According to a questionnaire survey launched by the North American Radiation Curing Association for its members, more than half of them believe that their business will be reduced or postponed; the industries that have been strongly negatively impacted include business printing, woodware, building materials, tourism, aviation and automobiles, and related In the industry, after the global automobile production exceeded 17 million vehicles for three consecutive years, it is expected to drop by 26.6% to 12.5 million vehicles in 2020. However, due to the impact of the COVID-19, the market has new demand for radiation curing products including: antibacterial UV coatings, sustainable disposable products, UVC LEDs; the light curing industry may usher in a new wave of growth.
According to data from the North American Radiation Curing Association, the growth rate of North American formulations in 2019 is estimated to be 3.7%, the growth rate in 2020 is expected to be 4.6%, and the growth rate in the next three years is expected to reach 5%.
