Press release
Heat Shrink Sleeve Market Sluggish Growth Rate Foreseen by 2030
Heat shrink sleeves are shrinkable plastic tubes that shrink radially when exposed to heat. These have a wide variety of applications such as for providing insulation, abrasion resistivity and environmental protection for standard wire connections. Also, these tubes are used for restoring the insulation of wires or bundle of multi-wires. Poly-olefins such as polyethylene or polypropylene are most commonly used for producing heat shrink sleeve as these have excellent physical and chemical properties. Advancement in technology for formulating heat shrink sleeves such as innovative methods of cross-linking polyolefin and new-generation adhesives that are designed to provide performance under more-demanding pipeline condition are providing an uplift to the market. Global heat shrink sleeve market is anticipated to grow in line with global GDP over the forecast period (2020-2030).
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Heat Shrink Sleeve Market: Market Dynamics
The key driving force of the heat shrink sleeve market is its usage in power generation sector. Due to the numerous power projects that are undertaken by several countries, the market for heat shrink sleeve will rise substantially in the coming years. For instance, large scale power generation projects such as Patratu Super Thermal Power Project – 4000MW (May 2018), Shandong Shenglu Coal-Fired Power Project (2016), Fujian Luoyuanwan Power Project (2015), Baihetan Hydropower Station (2013), etc. has been launched. Also, heat shrink sleeve market is expected to escalate swiftly due to its use in various industries such as pipeline, paper, textile, packaging, and electronics industries worldwide. However, on overheating, the heat shrink sleeves release hazardous thermal decomposition and combustion byproducts which is unfavorable for the environment. Also, availability of alternative products such as paper (up to certain temperature) is gaining more attention across the buyers as it is environment-friendly. Hence, the above mentioned reasons along with the non-biodegradable nature of sleeves tend to impede the market growth over the long term forecast.
Heat Shrink Sleeve Market: Segmentations
Based on the materials, the Heat Shrink Sleeve market is segmented as
Polyolefin
Fluoropolymer
FEP (Fluorinated Ethylene Propylene)
PTFE (Polytetrafluoroethylene)
PVC (Polyvinyl Chloride)
Neoprene
Silicon Elastomer or Viton
Others
Based on end-use industry, the Heat Shrink Sleeve is segmented as:
Pipeline
Pulp and Paper
Textile
Packaging
Electrical & Electronics
Others
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Heat Shrink Sleeve Market: Regional Outlook
The global Heat Shrink Sleeve market is divided into six regions including Latin America, North America, South Asia & Oceania, Europe, East Asia and MEA. East Asia accounts for over one-third of the global heat-shrink sleeve market owing to extensive electrical and electronics industry in the region. Moreover, countries like China are inclining towards developing advanced products to gain an advantage and has launched numerous power generation projects. Hence, forecast to witness a high growth by 2029 end. Europe and North America, on the other hand, have a mature heat shrink sleeve market showcasing a moderate growth over a forecast period. However, South Asia & Oceania and Latin America are anticipated to witness notable growth in coming years as the manufacturers are shifting towards low cost manufacturing countries and emerging countries such as Brazil, India, and Indonesia. Middle East & Africa offers great potential for heat shrink sleeve market growth owing to launch of new industrial projects in the region.
Heat Shrink Sleeve Market: Prominent Players
Prominent players for the global Heat Shrink Sleeve market are Raychem Corporation, Domadia (Dali Electronics), Nordson Medical, Sumitomo Electric, Alpha Wire, 3M, ZEUS, Qualtek, TE Connectivity, Thermosleeve, Guanghai Materials, Simaltia Corporation etc. Heat Shrink Sleeve market consists of numerous global and regional players with the global manufacturers dominating the market.
The research report presents a comprehensive assessment of the heat shrink sleeve market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The heat shrink sleeve market report provides analysis and information, according to market segments such as geographies, application and industry.
Heat Shrink Sleeve Market Report Covers Exhaustive Analysis On:
Market Segments
Market Dynamics
Market Size & Demand
Current Trends/Issues/Challenges
Competition & Companies involved
Technology
Value Chain
Heat shrink sleeve report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. Heat shrink sleeve report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. Heat shrink sleeve report also maps the qualitative impact of various market factors on market segments and geographies.
Heat Shrink Sleeve Market Report Highlights:
A Detailed overview of the parent market
Changing market dynamics in the industry
In-depth market segmentation
Historical, current and projected market size in terms of volume and value
Recent industry trends and developments
Competitive landscape
Strategies of key players and products offered
Potential and niche segments, geographical regions exhibiting promising growth
A neutral perspective on market performance
Must-have information for market players to sustain and enhance their market footprint
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