April 27, 2020
According to the research report titled ‘Global Ductile Cast Iron Pipes Market Size study, by Type (Standard Type and Special Type), by Application (Sewage and Water Supply) and Regional Forecasts 2019-2026’, available with Market Study Report LLC, global ductile cast iron pipes market was worth USD 9330.35 million in 2018 and is set to record a y-o-y growth rate of 2.80% during 2019-2026.
Ductile cast iron pipes offer attributes including machinability, corrosion resistance, durability, ductility and robust strength. They also possess substantial casting refinements, better quality control and other metallurgical processes, making them ideal for modern wastewater systems. These pipes provide superior tensile strength as compared to mild steel pipes.
Increasing development of water infrastructure and swift urbanization are major factors driving the growth of ductile cast iron pipes market. According to Infrastructure Report Card-2017, federal government offered around USD 1.4 billion every year for half a decade to District of Columbia and 50 other states in order to encourage wastewater treatment. Similarly, Balkan Green Energy News reported in January 2020 that the EU commission approved an investment of up to 128 million euros in order to renovate the wastewater treatment infrastructure in Croatian area of Split-Solin. Growing demand to modernize wastewater testing and treatment infrastructure is thus, fueling the market size. However, high maintenance cost associated with the product may act as a restraining factor to the growth of the ductile cast iron pipes business landscape.
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Considering the geographical landscape, ductile cast iron pipes industry in Asia-Pacific is expected to register significant growth during the forecast period. Factors such as surging investments towards development of water infrastructure and government focus towards improving the quality of drinking water are stimulating the industry outlook.
Jinan Ductile Cast, Shanxi Ductile Cast, Xinxing, Kubota, Saint Gobain and Sandvik are the eminent companies in global ductile cast iron pipes industry.