Global Heat Shrink Bands Market – Industry Trends and Forecast to 2030

Global Heat Shrink Bands Market, By Products (Tubes, Sleeves, Other Accessories), Length (Spool, Standard (1.2m), Non-standard Cut Pieces, Custom), Types (Single Wall, Dual Wall), Voltage (Low Voltage, Medium Voltage, High Voltage), Material (Polyolefin, Polytetrafluoroethylene, Fluoropolymer, Polyvinyl Chloride (PVC), Neoprene, Silicon Elastomer or Viton, Polyethylene (PE), Perfluoroalkoxy Alkane (PFA), Fluorinated Ethylene Propylene (FEP), Ethylene Vinyl Acetate (EVA), Ethylene Tetra fluoro Ethylene  (ETFE), Polyethylene Terephthalate Glycol (PETG), Expanded Polystyrene Films, Polylactic Acid Films, Silicon, Others), Ratio (2:1, 3:1, 4:1, 6:1), Industry  (Electrical, IT and telecom, Construction, Transport), Thickness (Below 50 micron, 50-75 micron, 75-100 micron, Above 100),  Sales Chanel (Original Equipment Manufacturers, Aftermarket), End-User (Utilities, Chemical, Automotive, Aerospace, Railways, Pharmaceutical, Telecommunication, Food, Beverages, Electrical engineering Goods and Components, Home Appliances, Defence, Pipelines, Pulp and paper, Textile, Packaging, Electrical and electronics, Energy, Others) – Industry Trends and Forecast to 2030.

Heat Shrink Bands Market Analysis and Size

Shrink sleeve applicators are the market leader and most popular product in the heat shrink bands market for slick, quick, and effective operation output. Heat shrink band applicators offer a high-performance product range with minimal cost and high-quality work using technology, and they are very time-efficient. The global market is driven by the rising use of heat-shrink tubes in power generation. The insulation of low-voltage electric appliances may benefit from the tubes. As a result, their demand is steadily increasing.

Additionally, the growing use of polyolefin materials in numerous industrial applications, such as the production of an aerospace component, will impact positively. High-density polyethylene (HDPE) is major demanded polymer in plastic packaging. HDPE has been given USDA/FDA approval for food packaging due to its assortment of qualities, including lightweight, toughness, and others.

Data Bridge Market Research analyses that the heat shrink bands market, valued at USD 1,005.69 million in 2022, will reach USD 2,769.69 million by 2030, growing at a CAGR of 13.5% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Heat Shrink Bands Market Scope and Segmentation  

Market Definition

Heat shrink bands are packaging that fills gaps for various end users, including pharmaceuticals, food and beverage bundling converters, and drugs. Many industries are searching for anti-forging solutions due to the increase in counterfeiting cases to preserve their reputations. Heat shrink tubing is a plastic tube that can be heated and shrunk. Corrosion, abrasion, cutting, and scuff resistance are all features of heat shrink tubing. Heat shrink tubing is the best material to use in environments with moisture, dust, and chemicals because of its resistance to these elements. Heat shrink tubes are produced using a variety of chemical combinations, though their intended use primarily dictates the manufacturing process.

Heat Shrink Bands Market Dynamics

Drivers

• Effective use of heat shrink bands as seals to wires and cables drive the market

Wires and cables are vulnerable to abrasion, scuffing, cutting, and overheating in low-impact situations. Heat shrink tubing is a cable entry seal that may shield cables and wires from substances such as oils, water, and atmospheric elements such as humidity and extreme heat. Because of technological advancement and innovations, manufacturers have created effective tubes and sleeves that can function at even -65 °C to +260 °C while effectively protecting against water and moisture. Heat shrink tubing and sleeves are used as an extra layer of defense that lessens external tension and strain while insulating connected wires. Heat shrink bands and sleeves are occasionally used in metal piping and welded joints as rust-protective hardware. During welding, the insulation of stainless steel tubes' coatings may be lost, thus, effective use of heat shrink bands in applications such as wires and cables helps uplift the market growth.

Opportunities

• Increasing focus on the packaging of complex and delicate products

A product's packaging is a prominent feature for complicated or delicate products. Generally, the weight of the packing materials impacts the cost of packaging products. At the same time, heat shrink bands have become increasingly popular because of their low price, easy availability, and versatility across various verticals. It is extensively used in many industries, including pharmaceuticals, food, drink, and electrical and electronic equipment. Low-voltage electric appliances can be safely isolated using heat shrink bands. The demand for heat shrink tubing is driven by the growing use of heat shrink tubes in the power generation sector.

• The food industry's extensive use of heat sleeves fuels the market

Shrink sleeve applicators are used in food packaging to shield products from physical, chemical, or biological contamination while displaying the manufacturer's information. Through the help of shrink sleeve applicators, it is also possible to emboss the primary ingredient on the packaging and complete the tasks quickly and effectively. Shrink sleeve applicators and eye-catching, high-quality packaging can accomplish all this, driving the market's growth. To increase shelf life of food products, it is also preferred to package food products that are water-resistant and have poor O2-resistance.

