How is the US market for high-quality stainless-steel fasteners?
The US market offers huge potential but end-users are still predominantly using coated carbon or alloy steel. The use of stainless steel fasteners is still relatively low compared with Europe and very much unknown territory for a lot of OEMs. This is a key part of our work within the US – to educate the market about the advantages and possibilities with stainless steel and BUMAX products in particular. We ultimately see the potential to fundamentally change the US market by ensuring that a wide range of customers and applications benefit from the latest high-quality stainless steel fasteners.
How is it going for BUMAX in the US?
BUMAX penetration of the US market continues to develop consistently year on year. We receive a significant number of enquiries from across the US and also other countries in the Americas. Bufab Group, which owns BUMAX, is still our largest distributor here in the US. However, given the sheer size and scale of the US in terms of land mass and market, we have been taking active steps to develop a distribution network to support our future accelerated growth.
What sectors are BUMAX targeting?
Currently our biggest customers are in the Automation, Industrial Robots, Electronics Manufacturing, Defense and Space sectors. However, we believe that we are barely scratching the surface and the potential opportunities within North America are considerable.
Which sectors have good potential with in the US for BUMAX?
BUMAX offers excellent corrosion resistance, combined with very high strength and mechanical performance. Our high-quality stainless-steel fasteners deliver technical and commercial advantages in many sectors including construction, industrial equipment, offshore and marine all around the world. The construction industry is possibly one of the more interesting markets in the US, given the growing focus on sustainable design and the ability of BUMAX fasteners to exceed mechanical properties of equivalent high tensile carbon steel bolts.
How is the BUMAX network of distribution and technical partners developing in the US?
Besides Bufab, BUMAX works with distributors such as McMaster-Carr (www.mcmaster.com) and Tanner Bolt & Nut (www.tannerbolt.com) based in New York, which supplied BUMAX® 88 products to the One World Trade Center project that was completed in 2014.
I am excited about Bufab Group’s recent acquisition of Component Solution Group. componentsolutionsgroup.com/. BUMAX will be working closely with CSG to further develop market opportunities among key customers and primary market sectors.
What are your future plans to further develop your US network?
We are looking to gradually building up our regional network. This will enable us to shorten lead times and better service our customer base. We will also further develop our offering in the UNC/Imperial range of sizes, for which the US market will be a big driver.
BUMAX will be exhibiting at the International Fasteners Expo (IFE) in Las Vegas on October 18-19. One of our primary aims will be to identify and meet with potential distributors that would be a good match to market and sell the BUMAX product range. BUMAX offers a premium product range, with unique capabilities and technical expertise/support. We believe that our range will appeal to distributors that provide technical support to their customers to develop solutions.
Anything else you think we should highlight?
As the world’s leading industries look for alternative solutions to address the climate change, BUMAX are the “Solutionists” and we are at the forefront of innovation. BUMAX products also offer sustainability benefits given that 95% of stainless-steel is recyclable and benefits from a considerably longer service life. Companies in the industries mentioned are aware of the rising cost of maintenance and are looking for components that last longer, deliver improved reliability and reduce financial uncertainty.