DUBLIN--(BUSINESS WIRE)--The "Heat-Shrink Tubing Market by Voltage (Low, Medium, and High), Material (Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene), End-User (Utilities, Chemical, Automotive, Food & Beverage), Region - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The heat-shrink tubing market is expected to grow from an estimated USD 1.8 billion in 2019 to USD 2.3 billion by 2024, at a CAGR of 5.3% during the forecast period.
A heat-shrink tube is a shrinkable tube used to provide electrical insulation, mechanical protection, environmental protection, and mechanical strain relief for connections, joints, and terminals in electrical work. The unshrunk tube is fitted on the wire and is shrunk using a hot air gun, soldering iron, or through heat from a lighter to wrap around the joint, terminal, and connections tightly.
Some types of heat-shrink tubes contain a layer of adhesive on the inside to provide a good seal and better adhesion. A heat-shrink tube protects cables and wires where they may be exposed to moisture, temperature, humidity, and dust. It is also used to bundle the cables together. It is available in different sizes, colors, tubing types, tubing materials, and shrink ratio. Its major end-user industries include utilities, automotive, chemical, healthcare, and others.
The heat-shrink tubing market is segmented by material, voltage, end-user, and region. The study covers the major regions such as Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Asia Pacific dominated the heat-shrink tubing market in 2018. Asia Pacific was the fastest-growing heat-shrink tubing market in 2018.
China and India are expected to grow at a fast pace during the forecast period. Government initiatives to expand and upgrade T&D systems and continuous increase in the global power generation capacity would also boost the demand for the heat-shrink tubing market globally.
The leading players in the heat shrink tubing market are ABB (Switzerland), 3M (US), TE Connectivity (Switzerland), Sumitomo Electric (Japan), HellermannTyton (West Sussex), Alpha Wire (US), Qualtek (US), Insultab (US), Woer (China), and Guanghai Material (China).
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
5.2 Market Dynamics
18.104.22.168 Government Initiatives to Expand and Upgrade T&D Systems
22.214.171.124 Continuous Increase in the Global Power Generation Capacity
126.96.36.199 Government Regulations on the Emission of Toxic Gases
188.8.131.52 Growing Usage of Heat-Shrink Tubes in the Automotive Industry
184.108.40.206 Availability of Low-Quality and Inexpensive Products in the Gray Market
220.127.116.11 Improper Installation of Heat-Shrink Tubes
6 Market, By Voltage
6.2 Low Voltage
6.2.1 Growing Usage of Heat-Shrinkable Tubes for Insulation and Sealing Cables is Expected to Foster Their Demand
6.3 Medium Voltage
6.3.1 Use of Heat-Shrink Tubes for Insulation Purposes in Terminations and Joints is Likely to Fuel the Market
6.4 High Voltage
6.4.1 High Demand for Heat-Shrinkable Tubes for Improving Long-Distance T&D Infrastructure is Likely to Boost the Market
7 Market, By Material
7.2.1 Flame-Retardant Property of Polyolefin Heat-Shrink Tubing are Expected to Foster Its Demand
7.3 Polytetrafluoroethylene (PTFE)
7.3.1 Growing Usage of PTFE Heat-Shrinkable Tube in Medical Equipment is Likely to Foster the Market
7.4 Fluorinated Ethylene Propylene (FEP)
7.4.1 High Demand for FEP Heat-Shrinkable Tube in Food & Beverage Industry is Likely to Foster the Market
7.5 Perfluoroalkoxy Alkane (PFA)
7.5.1 High-Temperature Resistant Property of PFA is Likely to Foster Its Demand in the Market
7.6 Ethylene Tetrafluoroethylene (ETFE)
7.6.1 Abrasion and Crush-Resistance Property of ETFE and Its Low Cost are Likely to Boost Its Demand
8 Market, By End-User
8.2.1 Protection for Wires & Cables Against Harmful Environmental Elements and Investments in the T&D Infrastructure are Expected to Drive the Market
8.3.1 Government Regulations Mandating the Use of Biodegradable Automotive Components and Increasing Investments in the Automotive Sector are Likely to Drive the Market
8.4 Food & Beverage
8.4.1 Usage of Heat-Shrinkable Tubes for Fungus, Moisture, and Uv Resistance to Maintain High-Quality Materials is Likely to Foster the Market
8.5.1 Increasing Demand for Thin, Highly Abrasive, and Chemically Resilient Tubings in the Chemical Industry is Likely to Boost the Market
9 Market, By Region
- Alpha Wire
- Changchun Heat Shrinkable Materials
- Dasheng Heat Shrinkable Material
- Guanghai Materials
- Sumitomo Electric
- TE Connectivity
For more information about this report visit https://www.researchandmarkets.com/r/txna49