Competitive Landscape:
Major players operating in the global synthetic spider silk market include Spiber Inc., Bolt Threads Inc., AMSilk GmbH, and Kraig Biocraft Laboratories, Inc.
Key Market Drivers:
Spider silk is biodegradable and is being recently
used for making airbags for cars, hence the increasing sales of cars in the
world is expected to augment the growth of the global synthetic spider silk market. For instance, according to Hedges & Company, currently, there are
1.446 billion cars in the world. Although spider silk does not look like a very
useful material, it is surprisingly strong. Scientists have described it as
being stronger than steel, but this is not entirely accurate. Despite this, the
material has amazing mechanical properties, and it can absorb three times as
much force as silkworm silk. The process of producing spider silk is complex
and takes many hours. Spiders are a cannibalistic species, and therefore cannot
produce large quantities of silk in the wild. Increasing usage of spider silk
in several sectors is estimated to enhance the growth of the global synthetic
spider silk market.
𝐆𝐞𝐭 𝐈𝐧𝐝𝐮𝐬𝐭𝐫𝐲 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐖𝐢𝐭𝐡 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : ➦ https://www.coherentmarketinsights.com/insight/request-sample/1667
Covid-19 Impact
Analysis
During the COVID-19 pandemic, the global synthetic
spider silk market witnessed several restraints. Research and development
witnessed several challenges, as demand and production fell. Moreover,
transport restrictions and lockdown measures also affected the market growth.
Key Takeaways:
North America is expected to dominate
the growth of the global synthetic spider silk market, owing to the increasing
prevalence of cars in the region. For instance, according to the American
Automobile Association, in 2021, there were 289.5 million cars in the United
States.
The Asia Pacific is estimated to witness
high growth in the global synthetic spider silk market, owing to the high
production of cars in the region. For instance, according to Carandbike,
currently, the sales of vehicles in India was around 1,75,13,596 units.
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