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Oil Country Tubular Goods (OCTG) Market - Global Industry Analysis (2018 - 2020) - Growth Trends and Market Forecast (2021-2026)

  • Report
  • 158 Pages
  • April 2022
  • Region: Global
  • Fairfield Market Research
  • ID: 5576702

FEATURED COMPANIES

  • ArcelorMittal
  • GE Steel Resources
  • Iljin Steel Co., Ltd
  • Nippon Steel Corporation
  • Tenaris S.A
  • Tianjin Pipe Corporation
The publisher finds out that the worldwide oil country tubular goods market size was valued at US$34,286.8 Mn in 2020 and projected to reach US$65,940.3 Mn by 2026, exhibiting a CAGR of 12.6% from 2021 to 2026.

Oil country tubular goods (OCTG) are a group of seamless and welded rolled products that include drill pipes, casing, and tubing solutions. Based on their intended use, these goods are subjected to specific loading conditions. In recent years, the OCTG market has gained momentous growth which is accredited to a mounting number of fresh projects to be operated in formidable environments, proliferation in upstream oil & gas operations, and rig counts.

During the COVID 19 tragedy, the OCTG market witnessed a steep decline in demand due to the shutdown of various manufacturing industries caused by significant disruptions in transportation of raw materials and the availability of low labor. However, considering the current and backlog oil & drilling projects, the OCTG goods have been smoothly making their way back to the market. Going forward, the oil country tubular goods market is envisaged to thrive with growth opportunities, operational efficacy while working in harsh conditions, and a higher application rate of hydrocarbons across a range of industries. Moreover, the report foresees tremendous growth and development in the OCTG domain owing to robust investments by government and private entities coupled with the development of favorable policies.

Prominent Highlights and Trends Across the Global Oil Country Tubular Goods Market


By value, North America garnered 41.9% of the global oil country tubular goods market in 2020. However, based on volume, the market is likely to favor Asia Pacific with an expected CAGR of 9.1% during the forecasted period.

On the basis of OCTG market type, the market is bifurcated as seamless and welded. Amongst these types, the seamless segment is anticipated to rule the market during the forecasted period. A major share of 59.1% of OCTG market value was held by seamless OCTG products in 2020.

In 2020, based on application, the onshore segment reigned supreme with a lion’s share of 74.5% in the oil country tubular goods market across the globe.

Premium OCTG Grade Upholds Superior Performance


The report envisions a positive trend for the premium grade segment of the OCTG market. Higher efficacy, viability, and ability to work well in challenging and harsh upstream oil and gas operations make premium-grade OCTG products a preferable choice. Additionally, the increased focus on the development of deepwater and offshore reserves has further accelerated the demand for premium grade OCTG products.

With Highest Market Share, North America Emerges as Regional Leader


North America is predicted to sustain its dominance as the regional leader in the global oil country tubular goods market. The region is anticipated to command the highest market over the prophesied period with remunerative investments and rising demand for casing, drill pipes, and tubing OCTG products. This favorable growth is further attributed to the relevant government policies and augmentation of drilling activities and shale gas reserves exploitation.

Prominent players gaining a competitive edge in the global oil country tubular goods (OCTG) market include CONTINENTAL ALLOYS & SERVICES, United States Steel, ArcelorMittal, NIPPON STEEL CORPORATION, Iljin Steel Co., Ltd, TMK Group, Henan Anson Steel Corporation, GE Steel Resources, Tenaris S.A, and Tianjin Pipe Corporation.

FEATURED COMPANIES

  • ArcelorMittal
  • GE Steel Resources
  • Iljin Steel Co., Ltd
  • Nippon Steel Corporation
  • Tenaris S.A
  • Tianjin Pipe Corporation

