The global Synthetic Spider Silk Market is estimated to be valued at US$ 1212.68 Mn in 2023 and is expected to exhibit a CAGR of 6.1% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Synthetic spider silk fibers offer superior mechanical properties compared to natural fibers such as nylon and wool. They exhibit high tensile strength, elasticity and flexibility making them suitable for various industrial and medical applications.
Market key trends:
One of the major trends gaining traction in the synthetic spider silk market is its increasing adoption in surgical sutures and repair of damaged tendons. Synthetic spider silk has high strength but is flexible enough to move with the body without breaking. Its fine diameter and straight, non-twisting fibers allow for minimally-invasive, precise surgeries with less scar tissue formation. This has fueled research to commercially manufacture sterile medical-grade spider silk for various surgical applications.
Segment Analysis
The global synthetic spider silk market is segmented by form into solid and liquid. The solid segment is expected to dominate the market over the forecast period due to growing demand for synthetic spider silk fiber in various applications such as textiles, automotive, defense, and healthcare. Solid synthetic spider silk fiber exhibits high strength and elasticity similar to natural spider silk and has application as bulletproof jackets and other protective clothing in defense industry.
Key Takeaways
The global Synthetic Spider Silk Market Size is expected to witness high growth, exhibiting CAGR of 6.1% over the forecast period, due to increasing demand for high performance fibers in applications such as automotive, defense, and healthcare industries.
Regional analysis- Asia Pacific region is expected to be the fastest growing as well as dominating region in the global synthetic spider silk market over the forecast period. This is attributed to the presence of key players in countries such as Japan and China along with increasing R&D expenditure on protein engineering and fiber technology development in the region.
Key players- 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. uses bioengineered yeast fermentation method for synthetic spider silk production.
The global synthetic spider silk market size was valued at US$ 1212.68 Mn in 2023 and is expected to reach US$ 2045.05 Mn by 2030, growing at a CAGR of 6.1% during the forecast period.
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