Dublin, Nov. 08, 2019 (GLOBE NEWSWIRE) -- 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 global heat-shrink tubing market is projected to reach USD 2.3 billion by 2024 from an estimated USD 1.8 billion in 2019, at a CAGR of 5.3% during the forecast period. This growth can be attributed to factors such as government initiatives to expand and upgrade T&D systems and increasing power generation capacities.
The global heat-shrink tubing market is dominated by a few major players that have a wide regional presence. The leading players in the heat-shrink tubing market are TE Connectivity (Switzerland), 3M (US), Sumitomo Electric (Japan), ABB (Switzerland), HellermannTyton (West Sussex), Alpha Wire (US), Woer (China), Qualtek (US), Panduit (US), Zeus (US), Guanghai Materials (China), Thermosleeve (US), Insultab (US), Dasheng Heat Shrinkable Material (China), and Changchun Heat Shrinkable Materials (China).
The polyolefin segment is expected to be the largest heat-shrink tubing market, by material, during the forecast period
The polyolefin segment is expected to be the largest heat-shrink tubing market, by material, during the forecast period. Polyolefin is the most used material for heat-shrinkable tubes. It forms a dense network of high molecular weight, which improves impact strength, Environmental Stress Crack Resistance (ESCR), and creep and abrasion resistance without influencing the tensile strength and density. It finds a wide application in packaging and electrical insulation industries for mechanical and environmental protection. The major end-users of polyolefin heat-shrink tubing are aerospace, military, and telecommunications.
The low voltage segment is expected to be the fastest growing heat-shrink tubing market, by voltage, during the forecast period
The low voltage segment is estimated to be the fastest growing heat-shrink tubing market, by voltage, during the forecast period. Massive T&D network expansions and increasing urbanization and industrialization projects in China and India are the main reasons for the growth of the low voltage heat-shrink tubing market.
Asia Pacific: The largest heat-shrink tubing market
Asia Pacific is projected to be the largest heat-shrink tubing market by 2024. China, India, and Japan, among the major countries, are the leading users of heat-shrink tubing. Over the past few years, the Asia Pacific region has witnessed rapid economic development. The growing demand for electricity is expected to lead to the need to replace the ageing power transmission infrastructure and an increase in the demand for equipment such as low, medium, and high-power cables, thus driving the demand for heat-shrink tubing. The governments of Asia-Pacific countries are planning to develop more electrical grid and power generation capacities, which would further boost the demand for heat-shrink tubing in the region.
Key Topics Covered
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Heat-Shrink Tubing Market
4.2 Heat-Shrink Tubing Market, By Voltage
4.3 Heat-Shrink Tubing Market, By Material
4.4 Heat-Shrink Tubing Market, By End-User
4.5 Heat-Shrink Tubing Market, By Region
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Government Initiatives to Expand and Upgrade T&D Systems
5.2.1.2 Continuous Increase in the Global Power Generation Capacity
5.2.2 Restraints
5.2.2.1 Government Regulations on the Emission of Toxic Gases
5.2.3 Opportunities
5.2.3.1 Growing Usage of Heat-Shrink Tubes in the Automotive Industry
5.2.4 Challenges
5.2.4.1 Availability of Low-Quality and Inexpensive Products in the Gray Market
5.2.4.2 Improper Installation of Heat-Shrink Tubes
6 Heat-Shrink Tubing Market, By Voltage
6.1 Introduction
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 Heat-Shrink Tubing Market
7 Heat-Shrink Tubing Market, By Material
7.1 Introduction
7.2 Polyolefin
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
7.7 Others
8 Heat-Shrink Tubing Market, By End-User
8.1 Introduction
8.2 Utilities
