Press release
Silk Market Insights, Segment Forecast With AMSilk GmbH, Bolt Threads, Anhui Taipingyang Special Fabric Co.,Ltd , Kraig Biocraft Laboratories, Inc. , EntoGenetics inc., wujiang linghao textile co.,ltd , Wujiang Wanlong Textile Co.,ltd. , Zhejiang Jiaxin
Silk Market
Silk Market is expected to rise from its initial estimated value of USD 13.54 billion in 2018 to a projected value of USD 24.27 billion by 2026, registering a CAGR of 7.57% in the forecast period of 2019-2026.
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Silk can be defined as protein fiber, which is utilized in the production of various textiles, composite materials, etc. Major silk production is done through natural processes but innovations and advancements in the market have resulted in this process changing to synthetic productions in labs. Its characteristics are having a natural sheen, which provides them with a sheen-like structure giving it different colors at different angles of view.
This rise in market value can be attributed to growth of demand from various developing regions of the world. Few of the major competitors currently present in the silk market are
· Anhui Silk
· Zhejiang Jiaxin Silk Co., Ltd.
· Sichuan Nanchong Liuhe (Group) Co., Ltd.
· ShengKun Silk Manufacturing Co.,Ltd
· China Zhongsi Group Co., Ltd.
· Bolt Threads Inc.
· Spiber Technologies
· AMSilk GmbH
· Kraig Biocraft Laboratories
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Market Drivers:
· Low funds requirement for setting-up the manufacturing process of this particular product; this factor is expected to drive the market growth
· Increasing innovations and advancements in the production techniques resulting in growth of the market
Market Restraint:
· High level of dependency on China region for the raw materials required in the production of end-product; this factor is expected to act as a restraint to the market growth
Segmentation: Global Silk Market
· By Production Process
o Cocoon Production
o Reeling
o Throwing
o Weaving
o Dyeing
· By Type
o Mulberry Silk
o Tussar Silk
o Eri Silk
o Spider Silk
· By Application
o Textile
o Cosmetics & Medicine
· By Geography
o North America
o South America
o Europe
· Asia-Pacific
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