The global silk market is projected to be valued at USD 16.94 billion, at a CAGR of 7.8%. 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.
♦ Download PDF Brochure - https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=110379892
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.
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.
Market Dynamics
Drivers
- Technological advancement in sericulture
- Low capital intensive industry
Restraints
- Higher dependency on china for raw material
Opportunities
- High demand from Indian textile industry
- Emerging spider silk
♦ Speak To Analyst - https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=110379892
The Asia-Pacific is projected to be the fastest-growing market for silk, in terms of value and volume, during the forecast period. China, India, Uzbekistan, and Thailand are the markets of silk in the Asia-Pacific region. The demand for silk is primarily driven by the increasing population & export of the textile goods made in these countries. Also, the domestic demand of silk in China and India is significantly influencing the demand of silk in the region.
Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : +1-888-600-6441
Email: newsletter@marketsandmarkets.com
Visit Our Website: https://www.marketsandmarkets.com/
No comments:
Post a Comment