The South America Oil Country Tubular Goods market size was valued at US$ 3.13 billion in 2024 and is expected to reach US$ 4.72 billion by 2031; it is estimated to record a CAGR of 6.1% from 2025 to 2031.
The South America oil country tubular goods market is poised for sustained growth, underpinned by significant expansion in the region's refining and upstream oil and gas sectors. Capital expenditure at major blocks such as La Calera is projected to exceed US$ 9 billion through 2027, which includes the development of infrastructure such as treatment facilities and crude dispatch pipelines. Meanwhile, in Colombia, Canada's NG Energy is accelerating gas development at the Sinu-9 and Maria Conchita blocks, with plans for multiple new wells and pipeline installations. These upstream activities are expected to significantly contribute to regional OCTG consumption through 2025 and beyond.
As Suriname advances its offshore energy expansion, the national oil company Staatsolie is simultaneously intensifying efforts to bolster onshore crude production, which presents new opportunities for the oil country tubular goods (OCTG) market. Focus has shifted to the coastal blocks of Coronie and Uitkijk, strategically located adjacent to Staatsolie's existing producing areas - Calcutta and Tambaredjo.
This targeted exploration initiative aims to identify at least 10 million barrels (Mb) of proven reserves beyond the current field boundaries, ensuring the sustainability of the country's annual production target of 6 million barrels. The success of this campaign could extend the operational life of Suriname's mature assets and support incremental drilling activity, thereby driving the demand for OCTG products such as casing, tubing, and drill pipe tailored for onshore applications.
Corpac, ArcelorMittal S.A., Vallourec S.A., Tenaris, Jacob Tubing LP, Nippon Steel, Kelly Pipe Co. LLC, United States Steel Corporation, and TMK Group among others are among the key South America Oil Country Tubular Goods market players that are profiled in this market study.
The overall South America Oil Country Tubular Goods market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the South America Oil Country Tubular Goods market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the South America Oil Country Tubular Goods market.
Reasons to Buy
The South America oil country tubular goods market is poised for sustained growth, underpinned by significant expansion in the region's refining and upstream oil and gas sectors. Capital expenditure at major blocks such as La Calera is projected to exceed US$ 9 billion through 2027, which includes the development of infrastructure such as treatment facilities and crude dispatch pipelines. Meanwhile, in Colombia, Canada's NG Energy is accelerating gas development at the Sinu-9 and Maria Conchita blocks, with plans for multiple new wells and pipeline installations. These upstream activities are expected to significantly contribute to regional OCTG consumption through 2025 and beyond.
As Suriname advances its offshore energy expansion, the national oil company Staatsolie is simultaneously intensifying efforts to bolster onshore crude production, which presents new opportunities for the oil country tubular goods (OCTG) market. Focus has shifted to the coastal blocks of Coronie and Uitkijk, strategically located adjacent to Staatsolie's existing producing areas - Calcutta and Tambaredjo.
This targeted exploration initiative aims to identify at least 10 million barrels (Mb) of proven reserves beyond the current field boundaries, ensuring the sustainability of the country's annual production target of 6 million barrels. The success of this campaign could extend the operational life of Suriname's mature assets and support incremental drilling activity, thereby driving the demand for OCTG products such as casing, tubing, and drill pipe tailored for onshore applications.
Corpac, ArcelorMittal S.A., Vallourec S.A., Tenaris, Jacob Tubing LP, Nippon Steel, Kelly Pipe Co. LLC, United States Steel Corporation, and TMK Group among others are among the key South America Oil Country Tubular Goods market players that are profiled in this market study.
The overall South America Oil Country Tubular Goods market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the South America Oil Country Tubular Goods market size. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the South America Oil Country Tubular Goods market.
Reasons to Buy
- Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the South America oil country tubular goods market.
- Highlights key business priorities in order to assist companies to realign their business strategies
- The key findings and recommendations such as specific country andsegmental insight highlights crucial progressive industry trends in the South America oil country tubular goods market, thereby allowing players across the value chain to develop effective long-term strategies.
- Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
- Scrutinize in-depth market trends and outlook coupled with the factors driving the market, as well as those hindering it
- Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution
Table of Contents
1. Introduction
2. Executive Summary
3. Research Methodology
4. South America Oil Country Tubular Goods Market Landscape
5. South America Oil Country Tubular Goods Market - Key Market Dynamics
6. South America Oil Country Tubular Goods Market Analysis
7. South America Oil Country Tubular Goods Market Analysis - by Process
8. South America Oil Country Tubular Goods Market Analysis - by Product
9. South America Oil Country Tubular Goods Market Analysis - by Application
10. South America Oil Country Tubular Goods Market - Country Analysis
11. Competitive Landscape
12. Industry Landscape
13. Company Profiles
14. Appendix
List of Tables
List of Figures
Companies Mentioned
The List of Companies - South America Oil Country Tubular Goods Market include:- Corpac
- ArcelorMittal S.A.
- Vallourec S.A.
- Tenaris
- Nippon Steel
- United States Steel Corporation
- Tianjin Pipe Corporation (TPCO)
Table Information
Report Attribute | Details |
---|---|
No. of Pages | 129 |
Published | May 2025 |
Forecast Period | 2024 - 2031 |
Estimated Market Value ( USD | $ 3.13 Billion |
Forecasted Market Value ( USD | $ 4.72 Billion |
Compound Annual Growth Rate | 6.1% |
No. of Companies Mentioned | 8 |