Global Water Blocking Taps Market 2024-2031

Global Water Blocking Taps Market 2024-2031

Global Water Blocking Taps Market Size, Share & Trends Analysis Report by application (Submarine Cable, Power Cable, Optical Fiber Cable, Communication Cable,Others), by Conductive (Non-Conductive, Semi Conductive, Conductive)Forecast Period (2024-2031)

The global water-blocking taps market is anticipated to grow at a considerable CAGR of 5.4% during the forecast period (2024-2031). The water-blocking tapes market is a niche sector of the construction industry that deals with materials used to prevent water leaks. These tapes are typically applied around pipes, joints, and other potential leak points to create a watertight seal.

Market Dynamics

Growing construction industry

The global construction industry is expected to experience steady growth in the coming years, fueled by urbanization, infrastructure development, and renovation projects. This growth will translate into a higher demand for water-blocking tapes for various construction applications. For instance, in April 2024 China’s infrastructure authority announced the construction of new energy storage projects to build a new power system amid its green energy transition. By the end of Q1 2024, the cumulative installed capacity of new energy storage projects reached 35.3 million kW/77.68 million KWH, an increase of over 12% compared to Q1 2023. New energy storage technologies like lithium-ion batteries, liquid flow batteries, compressed air, and mechanical energy are being used for fast response, flexible configuration, and short construction periods. Such developments are anticipated to create demand for water water-blocking taps market.

Technological advancements

Manufacturers are constantly developing new and improved water-blocking tapes with enhanced features like better adhesion, higher durability, and resistance to extreme temperatures. These advancements are making water-blocking tapes a more attractive option for professionals and DIY enthusiasts. For instance, in April 2024, Flex Seal announces their latest addition to the Flex Seal Family of Products: Flex Super Wide Duct Tape. This premium duct tape is water-resistant** and has a tough, reinforced backing that can be torn by hand.

Market Segmentation

Our in-depth analysis of the global water-blocking tapes market includes the following segments by application and conductive:

• Based on application, the market is sub-segmented into submarine cable, power cable, optical fiber cable, communication cable, and others

• Based on conductive, the market is sub-segmented into non-conductive semiconductive, and conductive.

Submarine Cable is Projected to Emerge as the Largest Segment

Based on the application, the global water-blocking tapes market is sub-segmented into submarine cable, power cable, optical fiber cable, communication cable, and others. Among these, submarine cable is expected to hold the largest share of the market. The primary factor supporting the segment's growth includes the critical nature of watertight protection in underwater environments. Submarine cables are vital for data transmission, oil & gas exploration, and offshore wind farms. Water-blocking tapes play an essential role in preventing water ingress and maintaining the electrical integrity of these expensive and sensitive cables.

Regional Outlook

The global water-blocking tapes market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Italy, Spain, Germany, and France), Asia-Pacific (India, China, Japan, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Saudi Arabia).

Asia-Pacific to Exhibit the Highest CAGR

Asia-Pacific is anticipated to exhibit the highest CAGR during the forecast period. The rapidly growing construction industry in emerging economies is a key factor driving the growth of the regional market. China's extensive infrastructure development projects require significant use of water-blocking tapes in power grids, communication networks, and other crucial infrastructure.Additionally, the presence of several water-blocking tape manufacturers is further adding to the regional market growth.

The major companies serving the global water-blocking tape market include Berry Global Group, Inc. (US), Intertape Polymer Group, Scapa Group Ltd, Nichiban Co., Ltd. (Japan), Fori Group, Navank Consultants, and Others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market