There is nothing new about spider silk, in fact it's been around a lot longer than we have, but what is new is how we can apply it to our world. Spider silk has been called the "super material of the future" and for good reason. It is more elastic than a rubber band and five times stronger than steel. It's comprised of protein chains for strength and unlinked areas for unrivaled flexibility and hold.
Already, scientists have gone to work developing a bullet proof vest alternative to Kevler. The result was a light-weight vest of 4 layers of spider silk (rather than the 33 layers of a Kevlar vest) that could repel a bullet from a .22-caliber rifle. Artificial skin for burn victims using mesh based from spider silk was developed by German scientists and in tests yielded stronger and healthier skin in patients.
With experiments progressing and new ideas being developed, spider silk use could change the world. Even if you're a little squeamish of spiders, take a look at this infographic for more.