Pune, India, May 2020, MRFR Press Release/- Market Research Future has published a Half-Cooked Research Report on the Global Ductile Iron Pipes Market.
Market Research Future (MRFR) reveals that the ductile iron pipes market 2020, after claiming a valuation of close to USD 5 billion in 2017, can now clinch a CAGR of roughly 6.5% over the review period, which is between 2018 and 2023.
Growth Inducers and Main Deterrents
Government bodies across regions are doing everything in their capacity to bridge the gap between the supply and demand for water. Speedily increasing urbanization across emerging regions has been responsible for the hike in the demand for infrastructure services like transportation, roads, water supply, sanitation and electric and power supply. Speaking of urbanization, the expanding population migrating towards urban areas for better prospects has induced the demand for ductile iron pipes, especially in waste water treatment. This has also boosted the number of measures taken for water sanitation. Easy installation along with the advantage of recyclability, the ductile iron pipes are expected to benefit from the impressive demand across sectors in the following years.
But the recent outbreak of Covid-19 has resulted in the dwindling sales of DI pipes across the globe, all due to the water sewage construction and production activities coming to a standstill. The key markets for DI pipes like Asia Pacific and North America are observing a lockdown to curb the spread of the pandemic, resulting in the closing down of multiple government backed water treatment and water supply projects. The aftereffect of the current situation can mean a significant loss of share in the worldwide pipes market for ductile iron pipe.
Having said that, the market can remain resilient in the near future backed by the intense efforts being given by renowned companies, who are busy promoting the advantages of ductile iron pipes. Most of these vendors are working on building new facilities and are adopting mergers and acquisition type of strategies, which are projected to not only propel their position but also work in favor of the ductile iron pipes market in the preceding years.
The ductile iron pipes industry has been broadly covered in the report, dissecting it with respect to diameter and application.
Diameter-wise, the primary market segments include DN 350-600, DN 80-300, DN 1200-2000, DN 700-1000, and DN2000 & above. The ductile iron pipes with diameter range of DN 700 - DN 1000 market can note the highest demand in the market in the years to come, given the widespread deployment in water & wastewater applications. The use of DN 350-600 pipes is also increasing in water supply as well as irrigation applications. Higher shelf life and exceptional durability render them ideal for water infrastructure. Besides, these pipes are also being increasingly used in mining applications, leading to stronger market growth.
The applications of ductile iron pipes are irrigation as well as water and wastewater. The use of ductile iron pipes in water and wastewater application can observe maximum growth, backed by factors like the expanding worldwide population coupled with rapid economic growth that have led to high demand for clean water. This demand is being met with several government initiatives in the form of policies as well as regulations.
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The regional outlook of the ductile iron pipes market outlines North America, APAC or Asia Pacific, Europe, and the rest of the world (RoW).
In 2017, it was confirmed that North America had materialized as the most profitable market for ductile iron pipes. It is also projected that the region can continue to maintain its lead throughout the evaluation period, with the largest share belonging to the US out of all the countries. A massive pool of renowned companies is striving to boost their capacity as well as product portfolio to fortify their market position in the region. To illustrate, in February 2018, the U.S. Pipe developed HDSS, which is an extensive range of restrained-joint ductile iron pipes that offer better deflection compared to any other restrained-joint pipes launched before in the market.
A sizeable portion of the global market comes under APAC, which is bound to achieve the highest growth rate in the next several years. The region constantly witnesses high demand for hygienic water for drinking, industrial and irrigation purposes, which has boosted the need for ductile iron pipes, especially in the economically developing countries like India and China. Other than this, many firms in the region are adopting potent marketing hacks such as product innovation using advanced materials, strategic collaborations and mergers and acquisitions, which also adds to the market fortification.
Top Industry Players
Top industry players profiled in the market study are Saint-Gobain PAM, U.S. Pipe (US), McWane, Inc. (US), Jindal SAW Ltd (India), Xinxing Ductile Iron Pipes (China), Duktus (Wetzlar) GmbH & Co. KG (Germany), Tata Metaliks (India), Kubota Corporation (Japan), AMERICAN Cast Iron Pipe Company (US), Electrosteel Steels Ltd. (India), to list a few.