Heat Shrink Tubing Market Strategies, Trends, and Forecast by 2031
The heat shrink tubing market size is projected to reach US$ 3.14 billion by 2031 from US$ 2.10 billion in 2023, with a CAGR of 5.16% by 2031. Rising demand from the automobile industry and government initiatives to upgrade transmission and expand distribution systems are among the major factors driving the growth of the market. Furthermore, high growth potential from industries such as electrical & electronics telecommunications, and oil & gas provides lucrative growth opportunities for the market. Automation of the heat shrink tubing process is expected to emerge as a trend in the market during 2023-2031.
Heat Shrink Tubing Market Analysis
The major stakeholders in the market ecosystem include raw material providers, heat shrink tube manufacturers, and customer or end-user. The raw material provider is a crucial stakeholder in the ecosystem of the market. The major parts of the heat shrink tubing include materials such as Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoro alkoxy Alkane, Polyvinylidene Fluoride, and Others.
Heat Shrink Tubing Market Overview
Heat shrink tube manufacturers produces the product as per the industry's requirement compatible for a wide range of applications. Heat shrink tubing companies are growingly focusing on improving battery efficiencies and range by enhancing charging infrastructure. The presence of large number of heat shrink tubing manufacturers are competing at large scale primarily based on advanced material and availability of presence across the globe. It includes 3M, Shenzhen Woer Heat Shrinkable Material Co., Ltd; TE Connectivity, and Sumitomo Electric Industries, Ltd among other players.
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Heat Shrink Tubing Market: Strategic Insights
Heat Shrink Tubing Market
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![](https://www.theinsightpartners.com/assets/images/rd_int_img/cagr.png)
CAGR (2023 - 2031)
5.16%
-
Market Size 2023
US$ 2.10 Billion
-
Market Size 2031
US$ 3.14 Billion
Market Dynamics
GROWTH DRIVERS
- Increasing Demand from Automotive Industry
FUTURE TRENDS
- High Growth Potential in Telecommunications, Oil & Gas, Electrical and Electronics Industries
OPPORTUNITIES
- Automation of Heat Shrink Tubing
Key Players
- HellermannTyton
- Sumitomo Electric Industries, Ltd.
- SHAWCOR Molex LLC
- 3M
- Shenzhen Woer Heat - Shrinkable Material Co., Ltd
- Shanghai Changyuan Electronic Material Co., Ltd
- TE Connectivity
- Techflex, Inc
Regional Overview
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
Voltage
- Low voltage
Material
- Polyolefin
- Polytetrafluoroethylene
- Fluorinated Ethylene Propylene
- Perfluoro Alkoxy Alkane
- Polyvinylidene fluoride
- Others
End User
- Energy
- Utilities
- Electrical Power
- Infrastructure / Building Construction
- Industrial
- Telecommunication
- Automotive
- Aerospace
- Defense
- Mass transit and Mobility
- Medical
- Petrochemical
- Mining
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Heat Shrink Tubing Market: Strategic Insights
-
CAGR (2023 - 2031)5.16% -
Market Size 2023
US$ 2.10 Billion -
Market Size 2031
US$ 3.14 Billion
![](https://www.theinsightpartners.com/assets/images/rd_int_img/tip-logo.jpg)
Market Dynamics
- Increasing Demand from Automotive Industry
- High Growth Potential in Telecommunications, Oil & Gas, Electrical and Electronics Industries
- Automation of Heat Shrink Tubing
Key Players
- HellermannTyton
- Sumitomo Electric Industries, Ltd.
- SHAWCOR Molex LLC
- 3M
- Shenzhen Woer Heat - Shrinkable Material Co., Ltd
- Shanghai Changyuan Electronic Material Co., Ltd
- TE Connectivity
- Techflex, Inc
Regional Overview
![](https://www.theinsightpartners.com/assets/images/rd_int_img/ig-regional.png)
- North America
- Europe
- Asia-Pacific
- South and Central America
- Middle East and Africa
Market Segmentation
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_danger.png)
- Low voltage
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_warning.png)
- Polyolefin
- Polytetrafluoroethylene
- Fluorinated Ethylene Propylene
- Perfluoro Alkoxy Alkane
- Polyvinylidene fluoride
- Others
![](https://www.theinsightpartners.com/assets/images/rd_int_img/cust_bullet_primary.png)
- Energy
- Utilities
- Electrical Power
- Infrastructure / Building Construction
- Industrial
- Telecommunication
- Automotive
- Aerospace
- Defense
- Mass transit and Mobility
- Medical
- Petrochemical
- Mining
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Heat Shrink Tubing Market Drivers and Opportunities
Increasing Demand from Automotive Industry
With the growing trend of electric vehicles, the increasing need for wired appliances is boosting the market. Heat shrink tube in an electric vehicle is used in many applications for wire shielding from charging socket to electrical components throughout the vehicle dashboard, windscreen wiper system, lighting system, central locking system, acoustic system, air condition system, and so on.
