Global Heat Shrink Tubing Market, By Type (Single Wall and Dual Wall), Product Type (Spools, Pre-Cut Length, and Others), Voltage (Low, Medium, and High), Shrink Ratio (2:01, 3:01, 4:01, 6:01, and Others), Material (Polyolefin, Perfluoroalkoxy Alkanes (PFA), Polytetrafluoroethylene (PTFE), Ethylene Tetra Fluoro Ethylene (ETFE), Fluorinated Ethylene Propylene (FEP), Polyetheretherketone (PEEK) and Others), End User (Utilities, IT and Telecommunication, Automotive, Electronics, Aerospace, Healthcare, Oil and Gas, Marine, Food and Beverages, Construction, Chemical, and Others) Industry Trends and Forecast to 2030.
Heat Shrink Tubing Market Analysis and Size
The increase in the capacity for power generation across the globe drives the global heat shrink tubing market. However, the up-gradation of transmission lines and substations along existing corridors is a cost-effective way to increase transmission capacity. Existing lines can be reconducted to increase transmission capacity (using materials such as composite conductors that can carry higher currents). These materials are currently available but are not widely used because it is difficult to take lines out of service to reconduct new materials. Furthermore, when weather conditions are favorable, all overhead lines can carry current higher than their nominal rating and a real-time rating that could be continuously adjusted would increase available capacity.
Data Bridge Market Research analyses that the global heat shrink tubing market is expected to grow at a CAGR of 6.1% in the forecast period of 2023 to 2030 and is expected to reach USD 3,112.10 million by 2030. The Global heat shrink tubing market report also comprehensively covers pricing analysis, patent analysis, and technological advancements.
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Report Metric |
Details |
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Forecast Period |
2023 to 2030 |
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Base Year |
2022 |
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Historic Years |
2021 (Customizable to 2015-2020) |
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Quantitative Units |
Revenue in USD Million |
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Segments Covered |
Type (Single Wall and Dual Wall), Product Type (Spools, Pre-Cut Length, and Others), Voltage (Low, Medium, and High), Shrink Ratio (2:01, 3:01, 4:01, 6:01, and Others), Material (Polyolefin, Perfluoroalkoxy Alkanes (PFA), Polytetrafluoroethylene (PTFE), Ethylene Tetra Fluoro Ethylene (ETFE), Fluorinated Ethylene Propylene (FEP), Polyetheretherketone (PEEK) and Others), End User (Utilities, IT and Telecommunication, Automotive, Electronics, Aerospace, Healthcare, Oil and Gas, Marine, Food and Beverages, Construction, Chemical, and Others) |
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Countries Covered |
China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Thailand, Singapore, Philippines, and Rest of Asia-Pacific, U.S., Canada, and Mexico. Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Switzerland, Turkey, and the Rest of Europe, Saudi Arabia, U.A.E., Egypt, South Africa, Israel, and the Rest of the Middle East and Africa. Brazil, Argentina, and the Rest of South America |
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Market Players Covered |
ABB (Switzerland), Sumitomo Electric Industries, Ltd. (Japan), TE Connectivity (Switzerland), Thermosleeve USA (U.S.), Techflex, Inc. (U.S.), Dasheng Group (China), Shenzhen Woer Heat - Shrinkable Material Co., Ltd.(China), Huizhou Guanghai Electronic Insulation Materials Co.,Ltd.(China), Panduit (U.S.), HellermannTyton (Germany), Alpha Wire (U.S.), 3M (U.S.), SHAWCOR (Canada), Zeus Industrial Products, Inc. (U.S.), Molex (U.S.), PEXCO (U.S.), Prysmain Group (Italy), GREMCO GmbH (Germany), Qualtek Electronics Corp. (U.S.), Hilltop (U.K.), Dunbar Products, LLC. (U.S.), cygia, and Changyuan Electronics (Dongguan) Co., Ltd.(China) among others |
Market Definition
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.
Moreover, these tubings use various materials such as Perfluoroalkoxy alkanes (PFA), Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), and others, to manufacture heat shrink tubings. The heat shrink tubings with different materials have different protection features against abrasion, low impact, cuts, moisture, and dust by covering individual wires or encasing entire arrays. In addition, material is decided based on end usage such as electronics, automotive, aerospace, and others. Plastic manufacturers begin by extruding a thermoplastic tube to create heat-shrink tubing. Heat shrink tubing materials vary depending on the intended application.