1. Executive Summary
1.1. Global Oil Country Tubular Goods (OCTG) Market Snapshot
1.2. Future Projections
1.3. Key Market Trends
1.4. Analyst Recommendations
2. Market Overview
2.1. Market Definitions and Segmentations
2.2. Market Dynamics
2.2.1. Drivers
2.2.2. Restraints
2.2.3. Market Opportunities
2.2.4. Economic Trends
2.3. Value Chain Analysis
2.4. Porter’s Five Forces Analysis & PEST Analysis
2.5. Covid-19 Impact
2.5.1. Supply Chain
2.5.2. End-user Customer Impact Analysis
3. Global Oil Country Tubular Goods (OCTG):Micro/Macro Economic Factors
4. Global Oil Country Tubular Goods (OCTG) Market Outlook, 2018 - 2026
4.1. Global Oil Country Tubular Goods (OCTG) Market Outlook, by Grade, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
4.1.1. Key Highlights
4.1.1.1. API
4.1.1.2. Premium
4.1.2. BPS Analysis/Market Attractiveness Analysis, by Grade
4.2. Global Oil Country Tubular Goods (OCTG) Market Outlook, by Type, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
4.2.1. Key Highlights
4.2.1.1. Seamless
4.2.1.2. Welded
4.2.2. BPS Analysis/Market Attractiveness Analysis, by Type
4.3. Global Oil Country Tubular Goods (OCTG) Market Outlook, by Application, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
4.3.1. Key Highlights
4.3.1.1. Onshore
4.3.1.2. Offshore
4.3.2. BPS Analysis/Market Attractiveness Analysis, by Application
4.4. Global Oil Country Tubular Goods (OCTG) Market Outlook, by Region, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
4.4.1. Key Highlights
4.4.1.1. North America
4.4.1.2. Europe
4.4.1.3. Asia Pacific
4.4.1.4. Latin America
4.4.1.5. Middle East & Africa
4.4.2. BPS Analysis/Market Attractiveness Analysis, by Region
5. North America Oil Country Tubular Goods (OCTG) Market Outlook, 2018 - 2026
5.1. North America Oil Country Tubular Goods (OCTG) Market Outlook, by Grade, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
5.1.1. Key Highlights
5.1.1.1. API
5.1.1.2. Premium
5.2. North America Oil Country Tubular Goods (OCTG) Market Outlook, by Type, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
5.2.1. Key Highlights
5.2.1.1. Seamless
5.2.1.2. Welded
5.3. North America Oil Country Tubular Goods (OCTG) Market Outlook, by Application, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
5.3.1. Key Highlights
5.3.1.1. Onshore
5.3.1.2. Offshore
5.4. North America Oil Country Tubular Goods (OCTG) Market Outlook, by Country, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
5.4.1. Key Highlights
5.4.1.1. U.S. Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
5.4.1.2. Canada Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
6. Europe Oil Country Tubular Goods (OCTG) Market Outlook, 2018 - 2026
6.1. Europe Oil Country Tubular Goods (OCTG) Market Outlook, by Grade, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
6.1.1. Key Highlights
6.1.1.1. API
6.1.1.2. Premium
6.2. Europe Oil Country Tubular Goods (OCTG) Market Outlook, by Type, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
6.2.1. Key Highlights
6.2.1.1. Seamless
6.2.1.2. Welded
6.3. Europe Oil Country Tubular Goods (OCTG) Market Outlook, by Application, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
6.3.1. Key Highlights
6.3.1.1. Onshore
6.3.1.2. Offshore
6.4. Europe Oil Country Tubular Goods (OCTG) Market Outlook, by Country, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
6.4.1. Key Highlights
6.4.1.1. Russia Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
6.4.1.2. Norway Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
6.4.1.3. U.K. Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
6.4.1.4. Rest of Europe Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
7. Asia Pacific Oil Country Tubular Goods (OCTG) Market Outlook, 2018 - 2026
7.1. Asia Pacific Oil Country Tubular Goods (OCTG) Market Outlook, by Grade, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
7.1.1. Key Highlights
7.1.1.1. API
7.1.1.2. Premium
7.1.2. BPS Analysis/Market Attractiveness Analysis
7.2. Asia Pacific Oil Country Tubular Goods (OCTG) Market Outlook, by Type, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
7.2.1. Key Highlights
7.2.1.1. Seamless
7.2.1.2. Welded
7.3. Asia Pacific Oil Country Tubular Goods (OCTG) Market Outlook, by Application, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
7.3.1. Key Highlights
7.3.1.1. Onshore
7.3.1.2. Offshore
7.4. Asia Pacific Oil Country Tubular Goods (OCTG) Market Outlook, by Country, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
7.4.1. Key Highlights
7.4.1.1. China Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
7.4.1.2. India Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
