July 20, 2024

Synthetic Spider Silk Is Driven By Enhanced Properties Compared To Natural Silk

Spider silk is known for its light weight and extraordinary strength. It is five times stronger than steel on an equal weight basis and 30% stronger than Kevlar which is widely used for bulletproof vests. Synthetic spider silk mimics the natural silk spun by spiders but offers enhanced properties and overcomes limitations of natural silk like availability and productivity. Synthetic spider silk is a human-made protein-based fiber produced through genetic engineering techniques. Its nanostructure contributes to exceptional mechanical strength with flexibility. This unique combination of high strength and flexibility makes synthetic spider silk a suitable material for numerous industrial applications ranging from textiles, parachutes, medical sutures to bulletproof vests. With growing interest from defense, aerospace, medicine and automotive industries, the demand of synthetic spider silk is increasing at a rapid pace.

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 key trends:

One of the major trends witnessed in the synthetic spider silk market is the growing focus of key players on scaling up production volumes through cost-effective recombinant methods. As natural spider silk production requires farming spiders which is unviable at commercial scale, companies are investing heavily in microbial fermentation and transgenic organisms for mass production from genetically modified yeast, plants and bacteria. For instance, recombinant yeast production platform developed by Kraig Biocraft Laboratories can potentially manufacture synthetic spider silk at 10,000 times greater yield compared to natural spider silk production. This focus on recombinant manufacturing is expected to significantly increase availability and lower production cost of synthetic spider silk, opening up widespread opportunities across new applications over the forecast period.

Porter’s Analysis

Threat of new entrants: Low threat as the synthetic spider silk market requires high capital investment and R&D efforts to produce synthetic spider silk fibers at scale.

Bargaining power of buyers:
Moderate bargaining power as buyers have limited alternatives to synthetic spider silk and standard product offerings from suppliers.

Bargaining power of suppliers:
High bargaining power as the technology is highly specialized and limited number of players can produce synthetic spider silk currently.

Threat of new substitutes: Moderate threat as new bio-based fibers may emerge as substitutes for synthetic spider silk over the forecast period.

Competitive rivalry: High competitive rivalry due to presence of few specialized players investing in research to produce synthetic spider silk at commercial scale.

Key Takeaways

The Global Synthetic Spider Silk Market Analysis is expected to witness high growth over the forecast period. 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.

North America is currently the largest market for synthetic spider silk accounting for around 35% of the global demand in 2023. The presence of key players such as Kraig Biocraft Laboratories and engineering labs focused on developing spider silk proteins contributes to the market dominance.

Europe is also a major market for synthetic spider silk and accounted for over 25% share in 2023. The region is witnessing significant research on developing methods to produce synthetic spider silk fibers with properties similar to natural spider silk such as strength and elasticity. Government funding for such R&D initiatives is driving the Europe synthetic spider silk market.

Key players operating in the synthetic spider silk market are Kraig Biocraft Laboratories, Spiber Inc., AMSilk, and Bolt Threads. Kraig Biocraft Laboratories recently developed transgenic silkworms capable of producing synthetic spider silk proteins. This development is expected to drastically reduce the costs involved in mass production of spider silk fibers and propel the market growth over the next few years.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it