Synthetic Spider Silk Market size was over USD 1.19 billion in 2023 and is expected to reach USD 2.94 billion by the end of 2036, witnessing around 7.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of synthetic spider silk is assessed at USD 1.26 billion.
The synthetic spider silk market is estimated to thrive on the back of rising demand for synthetic spider silk in defense applications and their widespread use in healthcare applications owing to its superior mechanical properties such as high tensile strength and elasticity. The easy availability of raw materials to manufacture synthetic spider silk is also expected to drive the market during the forecast period. Moreover, technological advancements in developing innovative and efficient procedures for production of spider silk fibers is predicted to offer ample growth opportunities to the market in the future.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
7.2% |
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Base Year Market Size (2023) |
USD 1.19 billion |
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Forecast Year Market Size (2036) |
USD 2.94 billion |
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Regional Scope |
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The synthetic spider silk market is segmented by product into genetically modified yeast fermentation, genetically modified silkworm, and genetically modified Escherichia coli (E-coli) bacteria fermentation. Amongst these, the genetically modified yeast fermentation segment is evaluated to hold the largest share in the market over the forecast period, which can be attributed to the growing demand for genetically modified yeast fermentation in healthcare and textile industries across the globe. Furthermore, based on application, the segment for textile is projected to occupy the largest share during the forecast period on account of rising demand for synthetic spider silk to manufacture sports clothing. Additionally, increased military investments by developed nations for the manufacturing of bulletproof clothing made from this fiber is other factor expected to boost the growth of this market segment in the coming years. For instance, the United States spent the most on military in 2019 amounting to about USD 730 billion.
Our in-depth analysis of the global market includes the following segments
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By Product |
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By Application |
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APAC Market Statistics
On the basis of regional analysis, the synthetic spider silk market is segmented into five major regions, including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. Asia Pacific industry is expected to dominate majority revenue share by 2036, on the back of growing demand for synthetic spider silk in the automotive industry in the region for manufacturing airbags, tire cords, seat belts, and other automotive products. Furthermore, APAC is a lucrative region for airbags production with large automobile manufacturing volumes in countries such as China and Japan, which in turn is expected to boost the growth of the synthetic spider silk market in this region. China alone produced more than 29% of automobiles globally in 2019.
North America Market Analysis
However, North America is assessed to witness significant growth in the market during the forecast period on account of increasing investments in military products such as bulletproof vests and uniforms in countries, namely the U.S and Canada.
Author Credits: Rajrani Baghel
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