Luton, Bedfordshire, United Kingdom, Dec. 05, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Plastic Optic Fibers market.
The Global Plastic Optic Fibers market is expected to grow at 7.9% CAGR from 2022 to 2026. It is expected to reach above USD 4.5 billion by 2026 from USD 3 billion in 2022.
Plastic Optic Fibers Market Overview
Plastic or polymer optical Fibers are finding new uses in communication systems. Though plastic optical Fibers can be woven into textiles, signal loss due to mechanical damage is a problem both during the manufacturing process and once the product has been finished.
Polymer optical fibre, often known as plastic optical fibre (POF), is a type of optical fibre. Similar to glass optical fibre, POF transmits light through the fiber's core for lighting or data transmission. While other aspects are comparable, its robustness under bending and stretching is its main advantage over the glass product.
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Usage/ Applicants of Plastic Optic Fibres
Short-range network transmission, broadband access networks
Data communications
Decoration, illumination
Cave or automobile lighting and intelligence systems
Trends
The automation, telecommunication, artificial intelligence, big data, and other technological revolutions are causing changes in the global plastic optical fibre sector. Numerous commercial opportunities have been created by this transformation, often known as the Fourth Industrial Revolution.
Segmentation
Based on Type
Polymer Poly Methyl Methacrylate - The highest market share belongs to PMMA. PMMA offers the plastic material's flexibility and permits hard treatment of the fibre, such as extreme bending and stress, without resulting in long-term damage.
Perfluorinated
Others
Based on Mode
Single Mode
Multimode
Based on Application
Automation - Automation market growth is expected to be fueled by increased awareness of efficient energy usage, rising electricity prices, and technological advancements.
Industrial
Home Network
Consumer Electronics
Interconnections
Medical
Others
Challenges faced by Plastic Fibers Optic Market
Cannot sustain extreme temperatures
Cannot transmit long distances
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Key Players
Mitsubishi chemical corporation, Toray group, AGC Inc., Asahi kasei, Leoni, Jiangxi Daishing POF co. Ltd., Chromis Technologies and many more are major key players in Plastic Optic Fibers Market
Recent Developments
Toray Industries, Inc. has launched Low-Dielectric Loss PBT. This product has been launched for 5G Communications, Automated Driving and Intelligent Transportation Systems Applications.
Leoni has introduced three new fibre optic cables with UL approval.
Timbercon has acquired Radiall. This acquisition will be helpful for timbercon because it gives the opportunity to provide various types of better-quality products to consumers.
Industry News
Feb. 25, 2022, Mitsubishi Chemical Corporation (MCC; Head office: Chiyoda-ku, Tokyo; President: Masayuki Waga)announced that MCC’s bio-based engineering plastic "DURABIO™" has been adopted as the main body part (rear shaft) of Pilot Corporation’s (Pilot; Head office: Chuo-ku, Tokyo; President: Shu Itoh) ballpoint pen "Acroball T Series Biomass Plastic" and "FRIXION Ball Knock 05 Biomass Plastic."
Market Drivers
The demand for greater and more data transfer is growing as new automotive applications and features are launched. As a result, the need for plastic optical fibre in vehicles is rising.
The market is being fueled by the expansion of the 5G network, the increased usage of fibre-to-the-home (FTTH) connectivity, and the growth of the Internet of Things (IoT). Furthermore, technological advances in fibre optic cable technology and an increase in investments in optical fibre cable (OFC) network infrastructure are likely to present the market with attractive prospects.
Regional Analysis
North America includes the United States, Canada and Mexico
Europe includes Germany, France, UK, Italy and Spain
South America includes Colombia, Argentina, Nigeria and Chile
Asia-Pacific includes Japan, China, Korea, India, Saudi Arabia and Southeast Asia
Asia-Pacific influences the plastic optical fibre market as increase in penetration of optical fibre technologies. North America looks forward to witnessing noteworthy growth during the forecast period of 2021 to 2028 as high adoption of advanced technologies in the region.
The plastic optical fibre industry in Europe, notably in nations such as the United Kingdom, Germany, and France, has been rapidly developing due to rapid industrialization. Norway and the Netherlands are also projected to make important contributions to the region's plastic optical fibre sector. Growth in the European market can be attributed to favourable government policies.
Advantages of Plastic Optic Fibres:
Very flexible in tight spaces
Durable and strong
Lightweight
Can withstand vibration and unstable environments
Lower cost compared to glass
Easy to install
Less signal attenuation than glass Fibers –
Can be cut to length in the field
FAQ
What are the growth opportunities related to the Plastic Optic Fiber across major regions in the future?
What are the new trends and advancements in the Plastic Optic Fiber market?
Which applications are expected to have the highest growth rate in the market?
Which are the key factors driving the Plastic Optic Fiber market?
What will the market growth rate, growth momentum or acceleration the market carries during the forecast period?
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