Ductile Iron Pipes Market Size to Surpass USD 13.6 billion by 2031, Growing at a CAGR of 6.4% Through the Period | Transparency Market Research Inc.
The increased need for pure and safe drinking water, fueled by the world's population growth, is a major factor driving up the price of ductile iron pipes
Wilmington, Delaware, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. - *The global ductile iron pipes market was estimated at a value of *US$ 8.3 billion in 2022*. It is anticipated to register a 6.4% CAGR from 2023 to 2031 and by 2031, the market is likely to attain US$ 13.6 billion by 2031.
The typical lifespan of ductile iron pipe is said to be more than 100 years. Pipe diameters are standardized by groups like the American Water Works Association (AWWA) in the United States, ISO 531/EN 545/598 in Europe, and AS/NZS 2280 (metric) in Australia. Different locations adhere to varying criteria based on their purposes and climate.
Demand for ductile iron pipes is expected to grow steadily over the forecast period, mostly because emerging nations will require more of these pipes. In nations like China and India, the ductile iron pipe industry is seeing growth in revenue due to urbanization and commercialization.
*Download Sample of the Report:* *https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=45840**Key Findings of Market Report*
· The use of materials including zinc, epoxy, zinc-aluminum, PE, PU, ceramic, and electro steel has enabled vendors to reach higher levels of protection thanks to advancements in ductile iron pipe coating technology.
· The increasing number of people migrating to urban areas globally has increased the market prospects for ductile iron pipes in applications connected to sewage water.
· The focus of governments across the globe on enhancing water sanitation capacities is a major factor propelling the market's expansion.
· It is expected that this tendency would continue for the duration of the prediction
*Market Trends for Ductile Iron Pipes*
· According to the market segmentation of ductile iron pipes, water distribution is the most common application for these pipes. Pump stations, sewage outfall lines, and wastewater treatment facilities are major applications for ductile iron pipes.
· Wastewater effluents are dumped through these pipelines. A significant problem affecting water resources is irrigation. The agricultural sector uses over 70% of the water. For irrigation purposes, ductile iron pipes are therefore widely utilized. In South Africa, India, and China, agriculture is the main focus. In these nations, ductile iron pipes are frequently employed for irrigation.
· Water supply channels made of ductile iron are widely used. A number of nations worldwide are presently coping with a water-related problem that is having a negative impact on households and communities.
· Underground water pipes are essential to the continuous supply of water needed for drinking and commercial use in many developed economies. The market for ductile iron pipes is projected to rise as a result of rising costs associated with sophisticated, contemporary plumbing for industrial applications and wastewater treatment systems
*Few of key developments by the players in this market are:*
*Company name * *Key Developments*
Kubota Corporation · Kubota Corporation declared the release of its new ductile iron pipe joint, Tyton SG-JOINT, in May 2023.
· A watertight seal for ductile iron pipes is intended to be provided by the high-performance Tyton SG-JOINT joint.
Jindal SAW Ltd. · Jindal SAW Ltd. declared in March 2023 that it has opened a new foundry for ductile iron pipes at its Angul factory in India.
· The company's ability to produce ductile iron pipe is anticipated to expand by 40% with the opening of the new foundry.
Saint-Gobain PAM · Saint-Gobain PAM confirmed the introduction of PAMCOAT DUO, a new coating for ductile iron pipes, in January 2023.
· A high-performance coating called PAMCOAT DUO is intended to shield ductile iron pipes from wear and corrosion.
*Global Ductile Iron Pipes Market Segmentation *
*Diameter*
DN 80 - DN 300, DN 350 - DN 600, DN 700 - DN 1000, DN 1200 - DN 2000, DN 2200 & Above
*Application*
Drinking Water Distribution, Wastewater, Irrigation, Mining, Others (including Pump Stations and Process and Treatment Works)
*Region*
North America, Latin America, Asia Pacific, Europe, Middle East & Africa
*Customization Request for the Research Report: **https://www.transparencymarketresearch.com/sample/sample.php?flag=CR&rep_id=45840**Global Market for Ductile Iron Pipes: Regional Outlook*
Various reasons are propelling the growth of the ductile iron pipes market throughout the region. These are:
· North America and Europe are important global industry regions. The presence of leading manufacturers is accelerating the regional growth. North America and Europe are also innovation hotspots.
· Asia Pacific holds a significant share of the global market for ductile iron pipes in terms of volume. The growing demand for irrigation and water supply in China and India is expected to drive increasing demand for ductile iron pipes throughout the forecast period.
· Asia Pacific's largest market for ductile iron pipes is China. Conversely, the global sector is still in its infancy in the Middle East and Africa as well as Latin America.
*Global Ductile Iron Pipes Market: Key Players *
Companies that operate on a global scale are heavily spending in research and development, mostly to create inventive and economical production techniques for ductile iron pipes. To grow their clientele, they are implementing tactics like product portfolio growth and mergers and acquisitions. Throughout the projected period, these tactics are probably going to drive the size of the ductile iron pipe market.
*The following companies are well-known participants in the global ductile iron pipes market:*
Saint-Gobain PAM, Jindal SAW Ltd, Tata Metaliks, U.S. Pipe, AMERICAN Cast Iron Pipe Company, Duktus (Wetzlar) GmbH & Co. KG, Electrosteel Steels Ltd., McWane, Inc., Kubota Corporation, Xiamen Landee Industries Co., Ltd.
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