Sumitomo Electric Industries, Ltd., TE Connectivity, and SHAWCOR are Dominating the Global Heat Shrink Tubing for Automotive Market in 2021

The Global Heat Shrink Tubing for Automotive Market is expected to grow with a CAGR of 6.7% in the forecast period of 2021 to 2028. The years considered for the study are as mentioned below.

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The global heat shrink tubing for automotive market is a highly fragmented market, which includes a number of key players as well as local players. The market has witnessed increased strategic developments owing to favorable market scenarios.

The major players dealing in the global heat shrink tubing for automotive market are introducing a strong range of product portfolios. This helped companies to maximize sales with an enhanced product portfolio.

For instance,

  • In June 2017, Sumitomo Electric Industries, Ltd. participated in the 52nd International Air show for tube making and cable products that enhanced the product portfolio for the company. The company enhanced its business portfolio generating more income and profit for the company

Sumitomo Electric Industries, Ltd. dominates the global heat shrink tubing for automotive market. Some of the other major players operating in the market are Flex Wires Inc., Qualtek Electronics Corp., ABB, IS-Rayfast Ltd, NELCO, Insultab, PEXCO, SHAWCOR, Zeus Industrial Products, Inc., HellermannTyton, Autosparks, Shenzhen Woer Heat - Shrinkable Material Co., Ltd., Techflex, Inc., 3M, Texcan, Dasengh, Inc., Huizhou Guanghai Electronic Insulation Materials Co.,Ltd., Alpha Wire, GREMCO GmbH, Thermosleeve USA, Dee Five Shrink Insulations Pvt. Ltd., The Zippertubing Company, RADPOL S.A., Suzhou Feibo Cold and Heat Shrinking Co., Ltd., Paras Enterprises, Molex, TE Connectivity, and Panduit, among others.

Heat Shrink Tubing for Automotive MarketSumitomo Electric Industries, Ltd.

Sumitomo Electric Industries, Ltd. was established in 1827 and has headquarters in Osaka, Japan. It has public ownership. The company provides technology and innovation in the wiring system for the automobile industry. The company has business segments such as Automotive Business, Information and Communications Business, Electronics Business, Environment, and Energy Business, Industrial Materials Business, under which Automotive Business is the market-focused segment. The product categories are Raw Materials, Components, Modules, End Products, Systems, in which Components is the market-focused category.

  • In March 2017, Sumitomo Electric Industries, Ltd. participated in the exhibition of the CeBIT in Germany that exhibited various products on electronic products and 118 companies. The exhibition enhanced the brand image of the company delivering more profit

The company has a wide presence across Europe, Asia-Pacific, North America. The company has various subsidiaries such as Sumitomo Wiring Systems, Ltd. (Japan), Sumitomo Riko (Japan), Sumitomo Densetsu (Japan), Sumitomo Electric Hardmetal Corp. (Japan), SUMITOMO ELECTRIC DEVICE INNOVATIONS, INC. (Japan), among others.

TE Connectivity

TE Connectivity was found in 2007, and it has headquarters located in Schaffhausen, Switzerland. It has public ownership. The company focuses on producing highly engineered connectivity and sensing products that make a connected world possible. The company has business segments such as Transportation Solutions, Industrial Solutions, Communication Solutions, under which Industrial Solutions is the market-focused segment. The product categories are Antennas, Application Tooling, Cable Assemblies, Connectors, EMI Filters, Energy and Power, Fiber Optics, Heat Shrink Tubing, Identification and Labeling, Passive Components, Relays, Contactors and Switches, Sensors, Terminals and Splices, Wire and Cable, Wire Protection and Management. Heat Shrink Tubing is the market-focused category.

  • In March 2020, TE Connectivity acquired a majority share of First Sensor AG. In combining the First Sensor and TE portfolios, TE will be able to offer an even broader product base, including innovative, market-leading sensors, connectors, and systems plus best-in-class capabilities that supports the growth strategy of TE's sensors business and TE Connectivity as a whole

The company has a wide presence in Europe, Asia-Pacific, North America, Middle East, and Africa, South America. The company has subsidiaries such as LADD Distribution, LLC (U.S.), Measurement Specialties, Inc. (U.S.), Creganna Medical, Sociedad de Responsabilidad Limitada (Costa Rica), TE Connectivity Germany GmbH (Germany), Tyco Electronics Mexico, S. de R.L. de C.V. (Mexico), American Sensor Technologies, Inc. (U.S.) among others.

SHAWCOR

SHAWCOR was found in 1930, with its headquarter in Toronto, Canada. It has public ownership. The company offers the best coating solutions for all pipeline projects. The company has various business segments such as Oil and Gas, Automotive and Industry, Water, under which Automotive and Industry is the market-focused segment. Pipe Coating Solutions, Composite Systems, Integrity Management Solutions, Advanced Products and Supply are the product and solution categories under which Advanced Products and Supply is the market-focused category.

  • In March 2021, TechnipFMC has chosen SHAWCOR to provide pipeline insulation coating for the Mero 2 project. This award comes as SHAWCOR completes the successful execution of Mero 1 from its Serra, Brazil plant, which began in 2019. The company’s excellent flow assurance coating track record continues to expand with this project range, strengthening its status as the trusted coating supplier in the Brazilian industry

The company is present all over Asia-Pacific, Europe, North America, Middle East. The company has subsidiaries such as ZCL Composites(Canada), Lake superior Consulting (U.S.) , DSG-Canusa (Germany), Desert NDT (U.S.), ShawCor UK Limited (U.K.) & ShawCor Canada Holdings Ltd. (Canada), among others.