Global Ductile Iron Pipes Market to Witness CAGR of 6.5% from 2018 to 2023
Expansion of the end-use sector remains the prime growth driver for the global ductile iron pipes market. Market Research Future (MRFR) projects that the global ductile iron pipes market is set to demonstrate 6.5% CAGR from 2018 to 2023. Ductile iron pipes are in demand for owing to their favourable attributed. These pipes find application in waste water treatment systems, irrigation, water supply systems among others. Unlike PVC pipes, ductile iron pipes have high tolerance to extreme temperatures.
Preference for ductile iron pipes among end-use industries has is high owing to their impressive durability. Such factors are supporting the growth of the global ductile iron pipes. Demand for ductile iron pipes is also growing due to their cost-efficiency and high-performance attributes. The manufacturing process of these pipes is rigorous, which ensures a robust quality standard.
The installation process of ductile pipes is pocket-friendly. Moreover, the low overall maintenance cost is also driving the demand for ductile iron pipes. These pipes have emerged as the go-to solution for critical applications. Nevertheless, susceptibility to corrosion continue prompt end-use industries to look for alternatives.
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Global Ductile Iron Pipes Market: Segmental Analysis
The segmental analysis of the market has been conducted on the basis of application and diameter.
Based on application, the market has been segmented into water and wastewater and irrigation. The water and wastewater segment is expected to witness a healthy growth over the next couple of years. On the account of the growing emphasis of water recycling and reuse, wastewater treatment plants are being developed across the globe. Ductile iron pipes find tremendous application in water treatment plants. The segment is expected to benefit from introduction favourable environmental policies and regulation. Governments worldwide are increasing efforts to improve water-related in infrastructure and services.
Based on diameter, key segments include DN2000 & above, DN 1200-2000, DN 700-1000, DN 350-600 and DN 80-300. The DN 700 – 1000 segment is likely to remain highly profitable in the foreseeable future. Ductile iron pipes with diameters ranging from DN 700 – 1000 are widely used in water and wastewater applications. The DN 350 – 600 segment is also expected to witness a sound growth during the forecast period. Demand for ductile iron pipes with diameters ranging from DN 350 – 600 remains concentrated in water supply and irrigation infrastructure. Characteristics such as high durability and longevity, makes these pipes sought-after. The pipes are also increasingly used in mining applications.
Global Ductile Iron Pipes Market: Regional Analysis
On the basis of region, the market has been segmented into Europe, North America, Asia Pacific (APAC) and rest of the world (RoW). North America currently holds a predominant position in the global ductile iron pipes. In addition, the region is likely to maintain its leading position throughout the assessment period. The North America market is led by the US, which remains the largest contributor in the region in terms of revenue.
It is projected that the APAC market will witness a noteworthy growth over the next couple of years. Effort to improve drinking water quality coupled with increased investment in development of water-related infrastructure is supporting the market growth in the region. Demand for clean water is likely to growth further in the region during the forecast period.
Global Ductile Iron Pipes Market: Competition Analysis
AMERICAN Cast Iron Pipe Company (US), Jindal SAW Ltd (India), McWane, Inc. (US), Duktus (Wetzlar), Electrosteel Steels Ltd. (India), U.S. Pipe (US), GmbH & Co. KG (Germany), Saint-Gobain PAM, Xinxing Ductile Iron Pipes (China), Kubota Corporation (Japan) and Tata Metaliks (India) are some of the leading companies discussed in MRFR’s report.
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