8.2.1 Protection for Wires & Cables Against Harmful Environmental Elements and Investments in the T&D Infrastructure are Expected to Drive the Heat-Shrink Tubing Market
8.3 Automotive
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 Chemical
8.5.1 Increasing Demand for Thin, Highly Abrasive, and Chemically Resilient Tubings in the Chemical Industry is Likely to Boost the Market
8.6 Others
9 Heat-Shrink Tubing Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 By Voltage
9.2.2 By Material
9.2.3 By End-User
9.2.4 By Country
9.2.4.1 China
9.2.4.1.1 Investments in the Modernization of the Aging Electrical Grid and Government Initiatives to Reduce T&D Losses are Expected to Drive the Heat-Shrink Tubing Market
9.2.4.2 India
9.2.4.2.1 Rising Investments in the T&D Infrastructure Development are Expected to Dominate the Indian Market
9.2.4.3 Japan
9.2.4.3.1 Rising Investments in Electric Vehicles are Expected to Drive the Market
9.2.4.4 South Korea
9.2.4.4.1 Increasing Focus on Renewable Energy Generation and Carbon Footprint Reduction is A Major Driver for the Market
9.2.4.5 Australia
9.2.4.5.1 Increasing Investments in Renewables, Distribution Infrastructure, and Connectivity are Expected to Drive the Market
9.2.4.6 Rest of Asia Pacific
9.3 North America
9.3.1 By Voltage
9.3.2 By Material
9.3.3 By End-User
9.3.4 By Country
9.3.4.1 US
9.3.4.1.1 Investments in Grid Modernization of Aging Infrastructure are Expected to Increase the Demand for the US Market
9.3.4.2 Canada
9.3.4.2.1 Energy-Efficiency and Optimization Services are Expected to Dominate the Market
9.3.4.3 Mexico
9.3.4.3.1 Increasing Investments to Support Energy Infrastructure Growth and Rising Demand for Renewables are Likely to Drive the Heat-Shrink Tubing Market
9.4 Europe
9.4.1 By Voltage
9.4.2 By Material
9.4.3 By End-User
9.4.4 By Country
9.4.4.1 Germany
9.4.4.1.1 Need to Integrate Renewable Energy Sources and Government Initiatives to Support Feed-In Tariff Incentives are Driving the Market
9.4.4.2 Russia
9.4.4.2.1 Strong Investments in the T&D Infrastructure are Expected to Drive the Market
9.4.4.3 UK
9.4.4.3.1 Increasing Investments in the Power Infrastructure Sector and Renewable Energy Projects are Likely to Drive the Market
9.4.4.4 France
9.4.4.4.1 Utilities Segment is Expected to Dominate the French Market
9.4.4.5 Italy
9.4.4.5.1 Development of the Sustainable Energy Sector and Need to Reduce Energy Costs are Driving the Market
9.4.4.6 Rest of Europe
9.5 South America
9.5.1 By Voltage
9.5.2 By Material
9.5.3 By End-User
9.5.4 By Country
9.5.4.1 Brazil
9.5.4.1.1 Government Initiatives to Invest in Utility Projects are Driving the Market
9.5.4.2 Argentina
9.5.4.2.1 Utilities Segment is Expected to Dominate the Market
9.5.4.3 Venezuela
9.5.4.3.1 Rising Investments in Power Generation are Expected to Boost the Demand for the Market
9.5.4.4 Rest of South America
9.6 Middle East & Africa
9.6.1 By Voltage
9.6.2 By Material
9.6.3 By End-User
9.6.4 By Country
9.6.4.1 South Africa
9.6.4.1.1 Rapidly Growing Manufacturing and Transportation Industries are Expected to Drive the Market
9.6.4.2 Saudi Arabia
9.6.4.2.1 Increasing Investments in the T&D Infrastructure are Expected to Drive the Market in the Country
9.6.4.3 UAE
9.6.4.3.1 Growing Investments in Renewables are Likely to Increase the Demand for the UAE Market
9.6.4.4 Rest of Middle East & Africa
10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis
10.3 Competitive Scenario
10.3.1 New Product Launches
10.3.2 Contracts & Agreements
10.3.3 Investments & Expansions
10.4 Competitive Leadership Mapping
10.4.1 Visionary Leaders
10.4.2 Innovators
10.4.3 Dynamic Differentiators
10.4.4 Emerging Companies
11 Company Profile
11.1 ABB
11.2 3M
11.3 TE Connectivity
11.4 Sumitomo Electric
11.5 Hellermanntyton
11.6 Alpha Wire
11.7 Qualtek
11.8 Insultab
11.9 Woer
11.10 Guanghai Materials
11.11 Changchun Heat Shrinkable Materials
11.12 Dasheng Heat Shrinkable Material
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