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COVID-19 has disrupted many sectors, including the materials industry. Since the new year began, the demand for engineering materials, such as steel, aluminium, copper and polymers, has drastically changed.
But how is the materials market performing now that we are slowly starting to see the light at the end of the tunnel?
On Wednesday June 3rd, materials search engine Matmatch will answer these questions with an online webinar that includes insights about demand trends for different materials since the crisis began. You can register for the webinar HERE.
From the first European lockdown in Italy on March 9 to the restrictive measure of worldwide governments, many sectors, including manufacturing, construction and engineering, had to suddenly reduce or even stop their activities. This unpredictable stop consequently had a repercussion on the materials industry, which saw a noticeable drop in demand from the beginning of March.
According to Matmatch’s statistics, steel, aluminium and copper are among the materials that experienced the most significant change in demand so far, particularly from March 8th to April 11th.
In those five weeks, the industry saw double-figure drops in demand, whereas before the virus’s spread, an increase was expected. However, some materials (including thermoplastics and polyamides) actually saw an increase in demand on the platform, in particular for usage in medical applications.
“COVID-19 changed everything, including how materials companies are able to reach potential customers. With trade shows cancelled across the board, travel on hold and social distancing measures in place, industries had to embrace new approaches to sales and marketing” said Ben Smye, head of growth at Matmatch.
“From the statistics we collected, we realised that despite the initial drop, the demand for materials is slowly on the rise again as lockdown measures are eased. However, now more than ever, it’s vital that we all learn from the crisis and we don’t stop the digital transformation of the materials supply industry.
“This webinar allows us to provide specific insights from Matmatch data about what has happened during the COVID-19 crisis, but also to look ahead to the future and the transition to digital business models. Finding materials and suppliers online can make production processes easier, faster and more affordable than traditional methods, and we’re seeing the industry increasingly embrace this notion.”
Matmatch’s online materials database contains thousands of materials. Engineers and product designers can use the platform to learn more about the characteristics and properties of specific materials and find the best supplier with a click. If they have any questions about a product, one of Matmatch’s experts will get back with more information.
