May 2023 U.S. cutting tool consumption totaled $210.6 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 10.8% from April’s $190 million and up 20% when compared with the $175.5 million reported for May 2022. With a year-to-date total of $1 billion, 2023 is up 16.1% when compared to the same time period in 2022.
