Impact of Coronavirus (Covid-19) Pandemic on the Advanced Materials Industry

As COVID-19 continues to spread swiftly around the world, it is impacting the global economy and leading to socio-economic disruptions. Operating large and complex supply chains in advanced materials industry is becoming one of the key challenges for companies in their normal trade. This is contemplated as a key reason for severe economic repercussions owing to their global footprint. In order to overcome the shortcomings, companies have changed the course of their strategy and are producing advanced materials essential in manufacturing Personal Protective Equipment (PPE) and ventilators such as Polyacetal (POM), Polyether ether ketone (PEEK), Polyetherimide (PEI), Polyphenylsulfone (PPSU), and Thermoplastic polyester (PBT) among others. Celanese Corporation has increased the production of materials like Polyacetal (POM), Thermoplastic polyester (PBT), Liquid Crystal Polymers (LCP), etc. in order to support PPE & medical equipment manufacturers. Also, Solvay S.A. has partnered with Boeing and is supplying high-performance medical grade PPSU and PSU films for manufacturing protective equipment for medical professionals. According to Coherent Market Insights, inadequate supply of raw materials will lead to fluctuation in the prices per ton of advanced materials, reflecting upward trend in the short run – till September 2020.