Spider silk is one of the strongest natural fibers known to mankind, possessing extraordinary properties like high tensile strength, flexibility, and biocompatibility. Synthetic spider silk is manufactured through genetic engineering and biomolecular techniques to replicate the proteins responsible for spider silk’s unique characteristics. It finds wide usage in various industrial applications ranging from bulletproof vests, medical implants, paratrooper systems to space elevators due to its lightweight yet durable nature. The global synthetic spider silk market has also witnessed increasing research on developing novel applications. For example, attempts are being made to produce synthetic spider silk fiber that acts as a scaffold for nerve regeneration and wound healing.
The Global Synthetic Spider Silk Market Size is estimated to be valued at US$ 50 Million in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
Widening Range of Industrial Applications: The exceptional properties of synthetic spider silk make it suitable for a multitude of industrial applications across various sectors like defense, healthcare, automotive, and construction among others. Its growing usage in new applications like biomedical scaffolds, parafil parachutes, space tethers and bulletproof vests is expected to boost the market growth over the forecast period.
Increasing Research Funding: Various governments and private organizations are funding extensive research to engineer synthetic spider silk fibers with tailored properties and large-scale manufacturing capabilities. For instance, the U.S. Army awarded a multimillion-dollar contract to manufacture synthetic spider silk fibers for military clothing. Such increased research funding is anticipated to contribute significantly to market expansion.
Segment Analysis
The global synthetic spider silk market is segmented on the basis of end use into textile, automotive, healthcare, defense, and others. The textile segment dominates the market and accounts for over 30% share of the global market. Spider silk has found increasing application in textiles owing to properties like strength, flexibility, biodegradability, and breathability. It is used to make clothing, shoes and accessories.
PEST Analysis
Political: The growing support from various government organizations towards development of synthetic spider silk is aiding the market growth. Many governments provide funding for R&D projects in this space.
Economic: Rise in disposable incomes and improving standards of living globally have increased demand for superior quality textiles and other end use products made from advanced materials like synthetic spider silk.
Social: Consumers are increasingly demanding sustainable and eco-friendly products. Spider silk offers properties that makes it a viable substitute for petroleum-based polymers in various applications.
Technological: Significant advancement have been made in genetic and microbial fermentation techniques for mass production of synthetic spider silk proteins. This has addressed earlier issues of limited availability and made spider silk a commercially viable option.
Key Takeaways
The global synthetic spider silk market is expected to witness high growth at a CAGR of 12% during the forecast period of 2024 to 2031.
Regional analysis: The Asia Pacific accounts for over 35% share of the global synthetic spider silk market led by countries like China, India and Japan. China dominates owing to presence of leading R&D institutes working on spider silk and a huge textile industry. Countries in Europe and North America are also growing markets.
Key players operating in the synthetic spider silk market are Kraig Biocraft Laboratories, Bolt Threads, Spiber, AMSilk, and Swixs Silk. Kraig Biocraft Laboratories is a leading player focused on developing transgenic silkworms capable of producing synthetic spider silk proteins.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
