Market Research Future published a research report on “Ductile Iron Pipes Market Research Report – Global Forecast till 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.
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 Ductile Iron 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.
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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.
The segmental assessment of ductile iron pipes market has been segmented on the basis of diameter, region and application. On the basis of the diameter, the ductile iron pipes market has been segmented into DN 1200-2000, DN 350-600, DN 700-1000, DN 80-300, and DN2000 & above. The application segment of the ductile iron pipes market is segmented into water & wastewater and irrigation. Based on the regions, the ductile iron pipes market is segmented into APAC, North America, Europe, and the rest of the regions in the world.
Detailed Regional Analysis
The regional examination of the ductile iron pipes market includes APAC, North America, Europe, and the rest of the regions in the world. The North American regional ductile iron pipes market is estimated to carry on its lead through the assessment period, with the main share be gained by the U.S. out of all the nations. An enormous collection of well-known businesses are striving to lift their volume as well as product collection to strengthen their market position in the region. An ample portion of the worldwide market comes under the scope of the APAC region, which is sure to accomplish the highest development rate in the following years. The region regularly observes high demand for hygienic water for industrial, drinking, and irrigation reasons, which has increased the necessity for ductile iron pipes, on the whole in the economically emerging nations like India and China. Furthermore, several firms in the region are implementing compelling marketing steps such as strategic partnerships and mergers & acquisitions, product modernization using progressive materials, which also adds to the ductile iron pipes market fortification.
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