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3. Agreements/contracts, expansions, acquisitions, and new product developments are key strategies adopted by leading players in the Water Blocking Tapes Market

Water blocking tapes are the combination of multiple layers of lightweight, non-woven fabric along with one or multiple swellable water blocking compounds. Water blocking compounds can include water-absorbent polymers that get disposed under layers of fabric by using the ultrasonic bonding technique. These water swellable tapes efficiently absorb liquid at the point of insulation failure and get quickly swelled to block further ingress. Different conductive types of water blocking tapes are used according to the performance requirements. These tapes get widely used in optical fiber, submarine, communication, power, and other cables.

Various countries across the globe are concentrating in improving their energy self-sufficiency and improving their energy infrastructure. Various developing countries like India, Indonesia, Brazil South Africa and others are investing in developing a countrywide grid to meet the energy demands, improving the standards of power delivery at an improved technology and reduced cost of operations. Most of the power distribution cables are not great in energy efficiency. The newer power cable technology to mitigate these issues are manufactured to reduce the energy losses during transmission whilst improving the safety factors of those cables. These newer cables market is expected to grow with the increased investments, which will positively drive the water blocking tapes application in the power cable industry applications. According to OECD’s report, the energy consumption from the industrial sector is about 39%, transportation is 27%, 19% is residential sector, 8% from commercial sector, and remaining by agricultural and other sectors.  The global water blocking tapes market size is expected to grow from USD 378 million in 2022 to USD 495 million by 2027, projecting a CAGR of 5.5% during the forecast period between 2022 and 2027.

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Companies operating in the water blocking tapes market have strengthened their position by adopting expansions, partnerships, agreements, new product/technology launches, joint ventures, contracts, and mergers & acquisitions from 2017-2022. For instance, in December 2020, Chase Corporation acquired all capital stocks of AB Chimie, which is a developer of coating for electronics, at USD 21.4 million, which was excluding the acquisition related cost of USD 274,000 with a potential earnout based on performance potentially worth an additional USD 8.3 million at the time of transaction. The company is planning to expand its manufacturing capacity for Asia region as it is one of the fastest growing markets. In this new plant, around 40 million square meters adhesive tapes will get manufactured every year.

Chase corporation (US), Nitto Denko Corporation (Japan), Hanyu Cable Materials (China), Scapa Group Ltd (UK), Intertape Polymer Group (Canada), Berry Global Inc. (US), Unitape UK Ltd., (UK), and Sika AG (Switzerland) are some of the key players in the water blocking tapes market.

Scapa Group Plc is a global leader in the healthcare and industrial markets for bonding materials and adhesive components. Scapa Group Plc has manufacturing facilities throughout Europe, North America, Asia, and the UK. Their global service and supply chain skills put them in a great position to work with international customers. Scapa Group Plc is a leading manufacturer and supplier of water blocking tapes for use in both power and communication cables. The products are being manufactured in their Renfrew, Ontario, Canada manufacturing facility. The Group has manufacturing plants around the world and sells mainly in countries within Europe, North America and Asia. Its key competitors include Bostik S.A. (France), Henkel AG & Co. KGaA (Germany), and Sika AG (Switzerland).

Chase Corporation is a global specialty chemicals company and a leading manufacturer of protective materials for high reliability applications across various markets. The company is based in Westwood, Massachusetts, US and has manufacturing facilities in the US, Asia, and Europe. It has a wide range of products in its portfolio that includes adhesives, sealants and additives, corrosion protection and waterproofing products and different types of industrial tapes. Chase Corporation caters to a diverse array of markets, which includes aerospace, automotive, bridge and highway, energy, oil & gas, military, utilities, waterproofing, and white goods.

Hanyu Cable Materials is a manufacturer of cable tapes for use in the cable industry. Since its inception, the company has been focused on production, development, and marketing of nonwoven for industrial applications in the cable industry. The company has its specialty in water blocking tape, semiconductive shielding tapes, flame retardant tapes and specialty composite cable tapes. Hanyu tapes are compatible with insulation, shielding, binding, water blocking, flame retardant products.

Related Reports:

Water Blocking Tapes Market by Conductive Type (Conductive, Semi-conductive, Non-conductive), Application (Optical Fiber cable, Submarine cable, Power cable Communication cable) and Region (North America, Europe, APAC, RoW) - Global Forecast to 2027

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