Cutting Tool Market Report: 'Strong finish' for 2016

Published
February 15, 2017 - 09:15am

Down, but getting back up: December 2016 U.S. cutting tool consumption totaled $176.04 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT — The Association for Manufacturing Technology.

This total was up 4.4 percent from November’s $168.69 million and up 12.5 percent when compared with the total of $156.49 million in December 2015, as reported by companies participating in the Cutting Tool Market Report collaboration. The total for 2016 was $2.042 billion.

Though the yearly total for 2016 is down 4.3 percent when compared with 2015, USCTI President Steve Stokey said cutting tool market report contains some promising data for the near future.

"The cutting tool market data continues to show signs of strengthening," said Stokey. "There is a great deal of positive chatter in most manufacturing sectors that would indicate there are high expectations for 2017. This should drive higher demand for cutting tools."

Click here to read USCTI's news release (PDF)

Related Glossary Terms

  • chatter

    chatter

    Condition of vibration involving the machine, workpiece and cutting tool. Once this condition arises, it is often self-sustaining until the problem is corrected. Chatter can be identified when lines or grooves appear at regular intervals in the workpiece. These lines or grooves are caused by the teeth of the cutter as they vibrate in and out of the workpiece and their spacing depends on the frequency of vibration.

Author

Former Senior Editor
734-606-9673

Michael Anderson, former senior editor at Cutting Tool Engineering magazine, holds a master's degree in written communication from Eastern Michigan University. He has been professionally writing about manufacturing technology since 1998, including more than 10 years at the Society of Manufacturing Engineers.

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