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Impact of Covid-19 on Biodegradable Polymer Composites Market

 

Biodegradable Polymer Composites Market: Introduction

 

·         Demand for bio-composite systems has been rising since the last few years due to their potential as a substitute of conventional materials produced in various manufacturing industries. Biocompatible and biodegradable polymer composites play an important role as alternatives for petrochemical-based renewable products.

·         Many market players have achieved the successful production of eco-friendly bio-composite materials with natural fibers such as jute, bamboo, hair, flex, wool, and silk. Biomaterials based on natural fibers dispersed in natural matrix such as natural rubber or polyester have also been obtained with applications in various end-use industries. Mechanical properties of bio-composites make them superior to many other conventional materials.

Key Drivers of Biodegradable Polymer Composites Market

 

·         Rise in usage of biodegradable polymer composites in the automotive & transportation industry is expected to boost the market during the forecast period. Biodegradable polymer composites are extensively in the manufacture of automotive parts. Injected automotive parts such as fuel pipes and under-the-hood parts are made using bio-based polymers such as polyamides. Polycarbonates and biodegradable composites are being used for producing decorative parts using wood, flax, and hemp. Textile fibers used for decoration of seats and door panels are made of bio-based polyethylene terephthalate (PET), polylactic acid (PLA) or Sorona fiber (PTT). Flexible foams for seats are also being made from bio-based polyurethane (PUR). Thus, rise in adoption of biodegradable polymer composites in the automotive &transportation sector is driving the biodegradable polymer composites market.

·         Excellent properties of biodegradable polymer composites are driving their adoption in various applications. Biodegradable polymer composites have significant potential in the industrial sector due to their biodegradability and other enhanced mechanical properties. Production of composites can be carried out by combining two or more chemically different materials or phases, such as polymers in an orderly manner or merely by mixing. These composites possess excellent properties such as rapid processability; high resistance to impact and delamination, abrasion, and chemicals; and low absorption of moisture. These properties are boosting the usage of biodegradable polymer composites in various end-use industries, thereby driving the market.

Restraints of Biodegradable Polymer Composites Market

 

·         Dearth of universal directives pertaining to applications of biodegradable polymer composites is expected to restrain the market during the forecast period. Every country has different directives pertaining to applications of biodegradable polymer composites. Companies find it difficult to deal with these country-wise regulations. This is discouraging investment in biodegradable polymer composites market, thereby hampering the market.

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COVID-19 impact on Biodegradable Polymer Composites Market

 

·         The COVID-19 outbreak is hampering the demand for biodegradable polymer composites in many applications. Governments of various countries across the globe enforced stringent lockdowns to curb the spread of the coronavirus. This led to a slowdown in manufacturing operations and restrictions on supply and transport, thus affecting the biodegradable polymer composites market.

·         Key players operating in the biodegradable polymer composites market are primarily tier I and tier II manufacturers and suppliers. Manufacture and supply chain facilities of these players are spread across various countries in Asia Pacific, Europe, North America, Latin America, and Middle East & Africa. Many of these players have halted their production output over the last few months due to the COVID-19 pandemic. The pandemic has negatively impacted the demand and supply chain of biodegradable polymer composites.

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North America Expected to Hold Leading Share of Global Biodegradable Polymer Composites Market

 

·         In terms of region, the global biodegradable polymer composites market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa

·         North America is expected to hold significant share of the global biodegradable polymer composites market during the forecast period owing to the rise in consumption of polylactic acid (PLA) and bio-based commodities in the region

·         The market in Asia Pacific is likely to expand at a rapid pace during the forecast period, due to the rise in industrialization and growth of the construction industry in countries such as China and India. Increase in adoption of biodegradable polymer composites in automotive and building & construction industries is anticipated to drive the market in in the region during the forecast period.

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Biodegradable Polymer Composites Market: Prominent Players

Major players operating in the global biodegradable polymer composites market are adopting various organic and inorganic growth strategies such as joint ventures, mergers & acquisitions, expansion, collaborations, new product launches, strategic alliances, and research and development to increase their regional presence and business operations. The market is currently witnessing fierce competition among several leading players. Key players operating in the market include:

·         Novamont S.p.A

·         Arkema S.A.

·         Dow Chemical Company

·         BASF SE

·         Mitsubishi Plastics Inc.

·         Corbion NV

·         Huntsman Corporation

·         Natureworks LLC

·         Toray Industries Inc

·         Solvay SA

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