ALBANY, New York, May 23, 2018 /PRNewswire/ --
The global metal-coated fibers market is projected to expand above CAGR of 9.0% during the forecast period, according to a new research report by Transparency Market Research (TMR) titled 'Metal-coated Fibers Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017-2026.' According to the report, the global metal-coated fibers market value is expected to surpass around 79 Mn by 2026. Expansion of the global metal-coated fibers market is attributable to the increasing research and development regarding metal-coated fibers and their applications in high-temperature sensing and cryo sensing. The market is also expected to be boosted by high demand for these fibers due to their properties such as high corrosion resistance and high mechanical strength. The metal-coated fibers market in Asia Pacific is anticipated to expand at a CAGR of above 9.5% due to increase in focus on extensive research and expansion in the oil & gas, power generation, nuclear reactors, health care, and defense & aerospace sectors.
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Increase in Focus on Innovative Metal-coated Fiber Products, Rise in R&D Activities, and Expansion of the Oil & Gas Industry to Drive Market
The global metal-coated fibers market is dynamic and versatile. The market is anticipated to reach above US$ 79 Mn by 2026, expanding at a CAGR of more than 9.0% from 2018 to 2026. The metal-coated fibers market offers a broad material portfolio, which increases its significance for diversified sectors such as medical, oil & gas, defense & aerospace, etc. Since 2015, demand for metal-coated fibers has been rising at a more rapid pace compared to that for plastic- coated optical fibers in sensing applications, owing to attributes of metal-coated fibers such as high temperature resistance, corrosion resistance, and provision of hermetic sealing. Significant opportunities for innovation and development of new and upgraded metal-coated fibers products exist in the market. Substantial expansion in the oil & gas industry and the increasing trend of using advanced composites in the aerospace and nuclear industries are likely to boost the market in the next few years. The defense & aerospace sector has been expanding at a steady pace and is projected to expand slightly in the next few years. Metal-coated fibers are used in the sector to provide cryosensing and structural strength to composites. However, increase in concerns about technical deformities while coating and micro bending long fibers is expected to hamper the metal-coated fibers market during the forecast period.
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Rise in Demand for Advanced Metal-coated Fiber Materials in Medical and Defense & Aerospace Sectors Likely to Augment the Market
In terms of material, metal-coated fibers market has been sub-segmented into aluminum, copper, nickel, gold, silver, and others. Copper is a highly attractive segment of the global metal-coated fibers market. Nickel and aluminum are anticipated to be rapidly expanding segments in the next decade. Demand for gold-coated fibers is increasing rapidly, due to their excellent corrosion resistance. The ability to be soldered or brazed makes them ideal for high-temperature applications. In terms of material, the others segment consists of alloys, ceramic materials, carbon nanotube, etc. that are coated on fibers for high-temperature and high-strength applications. Many researchers are conducting research for obtaining effective coating of these materials on fiber surfaces.
Based on fiber, the metal-coated fibers market has been segmented into single mode, multimode, and others. Single-mode fibers are generally used for long-distance transmissions. Aluminum and copper are widely used coating materials for multimode optical fibers in the market.
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Based on coating method, the metal-coated fibers market has been classified into freezing method, electroplating, electroless plating, and others. In terms of method, the electroless plating segment is expected to be an attractive and rapidly expanding segment in the next decade, owing to the method's low cost of manufacturing.
In terms of revenue, the multimode fibers segment held a major share of over 40% of the global metal-coated fibers market in 2017. Based on material, the copper and nickel segments together accounted for more than 55% share of the market in 2017.
Oil & Gas Segment to Dominate the Global Metal-coated Fibers Market
Based on end-use, the market has been divided into oil & gas, research & development, medical, defense & aerospace, telecommunication & data centers, and others. Among these, the oil & gas segment holds a major share of the metal-coated fibers market, followed by the research & development segment. Many OEMs such as AIRBUS have been collaborating with research institutes on international multidisciplinary research projects for increasing R&D activity in order to develop multi-purpose metal coated fibers for various industries. The trend is likely to continue throughout the forecast period. Demand for metal-coated fibers used in distributed temperature sensors for down hole oil well monitoring is expected to increase. The consumption of metal-coated fiber products in the oil & gas and medical industries is increasing in several developing countries such as India, Brazil, and Mexico.
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Asia Pacific Anticipated to Dominate the Global Market
In terms of geography, the global metal-coated fibers market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of consumption, Asia Pacific is anticipated to hold a major share of the global market in 2017.This is due to rapid expansion of the oil & gas, power generation, nuclear reactors, health care, and defense & aerospace sectors, which is boosting demand for metal-coated fibers in fiber optic sensing applications that involve harsh environments, high temperatures, cryogenic conditions, risk of corrosion, etc.. Increase in research activities and investments is making the region highly attractive for metal-coated fiber manufacturers. Europe is a prominent region of the metal-coated fibers market, due to technical advancements in end-use industries in the region. Russia is rich in oil field reserves. It is a prominent producer of oil in Europe. In the oil & gas industry, metal-coated fibers are used for downhole sensing, exploration, and pipeline monitoring. The metal-coated fibers market in Middle East & Africa is expected to expand at a rapid pace during the forecast period, owing to rise in demand for metal-coated fibers from oil well downhole sensing projects.
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Metal-coated Fibers is in Nascent Stage and has Huge Potential for Growth during the Forecast Period
Very few players operate in the market that have commercialized metal-coated fibers. Companies have their own technologies to manufacture products. Key market players covered in the report are Fiberguide Industries, Inc., IVG Fiber Ltd, Oz Optics Limited, Art Photonics GmbH, Conductive Composites Co. LLC, Technical Fiber Products Limited, Engineered Fibers Technology, LLC, LEONI etc. They are investing in developing new products, leveraging patented technology and proprietary expertise, and developing relations with new customers and extending existing relationships.
Global Metal-coated Fibers Market, by Material (Revenue US$ Mn; 2017-2026)
Global Metal-coated Fibers Market, by Fiber (Revenue US$ Mn; 2017-2026)
- Single Mode Fibers
- Multimode Fibers
Global Metal-coated Fibers Market, by Coating Method (Revenue US$ Mn; 2017-2026)
- Freezing Method
- Electro less Plating
Global Metal-coated Fibers Market, by End-use (Revenue US$ Mn; 2017-2026)
- Oil & Gas
- Research & Development
- Defense & Aerospace
- Telecommunication & Data Centers
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