Global Knives and Cutting Blades Market to Reach $27.4B by 2030 with +2.3% CAGR

IndexBox has just published a new report: World - Knives And Cutting Blades (For Machines Or For Mechanical Appliances) - Market Analysis, Forecast, Size, Trends and Insights.

The demand for knives and cutting blades is on the rise worldwide, with market performance expected to grow at a CAGR of +2.3% in volume and +4.7% in value from 2024 to 2030. By the end of 2030, the market is projected to reach 603K tons in volume and $27.4B in value, driven by the increasing need for these products in various industries.

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 six years. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +2.3% for the period from 2024 to 2030, which is projected to bring the market volume to 603K tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.7% for the period from 2024 to 2030, which is projected to bring the market value to $27.4B (in nominal wholesale prices) by the end of 2030.

Consumption

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

In 2024, approx. 526K tons of knives and cutting blades (for machines or for mechanical appliances) were consumed worldwide; surging by 2.9% against 2023 figures. The total consumption volume increased at an average annual rate of +2.0% from 2013 to 2024; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. As a result, consumption attained the peak volume of 573K tons. From 2023 to 2024, the growth of the global consumption remained at a lower figure.

The global cutting blade market revenue amounted to $20.9B in 2024, growing by 12% 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). The market value increased at an average annual rate of +2.9% from 2013 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $21.2B. From 2023 to 2024, the growth of the global market remained at a lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2024 were China (114K tons), the United States (74K tons) and India (44K tons), with a combined 44% share of global consumption. Brazil, Germany, Mexico, Canada, Italy, Saudi Arabia and South Korea lagged somewhat behind, together accounting for a further 22%.

From 2013 to 2024, the biggest increases were recorded for Saudi Arabia (with a CAGR of +8.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Canada ($11.7B) led the market, alone. The second position in the ranking was taken by China ($1.9B). It was followed by the United States.

In Canada, the cutting blade market increased at an average annual rate of +3.8% over the period from 2013-2024. The remaining consuming countries recorded the following average annual rates of market growth: China (+2.6% per year) and the United States (+3.4% per year).

The countries with the highest levels of cutting blade per capita consumption in 2024 were Canada (324 kg per 1000 persons), Saudi Arabia (311 kg per 1000 persons) and Germany (246 kg per 1000 persons).

From 2013 to 2024, the most notable rate of growth in terms of consumption, amongst the key consuming countries, was attained by Saudi Arabia (with a CAGR of +6.0%), 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 2024, global cutting blade production was estimated at 509K tons, with an increase of 5.5% against 2023 figures. The total output volume increased at an average annual rate of +2.0% over the period from 2013 to 2024; the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2022 when the production volume increased by 18% against the previous year. As a result, production attained the peak volume of 538K tons. From 2023 to 2024, global production growth remained at a somewhat lower figure.

In value terms, cutting blade production stood at $21.6B in 2024 estimated in export price. Overall, production recorded measured growth. The most prominent rate of growth was recorded in 2018 when the production volume increased by 82% against the previous year. Global production peaked at $23.4B in 2022; however, from 2023 to 2024, production remained at a lower figure.

Production By Country

China (159K tons) constituted the country with the largest volume of cutting blade production, accounting for 31% of total volume. Moreover, cutting blade production in China exceeded the figures recorded by the second-largest producer, the United States (59K tons), threefold. The third position in this ranking was taken by India (46K tons), with a 9% share.

In China, cutting blade production expanded at an average annual rate of +4.0% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: the United States (+1.9% per year) and India (+3.8% per year).

Imports

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

In 2024, purchases abroad of knives and cutting blades (for machines or for mechanical appliances) decreased by -15.2% to 153K tons, falling for the second consecutive year after two years of growth. The total import volume increased at an average annual rate of +2.1% from 2013 to 2024; 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 23% against the previous year. Global imports peaked at 203K tons in 2022; however, from 2023 to 2024, imports remained at a lower figure.

In value terms, cutting blade imports shrank slightly to $4.1B in 2024. The total import value increased at an average annual rate of +1.7% from 2013 to 2024; however, the trend pattern remained consistent, with only minor fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 17%. As a result, imports attained the peak of $4.3B. From 2022 to 2024, the growth of global imports failed to regain momentum.

