Synthetic spider silk fibers can be produced on an industrial scale and applied in a variety of markets due to their outstanding mechanical properties. Spider silk fibers are lighter than steel but stronger than Kevlar for their diameter. These fibers absorb energy during deformation so they do not break easily. The development of large-scale bioengineering techniques has allowed industrial production of synthetic spider silk fibers as a substitute for conventional materials in applications ranging from bulletproof vests to surgical sutures.
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 key trends:
The increasing demand from the textile and biomedical industries has been a major driver for the synthetic spider silk market. Spider silk fibers are being studied for their potential in high-performance materials for ballistic protection and biomedical applications like artificial tendons and ligaments. Several startups are working on developing cost-effective production methods to manufacture spider silk on an industrial scale for commercialization. This has propelled significant research into bioengineering methods to produce synthetic spider silk with mechanical properties comparable to natural spider silk using yeast, plant or mammalian cell expression systems.
Strength: Synthetic spider silk has properties similar to natural spider silk such as high tensile strength, flexibility and elasticity. It can be used as an alternative to existing materials in various end use industries.
Weakness: High costs involved in the R&D and production of synthetic spider silk. Dependence on genetically engineered organisms for the production process increases complexity.
Opportunity: Growing demand from textile, automotive and healthcare industries due to the lightweight and durable nature of the material. Potential to replace steel, Kevlar and other materials in these industries.
Threats: Slow adoption rate due to the nascent stage of technology and competition from established alternative materials. Stringent regulations pertaining to genetically modified organisms could hamper market growth.
The Global Synthetic Spider Silk Market Analysis is expected to witness high growth over the forecast period of 2023 to 2030. 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.
The Asia Pacific region currently dominates the market and is expected to maintain its lead. Countries like China, Japan and India have a strong foothold in the textile industry and increasing R&D activities in synthetic fibers.
North America is projected to witness fastest growth due to rising government funding for spider silk research in the US. Major players like Kraig Biocraft Laboratories, Spiber Inc. are based in the region and expanding their product portfolios.
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 engaged in developing genetically engineered silkworms to produce synthetic spider silk fibers. Spiber Inc. focuses on brewer’s yeast fermentation process to manufacture synthetic spider silk proteins. These major players are innovating new production technologies and materials to boost market share.
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it