by The synthetic spider silk market is estimated to be valued at US$ 1129.27 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 refers to artificially produced silk fibers that mimic natural spider silk. Spider silk is considered as one of the strongest fibers produced in nature, with properties such as high tensile strength, elasticity and flexibility. Synthetic spider silk fibers find major applications in the textile industry for production of clothes, armor and parachutes owing to their high strength and lightweight properties. In the medical industry, synthetic spider silk is used in surgery as dissolvable surgical sutures and scaffolds for tissue regeneration due to its biocompatibility and easiness to break down in the body.
Market Dynamics:
The growing demand for lightweight and high-strength materials from the defense and medical sectors is a major driver fueling growth of the synthetic spider silk market. Spider silk is five times stronger than steel and offers bullet-proof protective gear for the military. They are also used to manufacture protective vests, parachutes, tents and other supplies. Moreover, synthetic spider silk sutures exhibit less scarring and greater strength retention after dissolving in the body as compared to conventional sutures.
Rising investments by governments and private players in development of novel bio-based fibers with superior material properties is also boosting market growth. For instance, Kraig Biocraft Laboratories has received funding from US Army to develop spider silk fibers for protective gear applications. Additionally, projects focused on developing synthetic spider silk for use as tissue scaffolds and release-controlled drug delivery are gaining momentum.
Segment Analysis
The synthetic spider silk market is dominated by the bio silk sub-segment. Bio silk is produced through bioengineering techniques involving genetically modified organisms such as bacteria, yeast, and goat. It is similar to natural spider silk in terms of high strength, elasticity, and durability. This sub-segment is dominating as bio silk can be mass produced economically through fermentation process as compared to natural spider silk which requires harvesting silk from spiders.
PEST Analysis
Political: The governments across regions are supporting research activities in synthetic spider silk development through funding. This is encouraging market growth.
Economic: The high demand from end-use industries such as automotive, textile, and military is driving the market. The low cost of production compared to other substitute materials is further fueling the market.
Social: Rising awareness about eco-friendly and sustainable materials is positively impacting the adoption of synthetic spider silk.
Technological: Advancements in bioengineering technologies for developing genetically modified microbial platforms and cell cultivation techniques have augmented the production of bio-based synthetic spider silk.
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 and high-performance materials. North America dominates the market owing to extensive R&D and presence of key players in the US. The Asia Pacific region is expected to be the fastest growing market due to rising industrialization, increasing investments in research, and developing end-use industries in China and India.
Key players operating in the synthetic spider silk market are Kraig Biocraft Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft Laboratories is a leading player and has developed transgenic silkworms capable of producing synthetic spider silk proteins. Spiber Inc. produces bio-based synthetic silk called Brewed Protein via fermentation process. AMSilk focuses on biomimetic production of synthetic spider silk fibers. Bolt Threads produces synthetic spider silk fibers using genetically engineered yeast under the brand name Microsilk.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
