Kraig Biocraft Laboratories, Inc. is participating in a market that is generally referred to as the technical textiles market. This market encompasses a wide range of products used for numerous applications. The specific sub-sectors the company is targeting can be broken down into two main areas: aramid fibers and ultra-high molecular weight polyethylene fibers.
The worldwide market for these fibers and other high performance technical fibers is currently estimated at approximately $90 billion per year, with the United States accounting for 50%+ of the market. According to a research report completed by Emerging Growth Research, the market has experienced significant growth over the past 10 years and is expected to continue to perform at a robust growth rate over the coming years.
While there are already man-made products well established in the marketplace, Kraig Biocraft's spider silk contains certain properties that are superior to these synthetically derived products. For example, although Kevlar can be measured to have greater tensile strength versus spider silk on a pound per pound basis, the product pales in comparison to spider silk's ability to absorb energy prior to fiber breakage. Additionally, products made using spider silk could be completely biodegradable, a feature that has been purposely engineered out of competing high-performance fiber products.
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