Asia-Pacific Heat Shrink Tubing Market, By Type (Single Wall, Dual Wall), Product Type (Spools, Pre-Cut Length), Voltage (Low, Medium, High), Shrink Ratio (2:1, 3:1, 4:1, 6:1), Material (Polyolefin, Perfluoroalkoxy Alkanes (PFA), Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Ethylene tetrafluoroethylene (ETFE), Polyetheretherketone (PEEK)), End-User (Utilities, IT & Telecommunication, Automotive, Electronics, Aerospace, Healthcare, Oil & Gas, Marine, Food & Beverage, Construction, Chemical), Country (China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific) Industry Trends and Forecast to 2028
Heat shrink tubing market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.4% in the forecast period of 2021 to 2028 and expected to reach USD 546.56 million by 2028. Wide adoption of heat shrink tube in various industry is acting as major factor for the growth of the market.
Heat shrink tubing is used to insulate wire providing abrasion resistance and environmental protection for the stranded solid wire conductors with connections, joints, and terminals in electrical work. In general, a tube with a lower shrink temperature will shrink faster. When heat shrink tubing is wrapped around wire arrays and electrical components, it collapses radially to fit the contours of the equipment, forming a protective layer. It can protect against abrasion, low impact, cuts, moisture, and dust by covering individual wires or encasing entire arrays. Plastic manufacturers begin by extruding a thermoplastic tube to create heat shrink tubing. Heat shrink tubing materials vary depending on the intended application.
The growth of the market has been highly boosted due to the role of the government in promoting the expansion of transmission & distribution across the region. The growing copper, silver and raw material used in heat shrink tubing acts as a major restraint factor for the heat shrink tubing market.
This heat shrink tubing market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The heat shrink tubing market is segmented on the basis of type, product type, material, voltage, shrink ratio and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the heat shrink tubing market is segmented into single wall and dual wall. In 2021, the single wall holds the largest market share in the type segment as it offers superior insulation strain relief and protection against mechanical damage and abrasion versus taping and molding. Moreover, it also provides quick insulation and protection.
- On the basis of product type, the heat shrink tubing market is segmented into spools, pre-cut lengths and others. In 2021, spools dominate the overall market with maximum market share owing to their extra insulation adhesive feature. Moreover, increased production of spools by varied manufacturers to cater to the rising demand is also one factor driving the segment growth.
- On the basis of material, the heat shrink tubing market is segmented into polyolefin, per fluoroalkoxy alkane (PFA), poly tetra fluoro ethylene (PTFE), ethylene tetra fluoro ethylene (ETFE), fluorinated ethylene propylene (FEP), polyether ether ketone (PEEK) and others. In 2021, the polyolefin segment holds highest market share as it has excellent physical, chemical and electrical characteristics and is resistant to abrasion and flame. Moreover, polyolefin-based heat shrink tubing is suited to the broadest range of general purpose needs, leading to more revenue generation.
- On the basis of voltage, the heat shrink tubing market is segmented into low, medium and high. In 2021, low voltage augments the market with the largest market share owing to its increase in the utilization of heat shrink tubing, mainly for sealing cables and insulation.
- On the basis of shrink ratio, the heat shrink tubing market is segmented into 2:1, 3:1, 4:1 and 6:1. In 2021, the 2:1 segment accounts for the highest market share due to faster shrink time, minimizing the installation time and potential damage to heat-sensitive components. It enables ease of installation which allow the tubing to be utilized in all environment.
- On the basis of end-user, the heat shrink tubing market is segmented into food & beverage, automotive, utilities, chemical, pharmaceuticals, electronics, IT and telecommunication, aerospace, oil and gas, construction, marine and others. In 2021, the utilities segment dominates the overall market with maximum market share due to the need of protecting the wires and cable from harmful environmental components. Moreover, increase in investment in transmission & distribution infrastructure by the government.
Heat Shrink Tubing Market Country Level Analysis
Heat shrink tubing market is analysed and market size information is provided by country, type, product type, material, voltage, shrink ratio and end-user as referenced above.
The countries covered in heat shrink tubing market report are China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific.
China dominates the region due to heavy investment in oil and gas as well as automotive industry leads to the development in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Quality Assurance Commodity
Heat shrink tubing market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in heat shrink tubing and changes in regulatory scenarios with their support for the heat shrink tubing market. The data is available for historic period 2010 to 2019.
Competitive Landscape and Heat Shrink Tubing Market Share Analysis
Heat shrink tubing market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the companies’ focus related to heat shrink tubing market.
The major players covered in the report are ABB, Sumitomo Electric Industries, Ltd., TE Connectivity, HellermannTyton, Alpha Wire, 3M, SHAWCOR, Changchun IAC Technology Co., Ltd., Zeus Industrial Products, Inc., Molex, Techflex, Inc., Dasheng Group, Prysmian Group, Shenzhen Woer Heat - Shrinkable Material Co., Ltd., Qualtek Electronics Corp, Hilltop, Assembly Fasteners, Inc., Huizhou Guanghai Electronic Insulation Materials Co.,Ltd., GREMCO GmbH and among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product developments are also initiated by the companies worldwide which are also accelerating the growth of heat shrink tubing market.
- In March 2021, TE Connectivity launched ATUM series of heat shrink tubes that has an adhesive inside tube bonds with a wide range of rubber, plastics and metals that includes PVC, polyethylene, rubber and aluminium. The high flexibility offered from the shrink tubes make it ideal for repairing cables in industrial applications. The company enhanced its product portfolio delivering more profit to the company.
- In December 2020, Hilltop introduced the automatic hot knife cutter that works on tubing webbings, ribbon and braided sleeving. These are in-built with an adjustable temperature and have an automatic job stop when the end of the material is reached for the optical performance every time. The hot knife melts the end of the material and so all cuttings are sealed neatly without the ends fraying.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for heat shrink tubing through expanded range of size.
Customization Available: Asia-Pacific Heat Shrink Tubing Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.