Optical Fiber Cables Market

The global optical fiber cables market is poised for growth, with consumption expected to increase by 2.0% annually, reaching 2.2M tons by 2030. In value terms, the market is forecasted to grow by 4.8% per year, reaching $29.6B by 2030. China, South Africa, and the United States are the top consuming countries, with South Africa showing the highest growth rate. Production figures, import trends, and export patterns are also discussed in the article.

Market Forecast

Driven by increasing demand for optical fiber cables worldwide, the market is expected to continue an upward consumption trend over the next eight-year period. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +2.0% for the period from 2022 to 2030, which is projected to bring the market volume to 2.2M tons by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +4.8% for the period from 2022 to 2030, which is projected to bring the market value to $29.6B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Optical Fiber Cables

In 2022, approx. 1.9M tons of optical fiber cables were consumed worldwide; rising by 7.3% compared with the previous year's figure. Overall, the total consumption indicated a prominent expansion from 2012 to 2022: its volume increased at an average annual rate of +5.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +63.5% against 2012 indices. Over the period under review, global consumption attained the peak volume in 2022 and is expected to retain growth in the near future.

The global optical fiber cables market value fell to $20.4B in 2022, standing approx. at the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). The market value increased at an average annual rate of +3.1% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the global market attained the maximum level at $20.5B in 2021, and then contracted in the following year.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (275K tons), South Africa (271K tons) and the United States (211K tons), with a combined 40% share of global consumption.

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by South Africa (with a CAGR of +72.0%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, the largest optical fiber cables markets worldwide were the United States ($2.6B), China ($1.9B) and South Africa ($1.5B), together comprising 30% of the global market.

Among the main consuming countries, South Africa, with a CAGR of +71.2%, saw the highest growth rate of market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

In 2022, the highest levels of optical fiber cables per capita consumption was registered in Kuwait (13 kg per person), followed by South Africa (4.5 kg per person), Canada (1.6 kg per person) and the UK (1.2 kg per person), while the world average per capita consumption of optical fiber cables was estimated at 0.2 kg per person.

In Kuwait, optical fiber cables per capita consumption contracted by an average annual rate of -2.9% over the period from 2012-2022. The remaining consuming countries recorded the following average annual rates of per capita consumption growth: South Africa (+69.3% per year) and Canada (+8.7% per year).

Production

World Production of Optical Fiber Cables

After three years of growth, production of optical fiber cables decreased by -6% to 1.6M tons in 2022. The total output volume increased at an average annual rate of +3.8% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 with an increase of 13% against the previous year. Global production peaked at 1.7M tons in 2021, and then contracted in the following year.

In value terms, optical fiber cables production reduced modestly to $17.8B in 2022 estimated in export price. The total output value increased at an average annual rate of +3.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 when the production volume increased by 20%. Over the period under review, global production hit record highs at $19.3B in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Production By Country

China (685K tons) remains the largest optical fiber cables producing country worldwide, comprising approx. 43% of total volume. Moreover, optical fiber cables production in China exceeded the figures recorded by the second-largest producer, the United States (204K tons), threefold. Russia (63K tons) ranked third in terms of total production with a 3.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume in China totaled +9.9%. The remaining producing countries recorded the following average annual rates of production growth: the United States (+2.2% per year) and Russia (+3.0% per year).

Imports

World Imports of Optical Fiber Cables

For the third consecutive year, the global market recorded growth in overseas purchases of optical fiber cables, which increased by 37% to 1.1M tons in 2022. Over the period under review, imports posted a buoyant expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, optical fiber cables imports skyrocketed to $11.4B in 2022. Overall, imports enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2021 with an increase of 31% against the previous year. Over the period under review, global imports attained the peak figure in 2022 and are expected to retain growth in years to come.

Imports By Country

South Africa represented the main importer of optical fiber cables in the world, with the volume of imports recording 273K tons, which was approx. 24% of total imports in 2022. Mexico (96K tons) ranks second in terms of the total imports with an 8.5% share, followed by Canada (5.6%), the UK (5.5%), the Philippines (4.8%) and Brazil (4.8%). The following importers - Indonesia (50K tons), France (34K tons), Ireland (29K tons), Singapore (20K tons), Germany (20K tons) and Thailand (18K tons) - together made up 15% of total imports.

