Saw Blades Market Size, Share, Growth Analysis, By Type(Carbide Saw Blades, Diamond Saw Blades, and Others), By Product(Circular Saw, Band Saw, Chain Saw, Hand Saw), By Application(Wood Cutting, Metal Cutting, Stone Cutting, and Others), By Region - Industry Forecast 2024-2031

Drivers

• Increase in Automotive Demand Is One of the Factors Driving the Growth of Saw Blades

Saw blades are commonly used in the automotive industry to cut metal and rubber, and to shape car or engine bodies or wheels. On the other hand, electric cars were gaining popularity through technological innovation. For example, the United States is expected to be a global leader in next-generation automotive technology. With economic incentives and R&D support, the country is confident of reducing reliance on petroleum products for transportation, and the future of electric vehicles (EV) looks promising. Such a growing trend of electric vehicles will drive the market growth of saw blades during the forecast period.

Advances in Physical Technology

• Nowadays, increasing advancement in physical technology is driving the demand for saw blades. In addition to this, there has been an increase in advanced composite materials which exhibit good strength, resistance and thermal stability. These materials are being combined in the manufacture of saw blades to improve cutting efficiency and durability. In addition, ongoing R&D efforts in materials science continue to provide new alloy structures and surface coatings specifically designed to meet the needs of various cutting applications. Current focus is on improving microstructure and hardness quality in saw blade materials helps increase accuracy, reduce wear and extend service life.

Restraints

• Volatility in Raw Material Prices

Basic ferrous raw materials such as iron, steel, and others have experienced significant price fluctuations. For example, in 2020, the prices of metals and precious stones rose sharply due to the COVID-19 pandemic. Steel prices rose 25% in the first quarter of 2021 compared to a year ago, mainly due to relentless Chinese demand. Additionally, raw material prices have reached a point where they are influencing raw material suppliers to pass the increased costs on to their downstream businesses. This will hamper the growth of the sawblades market during the forecast period.