Covid-19 Analysis on Silk Market: Demand, Size, Share, Trends, Key Player profile and Regional Outlook by 2025

04/set/2020 15:16:06 Tejas Amale Contatta l'autore

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According to the MRFR analysis, the Global Silk Market is projected to register a CAGR of 7.91% during the forecast period to reach USD 22.78 billion by 2025.

Silk is a natural fiber obtained from different species of arthropods such as silkworms, mites, and spiders. Silk owing to its characteristics such as highly lustrous, soft and glossy appearance is extensively used in the textile industry. For instance, in India, MUGA silk on the account of its high exquisite appearance is used to make sarees and dresses. Thus, the increasing use of silk fiber in the textile industry is expected to drive the global market growth. However, the high cost of silk is likely to pose a limitation to the growth of the silk market during the forecast period.

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Pricing and Regulations

In 2018, the product was priced around USD 42,000–51,000 per ton across the globe.

Some of the methods for textile analysis are:

  • American Society for Testing and Materials: ASTM D2256 – 02- Standard Test Method for Tensile Properties of Yarns by the Single-Strand Method
  • American Society for Testing and Materials: ASTM D276 – 12 Standard Test Methods for Identification of Fibers in Textiles
  • The International Organization for Standardization: ISO 21046:2018(en)- Test method for determining the size of silk yarns

Global Trade

The global silk import and export in 2018 was valued at USD 440,051 thousand and USD 400,813 thousand, respectively.

SEGMENTATION

By Type

  • Mulberry Silk: This is the most common silk among all the types and constitutes 89% of the total silk supply in the world. The segment accounted for the largest market share in 2018 and is expected to be the fastest-growing segment during the forecast period. Mulberry silk is the highest quality of silk available and is known for its high lustrous and elegant appearance. Due to the aforementioned properties, it finds a foray of applications in the textile industry to produce expensive garments and other textile products such as cushions, sofa covers, and drapes.
  • Non-Mulberry Silk: Different types of silk are obtained depending upon the type of silkworm from which they have been obtained. Some of the known non-mulberry silk varieties of commercial importance are:
    • Eri Silk: The eri silk is widely used in preparing winter shawls, traditional dresses, and blankets.
    • Tasar Silk: Tasar silk is obtained from wild silkworms and is the second most-produced silk after mulberry silk. This silk type is mainly extracted from wild forest cocoon from India and is used as a base material for furnishing fabrics and printed apparel.
    • Muga Silk: This type of silk is known for its extreme durability and natural golden color. Some of the garments made from muga silk are chaddar, chapkan, and mekhela.
    • Spider Silk: These are protein fibers used by spiders to make the webs. Spider silk is widely used in biomedical applications on the account of its unique combination of high strength and rupture elongation properties.
    • Others: This segment includes Anaphe silk, Fagara silk, Coan silk, and Mussel silk.

By End-Use Industry

  • Textile: The largest segment in 2018 owing to the high demand for silk fabric to produce various apparel and other textile fabrics such as organza, chiffon, and pongee. Additionally, in order to diversify the applications of the product, silk is often blended with lyocell and polyester. This is thus augmenting the demand for silk in the textile industry. The segment is expected to showcase robust growth in the coming years owing to increasing usage of the product in the expanding textile industry across developing economies in the world. In addition, the increasing demand for blended silk fabrics is further propelling the demand for silk.
  • Healthcare: Silk on the account of high biocompatibility and unique mechanical properties finds numerous applications in tissue engineering, drug delivery, dental sealants, and surgical implants. For instance, spider silk is widely used to coat the outer surface of the implant material to improve performance characteristics. However, the applications of silk in the healthcare sector are still in its incipient stage, thus offers lucrative opportunities for the key players operating in the silk market.
  • Personal Care & Cosmetics: The growth of the segment is attributed to the increasing demand for silk protein on the account of skin elasticity, antiwrinkle, and antiaging properties in skin cosmetics.

By Region

  • Asia-Pacific: It accounted for the largest market share in 2018 and is projected to be the fastest-growing regional market owing to the expanding textile industry. China, followed by India and South-East Asian countries, is the leading country on the account of the presence of major key players and rising disposable income among the consumers. Additionally, the increasing textile exports from the region is further driving the regional market growth.
  • North America: The increasing demand for silk polymers in the medical industry to manufacture medical devices such as sutures, implants, and dental sealants is expected to fuel the growth of the regional market.
  • Europe: The European market is expected to witness significant growth during the forecast period owing to the increasing demand for silk proteins, sericin, and fibroin, to produce skin, hair and nail cosmetics.
  • Latin America: The regional market is witnessing sluggish growth; however, the growing textile industry is expected to fuel the demand for silk during the review period.
  • Middle East & Africa: The increasing product usage in expanding textile and cosmetics industries is the major factor contributing to the regional market growth. Saudi Arabia, Turkey, and UAE are the key countries in the region contributing to the regional market growth.

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NOTE: Our team of researchers are studying Covid19 and its impact on various industry verticals and wherever required we will be considering covid19 footprints for a better analysis of markets and industries. Cordially get in touch for more details.

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