Global Heat Shrink Tubing Market Dynamics
This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail as below:
Drivers
- Role of Government in Supporting and Expansion of Transmission & Distribution Systems in the Heat Shrink Tubing Market Across the Region
The role of electric power transmission and distribution (T&D) plays an important link between generating stations and customers. Growing loads and stress created by the aging equipment and increasing the risk of widespread blackouts are a few of the factors which help generates the need for heat shrink tubes. Electricity delivery that is both dependable and cost-effective is critical in today's society. The U.S. transmission and distribution (T&D) is comprised of numerous economic drivers, organizational structures, technologies, and forms of regulatory oversight. Federal, and municipal governments and state and customer-owned cooperatives are all part of these systems. However, about 80 percent of power transactions occur on lines owned by investor-owned regulated utilities (IOUs). These fully integrated utilities own both the generating plants and the transmission and distribution systems that deliver their customers' power. This was among the dominant model in the past but deregulation in some states has transformed the industry. Transmission, generation, and distribution may be handled by different entities in deregulated areas.
- Increase in the Capacity for Power Generation Across the Globe
A two-step process is used to create heat shrink tubing. The first step is standard extrusion followed by a secondary process that makes the tubing heat-shrinkable. Although this secondary process's specifics are kept confidential, heat and force are used to expand the tubing's diameter. While still expanded, the tubing is cooled to room temperature. If the tubing is rigid, it is going to shrink down to its original size. The up-gradation of transmission lines and substations along existing corridors is a cost-effective way to increase transmission capacity. Existing lines can be reconducted to increase transmission capacity (using materials such as composite conductors that can carry higher currents).
Opportunity
- Wide Adoption of Heat Shrink Tubes in Various Industries
AI the heat shrink tubing products are made from uniquely formulated materials that have been enhanced by radiation cross-linking, a technology with product design that provides a repeatable, reliable and shrink-to-fit installation compatible with many manufacturing processes. These products are in service throughout the world in automotive, telecommunications, power distribution, aerospace, defense, industrial and commercial applications. The tubing application in under bonnet cable protection, hoses, brake pipes, air conditioning, diesel injection clusters, connectors, inline splice, wire bundles, ring terminals, seat belt stalks, gas springs, antennas, and others are further enhancing the application capabilities in the automobile industry. The tubing products are made from uniquely formulated materials that have been enhanced by radiation cross-linking, a technology. The easy-to-use products provide cost-effective, proven solutions in various automotive applications, from sealing and protecting electrical splices to providing mechanical protection for fluid management systems in harsh surroundings.
Restraints/Challenges
- Government Regulation On the Emission of Toxic Gases
The environmental significance of rapid industrialization has brought about uncountable air, land, and water resource sites being contaminated with toxic materials and other pollutants, threatening humans and ecosystems with serious health risks. More extensive and intensive use of materials and energy has created cumulative pressures on the quality of local, regional, and global ecosystems. Before there was a concerted effort to restrict the impact of pollution, environmental management extended little beyond laissez-faire tolerance, tempered by the disposal of wastes to avoid disruptive local nuisance conceived of in a short-term perspective. The need for remediation was recognized by exception in instances where damage was determined to be unacceptable. As the pace of industrial activity intensified and the understanding of cumulative effects grew, a pollution control paradigm became the dominant method of environmental management.
- Rising Prices of Raw Materials for Tubing
The price fluctuations affect the cable, wire, and connectivity products and materials being purchased or affect the outlook on budget projections in procurement, finance, supply chain management, or product development. Thanks to rising industrial production and aggressive sustainable energy initiatives, China is the world's largest consumer of copper. Europe, the U.S., and China pursue aggressive renewable energy initiatives to sustain greener economies and copper's high thermal and electric conductivity will help them get there. The largest copper-producing countries such as Chile, Peru, China, and the United States are struggling to meet the high demand for countries to meet their green economic initiative, contributing to the price of copper skyrocketing. There is also speculation that as the U.S. dollar weakens against other global currencies, there will be more opportunities for users of other currencies to increase their purchasing power with copper and other commodities.
