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Heat-Shrink Tubing Market Analysis | 2026-2031
Heat-Shrink Tubing Market Size, Share, Trends, Dynamics, Forecast, & Growth Analysis: 2026-2031
The heat-shrink tubing market was estimated at USD 3.0 billion in 2025 and is likely to grow at a CAGR of 5.8% during 2026-2031 to reach USD 4.2 billion in 2031.
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Heat-shrink tubing is a plastic tube that helps insulate wire and provides corrosion and environmental protection for stranded and solid wire conductors, and joint terminals in electrical work. It helps in repairing the insulation on wires and also protects them from abrasion and creates cable seals, offering environmental seal protection.
Various government drives to upgrade and expand the T&D systems and incessant developments in the global power generation capacity are the major factors expected to bolster the market during the forecast period.
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Segmentations |
List of Sub-Segments |
Segments with High Growth Opportunity |
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Voltage Type Analysis |
Low, Medium, and High |
The low voltage segment is expected to dominate the market during the forecast period. |
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Material Type Analysis |
Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene, Perfluoroalkoxy Alkane, Ethylene Tetrafluoroethylene, and Others |
The polyolefin segment is estimated to hold the major share of the market during the forecast period. |
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Regional Analysis |
North America, Europe, Asia-Pacific, and Rest of the World |
Asia-Pacific is estimated to lead the heat-shrink tubing market during the forecast period. |
“The low voltage segment is expected to dominate the market during the forecast period .”
The market is segmented as low, medium, and high voltage. The low voltage segment is expected to dominate the market during the forecast period.
This segment is essentially used in components for the distribution of electricity in the 1-1.1KV voltage range. The demand for heat-shrink tubing is fostered by the growing usage of insulation and sealing cables.
“The polyolefin segment is estimated to hold the major share of the market during the forecast period.”
The market is segmented as polyolefin, polytetrafluoroethylene, fluorinated ethylene propylene, perfluoroalkoxy alkane, ethylene tetrafluoroethylene, and others.
The polyolefin segment is estimated to hold the major share of the market during the forecast period as it generates more revenue than other materials. Polyolefins are impenetrable to flame and abrasion, are highly flexible, and have great chemical and electrical properties.
The market is segmented as utilities, automotive, food & beverages, chemicals, and others. The market is driven by the need for the protection of wires and cables against deleterious environmental elements and increasing investments being made in transmission and distribution.
“Asia-Pacific is estimated to lead the heat-shrink tubing market during the forecast period.”
The market is broken down geographically into areas, namely North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In terms of regions, Asia-Pacific is estimated to lead the heat-shrink tubing market during the forecast period, owing to plans for electrification and increasing grid investment in countries, such as Vietnam, Indonesia, and the Philippines.
The markets of India and China majorly contribute for the growth in electric grid investment and developing reliance on renewable sources of power generation, which are driving the growth of the market.
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The following are the key players in the market (arranged alphabetically):
Note: The above list does not necessarily include all the top players in the market.
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This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into market dynamics and will enable strategic decision-making for existing market players as well as those willing to enter the market. The following are the key features of the report:
This report studies the market, covering a period of 12 years of trends and forecasts. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.
The heat-shrink tubing market is segmented into the following categories:
By Voltage Type
By Material Type
By End-User Type
By Region
This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s heat-shrink tubing market realities and future market possibilities for the forecast period of 2026 to 2031. After a continuous interest in our heat-shrink tubing market report from the industry stakeholders, we have tried to further accentuate our research scope to the heat-shrink tubing market to provide the most crystal-clear picture of the market. The report segments and analyses the market in the most detailed manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth process.
This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.
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Company Profiling
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Stratview Research offers custom research services across sectors. In case of any custom research requirements related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to [email protected].
Heat-shrink tubing is a plastic tube that helps insulate wire and provides corrosion and environmental protection for stranded and solid wire conductors, and joint terminals in electrical work. It helps in repairing the insulation on wires and also protects them from abrasion, and creates cable seals, offering environmental seal protection.
The heat-shrink tubing market was estimated at USD 3.0 billion in 2025.
The forecasted value of the heat-shrink tubing market is expected to be USD 4.2 billion in 2031.
The heat-shrink tubing market is likely to grow at a CAGR of 5.8% during 2026-2031.
Asia-Pacific is expected to lead the market during the next five years.
The low-voltage segment is expected to remain the dominant voltage type in the market in the coming years.
TE Connectivity, 3M, Sumitomo Electric, ABB, HellermannTyton, Alpha Wire, Woer, Qualtek, Panduit, Zeus, Guanghai Materials, Thermosleeve, Insultab, Dasheng Heat Shrinkable Material, and Changchun Heat Shrinkable Materials are among the key players in the market.
Various government drives to upgrade and expand the T&D systems and incessant developments in the global power generation capacity are the major factors expected to bolster the market during the forecast period.
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