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The global photonic crystals market was valued at US$ 49.7 Billion in 2021.
We expect the global photonic crystals market to exhibit a CAGR of 8.20% during 2022-2027.
The escalating deployment of photonic crystals for trapping solar energy, owing to the growing demand
for renewable energy, is primarily driving the global photonic crystals market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown
regulations across several nations, resulting in the temporary closure of numerous end-use industries
for photonic crystals.
Based on the application, the global photonic crystals market can be segmented into optical fiber, LED,
image sensor, solar and PV cell, laser, discrete and integrated optical component, and others. Currently,
optical fiber holds the majority of the total market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin
America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global photonic crystals market include Corning Incorporated,
Furukawa Electric Co. Ltd., GLOphotonics SAS, Gooch & Housego, Hamamatsu Photonics K.K., IPG
Photonics Corporation, NKT Photonics A/S, Opalux Inc., Palo Alto Research Center Incorporated (Xerox
Corporation), Photonic Lattice Inc. (Photron), and Teledyne Technologies Incorporated.
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