January 12, 2014 - December U.S. cutting tool consumption totaled $138 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 (CTMR) collaboration, was down 11.7 percent from Novembers total and down 3.9 percent from December 2012. Year-to-date shipments are $2.03 billion, which is down 3.9 percent from 2012.
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 about 80 percent of the U.S. market for cutting tools.
Clearly the numbers are indicative of an economy that has been struggling throughout the year. December was further inhibited by the holidays in mid-week creating a very short month in terms of business days, said Tom Haag, President of USCTI. Forecasts for 2014 indicate growth for the industry, which we anticipate with confidence
The Cutting Tool Market Report (CTMR) 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.
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(CTMR data is also available at www.AMTonline.org.)
AMT The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its membersthose who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrows Smartforce. AMT owns and manages IMTS The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America. The USMTO 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 USMTO 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.