What will Be the Market Share of Silk Market in Upcoming Year?


Posted January 15, 2019 by abhijeetw1

[110 Pages Report] The global silk market is projected to be valued at USD 16.94 billion by 2021, at a CAGR of 7.8% from 2016 to 2021.

 
The report "Silk Market by Type (Mulberry Silk, Tussar Silk, and Eri Silk), Application (Textile, and Cosmetics & Medical), and Region (Asia-Pacific, North America, Europe, Middle East & Africa, and South America) - Global Forecast to 2021", The global silk market is projected to reach USD 16.94 Billion by 2021, at a CAGR of 7.8% from 2016 to 2021.

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The silk market has several global players competing for market shares. Major manufacturers such as Anhui Silk Co. Ltd. (China), Kraig Biocraft Laboratories, Inc. (U.S.), Wujiang First Textile Co., Ltd. (China), Wujiang Wanshiyi Silk Co., Ltd. (China), and Zhejiang Jiaxin Silk Corp., Ltd. (China) have been profiled in the report.

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
For More Info: https://www.marketsandmarkets.com/Market-Reports/silk-market-110379892.html

Based on type, the mulberry silk segment is projected to lead the silk market during the forecast period

Based on type, the mulberry silk segment is projected to lead the silk market. Owing to its high strength, durability, and flexibility, mulberry silk is used in the production of textile such as apparel, wedding dresses, gowns, blouses, scarves, neckties as well as in interiors such as pillows, wall hangings, draperies, and upholstery. The growing textile industry in the Asia-Pacific region is driving the demand for mulberry silk in the Asia-Pacific region.

Textile is the largest application segment of the silk market

Textile is the largest application segment of the silk market, owing to an increase in demand for silk products from textile industries in Asia-Pacific and Europe. Silk is used in the textile industry as it is lustrous, luxurious, lightweight, resilient, stain-resistant, and strong.

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Issued By marketsandmarkets
Country United States
Categories Business , Industry , Manufacturing
Tags silk , silk market , tassar silk market
Last Updated January 15, 2019