7.4.1.3. ASEAN Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
7.4.1.4. Rest of Asia Pacific Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
8. Latin America Oil Country Tubular Goods (OCTG) Market Outlook, 2018 - 2026
8.1. Latin America Oil Country Tubular Goods (OCTG) Market Outlook, by Grade, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
8.1.1. Key Highlights
8.1.1.1. API
8.1.1.2. Premium
8.2. Latin America Oil Country Tubular Goods (OCTG) Market Outlook, by Type, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
8.2.1. Key Highlights
8.2.1.1. Seamless
8.2.1.2. Welded
8.3. Latin America Oil Country Tubular Goods (OCTG) Market Outlook, by Application, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
8.3.1. Key Highlights
8.3.1.1. Onshore
8.3.1.2. Offshore
8.4. Latin America Oil Country Tubular Goods (OCTG) Market Outlook, by Country, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
8.4.1. Key Highlights
8.4.1.1. Brazil Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
8.4.1.2. Mexico Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
8.4.1.3. Venezuela Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
8.4.1.4. Rest of Latin America Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
9. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Outlook, 2018 - 2026
9.1. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Outlook, by Grade, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
9.1.1. Key Highlights
9.1.1.1. API
9.1.1.2. Premium
9.2. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Outlook, by Type, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
9.2.1. Key Highlights
9.2.1.1. Seamless
9.2.1.2. Welded
9.3. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Outlook, by Application, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
9.3.1. Key Highlights
9.3.1.1. Onshore
9.3.1.2. Offshore
9.4. Middle East & Africa Oil Country Tubular Goods (OCTG) Market Outlook, by Country, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
9.4.1. Key Highlights
9.4.1.1. GCC Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
9.4.1.2. South Africa Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
9.4.1.3. Nigeria Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), by Grade, by Type, and by Application- 2018 - 2026
9.4.1.4. Rest of Middle East & Africa Oil Country Tubular Goods (OCTG) Market, Volume (TTPA) and Value (US$ Mn), 2018 - 2026
10. Competitive Landscape
10.1. Company Market Share Analysis, 2020
10.2. Strategic Collaborations
10.3. Company Profiles
10.3.1. ArcelorMittal
10.3.1.1. Company Overview
10.3.1.2. Product Portfolio
10.3.1.3. Financial Overview
10.3.1.4. Business Strategies and Development
10.3.2. Iljin Steel Co., Ltd
10.3.2.1. Company Overview
10.3.2.2. Product Portfolio
10.3.2.3. Financial Overview
10.3.2.4. Business Strategies and Development
10.3.3. Tenaris S.A
10.3.3.1. Company Overview
10.3.3.2. Product Portfolio
10.3.3.3. Financial Overview
10.3.3.4. Business Strategies and Development
10.3.4. United States Steel
10.3.4.1. Company Overview
10.3.4.2. Product Portfolio
10.3.4.3. Financial Overview
10.3.4.4. Business Strategies and Development
10.3.5. TMK Group
10.3.5.1. Company Overview
10.3.5.2. Product Portfolio
10.3.5.3. Financial Overview
10.3.5.4. Business Strategies and Development
10.3.6. Tianjin Pipe Corporation
10.3.6.1. Company Overview
10.3.6.2. Product Portfolio
10.3.6.3. Financial Overview
10.3.6.4. Business Strategies and Development
10.3.7. Henan Anson Steel Corporation
10.3.7.1. Company Overview
10.3.7.2. Product Portfolio
10.3.7.3. Financial Overview
10.3.7.4. Business Strategies and Development
10.3.8. GE Steel Resources
10.3.8.1. Company Overview
10.3.8.2. Product Portfolio
10.3.8.3. Financial Overview
10.3.8.4. Business Strategies and Development
10.3.9. NIPPON STEEL CORPORATION
10.3.9.1. Company Overview
10.3.9.2. Product Portfolio
10.3.9.3. Financial Overview
10.3.9.4. Business Strategies and Development
10.3.10. CONTINENTAL ALLOYS & SERVICES
10.3.10.1. Company Overview
10.3.10.2. Product Portfolio
10.3.10.3. Financial Overview
10.3.10.4. Business Strategies and Development
11. Appendix
11.1. Research Methodology
11.2. Report Assumptions
11.3. Acronyms and Abbreviations

A selection of companies mentioned in this report includes:

  • ArcelorMittal
  • Iljin Steel Co., Ltd
  • Tenaris S.A
  • United States Steel
  • TMK Group
  • Tianjin Pipe Corporation
  • Henan Anson Steel Corporation
  • GE Steel Resources
  • Nippon Steel Corporation
  • Continental Alloys & Services

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