Heat shrinkable sleeves are designed as a thermal shrinkable anti-corrosion material for the anti-corrosion and insulation of buried and overhead steel pipeline weld joints, as well as for insulation joints. They can also be used for sealing and anti-corrosion at the pipeline flange connection areas. Composed of radiation cross-linked polyolefin base material and special sealing hot melt adhesive, the special sealing hot melt adhesive forms a good bond with the polyolefin base material, steel pipe surface, and solid epoxy coating. During heating and installation, the base material shrinks radially while the internal composite adhesive layer melts, tightly wrapping around the joint and forming a firm anti-corrosion barrier on the outside of the pipeline with the base material, exhibiting excellent wear resistance, corrosion resistance, impact resistance, and good resistance to UV and photoaging.