Ductile Iron Pipe Market to Reach USD 14,966.6 Million by the end of 2028
According to a recent report published by Fast.MR, titled, Global Ductile Iron Pipe Market 2018: Market Size, Trends, Opportunity, Forecast 2018-2024, the global ductile iron pipe market accounted for USD 10,212.6 Million in 2019 and is estimated to reach USD 14,966.6 Million by 2028. Moreover, it is anticipated to flourish at a CAGR of 4.4% during the forecast period i.e. 2020-2028.
The global ductile iron pipe market has been segmented based on diameter, application, and sales channel. Based on the diameter, this market has been segmented into DN 80 - DN 300, DN 350 - DN 600, DN 700 - DN 1000, DN 1200 - DN 2000, and DN 2000 & Above. The DN 700 - DN 1000 ductile iron pipe segment accounted for the highest market share in 2019 and is anticipated to continue its dominance during the forecast period. Due to the continuous infrastructure development of sewage systems in developing countries, the demand for ductile iron pipes has increased exponentially. The ductile iron pipes offer various metallurgical advantages. Apart from this, the ductile iron pipe systems also provide a service life of more than 100 years. Further, the growth of the sewage disposal infrastructure is anticipated to positively impact the growth of the ductile iron pipe market.
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In the sales channel segment, the indirect sales channel segment captured a significant share of the overall market in 2018. In addition to that, the market value of the global ductile iron pipe market for the indirect sales channel segment is expected to rise at a CAGR of 4.5% over the projected period.
Ductile Iron Pipe Industry Trends
Product Portfolio Expansion
Manufacturers are adding new products in their offering range and extending their existing brand offering by adding distinctive products in different categories. Manufacturers are continuously diversifying their product portfolio in order to cater to evolving consumer needs. For instance, in Feb 2018, U.S. Pipe, a subsidiary of Forterra Inc., announced the launch of its new product HDSS. The new restrained joint ductile iron pipe not only has an industry-leading pressure rating but also has more deflection than our previous restrained joints. This product launch helped the company to expand its product portfolio and strengthen its position.
Production Capacity Expansion
Manufactures of ductile iron pipes are expanding their production capacity in order to increase their sales. On August 27, 2019, Tata Metaliks Ltd, a subsidiary of Tata Steel, announced the expansion of its existing plant at Kharagpur. The company has announced the plan to double the production of ductile iron (DI) pipe to 4 lakh tonnes per annum from the current 2 lakh tonnes. The company is also installing a new 15-MW power plant, with an estimated investment on the project is USD 87.6 Million.
In terms of geography, the ductile iron pipe market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific accounted for the major share of the global ductile iron pipe market. Moreover, Asia Pacific ductile iron pipe market is expected to showcase lucrative growth in the upcoming years.
The report also covers a detailed competitive analysis of major market players of the global ductile iron pipe market, such as American Cast Iron Pipe Company, Benxi Beitai Ductile Cast Iron Pipes Co., Ltd., CNBM International Corporation, Duktus (Wetzlar) GmbH & Co. KG, Electrosteel, Electrotherm, International Ductile Iron Pipes Co. Ltd. (INDIPCO), JILIN SENFENG PIPE CO., LTD., Jindal Saw Ltd., KUBOTA Corporation, KURIMOTO, LTD., McWane Ductile, Saint-Gobain PAM, Saudi Arabian AMIANTIT Company, Shanxi New Guanghua Casting Pipe Co., Ltd., Svobodny Sokol Poland, Tata Metaliks, U.S. Pipe, XIAMEN LANDEE INDUSTRIES CO., LTD., Xinxing Ductile Iron Pipes Co. Ltd. and other key & niche players. The ductile iron pipe market is witnessing a wide range of industry activities such as product launch, partnership, acquisition, and expansion across the globe.
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