Spider Silk Market Size To Reach USD 6.05 Billion In 2030 | Increasing Number Of Businesses Adopting Spider Silk For Manufacturing Various Products, Says Emergen Research
VANCOUVER, BC, March 22, 2022 /PRNewswire/ -- The global spider silk market size reached USD 1.26 Billion in 2021 and is expected to register a significantly rapid revenue CAGR during the forecast period, according to latest analysis by Emergen Research. Rise in demand for textile products in automotive, defense, and healthcare industries, and growing demand for biodegradable and biocompatible materials are major factors expected to continue to drive market revenue growth during the forecast period.
Rise in demand for textile products in automotive, defense, and healthcare industries is boosting global demand for spider silk. Increasing demand for biodegradable and biocompatible materials is a major factor contributing to revenue growth of the global spider silk market.
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Since natural production of spider silk using spiders have limitations due to problems with cultured spiders, recombinant production of spider silk protein is considered the best method to obtain sufficient material. Availability and superior manufacturability of recombinantly produced spider silk proteins have paved the way for modern biomedical applications. This is expected to lead to rise in demand for spider silk, and thereby contribute to revenue growth of the global market.
Restraints:
High cost of manufacturing spider silk has hampered revenue growth of the global spider silk market. In addition, the cannibalistic and territorial nature of spiders makes it extremely difficult to farm spiders for commercial production of fabric. Similarly, the limited amount of silk produced by spiders is another restraining factor for commercial production of spider silk. These factors are expected to hamper market revenue growth during the forecast period.
Growth Projections:
The global spider silk market is expected to register a CAGR of 19.2% over the forecast period, and revenue is expected to increase from USD 1.26 billion in 2021 to USD 6.05 billion in 2030. Increase in demand for textile products in automotive, defense, and healthcare industries, as well as growing demand for biodegradable and biocompatible materials, are some major factors driving market revenue growth.
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COVID-19 Impact Analysis:
The COVID-19 pandemic led to downsizing of various businesses, which limited revenue growth of the global spider silk market. Complete lockdowns and restrained movements significantly impacted production activities. Moreover, resources were directed towards containing the pandemic, which also affected market revenue growth adversely. However, the market is expected to recuperate gradually, due to research, development, and production activities, thereby generating growth opportunities.
Current Trends and Innovations:
Increasing number of businesses adopting spider silk for manufacturing various products, due to its unique ability to combine both strength and extensibility, has led to rise in demand for spider silk. Various biomaterial companies are, therefore, trying to artificially re-create spider silk, which spiders use to form webs or cocoons. Moreover, product-based companies are increasingy adopting alternative fabrics that are eco-friendly and biodegradable, which is expected to drive revenue growth of the market significantly.
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Geographical Outlook:
Asia-Pacific market is expected to register a significantly rapid growth rate during the forecast period, due to increasing government and private investment in research & development of processes that can be employed for mass production of spider silk for commercial purposes. In addition, increasing adoption of high strength and resilient fabrics in the defense industry, to manufacture body armors and parachutes, is expected to increase demand for spider silk and thereby boost revenue growth of the market.
Strategic Initiatives:
Some major companies included in the market report are Kraig Biocraft Laboratories, Inc., AMSilk GmbH, Bolt Threads, Inc., Spiber, Inc., Seevix Material Sciences Ltd., Inspidere BV, Technology Holding LLC, Spintex Engineering Ltd., Spiber Technologies AB, Spidey Tek, Inc., and Xampla Ltd.
- In March 2020, Bolt Threads, Inc., a California-based biotech start-up, had successfully developed the technology to replicate the spider's silk-producing process sustainably and in an industrially scalable way. The company produces proteins inspired by these natural silks through fermentation, before separating and refining the silk proteins into fibers. The resulting fabric was named Microsilk by the company, which is more environment-friendly than traditional textile and is also biodegradable.
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Emergen Research has segmented the global spider silk market on the basis of technology, application, and region:
- Technology Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)
- Genetically Modified E-coli Fermentation
- Genetically Modified Silkworm
- Genetically Modified Yeast Fermentation
- Others
- Application Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)
- Automotive
- Defense
- Healthcare
- Textile
- Others
- Regional Outlook (Revenue, USD Billion, Volume, Metric Ton; 2019–2030)
- North America
- United States
- Canada
- Mexico
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- BENELUX
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Turkey
- Rest of MEA
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trend's existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.
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