During the past month alone, about 22 million people in the U.S. have filed for unemployment. It’s an absolutely staggering number. Sectors such as industrial manufacturing and construction (particularly large-scale commercial projects) have been particularly hard hit.
Roughly one-third (34%) of manufacturers in our latest survey expect their business’ recovery to take three months or less, while 37% expect it to take four to six months.
To date, three surveys have been conducted by Clear Seas Research to discover how manufacturers view their current business and future outlook in light of the COVID-19 pandemic.
The global ramifications of COVID-19, in terms of both our physical and economic well-being, are daunting. Some regions have been quite successful in avoiding widespread losses, others are beginning to see cases decline and are returning somewhat to normalcy, and still others have yet to see the worst.
Adhesives and sealants companies are facing major challenges on a number of fronts due to the COVID-19 pandemic, but they can take steps to navigate through the crisis.
The broad economic effect of the coronavirus is not yet known, and it might not be fully realized for quite some time. What does this mean for adhesives and sealants companies?
Some companies are rallying their workforce to increase production of existing products, while others are retooling their facilities to produce entirely new materials that are sorely needed.
Though the circumstances surrounding COVID-19 are horrible, I find it gratifying to see the drive, determination, and oftentimes ingenuity that these companies are displaying for the good of us all.
I profoundly hope that you are reading this issue of ASI in good health and from the safety of your own home. The last few weeks have seen an unprecedented global response to the threat of COVID-19—from school, restaurant, and facility closings to innumerable event postponements and cancellations.