FIBER IN THE LOOP MARKET ANALYSIS

Market News

Recent Developments

New Product Launches

• Huawei Technologies is a leading global provider of information and communications technology (ICT) infrastructure and smart devices, launched its Fusion OptiX 7000 series of products in 2022. These products offer speeds up to 10 Gbps and are designed for FTTx networks.
• In September 2022, Nokia launched its FlexiAccess 5G platform. This platform is designed to deliver speeds up to 10 Gbps and is ideal for FTTx networks.

Mergers and Acquisitions

• In May 2023, Loop Industries, Inc., a clean technology firm dedicated to advancing a circular plastics economy through the production of 100% recycled polyethylene terephthalate (PET) plastic and polyester fiber, joined forces with On AG, a sportswear brand under On Holding AG. The collaboration was marked by the signing of a Letter of Intent (LOI), with on expressing its commitment to source significant quantities of 100% recycled virgin-quality Loop™ PET resin from Loop's upcoming Asian Infinite Loop™ manufacturing facility in Ulsan, South Korea. Loop is in the planning stages for this facility in collaboration with its strategic partner, SK Geo Centric, and expects the Ulsan manufacturing facility to commence construction by the end of the current year.
• In June 2022, a collaboration was initiated between SK Innovation is an intermediate holding company of SK Group engaged in petroleum, alternative energy, and oil exploration, Loop Industries a clean technology firm, and Suez to establish a recycled PET facility in France. This enhanced partnership leverages SK Geo Centric's proficiency in petrochemical manufacturing, Suez's resource management capabilities, and Loop's innovative proprietary technology. The joint effort aims to provide the European market with 70,000 metric tons of high-quality, 100% recycled polyethylene terephthalate (PET) plastic and polyester fiber.