Cutting Tool Industry Looks Forward to Growth in 2015

Recent reports from the cutting tool industry predict strong sales and growth going into the rest of 2015 for the market as a whole. Financial forecasts for the U.S. cutting tool industry are strong according to a recent report from the United States Cutting Tool Institute (USCTI). According to sales estimates for 2015, cutting tool manufacturers and distributors have reason to be optimistic about the future. Results of a survey of USCTI members show that 23% more industry members are positive about the sales growth in 2015 versus last year and expect the trend to continue into the coming year. This is great news for both cutting tool manufacturers and distributors. Record sales result in additional profits and job growth which boost the industry overall and help sustain market growth. Industry sales revenues were up over 30% from last year and sales revenue forecasts for this coming year are estimated 10% higher. What does this mean for manufacturers and distributors? The optimistic sales forecasts for 2015 are great news for both manufacturers and distributors of cutting tools. As customer demand increases, additional cutting tools will be needed. Distributors have a better opportunity to move new product while continuing to liquidate [...]