Heat shrink tubing market size is set to grow by USD 626.94 million from 2022-2027; Increasing use of bio-based heat shrink tubing boosts the market- Technavio

NEW YORK, June 20, 2023 /PRNewswire/ -- The heat shrink tubing market size is estimated to grow by USD 626.94 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.84% during the forecast period. The market is driven by the increasing use of bio-based heat shrink tubing. Numerous research-based institutes and manufacturing companies continuously pursue bio-based, renewable, and sustainable materials implementation for industrial applications. For example, effectively capturing carbon dioxide from sugar cane plantations and converting it into green shrink tubing reduces greenhouse gas emissions. Manufacturers, consumers, and government officials are joining forces to accelerate the development and adoption of bio-based heat shrink tubing. The APAC biobased market is expected to grow during the forecast period due to the growing popularity of biobased products. Furthermore, strict regulations on the use of synthetic polymers and growing environmental concerns are key factors that will positively impact market growth during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

Major challenges hindering the market growth

• Growing concern about plastic degradability is a major challenge to the growth of the global heat shrink tubing market.
• Plastic products contribute significantly to global environmental pollution.
• As plastic products are not easily degradable, it has become a primary environmental concern.
• Hence, plastics are being banned by many organizations, agencies, and governments. 
• Governments of several countries, including India, Italy, and Argentina, are encouraging industries to replace plastic products with biodegradable products. Therefore, the rising concern about pollution caused by using plastics is likely to hinder the growth of the market during the forecast period.

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Heat shrink tubing market - Segmentation Assessment
Segment Overview
Technavio has segmented the market based on type (OEMs and aftermarket), and end-user (utilities, automotive, food and beverage, chemical, and others)

• The market share growth by the OEMs segment will be significant during the forecast period. Commonly used by OEMs, heat shrink tubing is an integral part of any tool kit. Heat shrink tubing used by OEMs is chemically inert, water resistant, and can be manufactured in a variety of custom sizes with varying shrink rates. It is flexible, environmentally friendly, and also recyclable. These tubes are available in various sizes and designs. It helps to extend the product life by providing protection that resists the impacts of extreme heat, moisture, and corrosion. In addition, customization services, improved distribution networks, and quality products and services provided by OEMs are expected to boost the growth of the OEM segment of the global heat shrink tubing market during the forecast period. 

Geography Overview
By geography, the global heat shrink tubing market is segmented into APAC, North America, Europe, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global ethylene glycol market.

• APAC is estimated to contribute 33% to the growth of the global market during the forecast period. APAC held the largest market share in 2022 and is expected to grow significantly during the forecast period. This can be attributed to better access to electricity in the region, particularly in China, India, Australia, and some emerging economies in Southeast Asia. In addition, heavy investments are planned in the development of energy infrastructure to keep up with the burgeoning economic growth and sustain rapid industrialization. Favorable government support in the form of such investments is expected to increase domestic heat shrink tubing spending, contributing to the growth of the APAC heat shrink tubing market during the forecast period. 

Insights on the market contribution of various segments including country and region wise, historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report

Heat shrink tubing market – Vendor Analysis

Vendor Landscape - The global heat shrink tubing market is characterized by the presence of various vendors such as 3M Co., ABB Ltd., Alpha Wire Inc., ARTILABO International sprl, GREMCO GmbH, Gremtek SAS, HellermannTyton GmbH, Molex LLC, Nexans SA, Panduit Corp., Pexco LLC, Prysmian Spa, Shawcor Ltd., Shrink Sleeve Ltd., Taiwan Yun Lin Electronic Co. Ltd., TE Connectivity Ltd., Techflex Inc., Zeus Co. Inc., Jiangsu Dasheng Heat Shrinkable Material Co. Ltd., and Sumitomo Electric Industries Ltd. among others.

Heat shrink tubing market – Leading trends influencing the market 

• The advantages of polyolefin shrink films are the primary trend in the global heat shrink tubing market growth.
• These films are highly durable and versatile.
• The use of PVC in many applications has been replaced by these films which are also approved by the FDA for food-safe material. 
• Benefits like their versatility and low cost, make them a preferred choice for packaging manufacturers. 
• These factors will positively impact the growth of the market during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021) and forecast period (2023 to 2027)- Request a sample report!

