Cutting Blade Market

The global market for knives and cutting blades is driven by increasing demand worldwide, with a forecasted CAGR of +1.5% for the period from 2022 to 2030. Market volume is expected to reach 594K tons by 2030, with a market value of $169.2B. The highest volumes of consumption in 2022 were in China, the United States, and India. Production trends showed moderate growth, with China leading in volume. Imports and exports also saw growth, with significant fluctuations in prices and trends. Overall, the market is expected to continue its growth trajectory in the coming years.

Market Forecast

Driven by increasing demand for knives and cutting blades (for machines or for mechanical appliances) worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +1.5% for the period from 2022 to 2030, which is projected to bring the market volume to 594K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.1% for the period from 2022 to 2030, which is projected to bring the market value to $169.2B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Knives And Cutting Blades (For Machines Or For Mechanical Appliances)

In 2022, approx. 527K tons of knives and cutting blades (for machines or for mechanical appliances) were consumed worldwide; with an increase of 3.9% compared with the previous year. The total consumption volume increased at an average annual rate of +1.5% from 2012 to 2022; the trend pattern remained relatively stable, with only minor fluctuations in certain years. Global consumption peaked in 2022 and is likely to see steady growth in the near future.

The global cutting blade market revenue expanded remarkably to $122.9B in 2022, surging by 5.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated a noticeable increase from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +61.8% against 2016 indices. Global consumption peaked in 2022 and is expected to retain growth in years to come.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (122K tons), the United States (74K tons) and India (52K tons), together comprising 47% of global consumption. Brazil, Mexico, Italy, Germany, Canada, Thailand, Spain, France and South Korea lagged somewhat behind, together accounting for a further 24%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +14.9%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($105.3B) led the market, alone. The second position in the ranking was held by Canada ($8.9B). It was followed by China.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +4.3%. The remaining consuming countries recorded the following average annual rates of market growth: Canada (+1.9% per year) and China (+2.5% per year).

The countries with the highest levels of cutting blade per capita consumption in 2022 were Italy (300 kg per 1000 persons), Canada (237 kg per 1000 persons) and the United States (220 kg per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Spain (with a CAGR of +14.7%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Knives And Cutting Blades (For Machines Or For Mechanical Appliances)

In 2022, approx. 497K tons of knives and cutting blades (for machines or for mechanical appliances) were produced worldwide; increasing by 2.8% compared with the previous year's figure. The total output volume increased at an average annual rate of +1.3% over the period from 2012 to 2022; the trend pattern remained consistent, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 with an increase of 17%. Global production peaked at 499K tons in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

In value terms, cutting blade production stood at $106.6B in 2022 estimated in export price. In general, the total production indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production decreased by -1.7% against 2020 indices. The growth pace was the most rapid in 2018 with an increase of 21%. Over the period under review, global production reached the peak level at $108.4B in 2020; however, from 2021 to 2022, production remained at a lower figure.

Production By Country

The country with the largest volume of cutting blade production was China (159K tons), accounting for 32% of total volume. Moreover, cutting blade production in China exceeded the figures recorded by the second-largest producer, the United States (61K tons), threefold. The third position in this ranking was held by India (51K tons), with a 10% share.

In China, cutting blade production expanded at an average annual rate of +3.7% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: the United States (+2.7% per year) and India (+4.6% per year).

Imports

World Imports of Knives And Cutting Blades (For Machines Or For Mechanical Appliances)

In 2022, the amount of knives and cutting blades (for machines or for mechanical appliances) imported worldwide rose notably to 196K tons, picking up by 9.8% against the previous year's figure. The total import volume increased at an average annual rate of +4.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 when imports increased by 17% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

In value terms, cutting blade imports amounted to $4.5B in 2022. The total import value increased at an average annual rate of +3.3% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 17% against the previous year. Global imports peaked in 2022 and are expected to retain growth in years to come.

Imports By Country

The countries with the highest levels of cutting blade imports in 2022 were the United States (17K tons), Germany (14K tons), Mexico (10K tons), Russia (7.9K tons), France (7.7K tons), Ireland (6.5K tons), the Netherlands (6.4K tons), China (6.3K tons), the UK (6.1K tons), Turkey (6K tons), India (5.9K tons) and Spain (5.2K tons), together resulting at 51% of total import. Italy (4.7K tons) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +47.0%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the largest cutting blade importing markets worldwide were China ($853M), the United States ($484M) and Germany ($292M), with a combined 36% share of global imports. Mexico, France, Turkey, the Netherlands, Russia, the UK, Italy, Spain, India and Ireland lagged somewhat behind, together comprising a further 21%.

Ireland, with a CAGR of +14.5%, saw the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average cutting blade import price amounted to $23,057 per ton, dropping by -8.4% against the previous year. Over the period under review, the import price showed a mild downturn. The most prominent rate of growth was recorded in 2017 an increase of 8.5%. Over the period under review, average import prices attained the peak figure at $27,970 per ton in 2018; however, from 2019 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was China ($134,717 per ton), while Ireland ($2,898 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.6%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Knives And Cutting Blades (For Machines Or For Mechanical Appliances)

In 2022, the amount of knives and cutting blades (for machines or for mechanical appliances) exported worldwide stood at 166K tons, growing by 7.2% compared with the previous year. The total export volume increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 22%. The global exports peaked in 2022 and are likely to continue growth in the immediate term.

In value terms, cutting blade exports reached $3.6B in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2021 with an increase of 22% against the previous year. Over the period under review, the global exports hit record highs in 2022 and are likely to see gradual growth in years to come.

Exports By Country

In 2022, China (43K tons), distantly followed by Germany (26K tons), Austria (13K tons) and France (9.1K tons) were the main exporters of knives and cutting blades (for machines or for mechanical appliances), together achieving 55% of total exports. The following exporters - the Netherlands (5.2K tons), the Czech Republic (4.9K tons), India (4.9K tons), Italy (4.5K tons), the United States (4.4K tons), Japan (3.8K tons), Turkey (3.3K tons), Taiwan (Chinese) (3K tons) and Poland (2.9K tons) - together made up 22% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the United States (with a CAGR of +52.6%), while the other global leaders experienced more modest paces of growth.

In value terms, the largest cutting blade supplying countries worldwide were Germany ($692M), China ($644M) and the United States ($332M), together accounting for 46% of global exports. Japan, Austria, Italy, the Netherlands, France, the Czech Republic, Taiwan (Chinese), India, Poland and Turkey lagged somewhat behind, together accounting for a further 28%.

Turkey, with a CAGR of +18.8%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average cutting blade export price amounted to $21,686 per ton, dropping by -4.8% against the previous year. Overall, the export price continues to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2018 an increase of 6.4% against the previous year. As a result, the export price reached the peak level of $24,079 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($75,352 per ton), while India ($9,493 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+6.3%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform