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