The global Heat Shrink Tubing And Sleeves Market is anticipated at USD 1,995 million in 2022. Demand is likely to remain high for heat shrink tubing and sleeves during the assessment period.
This is due to the rapid development of end-use industries garnering USD 3,865 million in 2033, recording a CAGR of 6.2% from 2023 to 2033. The market is likely to secure USD 2,118 million in 2023.
| Data Points | Key Statistics |
|---|---|
| Heat Shrink Tubing and Sleeves Market Size Value in 2023 | USD 2,118 million |
| Heat Shrink Tubing and Sleeves Market Forecast Value in 2033 | USD 3,865 million |
| Global Growth Rate | 6.2% CAGR |
| Forecast Period | 2023 to 2033 |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
| Historical CAGR (2018 to 2022) | 5.7% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 6.2% |
Rising demand for safer alternatives for electronic components used in automotive, aerospace, telecommunications and other end-use industries is driving sales of heat shrink tubing and sleeves.
As per FMI’s analysis, the global heat shrink tubing and sleeves market is projected to grow at 6.2% CAGR between 2023 and 2033, in comparison to a 5.7% CAGR registered during 2018-2022.
Rapid urbanization and increasing population across the globe are spurring demand for electricity distribution in residential and commercial projects. Such developments in the energy sector are anticipated to propel sales of the heat shrink tubing and sleeves market in the forthcoming years.
Heat shrink tubing and sleeves find applications in a myriad of high-growth potential industries such as telecommunications, automotive, transport, oil & gas, and electric and electronic. Expansions of these industries will continue spurring demand for heat shrink tubing and sleeves over the forecast period.
Leading players operating in the heat shrink tubing and sleeves market are focusing on expanding their product portfolio by investing in research & development activities for new products with improved durability. Apart from this, expansions of OEM channels and customization in products offered by market players will continue augmenting market growth through 2031.
Principal Consultant
Increasing Application in Various End-Use Industries to Drive the Market Growth
Heat shrink tubing and sleeves are used in a variety of industries such as automotive, electronics, telecommunications, and transportation. The main purpose of their application is to improve the protection, maintenance, and lifetime of wires in a circuit.
In low-impact situations, wires and cables are subjected to abrasion, scuffing, cutting, and overheating. Heat shrink tubing acts as a cable entry seal that can potentially protect cables and wires from external environmental factors such as oils, water, acids, and atmospheric factors such as humidity and overwhelming temperature.
Increasing Technological Innovations to Boost the Market Sales
With technological advancements and innovations, manufacturers have been able to design effective heat shrink tubing and sleeves that can operate even at -65°C to +260°C, providing efficient protection against water and moisture.
The heat shrink tubing and sleeves are used as an additional protective layer that reduces strain and external tension that might reduce the life span of wires. The durable nature provides mechanical support to wires and reduces external strain on connector pins.
In some cases, heat shrink tubing and sleeves are also used as rust-protective hardware in metal piping and welded joints. The insulation coating of stainless-steel tubes might get depleted during welding; hence, heat shrink tubes provide protection and eliminate rusting in joints and piping.
The adhesive layer in heat shrink tubing merges with the metal surface of the piping, protecting it from rust and other damaging factors.
Backed by the aforementioned benefits of heat shrink tubing and sleeves, demand for the same is anticipated to surge at a steady pace over the forecast period.
Increasing Applications in Various End-Use Industries to Drive Market Growth in The Region
The United States is expected to account for a CAGR of nearly 6.0% of the North American heat shrink tubing and sleeves market through 2031. Growing demand for heat shrink tubing and sleeves from industries such as aerospace, automotive, electric, and electronic will continue fostering sales of heat shrink tubing and sleeves during the assessment period.
The presence of key market players and the emergence of new OEMs, along with the expansion of the plastic industry are anticipated to boost demand for heat shrink tubing and sleeves.
Increased focus on upgrading aging infrastructure, increasing investments in renewable energy projects, and the emphasis on electrical safety regulations contribute to the market growth in this region.
Rapid Industrialization to Accelerate the Market Demand in The Region
China is one of the key exporters and producers of heat shrink tubing and sleeves. As per FMI’s analysis, the Chinese heat shrink tubing and sleeves market is poised to expand at a 5.9% CAGR during the forecast period.
The rapid industrialization and expansion of the electrical and electronics industry, automotive production, and construction activities fuel the demand for heat shrink tubing and sleeves in China
Increasing demand from countries such as the United States, India, Germany, and the United Kingdom is anticipated to shape the demand outlook for heat shrink tubing and sleeves positively.
The Growth of the Consumer Electronic Sector to Boost the Market Sales in Europe
Europe is anticipated to account for over 22.4% of the global heat shrink tubing and sleeves market, opines FMI. Increasing demand for heat shrink tubing and sleeves in countries such as Germany, France, the United Kingdom, and Russia will continue boosting sales of heat shrink tubing and sleeves in Europe through 2031.
