The market for safety knives is expanding as they are being used more frequently in workplaces. Utility knives, the most widely used instruments in workplaces, are to blame for this. In an emergency, they can be used to cut seatbelts, open bags, peel away wrapping, cut strings or strapping materials, and open cartons or shipments. Yet, using the incorrect cutting tools at work might result in occupational injuries, which can lead to shorter workdays, higher production costs, or decreased productivity. As a result, businesses are concentrating on choosing the proper cutting tool in an effort to decrease accidents and encourage safety. The market for safety knives is anticipated to increase as a result of the expansion of application industries. Safety knives are widely used in many different industries, including the food, retail, and construction, medical, warehousing, and automotive sectors, among others. Over the forecast period, demand for safety knives is anticipated to be driven by the expanasion of this industry. For instance, the Indian food processing industry is anticipated to reach US$ 535.0 billion by 2026, according to Invest India in 2020 (National Investment Promotion and Facilitation Agency of the Government of India).
According to Coherent Market Insights, With a CAGR of 4.67% over the anticipated period, the global market for Safety Knives was valued at US$ 226.00 million in 2021. (2022 to 2030).
Key Competitors in the Safety Knives Industry:
1. The Safety Knife Company,
The business was established in 1993 and has its main office in England. The Safety Knife Company makes a variety of Safety and Utility Knives in the UK and provides safer alternatives to open-bladed knives. The Safety Knife Company has improved workplace safety across all sectors of industry.
2. Techni Trade
The business was established in 1996 and is based in Prague. The business offers ship equipment, ship parts, marine electronics, fuel oils, lubricants, and additives for use in ships. Oil storage maintenance, container sales, and rental services are also provided by MOL Techno-Trade.
3. Hyde Tools, Inc.,
The company was established in 1875 and is located in Massachusetts, United States. Putty knives and scrapers are among the surface preparation tools produced by Hyde Tools, Inc. Moreover, Hyde produces a wide variety of mill blades, hand knives, and industrial blades. Hyde introduced a completely new line of paint brushes and roller covers in 2021.
4. Milwaukee Electric Tool Corporation,
The business was established in 1924 and is situated in Wisconsin, United States. Innovative equipment & workplace solutions have been developed by Milwaukee Tool at the forefront of the sector. The FASTBACK 6in1 Folding Utility Knife, a compact side slide utility knife, and a compact folding knife were three new knives introduced by Milwaukee Electric Tool Corporation, a power tool manufacturer, in September 2022.
5. Irwin Industrial Tools,
The firm was established in 1885 and is based in North Carolina, United States. Power and hand tools are produced by the company. The business produces and sells hand tools and accessories for power tools. IRWIN® announced a new line of SPEEDBOR SUPREMETM Self-Feed and Auger Bits in November 2021.
6. Apex Tool Group, LLC,
The business was established in 2010 and is located in Maryland, United States. The company offers drill chucks, chains, truck boxes, worksite storage items, speciality tools for mechanics and tradespeople, motion control and air ventilation bits and drilling and soldering solutions. ATG provides services to the industrial, automotive, aerospace, building, and electrical sectors.
7. Olfa Corporation,
The firm was founded in 1967 and is based in Japan. The Olfa Corporation produces and sells precise cutters. The company sells a variety of knives, blades, rulers, mats, and accessories, including self-retracting safety cutters and snap-off blades. Olfa sells its goods both domestically and abroad.
*Definition: Open cartons, boxes, and packaging are typically done with a safety knife. Safety knives also feature a self-retracting blade and a spring-loaded mechanism. The paints and coatings industry, the fibre industry, and other industries all employ these knives.
