Spider silk is a lightweight, strong and resilient
biomaterial that can be utilised for various purposes such as protective and
biomedical textiles among others. Synthetic spider silk is manufactured using
genetic engineering techniques by extracting spider silk genes and placing them
in engineered host organisms to mass-produce the proteins that make up spider
silk. The engineered spider silk has similar strength and resilience as natural
spider silk along with added advantages like consistent quality, mass
production capabilities and control over fibre diameter and length. The global
demand for strong, lightweight and durable materials in military fabrics,
para-military gear and other defense applications is driving the research and
development of synthetic spider silk.
The global Synthetic Spider Silk Market is estimated to be valued at US$ 1212.68 Mn in 2023 and is expected
to exhibit a CAGR of 6.1% over the
forecast period 2023 to 2030, as highlighted in a new report published by
Coherent Market Insights.
Market Opportunity:
Increasing usage of synthetic spider silk fibers in military and defence
applications such as protective wear, parachutes, tents and other gear is
expected to drive significant growth in the market over the forecast period.
Military fabrics and gears require materials that are lightweight, strong, tear
resistant and durable even in harsh environmental conditions. Synthetic spider
silk fibers meet all these criteria and thus have immense potential to replace
conventional materials like nylon, polyester, Kevlar and carbon fibers in
defense applications. With ongoing R&D and partnerships between material
companies and defense organizations, usage of synthetic spider silk is
projected to scale up in the coming years thereby opening substantial lucrative
opportunities for market players in this segment.
Porter's Analysis
Threat of new entrants: Low capital requirements however R&D costs are
high and established players have scale advantages.
Bargaining power of buyers: Buyers
have moderate bargaining power given the specialized nature of the product
however established buyers can negotiate on price.
Bargaining power of suppliers:
Suppliers of raw materials have low bargaining power given the availability of
substitute materials.
Threat of new substitutes: Threat of substitutes is low as synthetic spider
silk has unique properties that are difficult to replicate.
Competitive rivalry: High as players compete on technology, product quality
andprice.
SWOT Analysis
Strengths: Unique properties like
strength and flexibility. Growing demand from textile,automotive and medical
industries.
Weaknesses: High R&D and production costs. Technological challenges in
mass production.
Opportunities: Potential for new
high performance materials. Growing bio-economy and sustainable materials
market.
Threats: Slow market adoption.
Competition from new artificial fibers. Regulatory hurdles.
Key Takeaways
Regional analysis shows that North America currently dominates the market
driven by presence of key players and growing demand from defense and medical
industries. The Asia Pacific region is expected to be the fastest growing
market owing to rising R&D investments, potential for new applications and
growing manufacturing base in countries like China and India.
Key players operating in the synthetic spider silk market are Kraig Biocraft
Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft
Laboratories is a leading player focused on developing genetically engineered
spider silk fibers. Spiber is commercializing brewed spider silk microfibers
under the brand name Qmonos. AMSilk develops synthetic spider silk using
recombinant technologies. Bolt Threads produces spider silk protein in
fermented yeast for textile and other materials.
For more insights, read - https://www.rapidwebwire.com/propelled-by-wide-range-of-industrial-applications-demand
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