Heat Shrink Tubing and Sleeves Market Revenue, Opportunity, Segment and Key Trends 2018 - 2028

Market Overview

The history of cable insulation dates way back to the late 18th century, when vulcanized rubber was used for insulation of wires to be used in high voltage circuits. It was then, in 1895, that mass impregnated paper insulated medium voltage cables became commercial for numerous applications. With advancements in technology, there were numerous other insulation materials being introduced to cope with the increasing demand for superior quality wire and cable insulation for use in high voltage applications. Furthermore, electrical wires are somewhat flexible, owing to which they require sheaths and insulation to withstand the forces of repeated abrasion and flexing. Attributing to this, heat shrink tubing and sleeves are becoming a popular alternative for insulation of cables and wires across the globe.

Heat shrink tubing and sleeves are activated when they are heated. These are most commonly used to insulate cables, wire terminals and joints, due to their slug fit and durable exterior, which protects wires against abrasions and environmental effects. Heat shrink tubing and sleeves vary in thickness, size and material depending on their application. Moreover, increasing industrialization across the globe is anticipated to further fuel the consumption of electricity, which is expected to simultaneously ramp up the demand for electrical insulation materials such as heat shrink tubing and sleeves. The market is governed by a set of tier-1 players who hold a significant share on the regional and local level.

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Reason for Covering this Title

The overall electrical insulation material market is slated to have a positive outlook in India, China, the U.S. and European countries. This can be primarily attributed to the increasing consumption of electricity in these regions. Furthermore, increasing investments towards modernization of transmission and distribution framework across developing countries are expected to further ramp up the market in the coming years. This is anticipated to create ample opportunities for manufacturers to augment their business operations in the coming years.

Product Definition and Segmentation

Heat shrink tubing and sleeves are handy for preventive repair and maintenance activities as they can be used for minor repairs in connectors and cables. The heat shrink tubing and sleeves market can be segmented on the basis of the following criteria:

By type:

Polytetrafluoroethylene (PTFE)
Fluorinated ethylene propylene (FPE)
Perfluoroalkoxy alkane (PFA)
Ethylene Tetrafluoroethylene (ETFE)
Polyethylene Terephthalate (PET)
Polyether Ether Ketone (PEEK)
By end use:

Chemical
Automotive
Aerospace
Food and Beverages
Healthcare
Modernization and Augmentation of transmission and distribution network in developing economies

Numerous developing and developed economies across the globe are making efforts for modernization and augmentation of transmission and distribution networks by improving electric transmission infrastructure. Among renewable sources of energy, this will ensure better integration into the grid, catalyzing the transition into clean energy. With such initiatives, the demand for repair and maintenance of electrical transmission lines in many countries has increased considerably, which is further anticipated to boost the demand for insulating materials such as heat shrink tubing and sleeves which help in preventive maintenance of cables and wires. Moreover, many developing nations are focusing on upgrading their ageing technology, which is anticipated to further promote the growth of the heat shrink tubing and sleeves market over the assessment period.

Increasing demand for electricity across the globe

With increasing population and urbanization across the globe, the demand for electricity is anticipated to increase considerably in the coming years. According to a study, the demand for electricity is projected to be doubled by the end of 2060. Such factors are anticipated to drive the demand for electrical cables and wires, which is expected to subsequently surge the demand for heat shrink tubing and sleeves.

Regional Market Outlook

The global heat shrink tubing and sleeves market can be segmented into the following regions – North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. China and India are anticipated to dominate the market, owing to the increasing investments in transmission and distribution capital expenditure. North America is slated to provide ample growth opportunities over the assessment period. This can primarily be attributed to the higher consumption of electrical insulation materials in countries such as the U.S. Though energy efficiency has increased considerably in recent years, electricity consumption has increased yet more considerably in Europe. This is anticipated to further supplement the growth of the heat shrink tubing and sleeves market in the coming years.

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Global Heat Shrink Tubing and Sleeves Market: Key Players

Some of the key players identified in the global heat shrink tubing and sleeves market are TE Connectivity, Zeus Industrial Products, Inc., The 3M Company, DSG-Canusa GmbH, Changyuan Group, Ltd., HellermannTyton, Qualtek Energy Corporation, Alpha Wire, Insultab, Dasheng Group, Molex, LLC, Shenzhen Woer Heat-Shrinkable Material Co., Ltd., Techflex, Inc., Dongguan Salipt Co.,Ltd, Taiwan Yun Lin Electronic Co., Ltd. and Sumitomo Electric Industries, Ltd.

Global Heat Shrink Tubing and Sleeves Market: Key Developments

In 2015, TE Connectivity introduced new dual wall heat shrink tubing products that meet the UL VW-1 flammability requirement
In 2015, Zeus Industrial Products LLC launched a new peelable heat shrink for extruded polymer testing solutions
Opportunities for Market Participants

Increasing opportunities in the automotive, chemical, food and beverage industries are anticipated to create avenues for market participants to introduce new products and give a necessary boost to their revenue stream in the coming years. Furthermore, with a continuous increase in the global power generation capacity, the demand for electrical insulation materials is anticipated to increase considerably. This is expected to further create opportunities for augmentation of the market in the coming years.

Brief Approach to Research

FMI will follow a modelling-based approach and triangulation methodology to estimate data covered in this report. A detailed analysis of the product type and its end uses is covered in the study. Moreover, the parent market (electrical insulation materials) is being studied thoroughly in order to derive suitable insights about the heat shrink tubing and sleeves market. In depth analysis from both the supply and the demand side is being carried out in order to reach to a suitable market size. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.

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Key Data Points Covered in the Report

Some of the key data points covered in our report include:

An overview of the Heat shrink tubing and sleeves market, including background and evolution
Macroeconomic factors affecting the heat shrink tubing and sleeves market and its potential
Market dynamics, such as drivers, challenges and trends
Technology roadmap involved from inception to present date
Detailed value chain analysis of the heat shrink tubing and sleeves market
Cost structure of the products and segments covered in the global heat shrink tubing and sleeves market
In-depth pricing analysis by key product segments, regions and major heat shrink tubing and sleeves market participants
Analysis of supply and demand, such as top producing and consuming geographies, imports/exports and overall trade scenario in the global heat shrink tubing and sleeves market
Analysis of the global heat shrink tubing and sleeves market structure, including a tier-wise categorization of key heat shrink tubing and sleeves market participants

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This release was published on openPR.