Latest Report Update: Jul 4, 2020

U.S. Cutting Tool And Machine Tool Accessories Market. Analysis And Forecast to 2025
Update: COVID-19 Impact

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U.S.: Cutting Tool Market Overview 2020

Cutting Tool Market Size in the U.S.

The U.S. cutting tool market surged to $X in 2019, increasing by X% against the previous year. In general, consumption enjoyed a significant increase. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Cutting Tool Production in the U.S.

In value terms, cutting tool production reached $X in 2019. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% year-to-year. As a result, production attained the peak level of $X. From 2015 to 2019, production growth remained at a lower figure.

Cutting Tool Exports

Exports from the U.S.

In 2019, overseas shipments of cutting tool and machine tool accessories increased by X% to X units, rising for the third year in a row after two years of decline. In general, exports recorded prominent growth. As a result, exports attained the peak and are likely to continue growth in the immediate term.

In value terms, cutting tool exports shrank to $X in 2019. Overall, exports showed a mild descent. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. Exports peaked at $X in 2014; however, from 2015 to 2019, exports stood at a somewhat lower figure.

Exports by Country

Canada (X units), Mexico (X units) and Germany (X units) were the main destinations of cutting tool exports from the U.S., with a combined X% share of total exports. China, the Netherlands, the UK, Ireland, Israel, India, Singapore, Japan and South Korea lagged somewhat behind, together comprising a further X 2013 to 2019, the biggest increases were in Ireland (+X% per year), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for cutting tool exported from the U.S. were Canada ($X), Mexico ($X) and Germany ($X), together accounting for X% of total exports. The Netherlands, China, the UK, Japan, Singapore, India, Israel, South Korea and Ireland lagged somewhat behind, together accounting for a further X the main countries of destination, India saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average cutting tool export price stood at $X per unit in 2019, dropping by -X% against the previous year. Overall, the export price showed a deep downturn. The pace of growth appeared the most rapid in 2015 when the average export price increased by X% y-o-y. As a result, export price reached the peak level of $X per unit. From 2016 to 2019, the growth in terms of the average export prices failed to regain the momentum.

There were significant differences in the average prices for the major foreign markets. In 2019, the country with the highest price was Japan ($X per unit), while the average price for exports to Ireland ($X per unit) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was recorded for supplies to Germany, while the prices for the other major destinations experienced mixed trend patterns.

Cutting Tool Imports

Imports into the U.S.

In 2019, approx. X units of cutting tool and machine tool accessories were imported into the U.S.; increasing by X% compared with 2018. In general, imports continue to indicate a significant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, cutting tool imports totaled $X in 2019. The total import value increased at an average annual rate of +X% from 2013 to 2019; however, the trend pattern remained relatively stable, with somewhat noticeable fluctuations being observed in certain years. The most prominent rate of growth was recorded in 2014 when imports increased by X% against the previous year. Imports peaked in 2019 and are likely to see gradual growth in the immediate term.

Imports by Country

In 2019, China (X units) constituted the largest supplier of cutting tool to the U.S., accounting for a X% share of total imports. Moreover, cutting tool imports from China exceeded the figures recorded by the second-largest supplier, Taiwan, Chinese (X units), twofold. The third position in this ranking was occupied by Germany (X units), with a X% share.

From 2013 to 2019, the average annual growth rate of volume from China stood at +X%. The remaining supplying countries recorded the following average annual rates of imports growth: Taiwan, Chinese (+X% per year) and Germany (+X% per year).

In value terms, Germany ($X), China ($X) and Japan ($X) constituted the largest cutting tool suppliers to the U.S., together accounting for X% of total imports. Taiwan, Chinese and Italy lagged somewhat behind, together comprising a further X, Chinese recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average cutting tool import price stood at $X per unit in 2019, waning by -X% against the previous year. In general, the import price showed a dramatic setback. The pace of growth was the most pronounced in 2016 when the average import price increased by X% y-o-y. As a result, import price attained the peak level of $X per unit. From 2017 to 2019, the growth in terms of the average import prices remained at a lower figure.

Prices varied noticeably by the country of origin; the country with the highest price was Japan ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2013 to 2019, the most notable rate of growth in terms of prices was attained by Japan, while the prices for the other major suppliers experienced a decline.

Source: IndexBox AI Platform

Frequently Asked Questions (FAQ) :

What are the leading suppliers of cutting tool and machine tool accessories to the U.S.?
+
In value terms, the largest cutting tool suppliers to the U.S. were Germany ($579M), China ($404M) and Japan ($371M), with a combined 47% share of total imports. Taiwan, Chinese and Italy lagged somewhat behind, together accounting for a further 12%.
What are the leading importers of cutting tool and machine tool accessories from the U.S.?
+
In value terms, the largest markets for cutting tool exported from the U.S. were Canada ($297M), Mexico ($279M) and Germany ($120M), with a combined 58% share of total exports. These countries were followed by the Netherlands, China, the UK, Japan, Singapore, India, Israel, South Korea and Ireland, which together accounted for a further 27%.
What is the average export price for cutting tool and machine tool accessories in the U.S.?
+
In 2019, the average cutting tool export price amounted to $49 per unit, dropping by -55.7% against the previous year.
What is the average import price for cutting tool and machine tool accessories in the U.S.?
+
In 2019, the average cutting tool import price amounted to $5.2 per unit, reducing by -83.2% against the previous year.

