Market Overview:
Synthetic spider silk is an alternative to the conventional spider silk replicating the latter’s features such as energy-absorbent nature, elasticity and strength. Water content in synthetic spider silk amounts up to 98%. Synthetic spider silk is made from hydrogel, which comprises of 98% of water and 2% of silica and cellulose. Synthetic spider silk is weaker compared to its natural counterpart, however, they are far stronger compared to other fibers such as nylon. Further, synthetic spider silk is also stronger and flexible compared to KEVLAR. Favorable mechanical properties of synthetic spider make them ideal for tendon or ligament replacement/ repairing. In addition, synthetic spider silk finds fair application in airbags, tire cords, athletic gears and various others.
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Demand for synthetic spider silk in North America is expected to surge in the coming years, with U.S. leading the growth of the market. U.S. has the highest military spending, which amounted to US$ 610 billion in 2017. Synthetic spider silk is widely used to manufacture bulletproof vests, and due to this factor, the growth in demand for synthetic spider silk in the defense industry is expected to exhibit a positive growth trajectory in the coming years. Further, the automotive sector is expected to exhibit a lucrative platform for the growth of the synthetic spider silk industry in the coming years. According to Insights and Reports, passenger car and truck sales in the U.S. crossed 17 million in 2016, up from 16.8 million in the previous year. Synthetic spider silk finds fair application in the manufacture of airbags, seatbelts, and tire cords among others.
Moreover, in 2018, Stella Nina McCartney, a fashion designer based in London, formed a partnership with Bolt Threads, one of the key manufacturers of synthetic spider silk to incorporate the material in apparels and luxury products. These factors are expected to propel the demand for synthetic spider silk in the coming years.
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The demand for synthetic spider silk is expected to witness a massive surge in Asia Pacific in the coming years on account of the rising automotive industry in the region. India and China are expected to continue leading the market throughout the forecast period. According to Insights and Reports, China accounted for more than 35% of the global passenger car production in in 2017. Further, the government of India has passed a mandate to incorporate airbags in every production vehicle in the country from April 2019. These factors are expected to bolster the demand for synthetic spider silk market in Asia Pacific in the coming years.
Notable players operating in the field of synthetic spider silk market are inclusive of Kraig Biocraft Laboratories, Bolt Threads, AMSilk and Spiber Inc.
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