According to the Market Statsville Group (MSG), the global water blocking tapes market size is expected to grow from USD 354.1 million in 2021 to USD 554.0 million by 2030, at a CAGR of 5.1% from 2022 to 2030. At the point of insulation failure, water-absorbing and water-swellable tapes swiftly absorb liquid and swell to block any further entry. Doing this minimizes any cable damage, is completely contained, and is easy to find and fix. Non-conductive water blocking tape is made of caustic-free, super-swelling polyester non-woven fabric. It can effectively block water and mist to protect the cable because of its outstanding swelling height and speed. When water gets inside a wire protected by waterproof tape, the extremely absorbent powder in the tape rapidly turns into a waterproof gel, preventing further damage. Non-Conductive Water Blocking Tape instantly swells to block any additional entrance after swiftly absorbing liquid at the site of insulation failure. This ensures that any cable damage is minimized, completely encased, and simple to identify and fix. The cable industry uses non-conductive water blocking tape in the energy, data transmission, telecommunications, and subsea cable business sectors.
The COVID-19 outbreak has severely affected global demand for water blocking tapes due to a drop in demand from numerous cable sector applications. The pandemic had an immediate impact, disrupting operations and the worldwide supply chain in various industries, resulting in a drop in demand and a rise in the water-blocking tapes market. Several countries have implemented lockdowns to prevent the virus from spreading further in 2020. COVID-19 had the most severe effects in Europe and North America. Companies are still attempting to cope with the pandemic's rapid impact. They must work efficiently on their supply chain and enhance their distribution network to catch future demand for water-blocking tapes and deal with market swings. With rebounding markets and end-use sectors, the market is picking up speed, as are building projects and expenditures on the cables industry throughout the world.
Submarine cables are mostly utilized for power transmission and communication transmission. In comparison to common wireless telecommunication options, cable communication is employed to have a lower latency of information delivered. A growing number of information providers are establishing data centers across continents to provide end consumers with quick and secure connectivity. These firms rely significantly on undersea and land communications connections to connect their several data centers spread across different countries. This industry is predicted to grow as newer cable technologies improve the bandwidth they deliver, lowering the latency period necessary for information transfer.
The pandemic has had a negative impact on all industries, with the construction industry being among the most seriously impacted. In addition, in 2020, COVID-19 impacted the whole supply chain of the water-blocking tapes sector. Over 100 countries have closed their borders internal and external trade and transit. Furthermore, the epidemic has brought non-essential product production to a standstill in practically all major economies. Because of the epidemic, most active building projects and those in the pipeline were halted. As a result, demand for water-blocking tape materials used in various cable applications decreased. Because of the poor demand, the firms were forced to limit output and downsize their employees to save costs and stay in business. These considerations slowed the spread of water-blocking tapes.
With continuous upgrades to wireless technology, transporting data over greater distances has become a key impediment to fully embracing the wireless transmission of telecommunication data. Wired communication lines, such as optical fiber cables, are the natural choice for delivering massive amounts of data across vast distances. With increased reliance on the internet and communication devices and services, the installation of newer gadgets is expanding faster in emerging nations such as India, Vietnam, Brazil, South Africa, and others. With the increased installation of network equipment such as routers that rely on optical fiber cables for data transport, the market for water blocking tape is likely to grow in these application segments.
The study categorizes the water blocking tapes market based on conductive type and application at regional and global levels.
Based on the application, the water blocking tapes market is divided into optical fiber cable, submarine cable, power cable, communication cable, and others. The submarine cable application segment dominated the water-blocking tapes market. Water blocking tapes are used to shield the electrical conductors in cables from water, avoiding short circuit failure, which is a major risk for underwater/submarine cables.
Based on the regions, the global water blocking tapes market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. The Asia Pacific market for water blocking tapes is rapidly expanding. The Asia Pacific market for water blocking tapes is being pushed by rising energy infrastructure expenditures and the expansion of cross-regional power and data cables. The Asia Pacific is rapidly becoming a major trade and business hub. This region is one of the most important markets for water-blocking tapes. With the European and North American markets experiencing economic recession and saturation, demand is projected to move to the Asia Pacific. Because of the availability of raw materials and inexpensive labor resources, makers of water-blocking tapes are targeting this region.
The Chinese market for water blocking tapes has expanded significantly and is expected to increase more due to the country's ongoing relocation of global water blocking tapes production facilities. Furthermore, India, Japan, and South Korea will likely have considerable expansion in the water-blocking tapes market in the coming years.
As a result, such market trends are likely to assist Asia-Pacific in dominating the overall market.
The global water blocking tapes market is highly competitive, with key industry players adopting strategies such as product development, partnerships, acquisitions, agreements, and expansion to strengthen their market positions. Most market companies focus on expanding operations across regions, augmenting their capabilities, and building strong partner relations.
Major players in the global water blocking tapes market are:
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