The Cutting Tool Market Report (CTMR) News Release
For Immediate Release: November 15, 2018

 

Contact:

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

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

 

 Cutting tool consumption slides in September

Overall consumption still up 12.8 percent for the year

 

McLean, Va., (November 15, 2018) -  September 2018 U.S. cutting tool consumption totaled $210.58 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 collaboration, was down 5.5 percent from August’s $222.82 million and up 20.4 percent when compared with the $174.92 million reported for September 2017. With a year-to-date total of $1.846 billion, 2018 is up 12.8 percent when compared with 2017.

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 September 2018 cutting tool industry data is still supporting strong sales. As the industry is enjoying this increased business volume, the majority of cutting tool manufacturers are coping with the challenges of limited manufacturing capacity, increasing material prices, shortages of available labor and global trade unrest because of imposed tariffs. In summary, it’s another sunny day in paradise,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group.

According to Johan Israelsson, Senior Vice President & Head of Global Sales for Sandvik Applied Manufacturing Technologies, “2018 has been a very strong year for the cutting tools industry in most market segments. In some areas demand has been extremely strong such as in aerospace, defense, energy and general engineering. At recent industry events, such as IMTS, the mood has been very positive as well. However, September does seem to show some deceleration, which we are also seeing in some of the European markets. With this, and although year-over-year numbers are still strong, we may see a slowing growth over the coming periods.”

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.
The graph below includes the 12-month moving average for the durable goods shipments and cutting tool orders. These values are calculated by taking the average of the most recent 12 months and plotting them over time.


 



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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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