of export volume in the international market has created an unprecedented huge demand for the hardware industry.
According to the Research Report on supply and demand analysis and development prospect of China's hardware accessories industry from 2020 to 2025 by Zhongyan Puhua Research Institute, at present, the hardware industry is running well, the growth momentum of domestic and foreign sales is obvious, the import and export are growing at a high speed, various economic indicators are rapidly improved, and the industry as a whole basically returns to the level before the financial crisis. In recent years, China's export of hardware products has maintained a steady growth trend. China has become a big hardware processing and export country in the world, with broad market and consumption potential. It is estimated that the annual export volume will maintain a growth rate of 10-15% in the future.