Synthetic Spider Silk Market

The global synthetic spider silk market size was valued at $1.09 billion in 2020, and is expected to reach $7.02 billion by 2030, registering a CAGR of 19.4% from 2021 to 2030.

The COVID-19 outbreak has impacted negatively on the Global Synthetic Spider Silk market. This is attributed to decline in demand for spider silk based products, including textile products, vehicles, and textile products from industries including healthcare, automotive, defense and others.

Synthetic spider silk is an important material, which is used for textiles, cosmetics, and coatings. Synthetic spider silk finds its application in bullet-proof clothing, wear-resistant lightweight clothing, ropes, nets, seat belts, parachutes, rust-free panels on motor vehicles or boats, biodegradable bottles, bandages, surgical thread artificial tendons or ligaments, and supports for weak blood vessels. Synthetic spider silk is most versatile material and exhibits high tensile strength. Moreover, it is believed to possess antiseptic properties and facilitate healing, as the silk is rich in vitamin K, which can be effective in clotting of blood.

Rapid development of the textile, healthcare, and defense sectors in developing economies across Asia-Pacific, Europe, and LAMEA is expected to drive the demand for synthetic spider silk, which, in turn, is anticipated to propel the growth of the synthetic spider silk market during the forecast period. In addition, increase in awareness and adoption of biodegradable products consumers across the globe is projected to fuel the demand for synthetic spider silk, which is further expected to fuel the growth of the market in coming years. 

The global synthetic spider silk market is segmented into technology, application, and region. Depending on technology, the market is segregated into genetically modified E-coli fermentation, genetically modified silkworm, genetically modified yeast fermentation, and others. On the basis of application, it is categorized into automotive, defense, healthcare, textile, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The global market covers in-depth information of the major synthetic spider silk industry participants. Some of the major players in the market include Kraig Biocraft Laboratories, Inc., AMSilk GmbH, Bolt Threads, Spiber, Inc., Seevix, Inspidere BV, Technology Holding LLC, Spintex Engineering Ltd., and Spiber Technologies SE.

The key players are adopting numerous strategies such as product launch, agreement, partnership, and investment to stay competitive in the synthetic spider silk market.

For instance, in June 2021, Kraig Biocraft Laboratories, Inc. invested in installing new equipment at the production facility in Vietnam. This investment aimed at strengthening production operation in the above production facility.

In addition, in November 2018, Kraig Biocraft Laboratories, Inc. developed genetically engineered silkworm strain for the protective textile applications for the U.S. Army. This development strengthened the position of company in end market performance requirements.

The synthetic spider silk market is analyzed and estimated in accordance with the impacts of the drivers, restraints, and opportunities. The period studied in this report is 2021–2030. The report includes the study of the synthetic spider silk market with respect to the growth prospects and restraints based on the regional analysis. The study includes Porter’s five forces analysis of the industry to determine the impact of suppliers, competitors, new entrants, substitutes, and buyers on the market growth.

Synthetic spider silk market, by technology

By technology, the genetically modified e-coli fermentation segment held the largest synthetic spider silk market share in 2020, owing to advantages associated with genetically modified E-coli bacteria fermentation such as high-density fermentation and improved product quality. In addition, rise in demand for synthetic spider silk from the industries such as healthcare, textile, and automotive is expected to drive the growth of the market during the forecast period.

Synthetic spider silk market, by application

On the basis of application, the automotive segment exhibited the highest market share in 2020. This is attributed to rise in demand for synthetic spider silk from automotive interior applications such as seats, covers, and airbags. In addition, rapid expansion of the automotive industry and surge in production & sales of vehicles in Asia-Pacific and Europe are anticipated to fuel the demand for synthetic spider silk in the manufacturing of automotive interior products, which, in turn, is expected to drive the market growth in the near future.

Synthetic spider silk market, by region

Asia-Pacific garnered the highest share in the synthetic spider silk market in 2020, in terms of revenue, and is anticipated to maintain its dominance throughout the forecast period. This is attributed to rise in demand for textile products and huge consumer base in the region. In addition, the demand for automotive interiors in the automotive sector is expected to come from electric vehicles, which will consequently boost the demand for synthetic spider silk-based textiles.

COVID-19 impact on the market

Lockdown imposed due to the outbreak of COVID-19 pandemic resulted in temporary ban on import & export and manufacturing & processing activities across various industries, which decreased the demand for synthetic spider silk. This resulted in decline in market growth in the second, third, and fourth quarters of 2020. However, the synthetic spider silk market is expected to recover by the first quarter of 2021, as COVID-19 vaccination drive has begun in various economies, which is expected to improve the global economy.

Key Benefits For Stakeholders

• The report provides an extensive qualitative and quantitative analysis of the current synthetic spider silk market trends and future estimations of the global synthetic spider silk market from 2021 to 2030 to determine the prevailing opportunities.
• A comprehensive synthetic spider silk market analysis of the factors that drive and restrict the growth is provided.
• Estimations and synthetic spider silk market forecast are based on factors impacting the market growth, in terms of value.
• Profiles of leading players operating in the synthetic spider silk market are provided to understand the global competitive scenario.
• The report provides extensive qualitative insights on the significant segments and regions exhibiting favorable synthetic spider silk market growth.

Key Market Segments

By Technology

• Genetically Modified E-coli Fermentation
• Genetically Modified Silkworm
• Genetically Modified Yeast Fermentation
• Others

By Application

• Automotive
• Defense
• Healthcare
• Textile
• Others

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • France
  • UK
  • Spain
  • Italy
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia-Pacific
• LAMEA
  • Latin America
  • Middle East
  • Africa

 Synthetic Spider Silk Market Report Highlights