Global Box Cutter Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Box Cutter Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Box Cutter is a small cutting tool that is designed for opening cardboard boxes and typically consists of a retractable razor blade in a thin metal or plastic sheath. Box Cutter can be divided into Snap-off Knives, Retractable Knives, Fixed Blade Knives.

Market Overview:

The latest research study on the global Box Cutter market finds that the global Box Cutter market reached a value of USD 1042.14 million in 2022. It’s expected that the market will achieve USD 1145.8 million by 2028, exhibiting a CAGR of 1.59% during the forecast period.

Market Risks/Restraints

With the development of the Internet and the rise of e-commerce, Box Cutter product prices, product types, and product functions have become more transparent. Before purchasing a Box Cutter, consumers can obtain a large amount of information through online channels, and their choices are gradually increasing.

The homogeneity of Box Cutter products is serious. When consumers choose products, price becomes an important criterion. Based on the above reasons, low-price competition has gradually become an important means for Box Cutter companies to compete for market share. The phenomenon of low-price competition forces more companies to be involved in price wars. In this process, small and medium-sized enterprises with weak financial strength are more likely to be eliminated by the market.

In order to stabilize the market foundation and maintain corporate profit levels, Box Cutter companies usually adopt the following measures: Small profits but quick turnover: Directly reduce product prices to increase product price advantages, thereby driving product sales to increase, relying on product sales to ensure corporate profits; reducing labor Cost: Hiring cheap labor and extending labor hours to reduce labor costs; reducing production costs: including reducing raw material costs, reducing production procedures, reducing raw material costs can be achieved by reducing the quality of raw materials, and reducing production procedures can be achieved by reducing product functions
.

All of the above methods have drawbacks. Small profits but quick turnover are prone to a vicious circle, and there are requirements for the financial strength and production capacity of enterprises. Currently, labor costs tend to rise, and the reduction of labor costs by companies will affect the stability of employees. The reduction of the cost of raw materials by enterprises will directly lead to the decline of product quality, which is not conducive to the accumulation of product reputation. Therefore, low-price competition has a high degree of damage to enterprises in terms of capital, labor, and word of mouth, which is not conducive to the long-term development of enterprises, and thus affects the healthy and orderly development of the industry.

Region Overview:

From 2023-2028, Asia Pacific is estimated to witness robust growth prospects.

Company Overview:

The top three companies are Xingwei Cutting-Tools Technology, Stanley, Taizhou Weixiang Plastic Co., Ltd., with the revenue market share of 5.19%, 4.78%, 3.67% in 2020.

Xingwei Cutting-Tools Technology

Xingwei Cutting-Tools Technology is a great and influential manufacturer of tool knives and art knives in China. The company is equipped with 236 sets of modern automatic painting line, automatic assembly and packaging line, direct reading spectrometer and other cutting tool production and testing equipment. Xingwei Cutting-Tools Technology has set up the R&D center of China art knife industry, which is a tool manufacturer with GS certificate in China.

Stanley

For the builders and protectors, for the makers and explorers, for those shaping and reshaping our world through hard work and inspiration, Stanley Black & Decker provides the tools and innovative solutions. Stanley focuses on domain security solutions, construction and DIY, industrial and automobile maintenance and engineering fastening.

Segmentation Overview:

Among different product types, Retractable Knives segment is anticipated to contribute the largest market share in 2028.

Application Overview:

By application, the Household segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Box Cutter market covered in Chapter 3:

Taizhou Weixiang Plastic
3M
Co., Ltd.
Xingwei Cutting-Tools
Milwaukee
BESSEY
DELI
Stanley
MARTOR
Gerber
NT cutter
CRAFTSMAN
COSCO
HASEGAWA
ALLWAY
AMPCO
Technology
OLFA
CLAUSS

In Chapter 4 and Chapter 14.2, on the basis of types, the Box Cutter market from 2018 to 2029 is primarily split into:

Snap-off Knives
Retractable Knives
Fixed Blade Knives

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Box Cutter market from 2018 to 2029 covers:

Commercial
Household
Industrial

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)