Europe is home to key players operating in the automotive, defense, and consumer electronic goods industries, which is further anticipated to augment heat shrink tubing and sleeves growth in the forthcoming years.
The increasing emphasis on energy-efficient buildings, renewable energy installations, and infrastructure development projects drives the demand for heat-shrink products in the region.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Polyolefin to Emerge as the Most-Preferred Material Type
Based on material type, Polyolefin is anticipated to dominate the category, accounting for nearly 18.5% of the market volume share and 13.7% of the market value share in 2023.
Rising demand from the automotive and aerospace industries will continue propelling sales of polyolefin-based heat shrink tubing and sleeves through 2033.
Demand for Tubes to Gain Traction
In terms of product type, the tubes segment is anticipated to create approximately USD 670.5 million incremental opportunity for the global heat shrink tubing and sleeves market in 2023.
Increasing production in the automotive, defens,e and aerospace sectors is spurring demand for pipes with different diameters for various applications. This factor is ushering development of new and innovative products in the tubes segment, thereby propelling sales of the same.
Standard Length Heat Shrink Tubing and Sleeves to Remain Highly Sought-After
The standard (1.2metersr) segment is estimated to create around USD 495.57 million incremental opportunity during the assessment period. The versatility and easy availability of standard-length heat shrink tubing and sleeves is anticipated to drive sales of the same for usage in various end-use sectors.
Applications of Heat Shrink Tubing and Sleeves in the Automotive Sector to Continue Rising
Based on Application the heat shrink tubing and sleeves market is segmented into automotive, aerospace, and railways segments. As per FMI’s analysis, the automotive sector is estimated to hold 16% of the global heat shrink tubing and sleeves market in 2023.
Expansion of the automotive sector across the globe, heat shrink tubing is used for cable management in automobiles, helping to organize and secure cables and wires.
Sales of Heat Shrink Tubing and Sleeves through OEMs to Remain High
Based on the sales channel, the OEM segment is projected to capture 59% of the total heat shrink tubing and sleeves market share. Improvements in the distribution network, customization services, and high-quality products and services offered by OEMs are anticipated to usher advancements in this segment.
Key players operating in the global heat shrink tubing and sleeves market are focusing on strategic collaborations, mergers, and acquisitions to strengthen their product portfolios and global footprint.
The leading companies operating in the market are:
The recent development from the key players include:
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 6.2% from 2023 to 2033 |
| Market Value in 2023 | USD 2,118 million |
| Market Value in 2033 | USD 3,865 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD million and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Material Type, Length, Product Type, Sales Channel, Applications, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; Middle East and Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled |
HellermannTyton; Molex Electronic Solutions; Panduit; Shrink Sleeves Ltd.; TE Connectivity; ABB Ltd.; The 3M Company; Wurth Elektonik Company; Techflex; Artilabo International; Gremtek SAS; PEXCO; DSK-CANUSA; WKK Nederland’s B.V.; Essentra PLC; Plastpolymer Prom LLC; Don-Polymer Ltd. |
| Customization & Pricing | Available upon Request |
As of 2023, the market for heat shrink tubing and sleeves is expected to be valued at USD 2118 million, as per FMI
By 2033, the market value of heat shrink tubing and sleeves is expected to reach USD 3865 million
From 2023 to 2033, heat shrink tubing and sleeves sales are expected to flourish at a CAGR of 6.2%
Based on application, the energy sector segment is expected to account for a CAGR of 5.9% during the forecast period.
Based on material type the polyolefin segment dominates the market with a CAGR of 6.0% during the forecast period.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material Type 5.1. Polyolefin (POE) 5.2. Ethylene Vinyl Acetate (EVA) 5.3. Polytetrafluoroethylene (PTFE) 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Length 6.1. Spool 6.2. Standard (1.2 Meter) 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 7.1. Tubes 7.2. Sleeves 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 8.1. Original Equipment Manufacturer (OEM) 8.2. Aftermarket 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Applications 9.1. Automotive 9.2. Aerospace 9.3. Railways 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 10.1. North America 10.2. Latin America 10.3. Western Europe 10.4. Eastern Europe 10.5. South Asia and Pacific 10.6. East Asia 10.7. Middle East and Africa 11. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 18. Key Countries Market Analysis 19. Market Structure Analysis 20. Competition Analysis 20.1. HellermannTyton 20.2. Molex Electronic Solutions 20.3. Panduit 20.4. Shrink Sleeves Ltd. 20.5. TE Connectivity 20.6. ABB Ltd. 20.7. The 3M Company 20.8. Wurth Elektronik Company 20.9. Techflex 20.10. Artilabo International 20.11. Gremtek SAS 20.12. PEXCO 20.13. DSK-CANUSA 20.14. WKK Nederland’s B.V. 20.15. Essentra PLC 20.16. Plastpolymer Prom LLC 20.17. Don-Polymer Ltd. 21. Assumptions & Acronyms Used 22. Research Methodology
Oil and Gas
April 2023
REP-GB-7389
306 pages
Explore Industrial Automation Insights
View Reports
Heat Shrink Tubing and Sleeves Market
