Overview and Scope
Heat shrink tubing and sleeves refer to products made of heat-shrinkable materials that are used for insulating, protecting, and organizing electrical wires, cables, and components. They are designed to shrink in size when heat is applied, creating a tight and secure fit around the objects they cover.
Sizing and Forecast
The heat shrink tubing and sleeves market size has grown strongly in recent years. It will grow from $1.98 billion in 2023 to $2.11 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The growth in the historic period can be attributed to electronics industry demand, industrial applications, miniaturization in electronics, market competition and innovation, customization and versatility.
The heat shrink tubing and sleeves market size is expected to see strong growth in the next few years. It will grow to $2.67 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to industry-specific demand, miniaturization in electronics, global market expansion, demand for customization, rapid industrialization. Major trends in the forecast period include market competition and innovation, customization and versatility, miniaturization trends, environmental and safety regulations, wire and cable protection.
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The heat shrink tubing and sleeves market covered in this report is segmented –
1) By Product Type: Tubes, Sleeves, Other Accessories
2) By Material Type: Polyolefin (POE), Polyether Ether Ketone (PEEK), Ethylene Tetrafluoroethylene (ETFE), Ethylene Vinyl Acetate (EVA), Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Perfluoroalkoxy Alkane (PFA), Other Materials
3) By Length: Spool, Standard (1.2 Meter), Non-Standard Cut Pieces, Custom
4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket
5) By Applications: Automotive, Aerospace, Railways, Telecommunication, Energy, Electrical Engineering Goods And Components, Home Appliances, Defense And Armaments, Other Applications
North America was the largest region in heat shrink tubing and sleeves market in 2023. The regions covered in the heat shrink tubing and sleeves market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The increasing demand for electrical and electronics products is expected to propel the growth of the heat shrink tubing and sleeves market going forward. Electrical and electronic equipment refers to devices and systems that utilize electricity and electronic components to perform specific functions. Higher demand for various electrical and electronic products, including wires, cables, connectors, and electronic components, requires heat shrink tubing and sleeves that offer excellent insulation properties, protecting wires and cables from other environmental factors such as moisture, chemicals, and abrasion. For instance, in May 2023, according to the United Nations COMTRADE database, a part of the United Nations Statistics Division, exports of electrical and electronic equipment in the US accounted for $197.75 billion in 2022, compared to $185 billion in 2021, with an approximate increase of 7%. Therefore, increasing demand for electrical and electronics products is driving the growth of the heat shrink tubing and sleeves market.
Key Industry Players
Major companies operating in the heat shrink tubing and sleeves market report are HellermannTyton, Molex LLC, Panduit Corp., Shrink Sleeves Ltd., TE Connectivity Inc., ABB Ltd., 3M Company, Wurth Elektonik Company, Techflex Inc., Artilabo International BV, Gremtek SAS, Pexco LLC, DSG-Canusa GmbH, Don-Polymer Ltd., Essentra plc, Zeus Industrial Products Inc., Changyuan Group Ltd., CIAC Corp., Qualtek Electronics Corp., Alpha Wire Company, Sumitomo Electric Industries Ltd., Woer Heat-Shrinkable Material Co. Ltd., Insultab Inc., Yamaichi Electronics Co. Ltd., Cygia Group, Dasheng Heat Shrinkable Material Co. Ltd., SAB North America LLC, Adtech Polymer Engineering Ltd., Amphenol PCD Inc., Carlisle Interconnect Technologies, Covalence Adhesives Corp., Fujikura Ltd.
The heat shrink tubing and sleeves market report table of contents includes:
1. Executive Summary
2. Heat Shrink Tubing And Sleeves Market Characteristics
3. Heat Shrink Tubing And Sleeves Market Trends And Strategies
4. Heat Shrink Tubing And Sleeves Market – Macro Economic Scenario
5. Global Heat Shrink Tubing And Sleeves Market Size and Growth
……..
31. Global Heat Shrink Tubing And Sleeves Market Competitive Benchmarking
32. Global Heat Shrink Tubing And Sleeves Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Heat Shrink Tubing And Sleeves Market
34. Heat Shrink Tubing And Sleeves Market Future Outlook and Potential Analysis
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