23 January 2023, Mumbai
At the outset, it is imperative to underline that," Textile Application Is the key catalyst/force-multiplier fuelling the demand in the silk market globally".
Many reasons why silk continues to drive textile application as a growth engine on account of its inherent properties & features viz. its lustrous appearance, luxurious feel, lightweight, resilient, and robust power/strength. Use cases; There are a bunch of popular applications going in several types of clothing/apparel amongst them are wedding dresses, gowns, blouses, scarves, and neckties needless to say in numerous household products such as pillows, wall hangings, draperies, upholstery, and many more imaginable use cases.
Excellent Silk fiber's absorbency unquestionably makes a case for wearing comfort, particularly, in warm weather besides it possesses relatively low conductivity helping keep hot air pretty close to the human skin let us say in cold conditions.
All this makes the following use cases possible like apparel types shirts, neckties (a very active application), formal/semi-formal dresses, high-end fashion ensembles, lingerie/brasseries, leggings, ward-robes, dress suits, sarees ( traditionally Indian ladies wear) sun dresses, and kimonos amongst many more so to say.
Size and scope
Devyani Sharma, Senior Business Analyst (Textile and Fabrics ) earlier reports mentioning," Stepping back, the silk market worldwide in the recent past was likely to be valued at around USD 16.94 billion by the year 2021, at a reasonable cagr 7.8% or thereabouts in the period 2016 to 2021.
It does not surprise many that structurally on the back of the growing demand tailwind of textile goods per se in (APAC), the Asia-Pacific region silk products growth is shot up helping the global silk market to grow sanguinely and is highly likely that, the uptick in this growth story is secular in the coming years.
The report also brings to the fore very interesting insights; Developments like Bolt Threads Inc. introduced its maiden intrigue product like necktie produced out of spider silk in March 2017. AMSilk GmbH forayed in September 2016 into distribution agreements with Hanjoo C&C, a Korean-based company which meant the distribution of its product could be affected in the Pan-Asian market to drive the point home.