Global Heat-Shrink Tubing Market - 2024-2031

Report Overview

The Global Heat Shrink Tubing Market size was worth US$ 2,193.85 million in 2023 and is estimated to reach US$ 3,236.13 million by 2031, growing at a CAGR of 4.98% during the forecast period (2024-2031).

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 popularizing 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.

Market 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.

Market Geographical Share

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.

Market Competitive Landscape

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.

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.

Russia-Ukraine War Impact

The Russia-Ukraine conflict has disrupted the worldwide heat-shrink tubing supply chain due to its impact on raw material availability and manufacturing capacity. Many heat-shrink tube producers rely on ingredients such as polyolefins, which have been hampered by the war's disruption of regional supply networks and economic sanctions imposed against Russia. This disruption has resulted in higher prices and shortages of crucial components, causing delays and increased costs for manufacturers worldwide.

Furthermore, the conflict has exacerbated global inflationary pressures, increasing the strain on heat-shrink tubing manufacturing and delivery. As energy and transportation prices rise as a result of the war's geopolitical consequences, manufacturers will face higher operational costs. This, in turn, has an influence on the overall heat-shrink tubing sector, resulting in higher prices for end users and possibly delays in critical applications that rely on this technology.

By Type

• Single Wall
• Double Wall

By Product

• Spools
• Pre-Cut Length
• Others

By Shrink Ratio

• 2:1
• 3:1
• 4:1
• 6:1

By Voltage

• Low Voltage
• Medium Voltage
• High Voltage

By Material

• Polyolefins
• Polytetrafluoroethylene (PTFE)
• Fluorinated Ethylene Propylene (FEP)
• Ethylene Tetrafluoroethylene (ETFE)
• Polyether Ether Keton (PEEK)
• Others

By End-User

• Utilities
• Automotive
• IT and Telecommunication
• Electronics
• Healthcare
• Oil and Gas
• Food & Beverage
• Chemical
• Others

By Region

• North America
• U.S.
• Canada
• Mexico
• Europe
• Germany
• UK
• France
• Italy
• Spain
• Rest of Europe
• South America
• Brazil
• Argentina
• Rest of South America
• Asia-Pacific
• China
• India
• Japan
• Australia
• Rest of Asia-Pacific
• Middle East and Africa

Key Developments

• In April 2023, TE Connectivity introduced the new EV Single Wall (EVSW) tubing, which is specifically built for high voltage applications for safely insulating and shielding electrical components and cables. The product is a single wall tube designed primarily to provide electrical insulation and safety for high-voltage components in electric vehicles. This will allow the company to diversify its product line while meeting the particular requirements of EV applications.
• In February 2023, Molex published a miniaturization study, detailing professional insights and advances in product design, engineering and cutting-edge connectivity. The innovation improved the company's product range and had a beneficial impact on the worldwide heat shrink tubing industry.

Why Purchase the Report?

• Visualize the composition of the heat-shrink tubing market segmentation by type, product, shrink ratio, voltage, material, end-user and region, highlighting the critical commercial assets and players.
• Identify commercial opportunities in the heat-shrink tubing market by analyzing trends and co-development deals.
• Excel data sheet with thousands of heat-shrink tubing market-level 4/5 segmentation points.
• Pdf report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
• Product mapping in excel for the key product of all major market players

The global heat-shrink tubing market report would provide access to an approx. 85 market data tables, 76 figures and 219 pages.

Target Audience 2024

• Heat-Shrink Tubing Service Providers/ Buyers
• Industry Investors/Investment Bankers
• Education & Research Institutes
• Emerging Companies
• Heat-Shrink Tubing Manufacturers