Global OCTG Market: Trends & Opportunities Essay
Global OCTG Market: Trends & Opportunities
The report titled “Global OCTG Market: Trends and Opportunities (2012-2017)” analyzes the potential opportunities and significant trends in the global oil country tubular goods market. The report also provides detailed analysis of the global OCTG market, seamless and welded OCTG market, drill pipes market and OCTG coating materials and services market and future growth of these market. The report also profiles and analyzes the business strategies of the leading companies operating in the segment, including their expansion plans. Geographical Coverage
— The U.S.
— Middle East
— National Oil Company
— Tenaris S.A.
— Vallourec S.A.
— TMK Group
Oil Country Tubular Goods (OCTG) refers to the steel tubes and casings which are primarily used for drilling and producing oil and gas. OCTG consists of drill pipe, casing, and tubing subjected to loading conditions according to their specific application. Globally, the increasing appetite for energy has led to growth in oil and gas exploration and production activities and it has resulted in the growing demand for OCTG products. OCTG can be produced as seamless or welded tube and pipe. Seamless OCTG tubes/pipes are mostly used for oil and gas exploration and production as the seamless process can achieve higher grades and heavier wall thicknesses than welding can. Growth of the market is backed by growth in crude oil prices, rising global demand for oil and natural gas and increase in number of drill rigs. Factors that are holding back market growth are environmental and regulatory issues in addition to depletion of limited oil and gas reserves.
The major trends observed in the OCTG market globally include growth in global rig count, rise in horizontal drilling, seamless pipe capacity development and worldwide rig count development. The most important markets for oil and tubular goods markets globally are the U.S., China and Russia, accounting for majority of OCTG consumption every year. Major companies operating in OCTG-seamless, welded, drill pipes and coating materials production are National Oil Company, Tenaris S.A., Vallourec S.A. and TMK Group. These companies dominate the in global OCTG market and are expanding their reach in various geographies to get a share of the growing markets.
University/College: University of Arkansas System
Type of paper: Thesis/Dissertation Chapter
Date: 17 November 2016
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