by The synthetic spider silk market is estimated to be valued at US$ 1212.68 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Synthetic spider silk refers to artificially produced spider silk fiber through genetic engineering methods. It mimics mechanical properties of natural spider silk such as high tensile strength, flexibility and abrasion resistance. The synthetic spider silk has applications in textiles, biomedicine, filtration systems and sports equipments due to its ultra-light weight and durability properties.
Market Dynamics:
Growing demand for high performance fibers from different end use industries is a key driver propelling the growth of synthetic spider silk market. Spider silk is five times stronger than steel for an equivalent weight and has wide application in bulletproof vests, aircraft parachute cords, tendons replaces in surgeries etc. Further, increasing R&D activities for development of genetically modified microbial systems for large scale and cost effective production of synthetic spider silk proteins is also fueling the market growth. However, high production cost and complex genetic engineering process involved in production of synthetic spider silk remains a challenge for widespread adoption.
Segment Analysis
Synthetic spider silk market is dominated by the apparel sub-segment owing to properties like light-weight, breathability, and biodegradability. Synthetic spider silk fibers offer advantages like better elasticity and tensile strength compared to cotton or nylon. Major apparel brands are exploring synthetic spider silk yarn to manufacture athletic wear, shirts, jackets etc. that offer comfort during strenuous activities.
PEST Analysis
Political: No special regulations exist currently for production and sale of synthetic spider silks. Governments provide funding for R&D to develop viable and eco-friendly production processes.
Economic: Declining costs of production technologies and growing textile industry offer huge market opportunities. Synthetic spider silks can become a substitute for carbon-intensive fibers.
Social: Rising consumer demand for sustainable, biodegradable fabrics is driving the market. Environmental concerns boost demand for spider silks known for their eco-friendly attributes.
Technological: Advancements in fermentation and genetic engineering now allow mass-production of synthetic spider silks. Continuous innovation helps produce fibers with improved properties.
Key Takeaways
The global Synthetic Spider Silk Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing consumer demand for eco-friendly and sustainable fabrics. The Asia Pacific region dominated with over 35% market share in 2023 led by large textile industries in China and India rapidly adopting synthetic spider silk yarns.
Regional analysis: North America and Europe are other major consumers while regions like Latin America and Middle East & Africa offer emerging opportunities. The Asia Pacific region is projected to maintain its dominance during the forecast period with presence of manufacturer.
Key players: Key players operating in the synthetic spider silk market are Kraig Biocraft Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft and Spiber are pioneering the commercial production of synthetic spider silk fibers through fermentation. Bolt Threads uses genetically engineered yeast to produce spider silk proteins at large scale.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemicals and materials, defense and aerospace, consumer goods, etc.
