COVID-19 Impact on Pharmaceutical Packaging in Chemicals and Materials Industry

COVID-19 Impact on Compost Turning in Semiconductors and Electronics Industry

  • Semiconductors and Electronics
  • Apr 19, 2021

COVID-19 Impact on Compost Turning in Semiconductors and Electronics Industry

ANALYSIS ON IMPACT OF COVID-19 ON THE MARKET

The pandemic began with its epicenter in China in 2019 and has been steadily expanding since then to all over the world, so far 216 countries and territories have been affected with COVID-19, the U.S. being on the top with cases reaching to around 4.38 million led by Brazil, India and then by several European countries such as Russia, Spain, Italy and others. The COVID-19 cases reaching to the big named countries with strong dominance in the global market which has adversely affected the economy globally. The spread of coronavirus has led to the global recession, many companies are being bound to take stringent actions of laying of their employees, small business are being shut and manufacturing facilities are being put on hold. There has been a disruption in supply chain of many industries due to restriction in logistics and closing of manufacturing facilities. In addition, the slowdown in economy has lowered the spending capability of individuals and people are saving money for emergencies. The pandemic has impacted the growth of compost turning market and has noted a decrease in the demand due to lockdown and COVID-19 norms as many manufacturing, agriculture and construction sectors were closed due to lockdown and governmental norms due to which there is a reduction in the industrial waste which reduces the demand for compost turning machines. This COVID-19 shifted focus towards health and environmental concerns resulting to the need to deal with surplus produce throughout the food system, leaving many with a huge burden of on-farm waste. Directly, this will impact the use of compost turning.

IMPACT ON DEMAND AND SUPPLY CHAIN

The pandemic has brought a huge drop in sales for the compost turning market as the lockdown prevailed in most of the regions. The lockdown led to shutdown of manufacturing, agriculture and construction sectors. The lockdown led manufacturers and consumers to completely stop the processes for few months. The demand for compost turning market faced drastic downfall due to shut down of various manufacturing, agriculture and construction industry which reduces the industrial waste. However, the things are getting normal day-by-day, government is taking initiatives to unlock business step by step. Post COVID-19, the compost turning market may see an increased demand.

The pandemic also has a significant effect on the supply chain of compost turning facilities. Logistics and the transport of assets have degenerated a great deal. The supply chain has been adversely affected as the lockdown has occurred internationally in many countries and the government has reduced the workforce. The companies are doing business in accordance with government policies by requiring limited employees work in separate shifts. However, there is now an increase in the supply chain as most of the facilities and travel restrictions have opened and operated at the most optimal capacity.

LONG TERM STRATEGY ADOPTED BY MANUFACTURERS OR STEPS TAKEN

If the COVID-19 crisis begins to spread, it will be likely for creators to face problems on variety of fronts. Producing companies must seek urgent action to keep their employees safe and their businesses sound. Makers will have to be forced to look at their economic feasibility from the far side. If the COVID-19 pandemic intensifies, it is likely for manufacturers to face continued pressure on demand, productivity and revenues. They will face ongoing cash-flow liquidity problems and difficulties in managing debt obligations. The pandemic has boosted the growth of compost turning market. Thus, the manufacturers, developers and providers were focusing towards strategic decisions as partnerships, acquisitions, product launches, mergers and collaborations to meet the increasing demand in the COVID-19 outbreak.

For instance,

  • In January 2021, NCR Corporation announced acquisition of Freshop. Through this acquisition, the company is planning to add e-commerce to their retail core point-of-sale platform. This integration will give retailers the ability to deploy buy-online and pickup in store capabilities to serve their customer’s needs. This will help the company to enhance their offerings and to better meet consumer’s demand.
  • In September 2020, NCR Corporation collaborated with Microsoft to power NCR Digital Connected Services (DCS). Under this collaboration, NCR’s Digital Connected Services Internet of Things (IoT) management software will run on Azure IoT AI technology. Through this, NCR’s retail, restaurant and banking customers will gain IoT monitoring and managed services solution. This has helped the company to enhance their offerings and to better meet consumers changing demand.
  • In April 2020, China government introduced digital currency, digital yuan in four cities to become the world’s first cashless society. The digital yuan is a currency as normal cash but in the form of code in a digital wallet backed by the People’s Bank of China. This urges the retailers to adopt digital payment options and thus impacts the compost turning market.

CONCLUSION

From the above analysis, it is evident that the compost turning market is observing a huge downfall and low demand due to the COVID-19 governmental social norms as shutdown of facilities. Post COVID-19, when facilities reopen, we will found slightly increase in the demand amongst the customers. Manufacturers were focusing towards partnerships and collaborations to meet the losses in the COVID-19 outbreak. Organizations operating under this market need to build up new strategies to boost the compost turning market growth.