South Africa was also the fastest-growing in terms of the optical fiber cables imports, with a CAGR of +53.1% from 2012 to 2022. At the same time, Ireland (+49.7%), Brazil (+32.1%), France (+24.7%), the UK (+22.9%), Indonesia (+22.4%), the Philippines (+20.1%), Mexico (+10.3%), Canada (+9.6%), Germany (+9.1%), Singapore (+5.9%) and Thailand (+1.6%) displayed positive paces of growth. While the share of South Africa (+23 p.p.), Brazil (+3.9 p.p.), the UK (+3.4 p.p.), Indonesia (+2.7 p.p.), the Philippines (+2.5 p.p.), Ireland (+2.4 p.p.) and France (+2 p.p.) increased significantly in terms of the global imports from 2012-2022, the share of Thailand (-2.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Mexico ($1.2B), Canada ($615M) and the UK ($579M) constituted the countries with the highest levels of imports in 2022, together comprising 21% of global imports. France, Germany, the Philippines, Indonesia, Thailand, Brazil, Singapore, Ireland and South Africa lagged somewhat behind, together accounting for a further 19%.

In terms of the main importing countries, the Philippines, with a CAGR of +26.1%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average optical fiber cables import price amounted to $10,045 per ton, declining by -10.2% against the previous year. Overall, the import price continues to indicate a pronounced reduction. The pace of growth was the most pronounced in 2016 when the average import price increased by 1.7%. Global import price peaked at $12,695 per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Germany ($22,302 per ton), while South Africa ($126 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Mexico (+6.1%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Optical Fiber Cables

For the seventh consecutive year, the global market recorded growth in shipments abroad of optical fiber cables, which increased by 10% to 841K tons in 2022. In general, exports posted a prominent expansion. The most prominent rate of growth was recorded in 2021 when exports increased by 31% against the previous year. The global exports peaked in 2022 and are likely to see steady growth in the near future.

In value terms, optical fiber cables exports surged to $10.9B in 2022. Over the period under review, exports saw a remarkable increase. The most prominent rate of growth was recorded in 2021 when exports increased by 31%. The global exports peaked in 2022 and are likely to see gradual growth in the near future.

Exports By Country

China was the major exporter of optical fiber cables in the world, with the volume of exports reaching 413K tons, which was near 49% of total exports in 2022. It was distantly followed by Mexico (109K tons) and France (46K tons), together generating an 18% share of total exports. Japan (22K tons), South Korea (20K tons), Poland (19K tons), Hong Kong SAR (16K tons), Norway (16K tons), Germany (16K tons), Romania (14K tons) and the Netherlands (13K tons) held a relatively small share of total exports.

Exports from China increased at an average annual rate of +18.0% from 2012 to 2022. At the same time, Romania (+37.3%), Mexico (+21.0%), Hong Kong SAR (+20.9%), Poland (+14.7%), the Netherlands (+13.1%), France (+9.1%) and Japan (+7.3%) displayed positive paces of growth. Moreover, Romania emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.3% from 2012-2022. Germany and Norway experienced a relatively flat trend pattern. By contrast, South Korea (-2.2%) illustrated a downward trend over the same period. China (+25 p.p.), Mexico (+8 p.p.) and Romania (+1.5 p.p.) significantly strengthened its position in terms of the global exports, while Germany, Norway and South Korea saw its share reduced by -2.9%, -3.1% and -5.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.7B), Mexico ($1.6B) and France ($487M) were the countries with the highest levels of exports in 2022, with a combined 44% share of global exports. Poland, Japan, the Netherlands, Germany, Hong Kong SAR, South Korea, Romania and Norway lagged somewhat behind, together comprising a further 21%.

Romania, with a CAGR of +33.6%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average optical fiber cables export price amounted to $12,973 per ton, surging by 4.8% against the previous year. Over the period under review, the export price, however, showed a mild shrinkage. The pace of growth appeared the most rapid in 2018 when the average export price increased by 10%. As a result, the export price reached the peak level of $14,930 per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the Netherlands ($24,961 per ton), while China ($6,644 per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+3.1%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform