Report Code: A13098 | Pages: 190 | ||
Tables: 85 | Charts: 44 |
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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.
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.
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.
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.
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
Key Market Segments
By Technology
By Application
By Region
Synthetic Spider Silk Market Report Highlights
Aspects | Details |
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By Technology |
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By Application |
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By Region |
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Key Market Players | Spiber, Inc., AMSILK GMBH, KRAIG BIOCRAFT LABORATORIES, INC., Technology Holding LLC, SPINTEX ENGINEERING LTD., .BOLT THREADS, SEEVIX, INSPIDERE BV, SPIBER TECHNOLOGIES SE |
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Rapid growth of automotive, textile, healthcare and defense industries is the key factor driving the growth of the global synthetic spider silk market. Asia-Pacific is expected to provide lucrative opportunities to leading synthetic spider silk manufacturers, owing to its huge potential to set up manufacturing plants and surge in demand for high strength textile products from industries mentioned above.
However, difficulties associated with farming of spiders and regulations toward generation of carbon dioxide from production of synthetic spider silk are expected to hamper the growth of the market during the forecast period. On the contrary, rise in R&D activities associated with development of synthetic spider silk is anticipated to provide key opportunities for key players operating the market.
Renowned global market leaders such as Kraig Biocraft Laboratories, Inc., AMSilk GmbH, and Spiber Technologies LLC are adopting various key growth strategies to strengthen their market position. Furthermore, these companies are focused on agreement, partnership, investment, and product launch to cater to the increasing demand for synthetic spider silk.
Among the analyzed regions, Asia-Pacific is expected to account for the highest revenue in the market by the end of 2030, followed by North America, Europe, and LAMEA.
A. Rise in demand for textile products from automotive, defense and healthcare applications is the key factor driving the synthetic spider silk market growth during the forecast period.
A. Technological advancements in the synthetic spider silk are expected to be the key trend in the synthetic spider silk market.
A. Automotive industry is expected to drive the adoption of Synthetic Spider Silk.
A. Segments covered in the synthetic spider silk market report are technology, application and region.
A. The outbreak of COVID-19 has negatively impacted various industries and countries across the globe in the year 2020. Owing to the lockdown imposed, globally, decrease has been witnessed in the growth rate of the industries such as construction & building, transportation, oil & gas, automotive, and energy sectors but rise in vaccination and step by step unlocking of operations across the globe will fuel the market growth in 2021.
A. Top players in the synthetic spider silk market are Kraig Biocraft Laboratories, Inc., AMSilk GmbH, Bolt Threads, Spiber, Inc., Seevix, Inspidere BV, Technology Holding LLC, Spintex Engineering Ltd., and Spiber Technologies SE.
A. In terms of revenue, the market size of synthetic spider silk market is anticipated to reach $1.10 billion by 2030, growing at CAGR of 19.4% from 2021 to 2030.
A. Automotive & textile industry are projected to increase the demand for Synthetic Spider Silk Market.
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