Global Heat Shrink Tubing for Automotive Market – Industry Trends and Forecast to 2030

Global Heat Shrink Tubing for Automotive Market, By Application (Hoses, Connectors, Ring Terminals, In-Line Splices, Brake Pipes, Diesel Injection Clusters, Under Bonnet Cable Protection, Gas Pipes, Miniature Splices), Material (Polyolefin, Polyvinyl Chloride, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoroalkoxy Alkane, Ethylene Tetrafluoroethylene, and Others), Color (Red, Yellow and Others), Type (Single Wall Shrink Tubing and Dual Wall Shrink Tubing), Voltage (Low, Medium and High), Fuel Type (Petrol, Diesel/CNG and Electric), Sales Channel (OEM and Aftermarket), Vehicle Type (Passenger Cars, LCV, HCV, and Electric Vehicles) – Industry Trends and Forecast to 2030.

Heat Shrink Tubing for Automotive Market Analysis and Size

The heat shrink tubing for automotive is expected to grow significantly due to an increased demand for an extensive range of insulating materials for protective maintenance. Now, manufacturers have been capable of designing effective heat shrink tubing that can work even at 65°C to +260°C and provide efficient protection against moisture and water. Moreover, increasing demand for eco-friendly materials along with growth of distribution channels and original equipment manufacturer (OEM) will continue towards increasing sales of heat shrink tubing during the forecast period.

Data Bridge Market Research analyses that the heat shrink tubing for automotive market is expected to reach USD 6088 million by 2030, which is USD 3490.73 million in 2022, registering a CAGR of 7.20% 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 Tubing for Automotive Market Scope and Segmentation

Market Definition

Heat shrink tubing is a heat shrinkable plastic tube which shrinks when heated. These tubing offer abrasion, corrosion, cutting and scuff resistance. Heat shrink tubing is perfect for usage in places where dust, moisture and chemicals are present. Heat shrink tubes are mainly made from numerous chemical compositions. These tubes are made up of thermoplastics such as polyvinyl chloride and polyolefin in a generic way. Heat shrink tubing are used to cover the area that has to be protected.

Heat Shrink Tubing for Automotive Market Dynamics

Drivers

• Rising demand of polyolefin based heat shrink tubing for automotive

The demand for the polyolefin based heat shrink tubing increases in automotive sector during the forecast period due to their multiple advantages. Polyolefin are abrasion and flame resistant, remarkably flexible and have good physical, chemical and electrical properties. Polyolefin produces a dense and high-molecular-weight network which increases impact strength, abrasion resistance and ESCR, creep without affecting density or tensile strength. Therefore, the increasing demand of polyolefin in the manufacture of heat shrink tubing for automotive is expected to drive the growth rate of the market

• Increasing sales and demand for electric vehicles

One of the major drivers of the heat shrink tubing industry is the rise in the demand for electric vehicles and sales globally. Electric vehicle drove the increase in the company's sales during the forecast period. The heat shrink tubing can be applied in automotive tubing systems of electric vehicle, in which including power steering return hoses, water drain tubing, fuel line protection tubing, ABS tubing, air conditioning aluminum tubing, ATF tubing formulated for automotive engines, fuel system tubing, water-cooling system tubing, and air conditioning hoses..

Opportunities

• Increase in technological advancement to improve vehicle performance

The automotive sector has worked with major technology companies to provide the safest, advanced and most comfortable vehicles out there. Cars are becoming large smart devices with advanced emergency braking capabilities, better fuel efficiency , mapping technology for autonomous driving and cars as a service as a form of transportation. For instance, Sumitomo Electric Industries, Ltd. has launched cross-linked fluororesin FEX tape. The major characteristics of this product was its technology because it is used two major technologies such as electron beam irradiation technology and fluorine processing technology, which provided 1,000 times more resistance to wear than other conventional fluororesin (PTFE) tape. As a result of this it is used in the automotive sector,

 Restraints/ Challenges

• Lack of awareness regarding heat shrink tubing

Heat shrink tubing’s are only sold in large automotive sectors due to a lack of information regarding the benefits of this tubing. The biggest and foremost difficulty for major market players in automotive sector is popularising the product and spreading knowledge regarding safety aspects of electrical shrink wrap among the general automotive sectors.

This heat shrink tubing for automotive 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 tubing for automotive 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.

Global Heat Shrink Tubing for Automotive Market Scope

The heat shrink tubing for automotive market is segmented on the basis of application, material, color, type, voltage, fuel type, sales channel and vehicle type. 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.

Application

• Hoses
• Connectors
• Ring Terminals
• In-Line Splices
• Brake Pipes
• Diesel Injection Clusters
• Under Bonnet Cable Protection
• Gas Pipes
• Miniature Splices

Material

• Polyolefin
• Polyvinyl Chloride
• Polytetrafluoroethylene
• Fluorinated Ethylene Propylene
• Perfluoroalkoxy Alkane
• Ethylene Tetrafluoroethylene
• Others

Color

• Red
• Yellow
• Others

Type

• Single Wall Shrink Tubing
• Dual Wall Shrink Tubing

Voltage

• Low
• Medium
• High

Fuel Type

• Petrol
• Diesel/CNG
• Electric

Sales Channel

• OEM
• Aftermarket

Vehicle Type

• Passenger Cars
• LCV
• HCV
• Electric Vehicles

Heat Shrink Tubing for Automotive Market Regional Analysis/Insights

The heat shrink tubing for automotive market is analyzed and market size insights and trends are provided by country, application, material, color, type, voltage, fuel type, sales channel and vehicle type as referenced above.

The countries covered in the heat shrink tubing for automotive market report U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

Asia-Pacific dominates the heat shrink tubing for automotive market in terms of revenue and market share owing to the strong presence of heat shrink tubing manufacturers and vast industrial infrastructure in this region.

North America will continue to project the highest growth rate during the forecast period of 2023-2030 owing to the rapid growth in automotive technology. Furthermore, quality usage of heat shrink tubing and high standards of cables and wires will further boost the market growth in this region.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like 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 Tubing for Automotive Market Share Analysis

The heat shrink tubing for automotive 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 tubing for automotive market.

Some of the major players operating in the heat shrink tubing for automotive market are:

• Molex (U.S.)
• TE Connectivity (Switzerland)
• Panduit (U.S.)
• ABB (Switzerland), 3M (U.S.)
• RADPOL S.A (Poland)
• The Zippertubing Company (U.S.)
• Dee Five (India)
• Insultab, PEXCO (U.S.)
• SHAWCOR (Canada)
• Sumitomo Electric Industries, Ltd. (Japan)
• Zeus Company Inc. (U.S.)
• HellermannTyton (U.K.)
• Shenzhen Woer Heat - Shrinkable Material Co., Ltd. (China)
• Techflex, Inc. (U.S.)
• Texcan (Canada)
• Alpha Wire (China)