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U.S. Cutting Tool And Machine Tool Accessories Market. Analysis And Forecast to 2030
Report Update: Jun 1, 2025

U.S. Cutting Tool And Machine Tool Accessories Market. Analysis And Forecast to 2030

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Jan 23, 2024

Import of Cutting Tools in November 2023 Plummeted to $248M in the United States

U.S. Cutting Tool Imports

In November 2023, the amount of cutting tool and machine tool accessories imported into the United States expanded to 7.1K tons, surging by 4.3% on October 2023. Overall, imports, however, showed a mild decrease. The growth pace was the most rapid in March 2023 when imports increased by 35% m-o-m.

In value terms, cutting tool imports declined to $248M (IndexBox estimates) in November 2023. In general, imports, however, continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2023 when imports increased by 18% against the previous month.U.S. Cutting Tool Imports By Country (Million USD)

COUNTRYImport Value of Cutting Tool in U.S. (million USD)
Nov 2022Dec 2022Jan 2023Feb 2023Mar 2023Apr 2023May 2023Jun 2023Jul 2023Aug 2023Sep 2023Oct 2023Nov 2023
Germany47.952.348.250.958.654.856.951.058.657.251.353.452.4
Japan29.131.629.029.631.230.529.929.931.928.027.429.229.2
Taiwan (Chinese)29.531.630.424.325.831.133.328.135.336.322.625.725.8
China21.420.622.116.720.520.121.619.828.625.927.323.418.3
Vietnam2.73.64.62.91.83.23.83.45.47.27.67.07.1
Others120113121112141124138133122121120128115
Total251253255237279263283265282275257267248

Imports by Country

In November 2023, Taiwan (Chinese) (3.5K tons) constituted the largest cutting tool supplier to the United States, with a 49% share of total imports. Moreover, cutting tool imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Vietnam (1.4K tons), twofold. The third position in this ranking was taken by China (1.1K tons), with a 15% share.

From November 2022 to November 2023, the average monthly rate of growth in terms of volume from Taiwan (Chinese) stood at -3.6%. The remaining supplying countries recorded the following average monthly rates of imports growth: Vietnam (+5.4% per month) and China (-2.3% per month).

In value terms, the largest cutting tool suppliers to the United States were Germany ($52M), Japan ($29M) and Taiwan (Chinese) ($26M), together accounting for 43% of total imports. China and Vietnam lagged somewhat behind, together accounting for a further 10%.

Vietnam, with a CAGR of +8.3%, recorded the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In November 2023, the cutting tool price amounted to $34,935 per ton (CIF, US), shrinking by -10.9% against the previous month. Over the period under review, import price indicated a modest increase from November 2022 to November 2023: its price increased at an average monthly rate of +1.6% over the last twelve-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2023 figures, cutting tool import price decreased by -11.6% against September 2023 indices. The growth pace was the most rapid in January 2023 an increase of 134% against the previous month. Over the period under review, average import prices attained the maximum at $53,807 per ton in February 2023; however, from March 2023 to November 2023, import prices stood at a somewhat lower figure.

Prices varied noticeably by the country of origin: the country with the highest price was Japan ($159K per ton), while the price for Vietnam ($4,902 per ton) was amongst the lowest.

From November 2022 to November 2023, the most notable rate of growth in terms of prices was attained by Vietnam (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the cutting tool market in the U.S.. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

Product coverage:

  • NAICS 333515 - Cutting tool and machine tool accessory manufacturing

Companies mentioned:

  • Kennametal
  • Coorstek
  • Allied Machine & Engineering Corporation
  • Varel International Ind
  • Veridiam
  • Diamond Products
  • Fori Automation
  • Guhring
  • Greenleaf Corporation
  • SGS Tool Company
  • Walter Usa
  • Covert Manufacturing
  • Prince Industries
  • Multicam
  • Cwb Holding Co. of Loves Park
  • Precision Dormer
  • Brinkman International Group
  • Star Cutter Co.
  • Greenfield Industries
  • Ingersoll Cutting Tool Company
  • Abrasive-Tool Corp.
  • Global Tooling Systems
  • Triumph Twist Drill Co
  • Viking Drill & Tool
  • Seco Holding Co
  • Schenck Corporation
  • Precision Twist Drill Co.
  • Axxess Technologies
  • DH Holdings Corp.
  • Heidenhain Holding
  • Zyvex Corporation
  • Carl Zeiss Industrial Metrology
  • Kyocera Precision Tools

