The cutting tool consumption in the United States for September totaled $176.5 million, according to the U.S. Cutting Tool Institute and the Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 4.6 percent from August’s total and up 7.7% from September 2013.
These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals represent about 80 percent of the U.S. market for cutting tools.
“The 4.6 percent increase for September’s cutting tool shipments was not a surprise as the market’s expectations were for a strong finish in 2014,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group. “There is every indication that the momentum from the fall of 2014 is a harbinger of continued growth in industrial production and cutting tool sales for 2015.”
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.