McLean, Virginia – December U.S. cutting tool consumption totaled $176.04 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 4.4% from November’s $168.69 million and up 12.5% when compared with the total of $156.49 million reported for December 2015. With a year-to-date total of $2.042 billion, 2016 is down 4.3% when compared with 2015.
These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.
“The cutting tool market data continues to show signs of strengthening,” says Steve Stokey, president of USCTI. “There is a great deal of positive chatter in most manufacturing sectors that would indicate there are high expectations for 2017. This should drive higher demand for cutting tools.”
The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.
Historical data for the Cutting Tool Market Report is available dating back to January 2012. This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.
Source: USCTI & AMT