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24/7 Market News: Kraig Labs Spider Silk is Sustainable Alternative to Petroleum-Derived Plastics
Globenewswire· 2025-09-17 13:10
Core Insights - Kraig Biocraft Laboratories (OTCQB: KBLB) is positioned to address the environmental threat posed by microplastics through its development of spider silk technology, which offers a biodegradable alternative to synthetic fibers like nylon and polyester [1][2][3] Industry Overview - The global apparel fibers market was valued at approximately USD 223.8 billion in 2024, with synthetic fibers accounting for around 59% of this total [4] - The polyester fiber market was valued at about USD 118.5 billion in 2023 and is projected to reach USD 191.6 billion by 2030, growing at a CAGR of 7.3% [4] - The nylon fiber market is expected to grow from USD 8.44 billion in 2024 to around USD 12.92 billion by 2032, reflecting a CAGR of 6-7% [5] Environmental Impact - Over 35% of microplastics in the ocean originate from synthetic textiles, which contribute to ecological harm as they enter food chains and drinking water [8] - Conventional plastic-based clothing can take centuries to decompose, creating long-term landfill burdens [8] Company Developments - Kraig Labs is preparing to deliver its first spider silk yarn samples to three prospective customers, aimed at validating the commercial readiness of spider silk and establishing sustainable apparel supply chains [7] - The company's proprietary spider silk, derived from genetically engineered silkworms, is designed to meet the growing demand for eco-friendly textiles in luxury, technical, and performance apparel categories [6][9]
24/7 Market News: Kraig Labs Spider Silk is Sustainable Alternative to Petroleum-Derived Plastics
Globenewswire· 2025-09-17 13:10
Core Insights - The article highlights the environmental threat posed by nylon and polyester, which are significant sources of microplastics, and positions Kraig Biocraft Laboratories as a leader in providing a sustainable alternative through spider silk technology [1][3]. Industry Overview - The global apparel fibers market was valued at approximately USD 223.8 billion in 2024, with synthetic fibers, including polyester and nylon, accounting for around 59% of this market [4]. - The polyester fiber market was valued at about USD 118.5 billion in 2023 and is projected to grow to USD 191.6 billion by 2030, reflecting a CAGR of 7.3% [4]. - The nylon fiber market is expected to increase from USD 8.44 billion in 2024 to around USD 12.92 billion by 2032, with a CAGR of 6-7% [5]. - The broader nylon/polyamide market, including non-apparel uses, was valued at USD 31.09 billion in 2023, with forecasts estimating growth to USD 48.86 billion by 2032 [5]. Environmental Impact - Over 35% of microplastics in the ocean originate from synthetic textiles, which enter ecosystems and food chains, causing ecological harm [9]. - Conventional plastic-based clothing can take centuries to decompose, leading to long-term landfill issues [9]. Company Positioning - Kraig Biocraft Laboratories is focused on developing and commercializing spider silk-based fiber technologies, which are biodegradable and do not contribute to microplastic pollution [6][11]. - The company is preparing to deliver its first spider silk yarn samples to prospective customers to validate the commercial readiness of its product [7].
Material World: AMSilk Secures Over $60M to Scale, Sealwool’s Biomimetic Twist
Yahoo Finance· 2025-09-11 18:30
AMSilk Overview - AMSilk has transitioned to full-scale production, indicating strong commercial validation and readiness to meet market demand for biofabricated materials [1] - The company has installed dedicated production facilities at key industrial partners to manufacture its proprietary silk-based protein materials [1] Funding and Growth - AMSilk secured €52 million (approximately $61.1 million) in funding, which will be used to scale up production and establish a new industry for high-performance biotech materials [5] - The funding round was led by Athos, with participation from MIG Capital and Novo Holdings, combining $35.25 million in equity and $22.85 million in convertible bonds, reflecting strong investor confidence [4] Production Agreements and Strategy - AMSilk has entered into multi-year production agreements to establish a long-term basis for industrial output and supply reliability [2] - The company is focused on creating robust processes and resilient supply chains to deliver on its industrial commitments and scale its biomaterials for global markets [3]
Eastman Partners With Huafon to Build New Yarn Facility in China
ZACKS· 2025-08-22 15:51
Core Insights - Eastman Chemical Company (EMN) has formed a strategic partnership with Huafon Chemical to establish a joint manufacturing facility in China, focusing on localized production and innovation of Naia cellulose acetate filament yarns [1][2]. Company Developments - The partnership enhances EMN's market presence in China, the largest textile supply-chain hub, allowing for a quicker supply-chain response to the rising demand for sustainable textile solutions [2]. - This collaboration is expected to increase EMN's production capacity and improve innovation and product development capabilities for Naia yarns, aligning with the company's goal of making sustainable textiles more accessible [2][3]. - The joint facility will utilize local advantages and international resources to create a fully integrated localized chain that encompasses technological innovation, product development, production, and services [3]. Market Context - EMN's stock has experienced a decline of 32.1% over the past year, compared to a 20.6% decline in the industry [5]. - The company is navigating a challenging global macroeconomic environment, with cautious customer behavior due to changing tariffs and soft demand [6]. - EMN anticipates benefits from cost-reduction initiatives and increased revenues from its Kingsport methanolysis facility, projecting third-quarter adjusted earnings of approximately $1.25 per share and an operating cash flow of around $1 billion for the full year [6].