Contact: Pat McGibbon, AMT, 703-827-5255
pmcgibbon@AMTonline.org
 
Susan Orenga, USCTI, 216-241-7333
sorenga@thomasamc.com
For Release: May 10, 2019

  

U.S. Cutting Tool Consumption Up 1.6 Percent in March

March 2019 U.S. cutting tool consumption totaled $210.4 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 up 2.3 percent from February’s $205.6 million and up 1.6 percent when compared with the $207.1 million reported for March 2018. With a year-to-date total of $631.1 million, 2019 is up 8.6 percent when compared with 2018. 

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 a significant market share of the U.S. market for cutting tools. 

“The cutting tool industry had a better first quarter in 2019 as compared to 2018. This positive performance would be helped if China and the USA could reach a new trade agreement that would provide stability to the markets,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group.  

According to Costikyan Jarvis, President of Jarvis Cutting Tools, “Growth is good, even if it is not growing as fast as it used to. You can see that in March’s cutting tool usage data. The year-over-year growth is now 8.6%, which is still good, but not as good as the past number which showed over 12% growth. The April ISM Manufacturing PMI (52.8) shows continued expansion, and employment growth bounced back from a poor February (56,000) to a much stronger March number (189,000). Housing numbers continue to disappoint, but that is offset by strong auto and aerospace production. We all like growth, and the March data continue to point to growth in 2019.” 

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


AMT-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 two national associations representing the cutting tool manufacturing industry. The Institute 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. Membership includes North American manufacturers and/or remanufacturers of cutting tools, as well as tool surface treatment providers. Members, which number over 70, belong to ten product divisions: Carbide Tooling, Drill & Reamer, Metal Cutting Saw Blades, Milling Cutter, Polycrystalline Diamond & Polycrystalline Cubic Born Nitride, Substrate Materials, Surface Coating, Tap & Die, Tool Holder and All Other Tooling. A wide range of activities include a comprehensive statistics program, human resources surveys, development of product specifications and standards, and semi-annual meetings to share ideas and receive information on key industry trends.

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USCTI – United States Cutting Tool Institute
1300 Sumner Avenue, Cleveland, OH 44115-2851
216-241-7333 / 216-241-0105 fax / www.USCTI.com

AMT – The Association For Manufacturing Technology
7901 Jones Branch Drive, Suite 900, McLean, VA 22102
703-893-2900  / 703-893-1151 fax  / www.AMTonline.org