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| Synthetic Spider Silk Market |
The Synthetic Spider Silk Market is estimated to be valued at US$ 1132.90 Mn in 2022 and is expected
to exhibit a CAGR of 7.01% over the
forecast period 2022-2030, as highlighted in a new report published by Coherent
Market Insights.
Market Overview:
Synthetic spider silk is a human-made fiber which mimics natural spider silk.
It exhibits unique properties such as high tensile strength, elasticity, and
resistance to degradation. It finds major application in textile, healthcare,
automotive and defense industries. In textile industry, synthetic spider silk
fibers are used to manufacture clothing, sportswear and outdoor apparel due its
lightweight and breathable nature. In biomedical sector, it is finding
increasing usage in sutures, artificial skin and tendons owing to its
biocompatibility.
Market Dynamics:
Increasing demand from textile industry: Synthetic spider silk fibers have
excellent mechanical properties, making them suitable for high-performance
textiles. Their lightweight nature and high strength make them suitable for
outdoor and athletic clothing. The growing textile industry worldwide is
expected to drive the demand for synthetic spider silk over the forecast
period.
Growing application in biomedical sector: Synthetic spider silk is increasingly
finding application in biomedical sector due to its biocompatibility and
hemocompatibility. It is used as sutures and artificial skin which exhibit
minimum inflammation and enhance healing. The rising healthcare expenditure and
growing medical requirements are fueling the demand for synthetic spider silk
in healthcare applications.
SWOT Analysis
Strength:
- Synthetic spider silk has similar properties to natural spider silk such as
strength, elasticity and light weight.This makes it suitable for various
industrial applications.
- Growing R&D activities to develop new production methods like microbial
fermentation is helping lower the cost of production.
- Increasing demand from textiles, biomedical and defense industries is driving
the growth of synthetic spider silk market.
Weakness:
- High costs involved in spinning synthetic spider silk into fibers at an
industrial scale.
- Difficulty in replicating intricate spinning process of spider silk through
human technologies.
Opportunity:
- Growing demand for lightweight and high-performance materials from automotive
and aerospace industries provides lucrative growth opportunities.
- Rising investments by governments and private players in developing specialty
fibers presents new avenues.
Threats:
- Stiff competition from low-cost substitute materials that can match
properties of spider silk.
- Stringent regulations pertaining to GMO products used in synthetic spider
silk production.
Key Takeaways
The global Synthetic
Spider Silk Market Share is expected to witness high growth, exhibiting
CAGR of 7.01% over the forecast
period, due to increasing demand for lightweight high-performance materials.
Regional analysis
North America dominated the global synthetic spider silk market in 2021 and is
expected to continue its dominance over the forecast period. This is attributed
to strong presence of producers and growing funding for R&D in the US. Asia
Pacific is anticipated to witness the fastest growth owing to increasing industrial
activities and rising investments by key players in developing economies of
China and India.
Key players
Key players operating in the synthetic spider silk market are Kraig Biocraft
Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft
Laboratories developed a new production platform using silkworms and E.coli to
spin synthetic spider silk fibers. Spiber Inc. is working on developing new
genetic and fermentation techniques to lower the costs.
Read More,
https://www.trendingwebwire.com/global-synthetic-spider-silk-markets-trends-size-and-share-analysis/
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