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Classified in: Science and technology
Subject: SVY

Heat Shrink Tubing Market to Spread its Wings With US$2.7 Bn Valuation by 2027, Says Transparency Market Research


- The heat shrink tubing market is expected to witness robust growth during 2019-2027 period, thanks to growing construction activity in Asia Pacific, and increase in revenue margins for catheter manufacturers

- Recent product advancements like Junkosha's 2.5.1. PHST solution, also marks a significant technological advancement in the market

ALBANY, New York, Feb. 24, 2020 /PRNewswire/ -- The growing demand for heat shrink tubing in aerospace, electronics, and construction sector is a major factor driving growth. The heat shrink tubing market stood at a modest US$1.5 bn valuation in 2018. However, recent growth and adoption of new technologies promises major expansion for the market in new regions.

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For example, Junkosha's new product has resulted in lowering costs of subsidiaries in US, China, and UK for manufacturers. Moreover, the increased margins in revenues are increasingly making way for much needed capital investments in manufacturing around the world. Hence, according to TMR analysts, "the market will likely witness robust growth during 2019-2027 period to reach US$2.7 bn in 2027".

Key Findings in the Heat Shrink Tubing Market Study  

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Key Impediments for Heat Shrink Tubing Players

The growing stringent regulatory environment in North America is likely to emerge as a major constraint to growth for players in the heat shrink tubing market. The nuclear regulatory commission in United States has passed stringent regulations on proper usage of heat shrink tubes for nuclear reactor facilities. The regulations aim to protect major risks such as nuclear radiation. However, potential penalties can prevent high capital investments in the region from players in the heat shrink tubing market.

The rise of cold shrink tubing also poses major challenges for conventional players in the heat shrink tubing market. The cold shrink tubing promises many advantages over conventional techniques by removing the need for installation of direct flame framework. Additionally, the new tubing method also promises more reliability, and significant cost-savings. The rising appeal for cold shrink tubing techniques will provide opportunities for adoption, and new avenues for growth.

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Heat Shrink Tubing Market: Region-wise Analysis

The heat shrink tubing market in Asia Pacific promises major opportunities for improved infrastructure, thanks to its large IT industry, and growing demand for electrical equipment facilities. The region held nearly half the revenue share in 2018, thanks to its outdated infrastructure, which required massive insulation, and enhanced protection. However, during the forecast period, the demand will rise significantly from new-age opportunities like relief against strains, and environment sealing. The demand for heat shrink tubing will rise significantly in the region, thanks to growing investment in the IT and construction sectors.

Heat shrink tubing market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.

Heat Shrink Tubing Market: Competitive Analysis

Key companies in the heat shrink tubing market are Shawcor Ltd., Changyuan Group Ltd., Panduit Corp., Pexco LLC, Techflex, Inc., Zeus Industrial Products, Inc. The global landscape of the heat shrink tubing market is largely fragmented with several small players holding a key edge in product innovation. The highly fragmented nature of market also promises low-entry to barriers for new players. However, the large capital investments and tightening of regulations also make it more difficult for new players to make risk-free investments in the heat shrink tubing market.

Explore Transparency Market Research's award-winning coverage of the Global IT & Telecom Industry:

Managed File Transfer Market - Global managed file transfer market is anticipated to grow substantially from 2018 to 2026. The report states that the market is projected to witness a 7.9% CAGR in the estimated timer frame.

Hardware as a Service Market - High risk of data security and low interoperability is projected to inhibit the growth of the HaaS market across the world. The HaaS market is likely to reach a value of US$ 304.80Bn by 2026 from US$ 40.88Bn in 2017, expanding at a CAGR of 25.6% during the forecast period.

Heat Shrink Capsules Market - The growing demand for alcoholic beverages is also creating a counterfeiting threat to manufacturers, due to which the heat shrink capsules are anticipated to increase in the market.

Heat Shrink Bands Market - The global heat shrink bands market has witnessed tremendous growth on the backdrop of increasing demand from the food and beverage industry. Heat shrink bands are a powerful deterrent to theft and relabeling as they mark assets securely and unambiguously.

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About Transparency Market Research

Transparency Market Research is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. Our experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

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