Global Synthetic Spider Silk Market to Surpass US$ 1,291.5 Billion by 2025

Published On : May 24, 2018

Global Synthetic Spider Silk Market was valued at US$ 1.74 Bn in 2016, according to Global Synthetic Spider Silk Market Report by Product Type, (Genetically Modified Yeast Fermentation, Genetically Modified Silkworm, and Genetically Modified E-Coli Fermentation), by Application (Automotive, Textile, Healthcare, Defense, and Others) published by Coherent Market Insights. The synthetic spider silk market is expected to register a CAGR of 105.22% over the forecast period (2018–2025) to reach US$ 1,291.5 Bn by 2025.

Increasing application for synthetic spider silk is one of the key factors aiding in growth of this market. Furthermore, high strength of synthetic spider silk over other synthetic fiber such as nylon and high elasticity and tensile strength is another key factor aiding in growth of the market. Moreover, its bio-degradable and bio-compatible nature compared to other synthetic fibers is another key reason for its increasing demand in various applications such as the manufacture of airbags, seatbelts, ligament replacement and repair and various others. Synthetic polymers are one of the major causes of environmental pollution. According to the United Nations National Institutes of Health, over 40% of the sea-bird species are known to have ingested synthetic polymers and millions die every year due to synthetic polymer ingestion. These are some of the factors leading to high demand for synthetic spider silk.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/synthetic-spider-silk-market-1667

Browse 150 market data tables* and 60 figures* on "Synthetic Spider Silk Market”- Global forecast to 2025.

Key Trends and Analysis of Synthetic Spider Silk Market:

  • Among application areas, demand for synthetic spider silk in the defense sector is expected to increase by the end of the forecast period. Bulletproof vests are manufactured with Kevlar, a synthetic fiber woven into fabric and layered, thus making it stronger than steel. However, synthetic spider silk, owing to its high tensile strength and elasticity, is considered to be tougher than Kevlar, due to which manufacturers operating in the bulletproof vest industry are looking to incorporate synthetic spider in their products. In 2016, Kraig Biocraft Laboratories—a bioengineering company based in the U.S., announced an Army contract to develop dragon silk for use in body armors. The office of Army’s Soldier Protection and Individual Equipment (PM-SPIE) has granted Kraig Biocraft with US$ 100,000 to test their Dragon Silk to manufacture body armor. Dragon silk find numerous advantages over Kevlar such as flexibility. The elasticity of dragon silk lies in the range of 30%-40% compared to the elasticity of Kevlar, which lies in the range of 2%-3%. Thus, demand for synthetic spider silk is expected to increase significantly in the defense sector in the near future.

Key Takeaways of the Market:

  • Demand for synthetic spider silk in North America is expected to increase significantly in the near future. The revenue of synthetic spider silk market in North America was valued at US$ 0.4 billion in 2016 and the same is expected to reach US$ 311.1 billion by the end of the forecast period. Synthetic spider silk finds application in several automotive parts. According to Coherent Market Insights, the automotive vehicle and parts retail trade in the U.S. was valued at around US$ 102.32 billion in 2017 and is expected to increase in the near future. Synthetic spider silk finds fair application in the manufacture of airbags and seatbelts in the automotive sector.
  • Synthetic spider silk also have application in manufacturing seatbelts and airbags. According to Coherent Market Insights, the global airbags and seatbelts market was valued at US$ 56.45 billion in 2017, with North America capturing a market share of nearly 26.5% in the same year. Therefore, this is expected to aid in growth of the market in the region.
  • India is a lucrative market for synthetic spider silk, due to growing automotive industry and increasing stringency regarding safety of the passengers. The Government of India has announced to make airbags mandatory for each and every production vehicle from April 2019. This factor is expected to bolster demand for synthetic spider silk in the automotive industry in India. Furthermore, China is the world’s largest producer of automotive vehicles and parts, due to which demand for synthetic spider silk is expected exhibit significant growth during the forecast period. The synthetic spider silk market in Asia Pacific is expected to reach US$ 571.2 billion by the end of the forecast period.

Some of the key players operating in this market include Kraig Biocraft Laboratories, Spiber Inc., and Bolt Threads, among others.

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