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

According to The Business Research Company’s Heat Shrink Tubing And Sleeves Global Market Report 2023, the global heat shrink tubing and sleeves market size is expected to grow from $1.86 billion in 2022 to $1.98 billion in 2023 at a compound annual growth rate (CAGR) of 6.75%. The global heat shrink tubing and sleeves market size is expected to reach $2.50 billion in 2027 at a CAGR of 6.01%.

North America held the largest heat shrink tubing and sleeves market share, and Asia-Pacific was the fastest-growing region in 2022.

Heat Shrink Tubing And Sleeves Market Driver

The increasing demand for electrical and electronics products is expected to propel the growth of the heat shrink tubing and sleeves market going forward. Electrical and electronic equipment refers to devices and systems that utilize electricity and electronic components to perform specific functions. Higher demand for various electrical and electronic products, including wires, cables, connectors, and electronic components, requires heat shrink tubing and sleeves that offer excellent insulation properties, protecting wires and cables from other environmental factors such as moisture, chemicals, and abrasion. For instance, in May 2023, according to the United Nations COMTRADE database, a part of the United Nations Statistics Division, exports of electrical and electronic equipment in the US accounted for US$197.75 billion in 2022, compared to US$185 billion in 2021, with an approximate increase of 7%. Therefore, increasing demand for electrical and electronics products is driving the growth of the heat shrink tubing and sleeves market.

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Key Heat Shrink Tubing And Sleeves Market Segments

1) By Product Type: Tubes, Sleeves, Other Accessories

2) By Material Type: Polyolefin (POE), Polyether Ether Ketone (PEEK), Ethylene Tetrafluoroethylene (ETFE), Ethylene Vinyl Acetate (EVA), Polytetrafluoroethylene (PTFE), Fluorinated Ethylene Propylene (FEP), Perfluoroalkoxy Alkane (PFA), Other Materials

3) By Length: Spool, Standard (1.2 Meter), Non-Standard Cut Pieces, Custom

4) By Sales Channel: Original Equipment Manufacturer (OEM), Aftermarket

5) By Applications: Automotive, Aerospace, Railways, Telecommunication, Energy, Electrical Engineering Goods And Components, Home Appliances, Defense And Armaments, Other Applications

Heat Shrink Tubing And Sleeves Market Prominent Players

Major players in the heat shrink tubing and sleeves market are HellermannTyton, Molex Electronic Solutions, Panduit, Shrink Sleeves Ltd., TE Connectivity, ABB Ltd., The 3M Company, Wurth Elektonik Company, Techflex Inc., Artilabo International, Gremtek SAS, Pexco LLC, DSG-Canusa, Don-Polymer Ltd., and Essentra PLC.

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Prominent Heat Shrink Tubing And Sleeves Market Trend

Advances in technology and innovation are a key trend gaining popularity in the heat-shrink tubing and sleeves market. Companies operating in the heat-shrink tubing and sleeves market are adopting innovative technologies to advance product development and sustain their position in the market. For instance, in June 2021, Nexans, a France-based cable and optical industry, launched Nexans’ JTS system to minimize the risk of joint failure in the electrical network. The JTS range offers high-performance, compact, and easy-to-install heat-shrinkable cable joints for medium voltage applications (11–36 kV). Utilizing triple-wall tube technology, these joints simplify the installation process by reducing the number of tubes required for heat shrinking. This not only saves time but also minimizes the risk of joint failure.

The Heat Shrink Tubing And Sleeves Global Market Report 2023  provides comprehensive insights on the heat shrink tubing and sleeves market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the heat shrink tubing and sleeves market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

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