Wire loom cladding perishing

Hi Guys, recently the wire loom rubber cladding (from the handlebar switches, etc) on my 1150 has been perishing and it disintegrates when you touch it. I've been trying to save it a bit by wrapping the exposed wires with stretch rubber tape, but it looks kak and I don't think it's effective. Any other suggestions on how to replace the cladding? Would the winding plastic wrapping they normally sell to keep TV wires neat work?

Cheers
Christo