Oct 14, 2019
Global Ductile Iron Pipes Market to Gain Momentum Owing to Technological Advancements, Says Fact.MR
by Team Fact.MR
Ductile Iron Pipes offer various benefits as compared to other conventional piping solutions that include PVC, HDPE, PVCO etc. Some of the major advantages include higher life span, low maintenance, easy installation, high durability, recyclability and many more. In addition, the average thickness of DI pipes over the years has reduced owing to increased metal strength. The manufacturers of piping solutions across the globe have realized the aforementioned advantages and they are continuously increasing their production capacities of ductile iron pipes to gain a competitive edge in the global ductile iron pipes market. Furthermore, the key players are coming up with various technological advancements that is increasing the penetration of ductile iron pipes across various applications including water & waste water management, agriculture, mining etc. Introduction of earthquake resistant ductile iron pipes along with reliable protection encasements are some of the major advancements witnessed in the global ductile iron pipes market. Hence, on the backdrop of all the above mentioned factors, the Global Ductile Iron Pipes market is expected to witness a growth rate of nearly 6% in terms of value over the forecast period (2019-2029). Also, government investments in water & waste water management, increasing urbanization in developing countries coupled with increasing production capacities are the primary factors propelling the ductile iron pipes market growth till 2029. However, higher overall costs & susceptibility to corrosion are the factors impeding the ductile iron pipes market growth.
Middle East Along with Asia to Create Lucrative Opportunities to the Manufacturers in the Ductile Iron Pipes Market
Middle East & Africa along with Asia have been identified as the most lucrative regions under Ductile Iron Pipes market. The countries in Middle East & Africa and Asia Pacific regions witness water scarcity and poor water supply facilities. Middle East & Africa are one of the most land and water constrained regions in the world. It has the lowest water tariff in the world and subsidizes water consumption. Furthermore, countries in Asia Pacific, such as China and India, also face severe issues related to water supply for agricultural land and drinking water. Hence, Middle East & Africa offers significant scope for manufacturers of ductile iron pipes to export their products to the region and establish manufacturing plants. In addition, there have been anti-dumping duties imposed by India on Chinese manufacturers and by Europe on Indian & Chinese manufacturers. Such regulations promote the local manufacturers of the ductile iron pipes market. For instance, Cosider (Algeria), KIOCL Ltd. (India) etc. are entering the Ductile Iron Pipes market with substantial production capacities. Therefore, ductile iron pipe manufacturers and suppliers can benefit from exploring new horizons and expanding into Middle East & Asian regions.
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Potable Water Distribution to Remain the Dominant Application in the Ductile Iron Pipes market
Ductile Iron Pipes are being installed on a large scale for the purpose of potable water distribution. As far as the global population estimates are concerned, the need arises for clean water supply. Ductile Iron Pipes have become the foremost choice for distribution of potable water across the globe. Governments are realizing the benefits of ductile iron pipe and installing these piping solutions on a wide note. In addition, Governments of United States and European countries are replacing their aging water infrastructure with ductile iron pipes. Fact.MR estimates the potable water distribution application to rise with a CAGR of close to 6% over 2019-2029. Furthermore, the water use at a global level is increasing by ~1% per annum since 1980, as per a report of United Nations Water, 2019. Furthermore, this trend is expected to continue till 2050, depicting an increase of 20 to 30% as compared to the current water use level. The increase in water demand is attributed to population growth, changing consumption patterns coupled with socio-economic development. Hence, all such factors tend to open up wider adoption avenues for ductile iron pipes in order to serve the purpose of potable water distribution.