Fiber Optic Preform Market To Reach USD 20.6 Billion by 2032 CAGR: 13.4%. Report By DataHorizzon Research

Fort Collins, Colorado, Sept. 25, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Fiber Optic Preform Market Size, Growth, Share, Statistics Report, By Process (VAD, OVD, PCVD, MCVD), By Product (Single-mode, Multi-mode, Plastic Fiber Optic), By End-use (Telecommunication, Oil & Gas, BFSI, Medical, Railways), By Region, and Segment Forecasts, 2023-2032."      

According to DataHorizzon Research, The fiber optic preform market size was valued at USD 5.9 Billion in 2022 and is expected to reach USD 20.6 Billion by 2032 with a CAGR of 13.4%. The global fiber optic preforms market report comprehensively analyzes the latest trends and market scenarios. The report holistically offers the latest insights from the industry and discusses market opportunities.

Fiber Optic Preforms can be produced using several methods, such as chemical vapor deposition, inner vapor deposition, outer vapor deposition, and vapor axial deposition. Fiber optic cables are widely used in industries such as oil & gas, medical and defense facilities. Fiber optic preforms can be segmented according to usage across industries.

The demand for fiber optic technology is rising due to various factors, including increased internet usage and data consumption. This growth has been supported by continuous innovation in devices and the introduction of new technologies like 5G, with the development of 6G currently underway. As a result, there has been an increase in research and development for optical fibers, leading to a rise in demand. Additionally, data centers are expanding and requiring more data storage, further driving the market.

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Segmentation Overview:

The global fiber optic preform market has been segmented as process, product, end-use, and region. Based on the process, the VAD segment is leading and is projected to remain dominant in the forthcoming years. Multi-mode fibers will likely dominate the segment in the forthcoming years, attributed to an increased demand for data transmissions.

Asia Pacific is the leading region for the fiber optic preform market. The market growth is steady due to the increased use of preforms in the clinical industry. North America is the fastest-growing market, attributed to the larger demand in 2022.

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Fiber Optic Preform Market Report Highlights:

• The global fiber optic preform market is anticipated to reach USD 20.6 billion at a CAGR of 13.4% by 2032.

• The fiber optic preform market growth drivers comprise the rising use of internet services and the demand for high-speed data.

• OVD is the leading segment attributed to its quality and widespread applications. VAD is a fast-growing segment owing to its industrial feasibility and popularity.

• Asia Pacific is the leading region for fiber optic owing to the several growth opportunities in the regional markets. India and China are leading due to broader availability of consumer base, better services, and market expansion strategies.

• Some prominent players in the fiber optic preform market report include  Yangtze Optical Fiber And Cable Corning Incorporated, Sumitomo Electric Industries, Ltd., HENGTONG GROUP CO., LTD, Finolex, Fujikura Ltd., Furukawa Electric Co., Ltd., Hengtong Group Co., Ltd, Heraeus Holding, OFS Fitel LLC, Prysmian Group, STL - Sterlite Technologies Limited, and Cable Joint Stock Limited Company.

Key Developments in the Industry:

• In 2023, scientists evaluated if 3D printing could revolutionize the optical fiber industry. Professors from South Wales University have made a remarkable study on using additive manufacturing for fiber preforms using 3D applications.

• In 2023, OFS and Heraeus Conveyance collaborated to produce fiber optic cables in Denmark with objectives to cater to the EMEA market. 

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Fiber Optic Preform Market Report Segmentation:

Fiber Optic Preform Market, By Process (2023-2032)

• VAD
• OVD
• PCVD
• MCVD

Fiber Optic Preform Market, By Product (2023-2032)

• Single Mode
• Multi-Mode
• Plastic Fiber

Fiber Optic Preform Market, By End-use (2023-2032)

• Telecommunications
• Oil & Gas
• BFSI
• Medical
• Railways

Fiber Optic Preform Market, By Region (2023-2032)

• North America
  • U.S.
  • Canada

• Europe
  • U.K.
  • Germany
  • France
  • Rest of Europe

• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia Pacific

• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America

• Middle East & Africa
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of the Middle East & Africa

About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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