Imports By Country

In 2024, the United States (18K tons), followed by Germany (8.8K tons) were the key importers of knives and cutting blades (for machines or for mechanical appliances), together mixing up 18% of total imports. The following importers - Spain (6.8K tons), Ireland (6.1K tons), China (5.4K tons), Vietnam (5.2K tons), Russia (4.9K tons), France (4.4K tons), the UK (4.4K tons) and Japan (4K tons) - together made up 27% of total imports.

The United States was also the fastest-growing in terms of the knives and cutting blades (for machines or for mechanical appliances) imports, with a CAGR of +59.6% from 2013 to 2024. At the same time, Ireland (+24.5%), Vietnam (+8.2%), Spain (+5.6%) and Russia (+3.4%) displayed positive paces of growth. Japan and France experienced a relatively flat trend pattern. By contrast, Germany (-1.0%), China (-1.3%) and the UK (-1.5%) illustrated a downward trend over the same period. From 2013 to 2024, the share of the United States, Ireland and Vietnam increased by +12, +3.5 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($702M), the United States ($464M) and Germany ($223M) constituted the countries with the highest levels of imports in 2024, together comprising 34% of global imports. Russia, France, the UK, Spain, Japan, Vietnam and Ireland lagged somewhat behind, together accounting for a further 14%.

Ireland, with a CAGR of +19.0%, recorded the highest growth rate of the value of imports, among 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 2024, the average cutting blade import price amounted to $26,659 per ton, increasing by 14% against the previous year. Overall, the import price, however, continues to indicate a relatively flat trend pattern. Global import price peaked at $27,635 per ton in 2013; however, from 2014 to 2024, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2024, amid the top importers, the country with the highest price was China ($130,761 per ton), while Ireland ($5,487 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the UK (+4.3%), 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 2024, overseas shipments of knives and cutting blades (for machines or for mechanical appliances) decreased by -10.6% to 136K tons, falling for the second year in a row after two years of growth. The total export volume increased at an average annual rate of +1.9% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 32% against the previous year. The global exports peaked at 168K tons in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

In value terms, cutting blade exports fell to $3.4B in 2024. The total export value increased at an average annual rate of +2.3% from 2013 to 2024; 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%. The global exports peaked at $3.7B in 2023, and then fell in the following year.

Exports By Country

In 2024, China (50K tons) represented the largest exporter of knives and cutting blades (for machines or for mechanical appliances), achieving 37% of total exports. Germany (16K tons) held the second position in the ranking, followed by Austria (7.9K tons). All these countries together held approx. 17% share of total exports. France (5.4K tons), the Czech Republic (4K tons), Italy (3.9K tons), the Netherlands (3.4K tons), the United States (3.4K tons), Japan (2.9K tons) and South Korea (2.8K tons) followed a long way behind the leaders.

From 2013 to 2024, average annual rates of growth with regard to cutting blade exports from China stood at +7.0%. At the same time, the United States (+48.5%) and Italy (+3.1%) displayed positive paces of growth. Moreover, the United States emerged as the fastest-growing exporter exported in the world, with a CAGR of +48.5% from 2013-2024. The Czech Republic experienced a relatively flat trend pattern. By contrast, France (-1.0%), South Korea (-1.5%), Germany (-2.2%), Austria (-2.6%), Japan (-3.4%) and the Netherlands (-4.5%) illustrated a downward trend over the same period. While the share of China (+16 p.p.) and the United States (+2.4 p.p.) increased significantly in terms of the global exports from 2013-2024, the share of France (-1.5 p.p.), Japan (-1.7 p.p.), the Netherlands (-2.6 p.p.), Austria (-3.7 p.p.) and Germany (-6.6 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($748M), Germany ($574M) and the United States ($290M) appeared to be the countries with the highest levels of exports in 2024, together accounting for 48% of global exports. Japan, Austria, Italy, the Netherlands, the Czech Republic, France and South Korea lagged somewhat behind, together accounting for a further 23%.

Among the main exporting countries, South Korea, with a CAGR of +7.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average cutting blade export price stood at $24,764 per ton in 2024, increasing by 1.5% against the previous year. Overall, the export price showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the average export price increased by 31%. As a result, the export price attained the peak level of $26,944 per ton. From 2019 to 2024, the average export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was the United States ($86,138 per ton), while France ($14,837 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by South Korea (+9.2%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform