Water Blocking Tapes Market Size Worth $575.7 Million By 2030 | CAGR: 5.4%

The global water blocking tapes market size is expected to reach USD 575.7 million by 2030, according to a new study by Polaris Market Research. The report " Water Blocking Tapes Market Share, Size, Trends, Industry Analysis Report, By Conductive Type (Conductive, Semi-conductive, Non-Conductive), By Application (Optical Fiber Cable, Submarine Cable, Power Cable, Communication Cable, Others), By Region; Segment Forecast, 2022 - 2030" gives a detailed insight into current market dynamics and provides analysis on future market growth.

The global market is driven by an increasing number of countries focusing on improving their energy independence and upgrading their energy infrastructure. Several developing countries, such as India, Indonesia, Brazil, and South Africa, are developing nation-wide grids to meet energy demands, improve power delivery standards with improved technology, and lower operating costs.

The Visual Capitalist says that China raised its overall spending on the energy transition by 60% from 2020 levels, thereby solidifying its position as a worldwide leader. 2021 saw a 19% growth in the nation's wind and solar power generation capacity, with electrified transportation also contributing to a sizable chunk of the expenditure.

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Although the COVID-19 pandemic has had negative effects on all end users, it has also negatively impacted the water-blocking tape market. In the OECD's report, the industrial sector consumes about 39% of the energy, transportation consumes 27%, residential consumes 19%, commercial consumes 8%, and agricultural consumes the remaining 1%.

Water Blocking Tapes Market Report Highlights

• The non-conductive segment is anticipated to grow at a highest CAGR. This is primarily due to its high swellability, high water proofing capabilities, and tolerance capabilities in extreme weather conditions
• Power cable accounted for the largest revenue share in 2021. Additionally, this product protects fiber optic cables, power cables, and telecom cables from the damaging effects of water penetration.
• In Asia Pacific, the market is expected to witness significant growth during the forecast period. China is one of the most common consumer and producer of water blocking tapes, owing to the presence of several manufacturing companies and its applicability in different industry verticals, with many leading manufacturers investing in the country. In China, foreign investments, cheap labor, and abundance of raw materials are driving the growth of the global market.
• There are several companies in the global market, including as Cable Tapes UK, Chase Corporation, Chengdu Centran Industrial, International Materials Group, Chhaperia International Company, Ekstel, Fori Group, Scapa Group plc, Geca Tapes, Gurfil, Hanyu Cable Materials, Shinyuan Technologies, Hongzhou Photoelectric Material Technology Ltd, Indore Composite, Lifeline Technologies, Nantong Siber Communication, Navank Consultants, Shenyang Tianrong Cable Materials Co Ltd, Sneham International, Star Materials, Suzhou Kaying Industrial Materials Co Ltd, Swabs Tapes India Private Limited, Unitape UK Ltd, Vitahco, and Weihai Hongda Cable Material

Polaris Market Research has segmented the water blocking tapes market report based on conductive type, application, and region:

Water Blocking Tapes, Conductive Type Outlook (Revenue - USD Million, 2018 - 2030)

• Conductive
• Semi-conductive
• Non-conductive

Water Blocking Tapes, Application Outlook (Revenue - USD Million, 2018 - 2030)

• Optical Fiber cable
• Submarine cable
• Power cable
• Communication cable
• Others

Water Blocking Tapes, Regional Outlook (Revenue - USD Million, 2018 - 2030)

• North America
  • U.S
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
  • Netherlands
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Malaysia
• Latin America
  • Argentina
  • Brazil
  • Mexico
• Middle East & Africa
  • UAE
  • Saudi Arabia
  • Israel
  • South Africa