High Growth Potential in Telecommunications, Oil & Gas, Electrical and Electronics Industries
Heat shrink tubing has various uses and is widely used within telecommunications networking cables. Heat shrink tubes are used to safeguard these connections, cables, conductors, joints, and terminals, against environmental damage. Furthermore, the oil & gas industry faces the most challenging environmental effects and conditions. Extreme heat, corrosion, pressure, and other factors affect the equipment utilized in the oil & gas industry. Heat shrink tubing makes sures the equipment delivers consistent and reliable performance. Thus, the demand for heat shrink tubing across telecommunications, oil & gas, and electrical & electronics industries provides ample opportunities for market growth.
Heat Shrink Tubing Market Report Segmentation Analysis
Key segments that contributed to the derivation of the market analysis are voltage, material, and end-user.
- Based on the voltage, the market is divided into Low voltage (Less than 5kV), Medium voltage (5-35 kV), and High Voltage (Above 35kV). The low voltage (less than 5KV) segment held a larger market share in 2023.
- Based on material, the global heat shrink tubing market is divided into below Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoro alkoxy Alkane, Polyvinylidene fluoride, and Others. The Polyolefin segment held a larger market share in 2023.
- Depending on the end-user, the global market is divided into Energy, Utilities, Electrical Power, Infrastructure/Building Construction, Industrial, Telecommunication, Automotive, Aerospace, Defense, Mass transit and Mobility, Medical, Petrochemical, and Mining. The utilities segment held a larger market share in 2023.
Heat Shrink Tubing Market Share Analysis by Geography
The scope of the heat shrink tubing market report encompasses North America (the US, Canada, and Mexico), Europe (Spain, the UK, Germany, France, Italy, and the Rest of Europe), Asia Pacific (South Korea, China, India, Japan, Australia, and the Rest of Asia Pacific), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of Middle East & Africa), and South & Central America (Brazil, Argentina, and the Rest of South & Central America). In terms of revenue, APAC dominated the heat shrink tubing market share in 2023. North America is the second-largest contributor to the global heat shrink tubing market, followed by Europe.
Heat Shrink Tubing Market Report Scope
Report Attribute
Details
Market size in 2023
US$ 2.10 Billion
Market Size by 2031
US$ 3.14 Billion
Global CAGR (2023 - 2031)
5.16%
Historical Data
2021-2022
Forecast period
2023-2031
Segments Covered
By Voltage - Low voltage
By Material - Polyolefin
- Polytetrafluoroethylene
- Fluorinated Ethylene Propylene
- Perfluoro Alkoxy Alkane
- Polyvinylidene fluoride
- Others
By End User - Energy
- Utilities
- Electrical Power
- Infrastructure / Building Construction
- Industrial
- Telecommunication
- Automotive
- Aerospace
- Defense
- Mass transit and Mobility
- Medical
- Petrochemical
- Mining
Regions and Countries Covered
North America - US
- Canada
- Mexico
Europe - UK
- Germany
- France
- Russia
- Italy
- Rest of Europe
Asia-Pacific - China
- India
- Japan
- Australia
- Rest of Asia-Pacific
South and Central America - Brazil
- Argentina
- Rest of South and Central America
Middle East and Africa - South Africa
- Saudi Arabia
- UAE
- Rest of Middle East and Africa
Market leaders and key company profiles
HellermannTyton Sumitomo Electric Industries, Ltd. SHAWCOR Molex LLC 3M Shenzhen Woer Heat - Shrinkable Material Co., Ltd Shanghai Changyuan Electronic Material Co., Ltd TE Connectivity Techflex, Inc
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Report Attribute | Details |
---|---|
Market size in 2023 | US$ 2.10 Billion |
Market Size by 2031 | US$ 3.14 Billion |
Global CAGR (2023 - 2031) | 5.16% |
Historical Data | 2021-2022 |
Forecast period | 2023-2031 |
Segments Covered |
By Voltage
|
Regions and Countries Covered | North America
|
Market leaders and key company profiles |
- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
Heat Shrink Tubing Market News and Recent Developments
The market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market for innovations, business expansion, and strategies:
- In March 2024, Materials specialist and pioneer of FEP Peelable Heat Shrink Tubing (PHST), Junkosha, unveiled its latest catheter-based innovation, the 1.8:1 shrink ratio Translucent PHST solution, at the MD&M West show from February 6th to 8th2024. (Source: Junkosha, Press Release)
Heat Shrink Tubing Market Report Coverage and Deliverables
The “Heat Shrink Tubing Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:
- HEAT SHRINK TUBING Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
- Market dynamics such as drivers, restraints, and key opportunities
- HEAT SHRINK TUBING Market Trends
- Detailed PEST/Porter’s Five Forces and SWOT analysis
- HEAT SHRINK TUBING Market Analysis covering key market trends, Global and regional framework, major players, regulations, and recent market developments
- HEAT SHRINK TUBINGIndustry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
- Detailed company profiles
![Report Coverage](https://www.theinsightpartners.com/assets/rdimages/report_coverage.png)
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
![Segment Covered](https://www.theinsightpartners.com/assets/rdimages/segment_covered.png)
Segment Covered
Voltage, Material, and End User
![Regional Scope](https://www.theinsightpartners.com/assets/rdimages/regional_scope.png)
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
![Country Scope](https://www.theinsightpartners.com/assets/rdimages/country_scope.png)
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russia, Saudi Arabia, South Africa, South Korea, UAE, UK, US