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Global ductile iron pipes market size was valued at $11.4 billion in 2021, and is projected to reach $19.2 billion by 2031, growing at a CAGR of 5.3%
PORTLAND, UNITED STATES, UNITED STATES, May 23, 2023 /einpresswire.com / -- The global ductile iron pipes market size was valued at $11.4 billion in 2021, and is projected to reach $19.2 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031. This growth can be attributed to several factors such as their corrosion resistance, greater safety, low cost of maintenance, and long service life. Furthermore, increasing demand for underground water supply, water distribution across urban and rural areas, and wastewater treatment are expected to further drive the market growth.
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Introduction
Ductile iron pipes are hard and durable cast iron pipes having excellent tensile strength and durability. These pipes are gray in color and are less brittle than regular cast iron and that is why they are also called as ductile cast iron. They are used in the water and wastewater systems due to their superior performance and tensile strength requiring lower maintenance in comparison to other materials. The increased durability and flexibility, longer life cycle, and cost effectiveness of this kind of pipes are factors driving the market growth. In addition, the excellent corrosion resistance of the ductile iron pipes is also a factor that has helped its widespread adoption.
Market Dynamics
The ductile iron pipes market is anticipated to grow significantly during the forecast period owing to their superior corrosion resistance, greater safety, low cost of maintenance, and long service life. The increasing demand for underground water supply, water distribution across urban and rural areas, and wastewater treatment are driving the market growth. The government initiatives for water infrastructure development and advancements in the manufacturing processes are expected to create opportunities for the ductile iron pipes market. Also, the rising adoption of plastic pipes for water and waste applications is expected to hamper the growth of this market.
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Market Segmentation
The global ductile iron pipes market is segmented on the basis of type, technology, application, and geography. By type, the market is segmented into pressure pipes, low-pressure pipes, flowtite, and others. By technology, the market is segmented into centrifugally casting, and others. By application, the market is segmented into water and wastewater treatment, underground water supply and distribution, and others. Geographically, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Regional Analysis
Geographically, the global ductile iron pipes market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe is anticipated to witness the highest growth in the market due to increasing construction activities and government endeavors towards developments in the field of water infrastructure. The Asia Pacific region is expected to be the second highest growing region due to rapidly increasing urbanization and growth of the industrial base.
Competitive Landscape
The key players operating in the global ductile iron pipes market are Saint-Gobain PAM, BergSteel, Aquaflow Ltd, McGard, Anhui Sunsen Environmental Technology Co. Ltd, Tianjin Jinjin Huga Hengxin Casting Co. Ltd, Feral Cast Iron Pipe Company Integrated Ltd, U.S. Pipe, Speco Controls Pvt. Ltd., Baldwin Supply Company, and others.
Conclusion
The global ductile iron pipes market is expected to grow at a significant rate due to increasing demand for underground water supply and wastewater treatment. The long service life and cost effectiveness of these pipes in comparison to other materials are expected to drive the market growth. The rising adoption of plastic pipes in water and waste applications and other materials used in construction activities can restrict the growth of this market.
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David Correa
Allied Analytics LLP
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