What are the key data covered in this Heat shrink tubing market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the Heat shrink tubing market between 2023 and 2027
• Precise estimation of the size of the Heat shrink tubing market size and its contribution to the market in focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the Heat shrink tubing market across APAC, North America, Europe, South America, and Middle East and Africa
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of Heat shrink tubing market vendors

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Table of Contents:

1 Executive Summary

• 1.1 Market overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 06: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global heat shrink tubing market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global heat shrink tubing market 2017 - 2021 ($ million)

• 4.2 Type Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – Type Segment 2017 - 2021 ($ million)

• 4.3 End-user Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – End-user Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by Type

• 6.1 Market segments
• Exhibit 30: Chart on Type - Market share 2022-2027 (%)
• Exhibit 31: Data Table on Type - Market share 2022-2027 (%)

• 6.2 Comparison by Type
• Exhibit 32: Chart on Comparison by Type
• Exhibit 33: Data Table on Comparison by Type

• 6.3 OEMs - Market size and forecast 2022-2027 
• Exhibit 34: Chart on OEMs - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on OEMs - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on OEMs - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on OEMs - Year-over-year growth 2022-2027 (%)

• 6.4 Aftermarket - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Aftermarket - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Aftermarket - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Aftermarket - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Aftermarket - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by Type 
• Exhibit 42: Market opportunity by Type ($ million)

7 Market Segmentation by End-user

• 7.1 Market segments
• Exhibit 43: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 44: Data Table on End-user - Market share 2022-2027 (%)

• 7.2 Comparison by End-user 
• Exhibit 45: Chart on Comparison by End-user
• Exhibit 46: Data Table on Comparison by End-user

• 7.3 Utilities - Market size and forecast 2022-2027 
• Exhibit 47: Chart on Utilities - Market size and forecast 2022-2027 ($ million)
• Exhibit 48: Data Table on Utilities - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Chart on Utilities - Year-over-year growth 2022-2027 (%)
• Exhibit 50: Data Table on Utilities - Year-over-year growth 2022-2027 (%)

• 7.4 Automotive - Market size and forecast 2022-2027 
• Exhibit 51: Chart on Automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 52: Data Table on Automotive - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Chart on Automotive - Year-over-year growth 2022-2027 (%)
• Exhibit 54: Data Table on Automotive - Year-over-year growth 2022-2027 (%)

• 7.5 Food and beverage - Market size and forecast 2022-2027 
• Exhibit 55: Chart on Food and beverage - Market size and forecast 2022-2027 ($ million)
• Exhibit 56: Data Table on Food and beverage - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Chart on Food and beverage - Year-over-year growth 2022-2027 (%)
• Exhibit 58: Data Table on Food and beverage - Year-over-year growth 2022-2027 (%)

• 7.6 Chemical - Market size and forecast 2022-2027 
• Exhibit 59: Chart on Chemical - Market size and forecast 2022-2027 ($ million)
• Exhibit 60: Data Table on Chemical - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Chart on Chemical - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Chemical - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 63: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 64: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by End-user 
• Exhibit 67: Market opportunity by End-user ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027 
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 North America - Market size and forecast 2022-2027 
• Exhibit 77: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 78: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 79: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.5 Europe - Market size and forecast 2022-2027 
• Exhibit 81: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 82: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 83: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.6 South America - Market size and forecast 2022-2027 
• Exhibit 85: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 86: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 87: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.7 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 89: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 90: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 91: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 93: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 94: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 95: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 97: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 98: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 99: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 101: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 102: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 103: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Taiwan - Market size and forecast 2022-2027 
• Exhibit 105: Chart on Taiwan - Market size and forecast 2022-2027 ($ million)
• Exhibit 106: Data Table on Taiwan - Market size and forecast 2022-2027 ($ million)
• Exhibit 107: Chart on Taiwan - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on Taiwan - Year-over-year growth 2022-2027 (%)

