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In Canada we generally call it the sleeve, or the wrap.
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I'd understand either of those, but I'd go with "tubing"

https://www.3m.com/3M/en_US/p/c/electrical/wire-cable/tubing...

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For performance vehicles I used adhesive-lined heat shrink tubing for basically everything.

[1] Braided tubing and [2] conduit, respectively.

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