The comprehensive industry research on “Asia-Pacific Heat Shrink Tubing Market” published by Data Bridge Market Research which includes growth analysis, regional marketing, challenges, opportunities, and drivers analyzed in the report. The transformation in the market landscape is analyzed in the superior Asia-Pacific Heat Shrink Tubing market report which is mainly observed due to the moves of key players or brands which include developments, product launches, joint ventures, mergers, and acquisitions that in turn change the view of the global face of the industry. Proficient and radiant forecasting techniques used in the report are identical in accuracy and correctness. The report provides classification by companies, region, type, and end-use industry. While preparing the Asia-Pacific Heat Shrink Tubing market research report, customer satisfaction has been kept on the utmost priority which makes clients rely on us confidently. Businesses can assertively use the data, statistics, research, and insights about the market covered in the superior market report to make decisions about business strategies and to achieve maximum return on investment (ROI).
Heat shrink tubing market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 5.4% in the forecast period of 2021 to 2028 and expected to reach USD 546.56 million by 2028. Wide adoption of heat shrink tube in various industry is acting as major factor for the growth of the market.
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Europe Heat Shrink Tubing Market Scope and Market Size
The heat shrink tubing market is segmented on the basis of type, product type, material, voltage, shrink ratio and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the heat shrink tubing market is segmented into single wall and dual wall. In 2021, the single wall holds the largest market share in the type segment as it offers superior insulation strain relief and protection against mechanical damage and abrasion versus taping and molding. Moreover, it also provides quick insulation and protection.
- On the basis of product type, the heat shrink tubing market is segmented into spools, pre-cut lengths and others. In 2021, spools dominate the overall market with maximum market share owing to their extra insulation adhesive feature. Moreover, increased production of spools by varied manufacturers to cater to the rising demand is also one factor driving the segment growth.
- On the basis of material, the heat shrink tubing market is segmented into polyolefin, per fluoroalkoxy alkane (PFA), poly tetra fluoro ethylene (PTFE), ethylene tetra fluoro ethylene (ETFE), fluorinated ethylene propylene (FEP), polyether ether ketone (PEEK) and others. In 2021, the polyolefin segment holds highest market share as it has excellent physical, chemical and electrical characteristics and is resistant to abrasion and flame. Moreover, polyolefin-based heat shrink tubing is suited to the broadest range of general purpose needs, leading to more revenue generation.
- On the basis of voltage, the heat shrink tubing market is segmented into low, medium and high. In 2021, low voltage augments the market with the largest market share owing to its increase in the utilization of heat shrink tubing, mainly for sealing cables and insulation.
- On the basis of shrink ratio, the heat shrink tubing market is segmented into 2:1, 3:1, 4:1 and 6:1. In 2021, the 2:1 segment accounts for the highest market share due to faster shrink time, minimizing the installation time and potential damage to heat-sensitive components. It enables ease of installation which allow the tubing to be utilized in all environment.
- On the basis of end-user, the heat shrink tubing market is segmented into food beverage, automotive, utilities, chemical, pharmaceuticals, electronics, IT and telecommunication, aerospace, oil and gas, construction, marine and others. In 2021, the utilities segment dominates the overall market with maximum market share due to the need of protecting the wires and cable from harmful environmental components. Moreover, increase in investment in transmission distribution infrastructure by the government.
Heat Shrink Tubing Market Country Level Analysis
The countries covered in heat shrink tubing market report are China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines and Rest of Asia-Pacific.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Competitive Landscape and Heat Shrink Tubing Market Share Analysis
The major players covered in the report are ABB, Sumitomo Electric Industries, Ltd., TE Connectivity, HellermannTyton, Alpha Wire, 3M, SHAWCOR, Changchun IAC Technology Co., Ltd., Zeus Industrial Products, Inc., Molex, Techflex, Inc., Dasheng Group, Prysmian Group, Shenzhen Woer Heat - Shrinkable Material Co., Ltd., Qualtek Electronics Corp, Hilltop, Assembly Fasteners, Inc., Huizhou Guanghai Electronic Insulation Materials Co.,Ltd., GREMCO GmbH and among others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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