U.S. Cutting Tool And Machine Tool Accessories Market. Analysis And Forecast to 2030
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View PricingCutting Tool Prices in the United States
U.S. Cutting Tool Import Price per Ton in August 2022
In August 2022, the cutting tool price per ton stood at $62.4K (CIF, US), dropping by -4.3% against the previous month. Overall, the import price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in June 2022 when the average import price increased by 2.9% month-to-month. As a result, import price reached the peak level of $65.7K per ton. From July 2022 to August 2022, the average import prices failed to regain momentum.
There were significant differences in the average prices amongst the major supplying countries. In August 2022, the country with the highest price was Israel ($115.0K per ton), while the price for Vietnam ($46.8K per ton) was amongst the lowest.
From January 2022 to August 2022, the most notable rate of growth in terms of prices was attained by India (+2.8%), while the prices for the other major suppliers experienced more modest paces of growth.
U.S. Cutting Tool Imports
In August 2022, supplies from abroad of cutting tool and machine tool accessories increased by 12% to 4.5K tons for the first time since May 2022, thus ending a two-month declining trend. The total import volume increased at an average monthly rate of +2.7% over the period from January 2022 to August 2022; the trend pattern remained consistent, with only minor fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in March 2022 when imports increased by 17% against the previous month. Imports peaked in August 2022.
In value terms, cutting tool imports expanded rapidly to $279M (IndexBox estimates) in August 2022. The total import value increased at an average monthly rate of +2.5% over the period from January 2022 to August 2022; the trend pattern remained relatively stable, with only minor fluctuations throughout the analyzed period. The growth pace was the most rapid in March 2022 with an increase of 18% against the previous month. As a result, imports reached the peak of $288M. From April 2022 to August 2022, the growth of imports failed to regain momentum.
U.S. Cutting Tool Imports by Country
Taiwan (Chinese) (1.2K tons), Germany (810 tons) and China (588 tons) were the main suppliers of cutting tool imports to the United States, together accounting for 58% of total imports. Japan, Israel, South Korea, Canada, Switzerland, Italy, India, Vietnam, Mexico and the UK lagged somewhat behind, together accounting for a further 33%.
From January 2022 to August 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the UK (with a CAGR of +9.0%), while imports for the other leaders experienced more modest paces of growth.
In value terms, the largest cutting tool suppliers to the United States were Taiwan (Chinese) ($57M), Germany ($48M) and China ($29M), together comprising 48% of total imports. These countries were followed by Japan, Israel, South Korea, India, Canada, Switzerland, Italy, Mexico, Vietnam and the UK, which together accounted for a further 39%.
Among the main suppliers, the UK, with a CAGR of +8.2%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- 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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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In March 2023, Cutting Tool imports experienced the fastest growth rate, with a month-on-month increase of 35%. However, by November 2023, the value of cutting tool imports declined to $248M.
143
In June 2023, the price for Cutting Tools was $37,064 per ton (CIF, US), showing a decrease of -13.8% compared to the previous month.
159
In February 2023, imports of cutting tools decreased in terms of value to $237M.
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