Heat Shrink Tubing Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMMA4965 | Last Updated On: Jun 22 2022 | Available Formats

> Global Heat Shrink Tubing Market Expected to reach a high CAGR By 2029: DataM Intelligence

Global Heat Shrink Tubing Market is Segmented By Material (Polyolefin, PEEK, PTFE, FEP, ETFE, Elastomers, Silicone Rubber, Others), By Type (Single Wall, Dual Wall, Multi-Wall), By Shrink Ratio (2:1, 3:1, 4:1, Others), By Voltage (Low, Medium, High), By End-User (IT & Telecommunication, Marine, Automotive, Utilities, Medical, Aerospace, Food & Beverages, Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The "global heat shrink tubing market"  is estimated to reach a high CAGR during the forecast period (2022-2029).

Heat shrink tubing is a heat-shrinkable plastic tube that shrinks when heated. Heat shrink tubing offers corrosion, abrasion, cutting and scuff resistance. Because of its moisture, dust and chemical resistance, heat shrink tubing is ideal for use in places where moisture, dust and chemicals are present. Although the tubes' intended use primarily determines the manufacturing technique, heat shrink tubes are made from various chemical compositions.

The tubes are made of thermoplastics like polyolefin and polyvinyl chloride in a generic way. Heat shrink tubes are used to cover the region that has to be protected. Following that, heat is applied externally. The tubes contract and form a tight-fitting covering to protect the underlying surface. As a result, heat shrink tubes protect cables and wires from abrasion and corrosion.

Market Dynamics

The increased use of heat-shrink tubes in the power generating industry drives the global market. The tubes may be useful in the insulation of low-voltage electric appliances. As a result, their demand is growing tremendously with time. Furthermore, the increasing use of polyolefin materials in various industrial applications such as aerospace component manufacture will likely drive the worldwide heat-shrink tubing market forward.

Increasing focus on the packaging of complex and delicate products

Their packaging becomes more elaborate to safeguard the internal materials of complex or sensitive products. The packaging of items has recently received a lot of attention. There is also a significant expense connected with product packaging and the weight of the packing materials plays a role. Heat shrink tubing has grown in popularity due to these advantages over traditional packaging.

Heat shrink tubing has become popular due to its inexpensive cost, ease of availability and ability to be used in various verticals. It's widely employed in various industries, including pharmaceuticals, food & beverage and electrical and electronic equipment. Heat shrink tubes are effective in insulating low-voltage electric appliances. The need for heat shrink tubing is being driven by the growing use of heat shrink tubes in the power generation industry.

Rising use of polyolefin material in various applications

The use of polyolefin materials in various applications, such as aerospace component manufacture, is expected to increase the heat shrink tubing market in the future years. Another key driver for the heat shrink tubing market is its growing use in the automotive industry. These tubes aim to insulate the engine compartment.

Furthermore, the increasing use of heat shrink tubing for packaging in the food and beverage industry and fireproofing assets in the military sector is expected to expand.

Lack of awareness regarding heat-shrink tubing

Heat shrink wire connectors are only sold in large industrial and commercial segments due to a lack of information about their benefits among modest residential repairing electricians. The greatest difficulty for market players is popularising the product and raising knowledge about the safety aspects of electrical shrink wrap among the general public.

Technology and ingenuity have given rise to certain alternatives that may help decrease shrink wrap tubing use. Cold shrink tube is a prospective material that could have a detrimental impact on the heat shrink tube market's rapid expansion.

COVID-19 Impact Analysis

All electrical and electronics enterprises were severely harmed during the COVID-19 pandemic years. All ongoing construction activities were abruptly suspended following the emergence of COVID-19, which had a major negative impact on the sale and consumption of all types of electrical equipment and accessories, including wire shrink wrap tubing supplies.

The global heat shrink tube market has experienced a significant decline as infrastructure and electrical projects have come to a halt. Raw materials essential for the manufacture of electrical shrink wraps, including polymers, stabilizers and others, were also in short supply, limiting market players' production capacity.

