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September U.S. cutting tool consumption was $176.5 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 collaboration, was up 4.6 percent from August’s total and up 7.7 percent from September 2013.
The totals represent about 80 percent of the U.S. market for cutting tools.
“The 4.6% increase for September’s cutting tool shipments was not a surprise as the market’s expectations were for a strong finish in 2014,” said Brad Lawton, chairman of AMT’s cutting tool product group. “There is every indication that the momentum from the fall of 2014 is a harbinger of continued growth in industrial production and cutting tool sales for 2015.”