IFE 2022- the Shortcut to Developing U.S. Market
The 2023 Edition Now Open for Registration
U.S. Fastener Demand Momentum Continues
Straits Research's latest market research reveals that despite the pressure of inflation, the Russia-Ukraine war and the U.S.-China economic standoff, the U.S. industrial fastener market demand is still expected to reach a compound annual growth rate of 4% by 2030. Due to the gradual recovery of semiconductor supply, GM's sales volume has increased by 16% in the third quarter this year. On the other hand, although CBRE Group predicts that U.S. construction costs will rise 14% by the end of this year, the peak is now over and costs are expected to come down significantly next year. With many current economic indicators showing the U.S. fastener consumption market still has the demand momentum, International Fastener Expo (IFE) as the top fastener show in the United States opened its gates at Mandalay Bay Convention Center from October 17 to 19.
Explosive Business Opportunities
Exhibitors and Visitors Swarm into the Venue
Fastener World as the organizer's exclusive booth sales agent in Taiwan also sent our staff to the 2022 show who has more than 10 years of experience in the U.S. fastener market to provide you with a direct view of the scene! The show gathered 450 manufacturers, master distributors, precision formed parts and tooling manufacturers from the fastener and related machine industries from 17 countries, and attracted 3,500 visitors from 33 countries. 430 booths were used and the exhibiting space totaled 65,000 sq. ft. Our exhibiting rep seized the opportunity to bring business opportunities to Taiwanese and overseas suppliers on Fastener World’s Global Fastener Sourcing Platform. In addition, visitors from the automotive, construction, machinery & equipment, and aerospace, many other industries also visited the event, and our staff showed them the latest publications and introduced the latest suppliers on our publications.
Taiwan Pavilion Crowded with U.S. Buyers
This year the organizer arranged for the Taiwan Pavilion, India Pavilion, Turkey Pavilion, South Korea Pavilion and Global Zone for international exhibitors (including exhibitors from Japan). Thanks to the location close to the main passage of the show, Taiwan Pavilion showing a vibrant atmosphere also became a crowded hot zone packed with visiting buyer eager to make inquiries and ask for quotations.
Many Taiwanese exhibitors also noted onsite, “What a successful result of the show this year!”, “Registering for exhibiting before the last minute was really a right decision!”, “I already met a lot of new potential customers I’d never met before!” “I’ll definitely exhibit again next year”, “I’ll grasp such a good opportunity to win over more orders from U.S. market.”
For developing the post-pandemic U.S. market, the show organizer’s exclusive sales agent in Taiwan, Fastener World, brought nearly 30 Taiwanese companies to exhibit this year, including Chi Ning, Chirek, Evereon, Fong Yien, Fontec, Fratom, J.C. Grand, K.O.T. Uniontek, King Point, Kingwin, Leaderwing, Mac Precision, Mao Chuan, Master United, Mols, Pingood, Shin Guang Yin, Soon Port, Special Rivets, Taiwan Precision, Wingtone, Yiciscrew, TFTA, and TIFI. Trying to be the first before other companies unable to be present this year for some reasons, these Taiwanese exhibitors made the most of the 2-day event to introduce face-to-face their latest products and services to existing and new local U.S. customers and have business talks with potential buyers for future order placements or collaboration.
After the show, Fastener World sent our post-show survey to Taiwanese exhibitors and received several positive feedback. In addition to some respondents saying that the show did bring concrete results and that Taiwan Pavilion arranged by Fastener World did help attract more buyers, all respondents said that they will definitely exhibit again.
U.S. Buyers Show High Interest in Collaboration with Taiwanese Suppliers
IFE 2022 fully demonstrated the epitome of U.S. fastener supply chain with enthusiastic participation of many large/medium/small local businesses and well-known non-U.S. businesses interested in developing U.S. market. This year Fastener World also visited many leading companies onsite, such as Brighton-Best International, Alloy & Stainless Fastener, Growermetal, Güde, Greenslade & Company, Socket Source, Sacma, Nissei, Bumax, Dörken, Elesa, Kohlhage, Ningbo Echo Fastener, Optimas, Stelfast, SWD Inc., Würth Industry of North America, and so on. Many of these exhibitors noted that the quality, service, and prices of Taiwanese companies make them impressed and some of them have even maintained continuous collaboration with Taiwanese suppliers. They noted that after nearly 3 years of travel restrictions due to the pandemic they felt thrilled to meet so many Taiwanese exhibitors onsite and said that compared to phone calls and emails, the face-to-face “warm” meeting at the show did help them learn more about features and advantages of Taiwanese suppliers’ products and services. They also showed high expectation to establish collaboration with Taiwanese exhibitors within the next couple of years. Some even asked in advance if they could expect to see the participation of more Taiwanese exhibitors in the next show in 2023?
Exclusive Sales Agent in Taiwan
IFE 2023 is Open for Registration
IFE is a professional tradeshow dedicated to fasteners, which has been held for years. Besides the exhibition, the show organizer also invited lots of industrial professionals and experts to give thematic speeches on popular issues and trends such as "Introduction to the Aerospace Fastener Industry", "E-Commerce Experience", "The Impact of 3D Printing on the Fastener Industry", "How Distributors Can Fight Inflation." Concurrently held with the show, the Young Fastener Professional of the Year award was given as well. IFE is recognized as one of the most professional and must-attend fastener events in the U.S. and is also the quickest portal for local and foreign exhibitors to get a clear picture of U.S. fastener demand, look for orders and business opportunities, and develop the local U.S. market.
With the great success of the show this year, the show organizer has also announced that the next edition of IFE will be given at Mandalay Bay Convention Center (Halls E&F) in Las Vegas, USA on October 9-11, 2023, which is expected to see explosive exhibitors and visitors traffic from the U.S. and abroad again.