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Global OCTG (Oil Country Tubular Goods) Market Report: 2011 Edition
Koncept Analytics, Nov 2011, Pages: 37
Key Features:
The report provides an analysis of the global OCTG market. It discusses major market trends, growth drivers, and challenges faced by OCTG market. The report also presents the competitive structure of the industry and profiles major players in the OCTG market.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, the future growth of the industry has been predicted. Various significant variables that have an impact on this industry and created regression models with SPSS Base have been used to determine the future direction of the industry.
Market Highlights:
After coal, the discovery of oil and gas was a landmark in the history of mankind. Exploration and production of oil and gas increased over the decades. OCTG products are integral component in the exploration and production of oil and gas: their market too has correspondingly grown.
The oil and gas exploration and production activity in the US displays a trend of continuous growth driving the demand for OCTG products in the region. The growth in rig count and expansion of shale drilling regions will bring a paradigm shift in the US energy supply in the years to come. The Russian OCTG market is also experiencing steady growth in the light of recent changes in the oil taxation regime and enhanced drilling activity. Due to the trade actions in the US and Europe, Chinese OCTG exporters have shifted their focus to regions like Indonesia, South America, and the Middle East, among others. This is expected to bring a noticeable growth in the Chinese OCTG market.
The global rig counts have reported a rise both in pre and post economic crisis period, suggesting a positive trend driving the demand of OCTG products. Further, with the ever increasing demand for oil and gas, the growth in the OCTG market is expected to continue to gain strength in the times to come. Also, increasing oil prices and rising capital expenditure by E&P companies will boost the drilling activity resulting in more consumption of OCTG products. However, the industry also faces a challenge in the form of rising steel prices and finite reserves of oil and gas.
With more exploration and production activities being carried out in complex environments and consequent demand for high value, premium products, the competition in the OCTG market has intensified. The current leading players of the market include Tenaris S.A., Vallourec S.A., and Sumitomo Metal Industries Ltd., among others.
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Global OCTG (Oil Country Tubular Goods) Market: An Analysis
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