U.S. tool orders in May 2021 increased by 24.6% year-on-year

  • Tuesday, August 03, 2021
  • Source:ferro-alloys.com

  • Keywords:U.S.
[Fellow]U.S. tool orders in May 2021 increased by 24.6% year-on-year

【Ferro-alloys.com】According to data from the American Tool Association (USCTI) and AMT (Association of Manufacturing Technology), the total consumption of tools in the United States in May 2021 was US$160.7 million. According to reports from companies participating in the cutting tool market report cooperation, this total is down 5.5% from the US$170 million in April and an increase of 24.6% from the US$129 million reported in May 2020. The year-to-date total is US$802.6 million, a decrease of 1.5% in 2021 compared to May 2020.

These figures and all data in this report are based on the total number reported by companies participating in the CTMR program. The total here represents the majority of the American cutting tool market.

Brad Lawton, Chairman of AMT Tool Products Group, said: “In March, the desire of the tool industry is that sales will continue to advance to the level before the epidemic. However, due to supply chain issues, industry sales slowed down in May from the previous month, and in March due to distributors’ quarterly replenishment. Despite these conditions, the cutting tool industry is still ready to respond to US manufacturing customers."

Alan Richter, Special Editor of "Cutting Tool Engineering" commented: "The cutting tool industry has not yet come out of the predicament. The consumption of cutting tools in the United States in May 2021 was the fourth highest since April 2020, a year-on-year increase of 24.6%, indicating that the industry It is approaching the level before the epidemic. Parts manufacturers continue to face a seemingly endless skills gap, but the company is overcoming this challenge through the intelligent integration of automated equipment."

The tool market report is jointly prepared by AMT and USCTI. These two industry associations represent the development, production and distribution of tool technology and products. It provides a monthly report of the main consumable consumed by American manufacturers in the manufacturing process-cutting tools. Tool consumption analysis is an indicator of the improvement and downturn in US manufacturing activities because it is a true measure of actual production levels. 

  • [Editor:zhaozihao]

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