The Silk market is a well-established, moderating growing global market. The constant increase in demand from the expanding textile industry makes the market to profit in the forecast period and is anticipated to reach a total of 28.71 billion with a 7.82% CAGR and by the end of 2023.
Scientists from the University of Würzburg have made a crucial discovery of the new molecular details of the self-assembly of a spider silk fiber, which is one of the toughest fibers in nature.
Researchers at Columbia University have replicated comet moth silk fiber called air-conditioned fiber.
Silk Market Value and Growth:
The Global Silk market size was around $19.7 billion by revenue, at the end of 2018. It is anticipated to grow at CAGR of 7.82 % to reach a total of $28.71 billion by 2023.
Silk Market Drivers and Restraints:
The improving quality of the silk is expected to raise the demand for mulberry silk and thereby drive the global silk market towards prosperity. Since silk has a major application in the textile industry, the fast-growing textile market mutually helps in the global silk market growth. Development in sericulture technology has a direct effect on the silk industry, hence acts as a driver to the global silk market.
However, the concentration of the market in the Asia Pacific region, majorly in China, makes the global market driven by the geography and climate of the region. This on a long run poses as a restraint to the global market. The high dependency for raw material on countries like China gives it the sole power to impose price barriers making the leading buyers shift markets. This restrains the global market in terms of lack of demand. Also, silk is the second most harmful fiber to the environment and restrains the growth of the market.
Silk Market Segmentation Analysis:
Based on the type of rubber the global Silk market is categorized into Mulberry Silk, Tussar Silk, Eri Silk, and Others. The Mulberry silk market is the largest among other types of silk and is anticipated to have the highest CAGR in the forecast period. The high use of mulberry silk in the textile industry for direct and blended imitation products makes it the leading silk type of them all. The tussah silk is the second in line after mulberry to dominate the silk market.
Based on the application of the Silk the global Silk market is divided into Textile, Cosmetics, Medicine, and Others. Of the mentioned applications silk is mostly used in the textile industry as direct and blended imitation products. This makes the textile industry application the fastest growing and revenue generating for the global silk market. Cosmetics and medicine are the other major applications of silk. At an early stage of silk making, the silk fibroin protein obtained is used as a raw product for many cosmetic products like cosmetic cream, lotion, liquid soap, cleansing foam, shampoo, conditioner, and nail enamel.
Silk Market Geographical Analysis:
Silk Market Key Market Players:
By the end of 2018, Anhui silk (China), Kraig Biocraft Laboratories(U.S.), Wujiang First Textile(China), Wujiang Wanshiyi silk(China), Zhejiang Jiaxin silk(China), Sichuan Nanchong Liuhe (China), ShengKun Silk Manufacturing(China), Jiangsu Sutong Cocoon & Silk Corporation(China), Wensli Group(China), China Silk Corporation (China), Jinchengjiang Xinxing Cocoon Silk(China),Spiber Inc., AMSilk, and Bolt Threads are the leading shareholders of the Global Silk market. Some of these key market players are currently focused on expansion strategies to improve their market value and position in the world.
Silk Market Research Report Key Highlights:
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3.1 Executive Summary
3.2 Key Inferences
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1.2 Mulberry Silk
5.1.3 Tussar Silk
5.1.4 Eri Silk
5.1.6 Y-o-Y Growth Analysis, By Type
5.1.7 Market Attractiveness Analysis, By Type
5.1.8 Market Share Analysis, By Type
5.2.6 Y-o-Y Growth Analysis, By Application
5.2.7 Market Attractiveness Analysis, By Application
5.2.8 Market Share Analysis, By Application
6. Geographical Analysis
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
6.1.4 Market Attractiveness Analysis
22.214.171.124 By Geographical Area
126.96.36.199 By Product
188.8.131.52 By Application
6.1.5 Market Share Analysis
184.108.40.206 By Geographical Area
220.127.116.11 By Type
18.104.22.168 By Application
6.2 North America
6.1.2 United States
6.3.6 South Korea
6.5 Latin America
6.4.5 Rest of Latin America
6.6 Middle East & Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 Anhui silk Co. Ltd.
8.3 Kraig Biocraft Laboratories, Inc.
8.4 Wujiang First Textile Co.,Ltd
8.5 Wujiang Wanshiyi silk Co.
8.6 Zhejiang Jiaxin silk Corp., Ltd.
8.7 Sichuan Nanchong Liuhe
8.8 ShengKun Silk Manufacturing Co., Ltd
8.9 Jiangsu Sutong Cocoon & Silk Co
8.10 Wensli Group Co. Ltd.
8.11 China Silk Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
a) List of Tables
b) List of Figures