Heat Shrink Tubing Market Drivers and Forecasts by 2031

Historic Data: 2021-2022   |   Base Year: 2023   |   Forecast Period: 2023-2031

Heat Shrink Tubing Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Voltage [ Low voltage (Less than 5kV), Medium voltage (5-35 kV), and High Voltage (Above 35kV) ], Material (Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoro alkoxy Alkane, Polyvinylidene fluoride, and Others ), End User ( Energy, Utilities, Electrical Power, Infrastructure/Building Construction, Industrial , Telecommunication, Automotive, Aerospace, Defense, Mass transit and Mobility, Medical, Petrochemical, and Mining ), and Geography

  • Report Date : Sep 2025
  • Report Code : TIPRE00008443
  • Category : Manufacturing and Construction
  • Status : Data Released
  • Available Report Formats : pdf-format excel-format
  • No. of Pages : 150

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.

Customize This Report To Suit Your Requirement

You will get customization on any report - free of charge - including parts of this report, or country-level analysis, Excel Data pack, as well as avail great offers and discounts for start-ups & universities

Heat Shrink Tubing Market: Strategic Insights

heat-shrinking-tubing-market
  • Get Top Key Market Trends of this report.
    This FREE sample will include data analysis, ranging from market trends to estimates and forecasts.

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 Regional Insights

The regional trends and factors influencing the Heat Shrink Tubing Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Heat Shrink Tubing Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

heat-shrinking-tubing-market-global-geography
  • Get the Regional Specific Data for Heat Shrink Tubing Market

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
  • Medium voltage
  • High Voltage
By Material
  • Polyolefin
  • Polytetrafluoroethylene
  • Fluorinated Ethylene Propylene
  • Perfluoro Alkoxy Alkane
  • Polyvinylidene fluoride
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

  • Heat Shrink Tubing Market Players Density: Understanding Its Impact on Business Dynamics

    The Heat Shrink Tubing Market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

    Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

    Major Companies operating in the Heat Shrink Tubing Market are:

    1. HellermannTyton
    2. Sumitomo Electric Industries, Ltd.
    3. SHAWCOR Molex LLC
    4. 3M
    5. Shenzhen Woer Heat - Shrinkable Material Co., Ltd
    6. Shanghai Changyuan Electronic Material Co., Ltd

    Disclaimer: The companies listed above are not ranked in any particular order.


    heat-shrinking-tubing-market-cagr

    • Get the Heat Shrink Tubing Market top key players overview
      

    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
    Nivedita Upadhyay
    Nivedita Upadhyay
    Manager,
    Market Research & Consulting

    Nivedita is an accomplished research professional with over 9 years of experience in Market Research and Business Consulting. Currently serving as a Project Manager in the ICT domain at The Insight Partners, she brings deep expertise in managing and executing Syndicated, Custom, Subscription-based, and Consulting research assignments across diverse technology sectors.

    With a proven track record of delivering data-driven analysis and actionable insights, Nivedita has been a key contributor to several critical projects. Her work involves end-to-end project execution—right from understanding client objectives, analyzing market trends, to deriving strategic recommendations. She has collaborated extensively with leading ICT companies, helping them identify market opportunities and navigate industry shifts.

    Nivedita holds an MBA in Management from IMS, Dehradun. Prior to joining The Insight Partners, she gained valuable experience at MarketsandMarkets and Future Market Insights in Pune, where she held various research roles and built a strong foundation in industry analysis and client engagement.

    • Historical Analysis (2 Years), Base Year, Forecast (7 Years) with CAGR
    • PEST and SWOT Analysis
    • Market Size Value / Volume - Global, Regional, Country
    • Industry and Competitive Landscape
    • Excel Dataset

    Testimonials

    Reason to Buy

    • Informed Decision-Making
    • Understanding Market Dynamics
    • Competitive Analysis
    • Identifying Emerging Markets
    • Customer Insights
    • Market Forecasts
    • Risk Mitigation
    • Boosting Operational Efficiency
    • Strategic Planning
    • Investment Justification
    • Tracking Industry Innovations
    • Aligning with Regulatory Trends
    Your Key Concerns Addressed - Question & Answer
    Can I view a sample of the report before purchasing?

    Yes! We provide a free sample of the report, which includes Report Scope (Table of Contents), report structure, and selected insights to help you assess the value of the full report. Please click on the "Download Sample" button or contact us to receive your copy.

    Is analyst support included with the purchase?

    Absolutely — analyst assistance is part of the package. You can connect with our analyst post-purchase to clarify report insights, methodology or discuss how the findings apply to your business needs.

    What are the next steps once I place an order?

    Once your order is successfully placed, you will receive a confirmation email along with your invoice.

    • For published reports: You’ll receive access to the report within 4–6 working hours via a secured email sent to your email.
    • For upcoming reports: Your order will be recorded as a pre-booking. Our team will share the estimated release date and keep you informed of any updates. As soon as the report is published, it will be delivered to your registered email.

    Can the report be tailored to suit my specific needs?

    We offer customization options to align the report with your specific objectives. Whether you need deeper insights into a particular region, industry segment, competitor analysis, or data cut, our research team can tailor the report accordingly. Please share your requirements with us, and we’ll be happy to provide a customized proposal or scope.

    In what format is the report delivered?

    The report is available in either PDF format or as an Excel dataset, depending on the license you choose.

    The PDF version provides the full analysis and visuals in a ready-to-read format. The Excel dataset includes all underlying data tables for easy manipulation and further analysis.
    Please review the license options at checkout or contact us to confirm which formats are included with your purchase.

    How secure is the payment process on your platform?

    Our payment process is fully secure and PCI-DSS compliant.

    We use trusted and encrypted payment gateways to ensure that all transactions are protected with industry-standard SSL encryption. Your payment details are never stored on our servers and are handled securely by certified third-party processors.
    You can make your purchase with confidence, knowing your personal and financial information is safe with us.

    Do you provide special pricing for buying multiple reports?

    Yes, we do offer special pricing for bulk purchases.
    If you're interested in purchasing multiple reports, we’re happy to provide a customized bundle offer or volume-based discount tailored to your needs. Please contact our sales team with the list of reports you’re considering, and we’ll share a personalized quote.

    Can I connect with your team to discuss the report before buying?

    Yes, absolutely.
    Our team is available to help you make an informed decision. Whether you have questions about the report’s scope, methodology, customization options, or which license suits you best, we’re here to assist. Please reach out to us at sales@theinsightpartners.com, and one of our representatives will get in touch promptly.

    Will I get a billing invoice upon purchase?

    Yes, a billing invoice will be automatically generated and sent to your registered email upon successful completion of your purchase.
    If you need the invoice in a specific format or require additional details (such as company name, GST, or VAT information), feel free to contact us, and we’ll be happy to assist.

    Is there support available if I can’t access my report?

    Yes, certainly.
    If you encounter any difficulties accessing or receiving your report, our support team is ready to assist you. Simply reach out to us via email or live chat with your order information, and we’ll ensure the issue is resolved quickly so you can access your report without interruption.

    Our Clients
    Sales Assistance
    US: +1-646-491-9876
    UK: +44-20-8125-4005
    Email: sales@theinsightpartners.com
    Chat with us
    DUNS Logo
    87-673-9708
    ISO Certified Logo
    ISO 9001:2015
    ISO Certified Logo