Global Silk Market 2017-2021
Silk is a soft, shiny, and shimmering fiber that is processed into silk fabric. Silk is a natural protein fiber that is mainly composed of a protein fiber called fibroin. Silk is primarily produced by the larvae of silkworms and certain other insects such as web spinners, raspy crickets, bees, ants, and spiders. The silk that is derived from Mulberry silkworm yields the best silk. The cultivation of silkworms to produce silk is called sericulture or silk farming. Sericulture is a labor-intensive industry and is mostly concentrated in the rural regions of more than 50 countries across the globe. The entire process of the production of silk involves several steps.
Technavio’s analysts forecast the global silk market to grow at a CAGR of 7.42% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global silk market for 2017-2021. To calculate the market size, the report considers the retail selling price as the average selling price of the product.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Silk Market 2017-2021
Technavio recognizes the following companies as the key players in the global silk market: AMSilk, Anhui Silk, Kraig Biocraft Laboratories, Shengkun Silk Manufacturing, and Wujiang First Textile
Other Prominent Vendors in the market are: Bolt Threads, Camenzind, China Silk Corporation, Eastern Silk Industries, EntoGenetics, Jinchengjiang Xinxing Cocoon Silk, Sichuan Nanchong Liuhe, Spiber Technologies, Wensli Group, Wujiang Wanshiyi Silk, and Z&Z Digital Textile.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increasing R&D on spider silk. Certain fibers produced in nature possess remarkable properties in terms of strength, resilience, and flexibility. The increasing R&D on spider silk is due to its incredible toughness. The production of spider silk in commercial quantities holds the potential for use in life-saving ballistics-resistant materials. The characteristic of spider silk is well suited for ballistics-resistant material since it is lighter, thinner, more flexible, and tougher than steel. For instance, Kraig Biocraft Laboratories has developed a new technology and has acquired the exclusive right to use the patented genetic sequences for numerous fundamental silk proteins.”
According to the report, one of the major drivers for this market is Increasing requirement of silk in the textile industry. Sericulture has important socio-cultural implications. Sericulture is a labor-intensive industry wherein a large quantity of silk production is carried out in villages. For instance, in India, sericulture is carried out in about 54,000 villages, accounting for more than 60 lakh people employed in this industry. China is the largest producer of silk in the world, accounting for more than 70% of the global production. It is the leading exporter of silk, and about 90% of the exported silk is from China. With the increasing urbanization and disposable income, the demand for silk products, especially saris and readymade garments, is also increasing. Most weavers prefer Chinese silk for its superior quality and mix the imported silk along with the indigenous silk. For instance, India imports 6,000 tons of silk yarn from China annually.
Further, the report states that one of the major factors hindering the growth of this market is Health hazards during silkworm rearing. Workers in the sericulture industry are exposed to a number of health hazards. Various reproductive factors and menstrual risk factors for endometrial cancer have been observed in women workers. The sericulture industry is a labor-intensive industry, and the current silk production process is a blend of ancient techniques and modern innovations. Certain health risks associated with sericulture are due to the handling of diseased worms and their excreta with bare hands. In addition, the use of formalin and bleaching powder for disinfection and chromium to fix silk dyes also leads to skin irritation, ulcers, sensitization, and allergies.
AMSilk, Anhui Silk, Kraig Biocraft Laboratories, Shengkun Silk Manufacturing, Wujiang First Textile, Bolt Threads, Camenzind, China Silk Corporation, Eastern Silk Industries, EntoGenetics, Jinchengjiang Xinxing Cocoon Silk, Sichuan Nanchong Liuhe, Spiber Technologies, Wensli Group, Wujiang Wanshiyi Silk, and Z&Z Digital Textile.