September U.S. cutting tool consumption totaled $170.8 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 1.3 percent from August’s total, down 11.7 percent from September 2014 and down 1.9 percent when compared year-to-date in 2014.
These numbers and all data in this report are based on the totals actually reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.
"The month to month performance shows little change and certainly no significant recovery from the effects of the strong dollar and low oil prices, therefore the current industry conditions will continue," says Brad Lawton, chairman of AMT’s Cutting Tool Product Group. This September was expected to be down from 2014’s numbers as IMTS bloomed into shipments in 2014.
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.