March U.S. cutting tool consumption totaled $184.1 million, according to the U.S. Cutting Tool Institute and AMT – the Association for Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 6.2 percent from February’s total and down 7.9 percent from March 2015.
With a year-to-date total of $516.1 million, 2016 is down 8.5 percent when compared with 2015.
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 cutting tool industry seems to be on its current plateau, which shows slow sales volume improvements for the last four months,” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group. "Improvements in the domestic economy and international markets are necessary to establish growth in our industry."
