Report : North America Metal Coated Fiber Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Material (Aluminum, Copper, Nickel, and Others), Coating Method (Freezing Method, Electroplating, Electroless Plating, and Others), and End User Industry (Oil and Gas, Defense and Aerospace, Medical, Telecommunication and Data Centers, Research & Development, and Others)
Aluminum Segment to Dominate North America Metal Coated Fiber Market during 2021–2028
According to a new market research study on “North America Metal Coated Fiber Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Material, Coating Method, and End User” is expected to reach US$ 27.95 million by 2028 from US$ 16.43 million in 2021. The market is estimated to grow at a CAGR of 7.9% from 2021 to 2028. The report provides trends prevailing in the North America metal coated fiber market along with the drivers and restraints pertaining to the market growth. Increasing Demand from harsh environment-related applications market is the major factor driving the growth of the North America metal coated fiber market. However, issues associated with the high cost of metal-coated fibers issues hinder the growth of North America metal coated fiber market.
The North America metal coated fiber market is segmented into material, coating method, end user, and country. Based on material, the North America metal coated fiber memory market is segmented into aluminum, copper, nickel, and others. The aluminum segment dominated the market in 2020 and copper segment is expected to be the fastest growing during the forecast period. Based on coating method, the North America metal coated fiber memory market is segmented into freezing method, electroplating, electroless plating, and others. The freezing method segment dominated the market in 2020 and segment is expected to be the fastest growing during the forecast period. Based on end user, the North America metal coated fiber memory market is segmented into oil and gas, defense and aerospace, medical, telecommunication and data centers, research & development, and others. The freezing method segment dominated the market in 2020 and segment is expected to be the fastest growing during the forecast period .Based on country, North America metal coated fiber market is classified into US, Canada, and Mexico.
North America is one of the worst affected economies due to the COVID-19 pandemic. The unprecedented rise in the number of COVID-19 cases across the US and Canada and the subsequent lockdown of numerous manufacturing facilities in the countries has negatively influenced the growth of the end use sectors. The significant disruption in manufacturing has had an impact on the demand for metal coated fibers in the region. The COVID-19 pandemic has also impacted the aerospace and defense industry. The pandemic’s impact on the aerospace and defense industry was immediate and profound. However, the market is reviving on account of the significant measures initiated by governing organizations across the region, such as vaccination drives. Various industries are also overcoming the challenges of supply chain disruptions of their raw materials. Many players are resuming pre-COVID investment plans as businesses gain confidence in stabilizing economies and anticipate increased demand. This is expected to provide the impetus for market growth.
AFL; Arts Photonics GMBH; FORC- Photonics; IVG fiber limited; Molex, LLC (Koch Industries, Inc.); OZ Optics Ltd.; Technical Fiber Products; and Thorlabs, Inc.are among the leading companies in the North America metal coated fiber market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
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