According to the research report titled ‘Global Heat Shrink Tubing and Sleeves Market Size study, By Length (Spool, Standard (1.2Meter), Non-Standard Cut Pieces, Custom), By Material Type (Polyolefin (POE), (LDPE, HDPE), Ethylene Vinyl Acetate (EVA), Perfluoro alkoxy Alkane (PFA), Ethylene Tetrafluoroethylene (ETFE), Polyethylene Terephthalate (PET), Polyether Ether Ketone (PEEK), Silicone Polyolefin, Polytetrafluoroethylene, Fluorinated Ethylene Propylene), By Sales Channel (Original Equipment Manufacturer (OEM), Aftermarket), By Product Type (Tubes, Sleeves, Other Accessories), By Application (Automotive, Aerospace, Railways, Telecommunication, Energy, Power System, Oil and Gas, Electrical Engineering Goods and Components, Home Appliances, Defense/Armaments, Others (Medical, Industrial Equipment) and Regional Forecasts 2021-2027’, available with MarketStudyReport, global heat shrink tubing and sleeves market is projected to record y-o-y growth rate of more than 5.9% during the forecast timeframe 2021-2027.
 

Extensive demand from several industries such as telecommunications, automotive, transportation, oil & gas, electronic and electric is primarily driving worldwide heat shrink tubing and sleeves market growth.
 

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Moreover, expanding OEM channels and product customization offered by prominent market players, and their increased focus on investing in R&D activities are enhancing the industry outlook. In fact, manufacturers have successfully developed effective heat shrink tubing & sleeves that can function at temperatures ranging from -65°C to +260°C, ensuring protection against water and moisture.
 

For the uninitiated, heat-shrink tubing is a plastic tube that is environmentally safe as it insulates solid wire conductors, connections, connectors, & terminals in electrical operations. It can also be used to replace wire insulation, shield wires, or small components from damage by creating seals that protect against the elements.
 

 Speaking of the market restraints, growing environmental concerns due to the non-biodegradable nature of the product are likely to hamper profitability over the analysis timespan.
 

From a regional perspective, Asia Pacific holds a considerable portion of global heat shrink tubing and sleeves industry share and will continue to serve as a lucrative growth avenue, owing to government measures for developing and modernizing T&D systems, as well as rising power generation capacity in the region.
 

Meanwhile, North America market is expected to grow rapidly between 2021 and 2027, attributable to escalating product demand from several industries such as aerospace, automotive, electric, & electronic.
 

Considering the competitive landscape, Artilabo International SPRL/BVBA, Techflex Inc., Würth Elektronik eiSos GmbH & Co. KG, 3M Co., ABB Ltd. (formerly ASEA Brown Boveri), TE Connectivity Ltd., Shrink Sleeves Ltd., Panduit, Molex Electronic Solutions, and HellermannTyton are the major companies influencing the worldwide heat shrink tubing and sleeves market dynamics.