• 9.12 Japan - Market size and forecast 2022-2027 
• Exhibit 109: Chart on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 110: Data Table on Japan - Market size and forecast 2022-2027 ($ million)
• Exhibit 111: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 3M Co.
• Exhibit 120: 3M Co. - Overview
• Exhibit 121: 3M Co. - Business segments
• Exhibit 122: 3M Co. - Key offerings
• Exhibit 123: 3M Co. - Segment focus

• 12.4 ABB Ltd.
• Exhibit 124: ABB Ltd. - Overview
• Exhibit 125: ABB Ltd. - Business segments
• Exhibit 126: ABB Ltd. - Key offerings
• Exhibit 127: ABB Ltd. - Segment focus

• 12.5 Alpha Wire Inc.
• Exhibit 128: Alpha Wire Inc. - Overview
• Exhibit 129: Alpha Wire Inc. - Product / Service
• Exhibit 130: Alpha Wire Inc. - Key offerings

• 12.6 ARTILABO International sprl 
• Exhibit 131: ARTILABO International sprl - Overview
• Exhibit 132: ARTILABO International sprl - Product / Service
• Exhibit 133: ARTILABO International sprl - Key offerings

• 12.7 GREMCO GmbH
• Exhibit 134: GREMCO GmbH - Overview
• Exhibit 135: GREMCO GmbH - Product / Service
• Exhibit 136: GREMCO GmbH - Key offerings

• 12.8 Gremtek SAS
• Exhibit 137: Gremtek SAS - Overview
• Exhibit 138: Gremtek SAS - Product / Service
• Exhibit 139: Gremtek SAS - Key offerings

• 12.9 Jiangsu Dasheng Heat Shrinkable Material Co. Ltd. 
• Exhibit 140: Jiangsu Dasheng Heat Shrinkable Material Co. Ltd. - Overview
• Exhibit 141: Jiangsu Dasheng Heat Shrinkable Material Co. Ltd. - Product / Service
• Exhibit 142: Jiangsu Dasheng Heat Shrinkable Material Co. Ltd. - Key offerings

• 12.10 Nexans SA
• Exhibit 143: Nexans SA - Overview
• Exhibit 144: Nexans SA - Business segments
• Exhibit 145: Nexans SA - Key offerings
• Exhibit 146: Nexans SA - Segment focus

• 12.11 Panduit Corp.
• Exhibit 147: Panduit Corp. - Overview
• Exhibit 148: Panduit Corp. - Product / Service
• Exhibit 149: Panduit Corp. - Key offerings

• 12.12 Pexco LLC
• Exhibit 150: Pexco LLC - Overview
• Exhibit 151: Pexco LLC - Product / Service
• Exhibit 152: Pexco LLC - Key offerings

• 12.13 Prysmian Spa
• Exhibit 153: Prysmian Spa - Overview
• Exhibit 154: Prysmian Spa - Business segments
• Exhibit 155: Prysmian Spa - Key offerings
• Exhibit 156: Prysmian Spa - Segment focus

• 12.14 Shawcor Ltd.
• Exhibit 157: Shawcor Ltd. - Overview
• Exhibit 158: Shawcor Ltd. - Business segments
• Exhibit 159: Shawcor Ltd. - Key offerings
• Exhibit 160: Shawcor Ltd. - Segment focus

• 12.15 Sumitomo Electric Industries Ltd. 
• Exhibit 161: Sumitomo Electric Industries Ltd. - Overview
• Exhibit 162: Sumitomo Electric Industries Ltd. - Business segments
• Exhibit 163: Sumitomo Electric Industries Ltd. - Key news
• Exhibit 164: Sumitomo Electric Industries Ltd. - Key offerings
• Exhibit 165: Sumitomo Electric Industries Ltd. - Segment focus

• 12.16 TE Connectivity Ltd.
• Exhibit 166: TE Connectivity Ltd. - Overview
• Exhibit 167: TE Connectivity Ltd. - Business segments
• Exhibit 168: TE Connectivity Ltd. - Key offerings
• Exhibit 169: TE Connectivity Ltd. - Segment focus

• 12.17 Techflex Inc.
• Exhibit 170: Techflex Inc. - Overview
• Exhibit 171: Techflex Inc. - Product / Service
• Exhibit 172: Techflex Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations 
• Exhibit 179: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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