0

Synthetic Spider Silk Market Expected to Reach $7.02 Billion by 2030-Allied Market Research

 
2022
Synthetic Spider Silk Market

Report Code : A13098

quote The synthetic spider silk market is anticipated to witness considerable growth during the forecast period. This is attributed to factors such as rise in demand for synthetic spider silk from various applications, including textile, automotive, healthcare, and defense. However, stringent government regulations toward environmental pollution caused by production of carbon dioxide during production of synthetic spider silk and rapid difficulties in farming of spiders are restraining the growth of the market globally. Conversely, R&D toward the innovating new production techniques is anticipated to provide potential growth opportunities in the upcoming years. quote

Eswara Prasad
Manager, Materials & Chemicals at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       
 

According to a new report published by Allied Market Research titled, Synthetic Spider Silk Market by Technology and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the synthetic spider silk market size was valued at $1.10 billion in 2020, and is projected to reach $7.02 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.

Synthetic spider silk is a manmade spider silk, which is an alternative to silkworm silk. Synthetic spider silk is produced through various technologies such as genetically modified E-coli fermentation, genetically modified silkworm, and genetically modified yeast fermentation. It is used in various applications, including drug delivery, regenerative medicine, wound healing, automotive interiors, and luxurious textile products which in turn is expected to rise the demand for synthetic spider silk from 2021-2030.

Significant development of the end-use industries such as textile, construction, automotive, military & defense, and healthcare is fueling the growth of the synthetic spider silk market during the forecast period. In addition, increase in demand for synthetic spider silk for the production of aerospace interior products is driving the growth of the market, globally. However, difficulties associated with the farming of spiders is the key factor hampering the growth of the global synthetic spider silk market in the upcoming years.

Depending on the technology, the genetically modified E-coli fermentation segment held the highest market share of about 29.34% in 2020, and is expected to maintain its dominance during the synthetic spider silk market forecast period. This is attributed to rise in demand for synthetic spider silk from the industries such as healthcare, textile, and automotive. In addition, advantages associated with genetically modified E-coli bacteria fermentation such as high-density fermentation and improved product quality are anticipated to fuel the growth of the market in the coming years.

On the basis of application, the automotive segment acquired the largest share, in terms of revenue, and is expected to grow at a CAGR of 21.0% during the analyzed time frame. This is attributed to rise in demand for synthetic spider silk from automotive interior applications such as seats, covers, and airbags. In addition, rapid expansion of the automotive industry and production & sales of vehicles in the regions such as Asia-Pacific and Europe are anticipated to fuel the demand for synthetic spider silk in the manufacturing of automotive interior products, which, in turn, is expected to drive the market growth in the upcoming years.

Region wise, the market is analyzed across four major regions such as North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific garnered the dominant position in 2020, and is anticipated to continue this trend during the forecast period. This is attributed to the presence of huge consumer base such as automotive and textile in the region.

In addition, synthetic spider silk is gaining importance in the healthcare and defense applications, owing to rise in its demand for manufacturing textile products such as ropes, net, parachutes, surgical structure, artificial ligaments, body armor, and bulletproof clothing. These factors are further anticipated to fuel the growth of the Asia-Pacific synthetic spider silk market during the analyzed time frame.

The global synthetic spider silk market analysis covers in-depth information of the major synthetic Spyder silk industry participants. The key players operating and profiled in the report include Kraig Biocraft Laboratories, Inc., AMSilk GmbH, Bolt Threads, Spiber, Inc., Seevix, Inspidere BV, Technology Holding LLC, Spintex Engineering Ltd., and Spiber Technologies SE.

COVID-19 impact on the market

The global synthetic spider silk market has witnessed steady growth in 2020, owing to outbreak of the COVID-19 pandemic. The outbreak has negatively impacted various industries and countries, thereby decreasing manpower across the globe, which, in turn, decreased consumer spending. This further led to decline in the demand for various products, including textile products, vehicles, and textiles. However, owing to the lockdown imposed across the globe, the supply–demand gap increased, which resulted in halt in supply for raw materials used in synthetic spider silk production. In Europe, economies, such as Germany, France, Spain, and Italy were following stringent measures, such as maintaining social distance and limiting movements to prevent the spread of coronavirus. Moreover, such safety measures have been witnessed across the globe, which further impacted the global synthetic spider silk market growth. It is expected that rise in vaccination across the globe is expected to lessen the impact of covid-19 outbreak which in turn is anticipated to recover the growth of the synthetic spider silk market in the second half of 2021.

Key Findings Of The Study

  • In 2020, the genetically modified e-coli segment accounted for about 29.34% of the share in the global synthetic spider silk market, and is expected to maintain its dominance till the end of the forecast period.
  • In 2020, the genetically modified yeast fermentation segment exhibited 18.19% synthetic spider silk market share, and is anticipated to grow at a rate of 22.1% in terms of revenue.
  • The automotive segment registered the highest growth rate at a CAGR of 21.0% during the forecast period.
  • North America is expected to grow at the fastest rate, registering a CAGR of 20.7%, throughout the synthetic spider silk market forecast period.
  • In 2020, Asia-Pacific dominated the global synthetic spider silk market with more than 39.9% of the share, in terms of revenue.
 

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com

 

For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at
media@alliedmarketresearch.com

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample
 
 

First time buyer?
Check offers and discount on this report
To get this report

Click Here
 
 

quote Synthetic Spider Silk Market by Technology (Genetically Modified E-coli Fermentation, Genetically Modified Silkworm, Genetically Modified Yeast Fermentation, and Others) and Application (Automotive, Defense, Healthcare, Textile, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030 quote

View Report
 
 

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.

 
 

WHY ALLIED MARKET RESEARCH?

INFLALLIBLE METHODOLOGY

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

ANALYST SUPPORT

For complete satisfaction

CUSTOMIZATION

On-demand customization of scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save time of readers

 

Featured Readings

 
rep-img

Published Date Oct 2024

Digital Substation Market

Download Sample
rep-img

Published Date Oct 2024

Argan Oil Market

Download Sample

Buy Full Version
"Synthetic Spider Silk Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction

Customization

On-demand customization of the scope of the report to exactly meet your needs

TARGETED MARKET VIEW

Targeted market view to provide pertinent information and save the time of readers