Restraints/Challenges

• Lack of knowledge limits the product purchases

Heat shrink wire connectors are only sold in large industrial and commercial segments due to a lack of awareness among small-scale residential repair electricians of the benefits. Market participants' most significant challenges are increasing consumer awareness of electrical shrink wrap's safety features and spreading the word about the product. Less knowledge consequently resulted in fewer customers, and fewer customers' ability prevented the market from expanding.

• The availability of alternatives hampers the growth of the market

Various electrical and mechanical components and assemblies can be packaged, sealed, labeled, and protected.  The market's expansion is anticipated to be hindered by alternatives like tamper-evident seals, dip coatings, potting, cold shrinks, and other security seals. Customers have options due to the abundance of options, which reduces demand. Thus, the proliferation of options has slowed growth and increased confusion.

This heat shrink bands market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the heat shrink bands market contact Data Bridge Market Research for an analyst brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In 2021, ABB and AXPO collaborated on a project to increase the affordability and accessibility of queen green hydrogen. The business had committed to creating a pilot project.
• In 2021, New silicon adhesives from 3M have improved medical devices for people with sensitive skin.

Global Heat Shrink Bands Market Scope

The heat shrink bands market is segmented on the basis of product, length, types, voltage, material, ratio, industry, sales and channel and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Products

• Tubes
• Sleeves
• Other Accessories

Length

• Spool
• Standard (1.2m)
• Non-standard cut pieces
• Custom

Types

• Single wall
• Dual wall

Voltage

• Low Voltage
• Medium Voltage
• High Voltage

Material

• Polyolefin
• Low density polyethylene (LDPE)
• High density polyethylene (HDPE)
• Polytetrafluoroethylene
• Fluoropolymer
• Fluorinated Ethylene propylene (FEP)
• Polytetrafluoroethylene (PTFE)
• Polyvinyl chloride (PVC)
• Neoprene
• Silicon elastomer or viton
• Polyethylene (PE)
• Perfluoroalkoxy Alkane (PFA)
• Fluorinated Ethylene Propylene (FEP)
• Ethylene VINYL Acetate (EVA)
• Ethylene Tetra fluoro ethylene  (ETFE)
• Polyethylene terephthalate glycol (PETG)
• Expanded Polystyrene Films
• Polylactic Acid Films
• Silicon
• Others
• Polyether Ether Ketone (PEEK)
• Polyethylene Terephthalate (PET)

Ratio

• 2:1
• 3:1
• 4:1
• 6:1

Industry

• Electrical
• Electrical equipment manufacturing
• Electrical construction and repair
• IT and telecom
• Construction
• Residential
• Commercial
• Transport
• Railways and Trucks
• Buses and off roads
• Aerospace

Thickness

• Below 50 micron
• 50-75 micron
• 75-100 micron
• Above 100

Sales Chanel

• Original Equipment manufacturers
• Aftermarket

End-User

• Utilities
• Chemical
• Automotive
• Aerospace
• Railways
• pharmaceutical
• Telecommunication
• Food
• Preservatives
• Ketcups
• Canned vegtables
• Jams
• Dressings and condiments
• Spices
• Others
• Beverages
• Alcoholic
• Non-Alcoholic
• Electrical engineering goods and components
• Home appliances
• Defence
• Pipelines
• Pupl and paper
• Textile
• Packaging
• Electrical and electronics
• Energy
• Power system
• Oil and gas
• Others
• Health care and aerospace
• Military industries

Heat Shrink Bands Market Regional Analysis/Insights

The heat shrink bands market is analysed and market size insights and trends are provided by country, product, length, types, voltage, material, ratio, industry, sales and channel and end user are as referenced above.

The countries covered in the heat shrink bands market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia and New Zealand, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, United Arab Emirate, Saudi Arabia, Egypt, Israel, South Africa, Rest of Middle East and Africa

Asia-Pacific dominates the market and will continue to flourish its trend of dominance during the forecast period. Growing food and beverage industries and locally developed e-commerce platforms are the leading causes of the region's dominance.

North America will undergo the highest growth rate during the forecast period due to many consumer goods manufacturing companies in the region. Furthermore, North America has potential because there is a high consumption of alcoholic beverages. The government's role in encouraging the expansion of transmission and distribution throughout the region has significantly boosted market growth. The market for heat shrink tubing is significantly constrained by the rising prices of copper, silver, and raw materials.

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 down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Heat Shrink Bands Market Share Analysis

The heat shrink bands 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to heat shrink bands market.

Some of the major players operating in the heat shrink bands market are:

• ABB (Switzerland)
• 3M (U.S.)
• TE Connectivity. (Switzerland)
• Sumitomo Electric Industries, Ltd. (Japan)
• HellermannTyton (U.K.)
• Alpha Wire (U.S.)
• Insultab, PEXCO (U.S.)
• Shenzhen Woer Heat - Shrinkable Material Co., Ltd. (China)
• DYMO, Inc. (U.S.)
• Molex (U.S.)
• Huizhou Guanghai Electronic Insulation Materials Co.,Ltd. (China)
• PEXCO (U.S.)
• Techflex, Inc. (U.S.)
• Zeus Company Inc. (U.S.)
• Gupta Fancy Packs (India)
• Manoj Plastics Industries (India)
• Crystal Vision Packaging Co (India)
• Paras Traders. (India)
• Swati Enterprise (India)
• GMG International (India)