Posted May 6, 2022

Cutting tool consumption climbed in March

March 2022 U.S. cutting tool consumption totaled $196.4 million, up 17.2 percent from February’s $167.6 million and up 10.6 percent when compared with the $177.6 million reported for March 2021.

With a year-to-date total of $523.9 million, 2022 is up 11 percent when compared to the same time period in 2021, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology..

“The total sales volume for March 2022 is the highest total since October of 2019; this is a
welcome volume,” said Brad Lawton, chairman of the AMT Cutting Tool Product
Group. “However, we must ask: What part of this volume is the result of inflation? At the recent MFG Meeting presented by AMT, the presence of inflation in the economy was clear but not expected to develop into a recession. The cutting tool industry will positively evaluate the future and plan accordingly for a soft landing.”

Alan Richter, editor-at-large of Cutting Tool Engineering, also commented on inflation, saying, “While challenges to the metal cutting sector remain, it's encouraging to see that the dollar total for U.S. cutting tool orders in March 2022 is at a level not seen since prior to the pandemic, in October 2019. Some of that is the result of inflation, as the cost of carbide and other tool materials increase along with the price to produce and transport tools, but cutting tool consumption looks likely to continue to rise throughout the year as manufacturers continue to ship more durable goods. I'm looking forward to experiencing a lot of positive energy at IMTS in September.”