The monthly CTMR presented by AMT – the Assn. for Manufacturing Technology and the U.S. Cutting Tool Institute documents actual sales totals for cutting tools by participating manufacturers. Cutting-tool consumption is offered as an indicator of manufacturing activity because cutting tools are a primary consumable product in the production of manufactured parts.
The Cutting Tool Market Report is different from AMT’s monthly U.S. Manufacturing Technology Orders report, which tracks new orders for machine tools as an indicator of future manufacturing activity.
Companies participating in the CTMR represent the majority of the U.S. market for such products. Because cutting tools are a basic consumable product for manufacturing activities, the consumption data is further evidence of the ongoing strength of the manufacturing sector.
Chris Kaiser, president and CEO of cutting-tool supplier BIG Kaiser Precision Tooling, said, “Our year-to-date sales reflect what we have seen from the data until August with a 12% plus increase. More machine tools have been sold this year than last. Everyone is equipping their new machines with cutting tools and tool holders. We’ve seen increases in aerospace, defense, and fracking pumps. Automotive, mining, construction and agriculture are good, but not as strong as the previous industries.”