Following the lifting of the COVID-19 restrictions, national and regional governments across the globe are investing significantly more in infrastructure development than in the pre-pandemic years. The global heat-shrink tubing market is predicted to grow at a good rate due to the construction of public buildings and telecommunications infrastructure.

Segment Analysis

By material, the heat-shrink tubing market is segmented into Polyolefin, Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Ethylene Tetrafluoroethylene (ETFE), Polyether Ether Keton (PEEK) and others.

Rising application of polyolefin

The polyolefin segment is predicted to be the largest heat-shrink tubing market by the material during the forecast period. Polyolefins are flame and abrasion-resistant, exceedingly flexible and have good chemical, physical and electrical properties. The most common material for heat-shrinkable tubes is a polyolefin.

It produces a dense, high-molecular-weight network that improves impact strength, ESCR, creep and abrasion resistance without affecting tensile strength or density. It is widely used in the packaging and electrical insulation industries for mechanical and environmental protection. Aerospace, military and telecommunications are the primary end-users of polyolefin heat-shrink tubing.

Geographical Analysis

Vast electrical and electronics sector in Asia-Pacific

Asia-Pacific is expected to be the largest market for heat-shrink tubing. It has experienced a remarkable economic expansion in recent years. Heat-shrink tubing is widely used in China, India and Japan, among other significant countries. China leads the global supply of electrical shrink wrap tubing materials and products because of its large electrical and electronics sector. During the estimated period, rising population and electricity use is expected to add to the demand for heat shrink tubes.

The rising need for energy is predicted to necessitate the replacement of aging power transmission infrastructure and increasing demand for equipment such as low, medium and high-power cables, boosting heat-shrink tubing demand. Governments in Asia-Pacific aim to expand their electrical grid and power generation capacities, which will increase the demand for heat-shrink tubing in the region.

Competitive Landscape

The key strategy used by market players in all areas is to obtain orders from various end customers to deliver the shrink tube for wires in bulk. It is used in industries to make various electrical machinery and items, adding wiring circuits to increase value.

In January 2019, Dakar Rally announced an arrangement with ABB Ltd, a leading power and industrial automation firm in U.S., to supply weather-resistant, UV-resistant Ty-Rap cable ties and Shrink- on adhesive-lined heat shrink tubing for securing its electric connections.

Major global heat-shrink tubing market companies include The 3M Company, TE Connectivity, Sumitomo Electric, Hellermanntyton, Alpha Wire, Qualtek, Insultab, Woer, Guanghai Materials and Changchun Heat Shrinkable Materials.

TE Connectivity

Overview: Transportation solutions, industrial solutions and communications solutions are the company's three business segments. Heat-shrink tubing is available through the company's three business groups. The transportation solutions business category serves end markets, including automobiles, commercial transportation and sensors. The industrial solutions business category serves the aerospace, defense, oil & gas and energy industries. The communications solutions business segment serves end markets such as data and devices and appliances. The corporation employs organic and inorganic techniques to grow its global market share.

Product Portfolio: Electrical insulation, mechanical safety, environmental protection & strain relief benefits heat shrink tubing. Back-end connection sealing, breakouts and connector-to-cable transitions are just a few of the applications for heat shrink tubing. It's a good substitute for taping, molding and potting. Raychem heat sleeves adhere to the size and shape of the substrate beneath them when heated, allowing for rapid and easy installation. Because of its high expansion ratio, it may be used to repair most damaged cable jackets without the need to remove connectors. Heat shrink tubing comes in various materials, colors and sizes and is available in spools, 1.2m lengths and chopped sections. Clear types allow for inspection of covered components and have great light transmission.

Key Development: BATTU heat-shrink tubing was introduced by TE Connectivity in March 2019 for use in industrial and commercial vehicles, heavy machinery and generator sets. With numerous materials of heat-shrinkable tubes such as PTFE, FPE, PFA, ETFE and PET, TE Connectivity serves various end-users such as utilities, automotive, medical and defense, differentiating features to extend the company's footprint in the heat-shrink tubing industry.

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