Driven by increased demand in construction and industrial sectors, coupled with opportunities in emerging markets

WILMINGTON, DE, UNITED STATES, December 16, 2024 /EINPresswire.com/ -- Hacksaw Blades Market Overview and Growth Insights

A recent report by Allied Market Research titled "Hacksaw Blades Market" highlights that the global hacksaw blades market was valued at $1.0 billion in 2021 and is projected to grow to $1.7 billion by 2031, registering a compound annual growth rate (CAGR) of 4.7% from 2022 to 2031. Hacksaw blades, typically made from nitrated steel, cast iron, aluminum brass, and stainless steel, are key tools for cutting materials such as metal, wood, and plastic. Their cutting efficiency is determined by the teeth on the blades, with variations available in 10 TPI, 14 TPI, 18 TPI, 24 TPI, and 32 TPI. These blades are mounted under tension in a hacksaw frame and are utilized in both manual and electric hacksaws, catering to DIY enthusiasts and professional users alike.

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Market Drivers
Increased Demand in Sawmill Manufacturing
The rise in the use of hacksaw blades in sawmill manufacturing processes is a significant factor fueling market growth. With increasing demand for furniture in newly constructed and renovated buildings, the production of precisely cut wood has surged. This trend has positively influenced the demand for hacksaw blades.

Urbanization and Infrastructure Development
According to data from the United Nations, the global urban population is expected to grow from 29% in 1950 to 60% by 2030. Rapid urbanization, particularly in the Asia-Pacific region, is projected to bring an additional 2.5 billion people into urban areas by 2050. This urban growth has led to heightened construction activities, further boosting the demand for hacksaw blades for wood and metal cutting applications. Additionally, increased industrialization and infrastructure development have spurred investments in machinery, contributing to the expansion of the hacksaw blades market.

Challenges Facing the Market
Despite the market's growth potential, it faces competition from advanced technologies such as laser and waterjet cutting. These technologies are more efficient, consuming less time and power, and are capable of cutting intricate shapes in wood and metal. Consequently, they pose a challenge to traditional hacksaw blade adoption.

The COVID-19 pandemic also disrupted global supply chains, halting manufacturing and logistics activities. This interruption temporarily restrained market growth. However, as restrictions ease and business activities resume, the market is expected to recover.

Opportunities in Emerging Economies
Emerging economies like China, India, and Brazil are poised to provide new growth avenues for the hacksaw blades market. The development of advanced machinery and equipment in these regions is anticipated to create significant opportunities during the forecast period. As industries in these economies continue to modernize, the demand for high-quality cutting tools is expected to rise.

Market Segmentation
The hacksaw blades market is segmented based on consumer type, thread per inch (TPI), application, and region:

Consumer Type: Divided into DIY users and professionals, the professional segment contributed the highest revenue in 2021.
Thread Per Inch: Categories include 14 TPI, 24 TPI, and others. The "others" segment dominated the market in 2021.
Application: The market is segmented into manual and electric hacksaws, with the manual segment leading in 2021.
Regional Analysis: Asia-Pacific emerged as the highest revenue-generating region in 2021, driven by rapid urbanization and industrialization.

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Key Market Players
Leading companies in the hacksaw blades market include:

Apex Tool Group LLC
Chronos
Disston Company
Gedore
HABUR-SAWS GmbH
Klein Tools, Inc.
Snap-on Incorporated
Stanley Black & Decker, Inc.
Starrett
Thomas Flinn & Co.
These players adopt strategies such as product launches and business expansion to strengthen their market position and offer enhanced solutions to customers.

Key Insights from the Report
The professional consumer segment was the largest revenue contributor in 2021.
The "others" category dominated the market in terms of thread per inch.
Manual hacksaws led the market by application in 2021.
Asia-Pacific accounted for the highest revenue, showcasing strong regional growth potential.
The hacksaw blades market is poised for sustained growth, driven by increased demand in construction and industrial sectors, coupled with opportunities in emerging markets. However, addressing challenges posed by competing technologies and supply chain disruptions will be crucial for market players to achieve long-term success.

David Correa
Allied Market Research
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