Aluminum Segment to Dominate MEA Metal Coated Fiber Market during 2021–2028
According to The Insight Partners market research study on “MEA 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$ 5.76 million by 2028 from US$ 3.46 million in 2021. The market is estimated to grow at a CAGR of 7.5% from 2021 to 2028. The report provides trends prevailing in the MEA metal coated fiber market along with the drivers and restraints pertaining to the market growth. Product innovations is the major factor driving the growth of the MEA metal coated fiber market. However, issues associated with the high cost of metal-coated fibers issues hinder the growth of MEA metal coated fiber market.
The MEA metal coated fiber market is segmented into material, coating method, end user, and country. Based on material, the MEA 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 MEA 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 MEA 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, MEA metal coated fiber market is classified into South Africa, Saudi Arabia, UAE, and Rest of MEA.
In the Middle East and Africa region, South Africa is among the major countries with a high number of COVID-19 confirmed cases and deaths. The COVID-19 pandemic has had a severe impact on the economy of the Middle East & Africa. The pandemic has significantly slowed down the growth of the metal coated fibers market in the region due to negative impacts upon the growth of various industries. The COVID-19 pandemic has impacted the oil and gas industry. As a result of lockdowns and stay-at-home orders, consumption of oil has been reduced. The demand for metal coated fibers in the region is improving in the region and is expected to grow during the forecast period.
AFL; Molex, LLC (Koch Industries, Inc.); OZ Optics Ltd.; and Thorlabs, Inc.are among the leading companies in the MEA 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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