The global silk market is projected to be valued at USD 16.94 billion by 2021, at a CAGR of 7.8% from 2016 to 2021. In this study, 2015 has been considered the base year and 2016 to 2021, the forecast period, to estimate the global market of silk. The growing demand in the Asia-Pacific, coupled with the growing demand for textile goods is expected to drive the global silk market during the forecast period.
◘ Textile application is driving the demand in silk market
Textile is the fastest-growing application of silk. Silk is an important contributor to the textile industry which is continuously growing and evolving in terms of demand and supply. Silk is used in textiles for its lustrous appearance, luxurious feel, lightweight, resilient, and strength. It is used in many types of apparel such as wedding dresses, gowns, blouses, scarves, neckties as well as in many household products such as pillows, wall hangings, draperies, upholstery.
Browse 88 market data tables and 29 figures spread through 110 pages and in-depth TOC on “Silk Market”
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Market Dynamics
Drivers- Technological advancement in sericulture
- Low capital intensive industry
- Higher dependency on china for raw material
- High demand from Indian textile industry
- Emerging spider silk
- High Cost of Material
- Labor Intensive Industry
Textile is the fastest-growing application of silk. Silk is an important contributor to the textile industry which is continuously growing and evolving in terms of demand and supply. Silk is used in textiles for its lustrous appearance, luxurious feel, lightweight, resilient, and strength. It is used in many types of apparel such as wedding dresses, gowns, blouses, scarves, neckties as well as in many household products such as pillows, wall hangings, draperies, upholstery.
Browse 88 market data tables and 29 figures spread through 110 pages and in-depth TOC on “Silk Market”
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Major Market Developments:
- In March 2017, Bolt Threads Inc. started its first product made of spider silk. It introduced tie made of spider silk.
- In September 2016 AMSilk GmbH entered into distribution agreements with Korean-based company Hanjoo C&C for the distribution of its product in the Asian market. It distributes AMSilk products, Silkbeads (microparticles), and Silkgel (hydrogel) in Korea.
- In June 2016, AMSilk GmbH entered into an agreement with Zurich based company, RAHN AG, to distribute two ingredients made from AMSilk, Silkgel, and Silkbeads.
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