Dublin, April 14, 2021 (GLOBE NEWSWIRE) -- The "Heat-Shrink Tubing - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Heat-Shrink Tubing estimated at US$1.8 Billion in the year 2020, is projected to reach a revised size of US$2.6 Billion by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027.
Low, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$1.1 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Medium segment is readjusted to a revised 5% CAGR for the next 7-year period.
The U.S. Market is Estimated at $491.7 Million, While China is Forecast to Grow at 8.3% CAGR
The Heat-Shrink Tubing market in the U.S. is estimated at US$491.7 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$552.2 Million by the year 2027 trailing a CAGR of 8.3% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.8% and 4.1% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.6% CAGR.
High Segment to Record 4.5% CAGR
In the global High segment, USA, Canada, Japan, China and Europe will drive the 4.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$326.7 Million in the year 2020 will reach a projected size of US$438 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$349.8 Million by the year 2027, while Latin America will expand at a 4.9% CAGR through the analysis period.
Select Competitors (Total 35 Featured):
Changchun Heat Shrinkable Materials
Dasheng Heat Shrinkable Material
GV Kinsman Pty Ltd
Sumitomo Electric Industries, Ltd
Thomas & Betts
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
REST OF EUROPE
REST OF ASIA-PACIFIC
REST OF LATIN AMERICA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
Total Companies Profiled: 35
For more information about this report visit https://www.researchandmarkets.com/r/4vdg24
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