Product coverage:
• NAICS 333515 - Cutting tool and machine tool accessory manufacturing

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 2025.


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:
• USA

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. INTRODUCTION

Making Data-Driven Decisions to Grow Your Business

1.1
REPORT DESCRIPTION
1.2
RESEARCH METHODOLOGY AND AI PLATFORM
1.3
DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
1.4
GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY

A Quick Overview of Market Performance

2.1
KEY FINDINGS
2.2
MARKET TRENDS
3. MARKET OVERVIEW

Understanding the Current State of The Market and Its Prospects

3.1
MARKET SIZE
3.2
MARKET STRUCTURE
3.3
TRADE BALANCE
3.4
PER CAPITA CONSUMPTION
3.5
MARKET FORECAST TO 2030
4. MOST PROMISING PRODUCTS

Finding New Products to Diversify Your Business

4.1
TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
4.2
BEST-SELLING PRODUCTS
4.3
MOST CONSUMED PRODUCT
4.4
MOST TRADED PRODUCT
4.5
MOST PROFITABLE PRODUCT FOR EXPORT
5. MOST PROMISING SUPPLYING COUNTRIES

Choosing the Best Countries to Establish Your Sustainable Supply Chain

5.1
TOP COUNTRIES TO SOURCE YOUR PRODUCT
5.2
TOP PRODUCING COUNTRIES
5.3
TOP EXPORTING COUNTRIES
5.4
LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS

Choosing the Best Countries to Boost Your Exports

6.1
TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
6.2
TOP CONSUMING MARKETS
6.3
UNSATURATED MARKETS
6.4
TOP IMPORTING MARKETS
6.5
MOST PROFITABLE MARKETS
7. PRODUCTION

The Latest Trends and Insights into The Industry

7.1
PRODUCTION VOLUME AND VALUE
8. IMPORTS

The Largest Import Supplying Countries

8.1
IMPORTS FROM 2013–2019
8.2
IMPORTS BY COUNTRY
8.3
IMPORT PRICES BY COUNTRY
9. EXPORTS

The Largest Destinations for Exports

9.1
EXPORTS FROM 2013–2019
9.2
EXPORTS BY COUNTRY
9.3
EXPORT PRICES BY COUNTRY
10. PROFILES OF MAJOR PRODUCERS

The Largest Producers on The Market and Their Profiles

LIST OF TABLES
Table 1:
Key Findings In 2019
Table 2:
Market Volume, In Physical Terms, 2013–2019
Table 3:
Market Value, 2013–2019
Table 4:
Per Capita Consumption In 2013–2019
Table 5:
Imports, In Physical Terms, By Country, 2013–2019
Table 6:
Imports, In Value Terms, By Country, 2013–2019
Table 7:
Import Prices, By Country Of Origin, 2013–2019
Table 8:
Exports, In Physical Terms, By Country, 2013–2019
Table 9:
Exports, In Value Terms, By Country, 2013–2019
Table 10:
Export Prices, By Country Of Destination, 2013–2019
LIST OF FIGURES
Figure 1:
Market Volume, In Physical Terms, 2013–2019
Figure 2:
Market Value, 2013–2019
Figure 3:
Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2013–2019
Figure 4:
Market Structure – Domestic Supply vs. Imports, In Value Terms, 2013–2019
Figure 5:
Trade Balance, In Physical Terms, 2013–2019
Figure 6:
Trade Balance, In Value Terms, 2013–2019
Figure 7:
Per Capita Consumption, 2013–2019
Figure 8:
Market Forecast To 2025
Figure 9:
Products: Market Size And Growth, By Type
Figure 10:
Products: Average Per Capita Consumption, By Type
Figure 11:
Products: Exports And Growth, By Type
Figure 12:
Products: Export Prices And Growth, By Type
Figure 13:
Production Volume And Growth
Figure 14:
Exports And Growth
Figure 15:
Export Prices And Growth
Figure 16:
Market Size And Growth
Figure 17:
Per Capita Consumption
Figure 18:
Imports And Growth
Figure 19:
Import Prices
Figure 20:
Production, In Physical Terms, 2013–2019
Figure 21:
Production, In Value Terms, 2013–2019
Figure 22:
Imports, In Physical Terms, 2013–2019
Figure 23:
Imports, In Value Terms, 2013–2019
Figure 24:
Imports, In Physical Terms, By Country, 2019
Figure 25:
Imports, In Physical Terms, By Country, 2013–2019
Figure 26:
Imports, In Value Terms, By Country, 2013–2019
Figure 27:
Import Prices, By Country Of Origin, 2013–2019
Figure 28:
Exports, In Physical Terms, 2013–2019
Figure 29:
Exports, In Value Terms, 2013–2019
Figure 30:
Exports, In Physical Terms, By Country, 2019
Figure 31:
Exports, In Physical Terms, By Country, 2013–2019
Figure 32:
Exports, In Value Terms, By Country, 2013–2019
Figure 33:
Export Prices, By Country Of Destination, 2013–2019

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