Recent Developments
- In April 2023, TE Connectivity announced the new EV Single Wall (EVSW) tubing specifically designed for high voltage applications and safely insulating and protecting conductive components and cables. This product is a single wall tube with the prime focus of providing electrical insulation and protection for high-voltage components in electric vehicles. This will help the company to diversify its product portfolio and meets the unique challenges of EV applications.
- In February 2023, Molex released a miniaturization report, stating expert insights and innovations in product design engineering and leading-edge connectivity. Through this miniaturization, the company has increased the effectiveness of products and their safety too. This development enhanced the company’s product line and it made a positive impact on the growth of the global heat shrink tubing market.
Global Heat Shrink Tubing Market Scope
The global heat shrink tubing market scope is segmented into six notable segments based on the type, product type, material, voltage, shrink ratio, and end user. The growth amongst these segments will help you analyse 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.
Type
- Single Wall
- Dual Wall
On the basis of type, the global heat shrink tubing market is segmented into single wall and dual wall.
Product Type
- Spools
- Pre-Cut Lengths
- Others
On the basis of product type, the global heat shrink tubing market is segmented into spools, pre-cut lengths, and others.
Voltage
- Low
- Medium
- High
On the voltage, the global heat shrink tubing market is segmented into low, medium, and high.
Shrink Ratio
- 2:01
- 3:01
- 4:01
- 6:01
- Others
On the basis of shrink ratio, the global heat shrink tubing market is segmented into 2:01, 3:01, 4:01, 6:01, and others.
Material
- Polyolefin
- Per Fluoroalkoxy Alkane (PFA)
- Poly Tetra Fluoro Ethylene (PTFE)
- Ethylene Tetra Fluoro Ethylene (ETFE)
- Fluorinated Ethylene Propylene (FEP)
- Polyether Ether Ketone (PEEK)
- Others
On the basis of material, the global 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.
End User
- Utilities
- It And Telecommunication
- Automotive
- Electronics
- Aerospace
- Healthcare
- Oil And Gas
- Marine
- Food And Beverages
- Construction
- Chemical
- Others
On the basis of end user, the global heat shrink tubing market is segmented into utilities, IT and telecommunication, automotive, electronics, aerospace, healthcare, oil and gas, marine, food and beverages, construction, chemical, and others.
Global Heat Shrink Tubing Market Regional Analysis/Insights
The global heat shrink tubing market is analysed, and market size insights and trends are provided by type, product type, voltage, shrink ratio, material, and end user as referenced above.
The countries covered in the global heat shrink tubing market are sub-segmented into China, India, Japan, South Korea, Australia, Indonesia, Malaysia, Thailand, Singapore, Philippines, and Rest of Asia-Pacific, U.S., Canada, and Mexico. Germany, France, U.K., Italy, Spain, Netherlands, Belgium, Russia, Switzerland, Turkey, and the Rest of Europe, Saudi Arabia, U.A.E., Egypt, South Africa, Israel, and the Rest of the Middle East and Africa. Brazil, Argentina, and the Rest of South America
Asia-Pacific is expected to dominate the global heat shrink tubing market. China dominates in the Asia-Pacific region due to the presence of key market players in the largest consumer market with high GDP.
The region 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 downstream 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 Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Heat Shrink Tubing Market Share Analysis
The global heat shrink tubing market competitive landscape provides details by the competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific 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 the global heat shrink tubing market.
Some of the major players operating in the heat shrink tubing market are ABB (Switzerland), Sumitomo Electric Industries, Ltd. (Japan), TE Connectivity (Switzerland), Thermosleeve USA (U.S.), Techflex, Inc. (U.S.), Dasheng Group (China), Shenzhen Woer Heat - Shrinkable Material Co., Ltd.(China), Huizhou Guanghai Electronic Insulation Materials Co.,Ltd.(China), Panduit (U.S.), HellermannTyton (Germany), Alpha Wire (U.S.), 3M (U.S.), SHAWCOR (Canada), Zeus Industrial Products, Inc. (U.S.), Molex (U.S.), PEXCO (U.S.), Prysmain Group (Italy), GREMCO GmbH (Germany), Qualtek Electronics Corp. (U.S.), Hilltop (U.K.), Dunbar Products, LLC. (U.S.), cygia, and Changyuan Electronics (Dongguan) Co., Ltd. (China) among others.
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