ILMA Compoundings September 2017 - 32
* Rig counts are going up in the
oil patch.
* Automotive and aerospace should
continue to maintain their strength.
* Boeing and Airbus have a strong
backlog looking out five years.
* Automotive appears to be stabilizing at a high level.
* There is a rebound in energy with a
pro-manufacturing administration.
There's another potential positive
impact on the horizon: The power of
big data.
BIG POSSIBILITIES OF BIG DATA
In addition to the economic factors
listed earlier, Stokey also pointed to
"big data" as a factor that will keep
manufacturers on the upswing.
"Manufacturers are embracing the
ability to gather data," he said. "As they
get their arms around the information,
it will allow them to have leaner, smarter manufacturing facilities that will
optimize the demand for everything
used in the manufacturing process."
While noting that some might think
this data would reduce demand for
cutting tools, Stokey expressed a different view. "If companies can increase
productivity, they can pay their people
more, which puts more money in people's pockets, which allows them to go
purchase items that starts the demand
for more of our products over again."
Big data, artificial intelligence and
the internet of things (IoT) will also
result in cutting tools getting "smarter." Through sensors and feedback
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32
SEPTEMBER 2017
| COMPOUNDINGS | ILMA.ORG
"Big data, artificial intelligence and the internet of
things will also result in cutting tools getting 'smarter.'"
from data to devices, machine learning
will occur. These are developments
that will present both challenges and
opportunities for the industry.
A SALES PERSPECTIVE
A sales engineer in the metalworking
fluid industry also reports "strong
growth" in the market for 2017.
"We attribute this growth to an
increased demand for our products and
services, especially for our line of micro
emulsion chemistries," said Denise
Brauer of Cutting & Grinding Fluids
Inc. (CGF), based in Rockford, Illinois.
http://www.clmt.com
http://www.ILMA.ORG
ILMA Compoundings September 2017
Table of Contents for the Digital Edition of ILMA Compoundings September 2017
ILMA Compoundings September 2017 - Cover1
ILMA Compoundings September 2017 - Cover2
ILMA Compoundings September 2017 - 1
ILMA Compoundings September 2017 - 2
ILMA Compoundings September 2017 - 3
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ILMA Compoundings September 2017 - Cover3
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