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NEW YORK , June 20, 2023 /PRNewswire/ -- The heat shrink tubing market size is estimated to grow by USD 626.94 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 5.84% during the forecast period. The market is driven by the increasing use of bio-based heat shrink tubing. Numerous research-based institutes and manufacturing companies continuously pursue bio-based, renewable, and sustainable materials implementation for industrial applications. For example, effectively capturing carbon dioxide from sugar cane plantations and converting it into green shrink tubing reduces greenhouse gas emissions. Manufacturers, consumers, and government officials are joining forces to accelerate the development and adoption of bio-based heat shrink tubing. The APAC biobased market is expected to grow during the forecast period due to the growing popularity of biobased products. Furthermore, strict regulations on the use of synthetic polymers and growing environmental concerns are key factors that will positively impact market growth during the forecast period. For more insights on the historic data (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report Single Mode Optical Fiber
Major challenges hindering the market growth
Heat shrink tubing market - Segmentation Assessment Segment Overview Technavio has segmented the market based on type (OEMs and aftermarket), and end-user (utilities, automotive, food and beverage, chemical, and others)
Geography Overview By geography, the global heat shrink tubing market is segmented into APAC, North America , Europe , South America , and Middle East and Africa . The report provides actionable insights and estimates the contribution of all regions to the growth of the global ethylene glycol market.
Insights on the market contribution of various segments including country and region wise, historic data (2017 to 2021) and forecast market size (2023 to 2027) - Download a Sample Report
Heat shrink tubing market – Vendor Analysis
Vendor Landscape - The global heat shrink tubing market is characterized by the presence of various vendors such as 3M Co., ABB Ltd., Alpha Wire Inc., ARTILABO International sprl, GREMCO GmbH, Gremtek SAS, HellermannTyton GmbH, Molex LLC, Nexans SA, Panduit Corp., Pexco LLC, Prysmian Spa, Shawcor Ltd., Shrink Sleeve Ltd., Taiwan Yun Lin Electronic Co. Ltd., TE Connectivity Ltd., Techflex Inc., Zeus Co. Inc., Jiangsu Dasheng Heat Shrinkable Material Co. Ltd., and Sumitomo Electric Industries Ltd. among others.
Heat shrink tubing market – Leading trends influencing the market
Insights on Market Drivers, trends, & Challenges, historic period (2017 to 2021) and forecast period (2023 to 2027)- Request a sample report!
What are the key data covered in this Heat shrink tubing market report?
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Heat Shrink Tubing Market Scope
Accelerate at a CAGR of 5.84%
APAC, North America, Europe, South America, and Middle East and Africa
US, China, Taiwan, Japan, and Germany
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
3M Co., ABB Ltd., Alpha Wire Inc., ARTILABO International sprl, GREMCO GmbH, Gremtek SAS, HellermannTyton GmbH, Molex LLC, Nexans SA, Panduit Corp., Pexco LLC, Prysmian Spa, Shawcor Ltd., Shrink Sleeve Ltd., Taiwan Yun Lin Electronic Co. Ltd., TE Connectivity Ltd., Techflex Inc., Zeus Co. Inc., Jiangsu Dasheng Heat Shrinkable Material Co. Ltd., and Sumitomo Electric Industries Ltd.
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period.
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About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: [email protected] Website: www.technavio.com
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