U.S. Cutting Tool 2017 Consumption up 5.8 Percent in May
May U.S. cutting tool consumption totaled $191.93 million according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 14.2% from April’s $168 million and up 15.5% when compared with the total of $166 million reported for May 2016. With a year-to-date total of $908 million, 2017 is up 5.8% when compared with 2016.
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.