Sheath Materials Market - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026

  • To Be Published : Jul 2019 |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Sheath is basically covering material used for knives, cables and other electronic components. Sheath materials are also used for thermocouples which include 316 Stainless Steel, 316L Stainless Steel, 304 Stainless Steel, 304 Stainless Steel, 310 Stainless Steel, 321 Stainless Steel, 446 Stainless Steel, Inconel 600, Inconel 601, Inconel 800. Selection of these materials depends upon the requirement of different temperature conditions and the operating environment. Leather sheath is used for hunting knives.

Thermosetting materials include XLPE (Cross-Linked Polyethylene) which is an ideal material offering good chemical, moisture and weather resistant and is mainly used an external sheath material for “rugged” cables. PCP (Polychloroprene) offers excellent low temperature resistance, flame resistance, heat resistance, resistance to sunlight, oil and weathering, and abrasion resistance. Owing to its ruggedness, it is used extensively in the mining industry. Other commonly used sheath materials are Chloro-sulphanated Polyethylene and Ethylene Propylene Rubber.

Sheath Materials Market Taxonomy

On the basis of material, the global market is classified into:

  • Wood
  • Kydex
  • Nylon
  • Leather
  • Lead,
  • Plastic
  • Aluminum,
  • Titanium,
  • Stainless steel

On the basis of product type, the global market is classified into:

  • Thermosetting
  • Thermoplastic

On the basis of applications, the global market is classified into:

  • Electronics and Electrical
  • Healthcare

Thermoplastic materials include PVC (Polyvinyl Chloride) used extensively due to its low cost, high physical strength, adequate oil resistance, good moisture resistance, good flame resistance and excellent resistance to weathering and soil environments. Most commonly used sheath material for LV cables. PE is available in low density in the range 0.91 – 0.925 g/cm3, medium density in the range 0.926 – 0.94 g/cm3, high density in the range 0.941 – 0.965 g/cm3. PE sheaths offer excellent moisture resistance, good physical strength, and good ageing properties. Other commonly used thermoplastic are Chlorinated Polyethylene, Nylon and Thermoplastic elastomers.

Sheath Materials Market Outlook – Increasing Demand for Electronics Application to be the Major Market Driver  

Asia Pacific is expected to be the most potential market for sheath materials manufacturers. Asia Pacific is projected to witness relatively high growth in terms of value over the forecast period. Rapidly growing electronics industry coupled with increased demand of consumer and commercial goods has augmented the growth of sheath materials market in developing countries such as India and China. According to IBEF, in the year 2020, the Indian electronics industry is expected to generate a revenue of USD 400 billion. This has attracted investors such as HMC MM, Qualcomm, Samsung, LG, GE, Jabil, Flextronics, Bosch, Magneti Marelli, Continental, Amphenol, Motherson Sumi system, Nidec, Delphi and others. This trend is expected to be followed over the forecast period. India Brand Equity Foundation (IBEF) is a Trust established by the Ministry of Commerce and Industry, Department of Commerce in collaboration with the Government of India with the purpose of promoting and creating international awareness of goods manufactured in India.

Numerous uses of sheath materials in electronic industry is fueling the growth of sheath material market, especially in Asia Pacific and Middle East regions. Highly fragmented market is expected to be one of the restraining factors for the growth of sheath material market over the forecast period. Product innovation and expansion in various geographies is a key strategy adopted by the major players in the sheath material market. In 2015 Teleflex Medical OEM expanded the production capacity for Fibers, Bioresorbable Sutures, and Resins.  The expansion involves increased production capacity, new customer support center, and added areas for research and development activities. Some of the major companies operating in the global Sheath Materials market include Gravita India Ltd. Steel will, Teltech, Ducab, Durex industries, Caledonian, SAB Bröckskes GmbH & Co. KG and Marttiini.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.

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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.
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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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