The Cutting Tool Market Report (CTMR) News Release
For Immediate Release: May 10, 2017

 

Contact:

Pat McGibbon, AMT, 703-827-5255
pmcgibbon@AMTonline.org

Susan Orenga, USCTI, 216-241-7333
sorenga@thomasamc.com
 

 

TU.S. Cutting Tool 2017 YTD Consumption up 5.9% in March

 

McLean, Va., (May 10, 2017) -  March U.S. cutting tool consumption totaled $200.05 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 14.3% from February’s $174.98 million and up 8.4%  when compared with the total of $184.57 million reported for March 2016. With a year-to-date total of $548.08 million, 2017 is up 5.9% when compared with 2016.

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 industry reported numbers are supporting the positive feelings that exist in the Domestic Market,” says Brad Lawton, Chairman of AMT’s Cutting Tool Product Group. “This is a very welcome improvement and support for the Trump Administration’s pro manufacturing policies”

Johan Israelsson, President of Sandvik Hyperion adds “It is clear that there is a much stronger customer demand across all sectors of the global market that we serve.  Although there is some tendency to rebuild inventories as one driver, we are also experiencing an underlying market growth.  It is especially encouraging to see optimism within the Oil and Gas industry after a very difficult period.”

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.


(CTMR data is also available at www.AMTonline.org.)
ISSN# 10807756

 



# # #

 

AMT - The Association For Manufacturing Technology LogoAMT – The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members—those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow’s Smartforce. AMT owns and manages IMTS — The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America.

The United States Cutting Tool Institute (USCTI) was formed in 1988 and resulted from a merger of the two national associations representing the cutting tool manufacturing industry. USCTI works to represent, promote, and expand the U.S. cutting tool industry and to promote the benefits of buying American-made cutting tools manufactured by its members. The Institute recently expanded its by-laws to include any North American manufacturer and/or remanufacturer of cutting tools, as well as post-fabrication tool surface treatment providers. Members, which number over 80, belong to seven product divisions: Carbide Tooling, Drill & Reamer, Milling Cutter, PCD & PCBN, Tap & Die, Tool Holder and All Other Tooling. A wide range of activities includes a comprehensive statistics program, human resources surveys and forums, development of product specifications and standards, and semi-annual meetings to share ideas and receive information on key industry trends.

 

# # #