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Global OCTG Market: Exploration of Unconventional Reserves Augmenting Demand

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Published on : Mar 16, 2017

ALBANY, NY, March 16, 2017: The report, titled “Global OCTG (Oil Country Tubular Goods) Market: Industry Analysis & Outlook (2017-2021),” aims to serve as a credible document for the players in this industry, helping them in making more informed business decisions. The report also includes an examination of the value chain and supply chain, Porter’s Five Forces analysis, winning imperative as well as trends and opportunities. 

The report observes that oil country tubular goods incorporates various steel tubular products that are used for the production and exploration of oil and gas, and especially drilling. Various sizes and length of seamless and welded pipes are available, which are used for the production as they can bear much higher stress. Generally, OCTG has products of three categories: casing, drill pipe, and tubing. 

Owing to growing population, the demand for oil and gas is touching new peaks, and this factor is the primary driver for the global oil country tubular goods market. The increased demand for fossil fuels and accelerating growth of several emerging economies with rapid industrialization are other factors augmenting the demand in the global market for OCTG. Conversely, factors such as depleting oil and gas reserves, volatile crude oil prices, international political and economic instability, and environmental concerns are expected to challenge the market from attaining its full potential during the forecast period. Each of these factors have been thoroughly examined in the report and eventual impact has been estimated.

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The report analyzes and forecasts the OCT demand in volume, by region, and compares the demand from shale gas and others. The report studies the potential available for the market for oil country tubular goods in three prominent countries: the U.S., Russia, and China. For the U.S. OCTG market, the report studies and forecasts the rig count, consumption by volume and segment and compared the distributors of welded OCTG against HRC prices as well as seamless OCTG against scrap prices. For the Russian and Chinese market, the report includes examination of annual development drilling program, and tube and pipe market by volume.

The report profiles some of the leading companies operating in the U.S., China, and Russia market for OCTG, including Nippon Steel and Sumitomo Metal, Tenaris S.A., TMK, and Vallourec. Business strategies and financial might of these companies have been analyzes and estimates in the report, respectively. Currently, Tenaris S.A. owns maximum share in the market with a stable financial structure and strategic mergers and acquisitions. They also offer a wide range of services and products in order to maintain its position as the market leader. The report also understands that the competition is fairly stiff among these key players, but increasing number of exploration activities, especially for unconventional reserves, is opening new growth opportunities.

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