The Heat-Shrink Tubing Global Market Report 2023, provides comprehensive information on the heat-shrink tubing market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Heat-Shrink Tubing Global Market Report 2023, the market size is expected to grow from $2.03 billion in 2022 to $2.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global heat-shrink tubing market size is expected to reach $2.67 billion in 2027 at a CAGR of 5.8%.
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Automation of heat shrink tubing is a key trend gaining popularity in the heat shrinking tubing market. Major companies in the heat-shrinking tubing market are focused on innovating their products to strengthen their position in the market and sustain their position in the market. For instance, in May 2022, CORTEC Corp, a US-based corrosion solutions company, introduced, a new custom VpCI (vapor corrosion inhibitor)-126 Shrink Film for metal packaging in automated heat shrink and heat seal tunnels. VpCI®-126 Shrink Film is designed for heavy-duty packing of industrial equipment and assets for shipping or storage to prevent rusting and the vapor phase corrosion inhibitors (VpCI®) in the film form a protective molecular layer on metal surfaces inside the packaging. Additionally, the consumer items that undergo automatic heat shrinking are wrapped in highly fragile films and often do not require corrosion protection at the other end of the shrink film packaging spectrum and benefit tiny metal products from both corrosion prevention and automated packaging.
The heat-shrink tubing market is segmented:
1) By Type: Single Wall, Double Wall
2) By Material: Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoroalkoxy Alkane, Ethylene Tetrafluoroethylene, Other Materials
3) By Voltage: Low Voltage, Medium Voltage, High Voltage
4) By End-User: Chemical, Pharmaceutical, Food And Beverage, Automotive, Utilities, Other End-Users
North America was the largest region in the heat-shrink tubing market in 2022.
The table of contents in TBRC’s heat-shrink tubing market report includes:
1. Executive Summary
2. Heat-Shrink Tubing Market Characteristics
3. Heat-Shrink Tubing Market Trends And Strategies
4. Heat-Shrink Tubing Market – Macro Economic Scenario
5. Heat-Shrink Tubing Market Size And Growth
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26. Africa Heat-Shrink Tubing Market
27. Heat-Shrink Tubing Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Heat-Shrink Tubing Market
29. Heat-Shrink Tubing Market Future Outlook and Potential Analysis
30. Appendix
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