I don't know much of Chemistry but I put the chemical structures of each. Thank you!
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The wikipedia does a good job of explaining the concept of biodegradation:
In practice, almost all chemical compounds and materials are subject to biodegradation processes. The significance, however, is in the relative rates of such processes, such as days, weeks, years or centuries.
Saying that something is "biodegradable" is not very informative unless you know what standard rate is being used to define something as "biodegradable".
Also, often people convolute the following two concepts when referring to something as biodegradable:
The two materials (chitin and latex) you want to combine are natural products (well, natural rubber latex is, latex need not be) and biodegradable according to the broad definition of the concept. However they degrade at different rates, with chitin degrading more quickly compared to natural rubber (see e.g. the references below).
Perhaps your question regards what kind of biodegradation rate can be expected for a composite prepared by combining chitin with natural rubber latex. This is difficult to answer generally as much depends on the microstructure of the composite, but I would expect exposed chitin to decay rather rapidly whereas the latex would decay at a much slower rate.
Karsten Rose and Alexander Steinbüchel. Biodegradation of Natural Rubber and Related Compounds: Recent Insights into a Hardly Understood Catabolic Capability of Microorganisms. Appl Environ Microbiol. 2005 Jun; 71(6): 2803–2812. doi: 10.1128/AEM.71.6.2803-2812.2005
Sara Beier and Stefan Bertilsson. Bacterial chitin degradation—mechanisms and ecophysiological strategies. Front Microbiol. 2013; 4: 149. doi: 10.3389/fmicb.2013.00149