U.S. cutting tool consumption totaled $159.9 million in January 2022, a 10.5% increase year-over-year, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association for Manufacturing Technology report. Consumption in January 2022 was down 2.7% from December’s $164.3 million but up compared with the $144.8 million reported for January 2021.
Numbers and data were gathered from companies participating in the Cutting Tool Market Report collaboration and represent the majority of the U.S. cutting tool market. These figures are the latest available and were released on March 30, 2022.