Synthetic Spider Silk Market Share

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 poised to account for largest revenue share by 2037, 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.