There are any number of tapes you could use as well. PVC electrical tape works, as does fusible silicon tape (my favorite). The silicon tape is sold under several brand names, including “Tommy Tape”. I got a two-pack at an Ace hardware store for around $4.50. The rolls aren’t very large, so the stuff is expensive per foot. I keep mine in a ziplock bag.
The silicon tape is cool stuff because it is stretchy and only slightly sticky. You take a couple of turn around the arbor under tension, cut it off, and press down. In a few minutes, the tape fuses with itself to form a rubbery layer which can be peeled off later without residue. Also works well to seal electrical connections as it is waterproof once fused (however, it does not like to fuse when wet).