Portland, OR, March 15, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global optical fiber raw material market garnered $0.9 billion in 2021, and is estimated to generate $2.9 billion by 2031, manifesting a CAGR of 11.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $0.9 billion |
| Market Size in 2031 | $2.9 billion |
| CAGR | 11.9% |
| No. of Pages in Report | 490 |
| Segments covered | raw material, end-user industry, and region |
| Drivers | Surge in demand due to the rapid expansion of the automobile sector The usage of more innovative and energy-efficient technologies for vehicle components |
| Opportunities | Increasing emphasis on safety Rising demand for automobiles A preference for vehicles with improved safety features |
| Restraints | High installation costs of optical fiber cables coupled with a complex installation process |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global optical fiber raw material market, owing to implementation of global lockdown which resulted to temporary closure of vehicle production facilities.
- Curfew practices globally affected the domestic as well as international production of vehicle components, which, in turn, hampered the growth of the overall market.
- Supply chain was disrupted due to import & export restrictions. Manufacturers faced shortage of labor and unavailability of raw materials.
- Automobile industry experienced a huge loss in sale, especially in the initial period.
- However, the global optical fiber raw material market growth is likely to increase in the post-pandemic.
The research provides detailed segmentation of the global optical fiber raw material market based on raw material, end-user industry, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on raw material, the silicon tetrachloride segment held the highest share in 2021, accounting for nearly three-fourths of the global optical fiber raw material market, and is expected to continue its leadership status during the forecast period. This segment is expected to register the highest CAGR of 12.0% from 2022 to 2031.
Based on end-user industry, the IT and Telecome segment accounted for the highest share in 2021, contributing to more than two-fifths of the global optical fiber raw material market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the healthcare segment is expected to manifest the highest CAGR of 13.3% from 2022 to 2031.
Based on region, Asia-Pacific held the largest share in 2021, contributing to nearly two-third of the global optical fiber raw material market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 12.3% during the forecast period. The research also analyzes regions including North America, LAMEA, and Europe.
Leading market players of the global optical fiber raw material market analyzed in the research include Furukawa Electric Co., Ltd., Sumitomo Electric Industries, Sterlite Technologies Ltd., Reflex Photonics, Fujikura Ltd., Corning Inc., Finisar Corporation, Nexans S.A., Tata Communications Ltd., The Prysmian Group.
The report provides a detailed analysis of these key players of the global optical fiber raw material market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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