The tubing wrap's main function is to maintain hose temperature slightly above room temperature, which has for effect reducing the amount of condensation within the tube, thus reducing or completely eliminating the uncomfortable CPAP rainout effect. Besides its main purpose to reduce condensation and rainout, tube wrap also has the purpose of protecting the tube/hose from outside mechanical damages, its soft material makes the contact between the skin and the tubing more pleasant, and it hides the medical appearance of the CPAP tubing that some people find unpleasant.
You can buy CPAP tubing wrap for around $10 and up to around $50.
CPAP chinstrap is designed to keep the mouth closed while using a nasal or nasal pillow mask. The pressurized air delivered from the CPAP machine can cause the mouth to open (this can especially happen if prescribed a higher pressure setting), and this further leads to "air leaks" that significantly reduce the effects of CPAP therapy, and also cause waking up with a dry mouth and feeling tired. An extremely dry mouth and throat may be uncomfortable or painful, and chronic dryness may affect the health of your gums and teeth, per Verywell Health.