PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358164
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1358164
Global safety knives market was valued at US$ 236.9 Million in 2022, exhibiting a CAGR of 6.0% during the forecast period (2023 to 2030).
Report Coverage | Report Details | ||
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Base Year: | 2022 | Market Size in 2023: | US$ 236.9 Mn |
Historical Data for: | 2018 to 2021 | Forecast Period: | 2023 - 2030 |
Forecast Period 2023 to 2030 CAGR: | 6.00% | 2030 Value Projection: | US$ 377.0 Mn |
Safety knives are knives that are used for opening packaging, cartons, and boxes. Safety knives are of different types such as fully automatic retractable safety knives, semi-automatic retractable safety knives, concealed blade safety knives, and others. Moreover, individuals can get safety knives from home center & hardware, mass retail, e commerce, industrial shops, and others. The global safety knives market is a growing industry that include a wide range of cutting tools designed to improve workplace safety and efficiency. Safety knives are used in a variety of industries, including manufacturing, construction, food processing, and healthcare, among others.
Growing demand for safety knives at work places around the globe is expected to provide potential opportunities for safety knives manufacturers. Safety knives features a spring-back mechanism that allows the blade to retract when the knife loses contact with the cutting surface. Safety knives can be used for multiple purposes, and is used in across a wide range of professions and industries. These benefits offered by safety knives are expected to drive the market growth during the forecast period. One of the key factors driving the growth of the safety knives market is the increasing adoption of automation in various industries. Automated cutting tools, including safety knives, are becoming increasingly popular due to their ability to improve efficiency and reduce the risk of workplace injuries. Another factor contributing to the growth of the safety knives market is the increasing demand for eco-friendly and sustainable cutting tools. Many manufacturers are now producing safety knives made from recycled materials or using sustainable manufacturing processes, which is driving demand from environmentally conscious consumers.
The knife doesn't the same results after it becomes blunt. Many knives does not offer easy-to-replace blades, and thus, companies have to spend more money for purchasing new safety knives. However, self-retracting safety knives offer replaceable blades that helps company to save money. This feature of the self-retracting safety knife boosts demand for safety knives from various industries such as food, retail, construction, medical, warehousing, automotive, and others.