The global fiber optic preform market size is anticipated to reach USD 8.66 billion until 2025. It is anticipated to register growth with 19.6% CAGR during the forecasted period, 2019 to 2025. This growth can be attributed to the rising number of innovations being carried out in the technology of fiber optics to serve the surging demand for good network infrastructure across the telecom sector.
Fiber optics are largely being used across segments like oil & gas, BFSI, telecom, railways, military & aerospace, medicals, and others. Among them, the telecom segment held the largest share across the market on account of the usage of such fibers for developing a high bandwidth communication network. The segment of military and aerospace is also anticipated to generate significant growth in the upcoming years.
The process segment of OVD (Outside Chemical Vapor Deposition) held a share of 35.6% across the global market in 2018. On the other hand, the segment of VAD (Vapor Phase Axial Deposition) is anticipated to register the fastest growth in the upcoming years. Around 50% of the fiber optic used across the telecommunication sector is being manufactured by the VAD process.
In 2018, Asia Pacific dominated the regional market with a total share of around 67.0% across the globe on account of rapid industrialization and undertaking of several projects of capacity expansion across countries like China and India. These projects being undertaken by the key players are anticipated to reduce the gap of supply thereby driving the market growth. Such projects are anticipated to produce around 3,000 tons of preform which can support the latest fiber capacity from 55 to 90 million kilometers.
The fiber optic preform market is concentrated with key players such as Corning Incorporated, Prysmian Group, AFL, Fujikura Ltd., and Optical Cable Corporation. They are engaged in implementing several marketing strategies like acquisitions, mergers and technological advancements to gain competitive advantage over the other players. Also, huge investments are being carried out by these players for innovation and product development.
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Further key findings from the report suggest:
• In 2018, the telecom end user segment dominated the global market and is projected to witness significant growth in the upcoming years.
• The OVD process segment held the largest share of around 35.6% across the global fiber optic preform market.
• The Asia Pacific dominated the regional market with a share of around 67.0% across the globe.
• The key players in this market are Corning Incorporated, Prysmian Group, AFL, Fujikura Ltd. and Sterlite Technologies Limited.
Million Insights has segmented the global fiber optic preform market on the basis of process, product type, end user, and region:
Fiber Optic Preform Process Outlook (Revenue, USD Million, 2014 - 2025)
Fiber Optic Preform Product Type Outlook (Revenue, USD Million, 2014 - 2025)
• Single-Mode Fiber Optic
• Multi-Mode Fiber Optic
• Plastic Optical Fiber Optic
Fiber Optic Preform End User Outlook (Revenue, USD Million, 2014 - 2025)
• Oil & Gas
• Military & Aerospace
Fiber Optic Preform Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• Asia Pacific
• South America
• Middle East & Africa