Optical Fiber Preform Market Set to Reach USD 13.2 Billion by 2026
According to the report, The global Optical fiber preform market in 2019 was approximately USD 3.8Billion. The market is expected to grow above a CAGR of 23.06% and is anticipated to reach over USD 13.2 Billion by 2026.
Fiber optics, or optical fibers, refers to flexible transparent fiber cables which are used as a medium of transmission of information in accordance with the principle of total internal reflection of light. The preforms are pieces of glass used to draw an optical fiber. The preforms are the first stage in the manufacturing of the optical fibers. Fiber optics is majorly used for laser delivery systems as well as light transmission and illumination.
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The rising demand for high bandwidth communication and rapid up-gradation and installation of fiber-rich network infrastructure are the major drivers for optical fibers and hence the preform market. Additionally, the demand for fiber optic cables has been rising owing to the tremendous rise in data traffic is anticipated to further catalyze the demand for optical fiber. The fiber optic preform market is evolving continuously with intensive research and development into the fiber optic technology which has enhanced the performance and suitability for applications in the oil and gas, medical, utilities, and defense industries. It is notable that the global market is highly saturated with a few multinational players well-positioned in the market. Owing to the market environment, many companies are engaging in mergers and acquisitions for business expansion and gaining a competitive advantage in the market.
The OVD segment is expected to generate the highest revenue over the forecast period. On the basis of product type, the multi-mode segment is expected to witness substantial growth over the forecast period. Multi-mode uses a much wider core compared to the single-mode and customarily uses a longer wavelength of light. Telecom is expected to be the largest segment and is projected to witness excellent growth over the forecast period. The Asia Pacific held the largest share in the global market and is projected to continue its dominance over the forecast period. The major revenue-generating markets in the Asia Pacific region are China, India, and Japan.
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Top Market Players
Major players operating in the global optical fiber preform market mentioned in this report include Yangtze Optical Fibre and Cable Joint Stock Limited Company, Shin-Etsu Chemical Co., Ltd, Sumitomo Electric Industries, Ltd., HENGTONG GROUP CO., LTD. and Corning Incorporated among others.
Facts & Factors
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