The global silk market is projected to reach USD 16.94 billion by 2021, at a CAGR of 7.8% from 2016 to 2021. Silk is experiencing a high demand from the Asia-Pacific region mainly from China. Asia-Pacific is the largest producer of raw silk which makes it the region with easy availability of raw material. Silk find application majorly in textile industry. Increasing demand from textile industry promoted the usage of silk. Technological development in the sericulture industry is expected to further drive the silk market.
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Textile is the largest as well as fastest-growing application of silk market. Silk is used in textiles for its lustrous appearance, luxurious feel, lightweight, resilient, and strength. Silk material is used for wedding dresses, gowns, blouses, scarves, neckties as well as in many household products such as pillows, wall hangings, draperies, upholstery. Silk’s absorbency makes it quite comfortable to wear, especially, in warm weather. Its low conductivity keeps warm air close to the skin during cold weather. This increases the uses of silk for clothing such as shirts, ties, formal dresses, high fashion clothes, lingerie, pajamas, robes, dress suits, sun dresses, and kimonos.
Cosmetics & Medicine
Cosmetics & medicine is the another major application cluster of silk material. This application of silk is still in nascent stage and cater to a very small share of silk market. Silk fibroin is a natural protein which is used as a raw material for various cosmetic products. Silk is used in cosmetic cream, lotion, liquid soap, cleansing foam, shampoo, conditioner, and nail enamel. Silk polypeptide is used in shampoo, skin lotion, skin cream, cleansing cream, and soap owing to its excellent film making function. In medicine application silk-based biomaterials (SBBs) have been used clinically, viz. sutures for centuries.
The Asia-Pacific is the largest as well as the fastest growing market for silk. China leads the Asia-Pacific silk market, accounting for approximately 80% of the demand for silk in the region, owing to easy availability of raw silk. China is also the largest producer of raw silk and silk yarns globally, followed by India, Thailand, and Uzbekistan. China is the largest exporter of silk globally. The country is the world’s top textile exporter, accounting for approximately 40% of the world’s textile and clothing exports. The textile and clothing industry is the largest manufacturing industry in China with more than 20,000 enterprises. The growing demand for textile goods such as fabric and clothing in the Asia-Pacific region is expected to drive the silk market during the forecast period. The Asia-Pacific silk market is expected to grow further due to growing economy, rapid advancements in sericulture technology, and increasing application of silk in the textile industry.
Based on type, the mulberry silk segment is leading the silk market. Mulberry silk is gaining importance due to its unique properties such as high strength, elasticity, resilience, and absorbency. Mulberry silk is used with other fibers such as cotton to obtain better properties of the original silk. Furthermore, technological advancements in the sericulture industry is driving the silk market. The quality of silk is improving following innovations in sericulture to develop different breeds of silkworms. However, China is a major source of raw silk globally. Thus, high dependency on China for raw material can restrain the growth of the silk market.
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