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Global Oil Country Tubular Goods Market Flourishes Amid Growing Number of Horizontal Wells and New Exploration Avenues in Oil and Gas

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Published on : Nov 10, 2016

ALBANY, NY, Nov 10, 2016: The latest report titled “Global Oil Country Tubular Goods Market 2016-2020,” is a detailed analysis of all factors that are currently influencing the market as a whole. Additionally, the report provides a segmented analysis of the global oil country tubular goods market based on multiple factors for regional players or even players catering to specific applications in the market. This allows the report’s users to form a form a conclusive perspective on the global oil country tubular goods market and ascertain their role in it, while formulating successful strategies to be implemented over the coming years.

According to the report, the global oil country tubular goods market is expanding at a favorable CAGR of 6.21% within a forecast period from 2016 to 2020. This market is currently being driven by the growing number of avenues being initiated for oil and gas industries. The increasing scope of utility and its distribution chain for the oil and gas providers is strongly augmenting the demand for oil country tubular goods.

Another interesting trend assessed in the current scenario of the global oil country tubular goods market is the growing number of projects in the oil and gas sector for multilateral wells and horizontal drilling. Both types of projects are expected to help the global oil country tubular goods market thrive in terms of demand and advancements in technology. However, the market is also currently being hampered by the long periods of time in which steel prices fall in a state of lull. Steel being a primary raw material for oil country tubular goods subjects this global market to price volatility and strains the overall supply of raw materials.

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The global oil country tubular goods market comprises largely of players that provide the vast array of consumables in the oil and gas sector, such as casings, drill pipes, and tubing used in exploration and extraction processes. A majority of the products delivered are steel pipes that are used on a large scale in both upstream and downstream processes in the oil and gas industry. The products provided by players in the global oil country tubular goods market are either seamless of welded. A new type of pipes are currently being made available which does not belong to either of the two categories mentioned above.

The key players listed in the report for the global oil country tubular goods market are TMK, NSSMC, Tenaris, ArcelorMittal, and U.S. Steel. The report also mentions other prominent global entities in the market, including Jindal Steel & Power, JFE Steel, ACE O.C.T.G, ISMT, Benteler, Corpac Steel Products, Tata Steel, and Vallourec.

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