Optical fibers composed entirely of polymer optical materials are known as plastic optical fibers. Polymers make up the fiber core and cladding, as well as some buffer coatings and jackets. While plastic optical fibers cannot compare to glass fibers in terms of propagation losses or data transmission capacity, they are mechanically more resilient and allow for less expensive fiber-optic systems in particular applications.
Short-range optical data transfer, for example, in industrial environments, houses, and cars, is a typical application where the simpler handling and increased resilience are advantageous, while the higher propagation loss is tolerable.
The global plastic optical fiber industry is witnessing changes owing to the technological revolution of Automation, Telecommunication, Artificial Intelligence, Big data etc. This revolution which is also called Fourth Industrial Revolution has opened the ample business opportunities.
COVID-19 has resulted in a significant increase in the use of telehealth. COVID 19 pandemic has changed the mobility pattern of the people. What big companies of automobile were not able to do was done by the pandemic. Consumers are inclining towards buying the personal car. This change in customer behavior has increased the demand of automobile and hence boosted the demand of plastic optical fiber in automobile industry. The recurrence of COVID-19 cases in early 2021 has hampered the economy’s nascent recovery; manufacturing has stalled, and services activity has remained sluggish.
As the new applications and functionality are introduced in the automobile, the requirement for more and more data transfer are increasing. Thus, the demand for plastic optical fiber is increasing in the automobile.
The adoption of developing computer technology and automation characterized the third industrial revolution. The fourth industrial revolution will build on this by exploiting substantial technological developments made since the third industrial revolution, such as big data and machine learning, to include automation across all points of the supply chain.
Every second, massive amounts of data are generated by all parts of the industrial supply chain. Flexible and scalable IT infrastructures are required to connect, process, and analyses this data in real time. These infrastructures are best provided via fiber optic networks.
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On basis of material, Plastic Optic Fiber market is bifurcated into PMMA and Perfluorinated.
PMMA occupies the largest share of the market. PMMA provides the flexibility of the plastic material allows rough handling of the fiber, such as severe bending and stressing, without causing permanent damages.
Companies are strategizing to revive the business by employing various strategies like high investment in research and development, expanding the product portfolio to satiate the new market demands, regional expansion of business through strategy of mergers and acquisition, and utilizing the synergy obtained through these strategies to further its business opportunities.
The competition in the market is increasing as more and more industries are upscaling to satisfy the needs of Fourth Industrial revolution.
The world is moving towards greener products as a result of which manufacturer across the globe are innovating to make their products greener. It is also vividly seen that the companies which are offering more green products are attracting more investors and getting further approval and acceptance from the customers. Thus, companies need to pay attention towards green manufacturing which will essentially assist in acceptance in global market and eventually increase the market share.
The key players in Plastic Optic Fiber market are Mitsubishi chemical corporation, Toray group, AGC inc., Asahi kasei, Leoni, Jiangxi Daishing POF co. Ltd., Chromis Technologies and many more.
Key Market Segments: Global Plastic Optic Fiber Market
Important countries in all regions are covered.