The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

A steady expansion in worldwide power generation capacity is likely to stimulate innovation in heat-shrink tubing manufacturing, propelling the market throughout the forecast period.

The global heat-shrink tubing market is expected to grow from $2.03 billion in 2022 to $2.14 billion in 2023 at a compound annual growth rate (CAGR) of 5.4The global heat-shrink tubing market size is expected to reach $2.67 billion in 2027 at a CAGR of 5.8%.

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Global Heat-Shrink Tubing Market Segments Include:

• By Type: Single Wall, Double Wall
• By Material: Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoroalkoxy Alkane, Ethylene Tetrafluoroethylene, Other Materials
• By Voltage: Low Voltage, Medium Voltage, High Voltage
• By End-User: Chemical, Pharmaceutical, Food And Beverage, Automotive, Utilities, Other End-Users
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America is the largest region in the global heat-shrink tubing market in 2021.

Major Market Players in the heat-shrink tubing market include ABB Ltd., 3M, TE Connectivity, Sumitomo Electric Industries Ltd., HellermannTyton, Alpha Wire, Qualtek Electronics, Insultab Inc., Shenzhen Woer Heat, Huizhou Guanghai Electronic Insulation Materials Co. Ltd.

Automation of heat shrink tubing is a major concept that is gaining traction in the heat shrink tubing market. Major players in the heat-shrinking tubing market are focusing on product innovation in order to strengthen and preserve their market position. CORTEC Corp, a corrosion solutions firm based in the United States, for example, released a new bespoke VpCI (vapour corrosion inhibitor)-126 Shrink Film for metal packaging in automated heat shrink and heat seal tunnels in May 2022. The vapour phase corrosion inhibitors (VpCI®) in the film form a protective molecular layer on metal surfaces inside the packaging and are ideal for heavy-duty packing of industrial equipment and assets for shipping or storage to prevent rusting. Furthermore, consumer items that undergo automatic heat shrinking are wrapped in highly fragile films and frequently do not require corrosion protection, whereas tiny metal products benefit from both corrosion prevention and automated packing.

The Heat-Shrink Tubing Global Market Report 2023  provides a heat-shrink tubing market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The heat-shrink tubing market forecast analyzes heat-shrink tubing market size, heat-shrink tubing market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Heat-shrink tubing is a shrinkable thermoplastic plastic tube that is wrapped around wire arrays and electrical components to insulate and protect stranded and solid wire conductors, connectors, couplings, and terminals from the environment. It is used to add mechanical support to wires and cables that would otherwise be subjected to strain and stress, perhaps resulting in premature failure.

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