According to Reports and Insights analysis, the Slitting Knives Market to register a CAGR of 4.6% during the forecast period of 2023 to 2031. The Growth of the market is attributed to the increasing demand for slitting knives from various industries, including packaging, food processing, and textiles.
Slitting Knives Market Overview
Slitting knives are used to cut various materials into narrow strips. They are widely used in a variety of industries, including packaging, food processing, textiles, and printing. Slitting knives are available in different materials, such as high-speed steel, tungsten carbide, and ceramic. The type of slitting knife used depends on the material being cut and the desired cutting quality.
Slitting Knives Market Segmentation
The global slitting knives market can be segmented by material, application, and end-user industry.
By Material
- High-speed steel
- Tungsten carbide
- Ceramic
- Others
By Application
- Packaging
- Food processing
- Textiles
- Printing
- Others
By End-User Industry
- Packaging
- Food and beverage
- Textile
- Printing
- Metalworking
- Others
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Slitting Knives Market Dynamics
The key drivers of the global slitting knives market include the increasing demand for slitting knives from various industries, such as packaging, food processing, and textiles. The growth of the e-commerce industry is also driving the demand for slitting knives, as more and more products are being packaged and shipped.
The key challenges facing the global slitting knives market include the high cost of raw materials and the increasing competition from low-cost manufacturers in developing countries.
Slitting Knives Market Top Key Players
The key players in the global slitting knives market include:
- Aesculap AG
- B. Braun Melsungen AG
- Conmed Corporation
- DePuy Synthes
- Ethicon Inc.
- Johnson & Johnson
- Medtronic plc
- Smith & Nephew plc
- Stryker Corporation
- Terumo Corporation
- Zimmer Biomet Holdings Inc.
Slitting Knives Market Size and Share Forecast
Growing at a CAGR of 4.6% from 2023 to 2031. The packaging industry is expected to be the largest end-user industry for slitting knives, accounting for over 35% of the market share in 2031.
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