Country coverage:

  • United States

Data coverage:

  • Market volume and value
  • Per Capita consumption
  • Forecast of the market dynamics in the medium term
  • Trade (exports and imports) in the U.S.
  • Export and import prices
  • Market trends, drivers and restraints
  • Key market players and their profiles

Reasons to buy this report:

  • Take advantage of the latest data
  • Find deeper insights into current market developments
  • Discover vital success factors affecting the market

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

  1. How to diversify your business and benefit from new market opportunities
  2. How to load your idle production capacity
  3. How to boost your sales on overseas markets
  4. How to increase your profit margins
  5. How to make your supply chain more sustainable
  6. How to reduce your production and supply chain costs
  7. How to outsource production to other countries
  8. How to prepare your business for global expansion

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

  1. 1. INTRODUCTION

    Making Data-Driven Decisions to Grow Your Business

    1. REPORT DESCRIPTION
    2. RESEARCH METHODOLOGY AND THE AI PLATFORM
    3. DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
    4. GLOSSARY AND SPECIFIC TERMS

  2. 2. EXECUTIVE SUMMARY

    A Quick Overview of Market Performance

    1. KEY FINDINGS
    2. MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO

  3. 3. MARKET OVERVIEW

    Understanding the Current State of The Market and its Prospects

    1. MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    3. TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    4. PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    5. MARKET FORECAST TO 2035

  4. 4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION

    Finding New Products to Diversify Your Business

    1. TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
    2. BEST-SELLING PRODUCTS
    3. MOST CONSUMED PRODUCTS
    4. MOST TRADED PRODUCTS
    5. MOST PROFITABLE PRODUCTS FOR EXPORTS

  5. 5. MOST PROMISING SUPPLYING COUNTRIES

    Choosing the Best Countries to Establish Your Sustainable Supply Chain

    1. TOP COUNTRIES TO SOURCE YOUR PRODUCT
    2. TOP PRODUCING COUNTRIES
    3. TOP EXPORTING COUNTRIES
    4. LOW-COST EXPORTING COUNTRIES

  6. 6. MOST PROMISING OVERSEAS MARKETS

    Choosing the Best Countries to Boost Your Export

    1. TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
    2. TOP CONSUMING MARKETS
    3. UNSATURATED MARKETS
    4. TOP IMPORTING MARKETS
    5. MOST PROFITABLE MARKETS

  7. 7. PRODUCTION

    The Latest Trends and Insights into The Industry

    1. PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)

  8. 8. IMPORTS

    The Largest Import Supplying Countries

    1. IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  9. 9. EXPORTS

    The Largest Destinations for Exports

    1. EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
    2. EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
    3. EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)

  10. 10. PROFILES OF MAJOR PRODUCERS

    The Largest Producers on The Market and Their Profiles

  11. LIST OF TABLES

    1. Key Findings In 2024
    2. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Imports, In Physical Terms, By Country, 2012–2024
    6. Imports, In Value Terms, By Country, 2012–2024
    7. Import Prices, By Country, 2012–2024
    8. Exports, In Physical Terms, By Country, 2012–2024
    9. Exports, In Value Terms, By Country, 2012–2024
    10. Export Prices, By Country, 2012–2024

  12. LIST OF FIGURES

    1. Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    2. Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
    3. Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    4. Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    5. Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    6. Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    7. Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
    8. Market Volume Forecast to 2035
    9. Market Value Forecast to 2035
    10. Market Size and Growth, By Product
    11. Average Per Capita Consumption, By Product
    12. Exports and Growth, By Product
    13. Export Prices and Growth, By Product
    14. Production Volume and Growth
    15. Exports and Growth
    16. Export Prices and Growth
    17. Market Size and Growth
    18. Per Capita Consumption
    19. Imports and Growth
    20. Import Prices
    21. Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    22. Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    23. Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    24. Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    25. Imports, In Physical Terms, By Country, 2024
    26. Imports, In Physical Terms, By Country, 2012–2024
    27. Imports, In Value Terms, By Country, 2012–2024
    28. Import Prices, By Country, 2012–2024
    29. Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    30. Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
    31. Exports, In Physical Terms, By Country, 2024
    32. Exports, In Physical Terms, By Country, 2012–2024
    33. Exports, In Value Terms, By Country, 2012–2024
    34. Export Prices, By Country, 2012–2024

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