The Cutting Tool Market Report (CTMR) News Release
For Immediate Release: June 14, 2017

 

Contact:

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

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

 

  U.S. Cutting Tool 2017 YTD Consumption up 3.5% in April

 

McLean, Va., (June 14, 2017) -  April U.S. cutting tool consumption totaled $168.03 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 down 16% from March’s $200.05 million and down 3.6%  when compared with the total of $174.26 million reported for April 2016. With a year-to-date total of $716.11 million, 2017 is up 3.5% 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.

“Once you get past the initial shock of seeing a large downturn in April and look deeper into the numbers, you begin to see that April had four less working days than March,” says Steve Stokey, President of USCTI. “The average sales per working day were actually up in April. This is good news for the industry as it continues to outperform 2016.”

Chris Kaiser, CEO of Big Kaiser comments “We have seen the cutting tool market recuperate and gain strength since IMTS 2016, with the exception of one or two months. If the activity in oil and gas, mining, construction, and agricultural industries continues to improve, I think we could see a continued year-over-year increase in cutting tool consumption. Once the situation for the machine tool OEM’s improves above and beyond the latest somewhat positive trends, things could actually accelerate faster than we expect. The only concern is whether this trend is sustainable, or will our politicians somehow spoil the party?”

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

 
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AMT - The Association For Manufacturing Technology LogoAMT – The Association For Manufacturing Technology represents U.S.-based builders and distributors of manufacturing technology – the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, VA, near the nation’s capital, AMT acts as the industry’s voice to speed the pace of innovation, increase global competitiveness and develop manufacturing’s advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, AMT offers its members an unparalleled level of support. AMT also produces IMTS – The International Manufacturing Technology Show, the premier manufacturing technology event in North America. The CTPG report is compiled by AMT and all data in the report is based on the totals of actual data reported by companies participating in the CTPG program.

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.

 

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