The Synthetic Spider Silk Market is estimated to be valued at US$ 1132.90 Mn in 2022 and is expected to exhibit a CAGR of 7.01% over the forecast period 2022-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Synthetic spider silk is a human-made fiber which mimics natural spider silk. It exhibits unique properties such as high tensile strength, elasticity, and resistance to degradation. It finds major application in textile, healthcare, automotive and defense industries. In textile industry, synthetic spider silk fibers are used to manufacture clothing, sportswear and outdoor apparel due its lightweight and breathable nature. In biomedical sector, it is finding increasing usage in sutures, artificial skin and tendons owing to its biocompatibility.

Market Dynamics:
Increasing demand from textile industry: Synthetic spider silk fibers have excellent mechanical properties, making them suitable for high-performance textiles. Their lightweight nature and high strength make them suitable for outdoor and athletic clothing. The growing textile industry worldwide is expected to drive the demand for synthetic spider silk over the forecast period.
Growing application in biomedical sector: Synthetic spider silk is increasingly finding application in biomedical sector due to its biocompatibility and hemocompatibility. It is used as sutures and artificial skin which exhibit minimum inflammation and enhance healing. The rising healthcare expenditure and growing medical requirements are fueling the demand for synthetic spider silk in healthcare applications.

SWOT Analysis

Strength:
- Synthetic spider silk has similar properties to natural spider silk such as strength, elasticity and light weight.This makes it suitable for various industrial applications.
- Growing R&D activities to develop new production methods like microbial fermentation is helping lower the cost of production.
- Increasing demand from textiles, biomedical and defense industries is driving the growth of synthetic spider silk market.

Weakness:
- High costs involved in spinning synthetic spider silk into fibers at an industrial scale.
- Difficulty in replicating intricate spinning process of spider silk through human technologies.

Opportunity:
- Growing demand for lightweight and high-performance materials from automotive and aerospace industries provides lucrative growth opportunities.
- Rising investments by governments and private players in developing specialty fibers presents new avenues.

Threats:
- Stiff competition from low-cost substitute materials that can match properties of spider silk.
- Stringent regulations pertaining to GMO products used in synthetic spider silk production.


Key Takeaways

The global Synthetic Spider Silk Market Share is expected to witness high growth, exhibiting CAGR of 7.01% over the forecast period, due to increasing demand for lightweight high-performance materials.

Regional analysis

North America dominated the global synthetic spider silk market in 2021 and is expected to continue its dominance over the forecast period. This is attributed to strong presence of producers and growing funding for R&D in the US. Asia Pacific is anticipated to witness the fastest growth owing to increasing industrial activities and rising investments by key players in developing economies of China and India.

Key players

Key players operating in the synthetic spider silk market are Kraig Biocraft Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft Laboratories developed a new production platform using silkworms and E.coli to spin synthetic spider silk fibers. Spiber Inc. is working on developing new genetic and fermentation techniques to lower the costs.

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