Global Oil Country Tubular Good (OCTG) Market (by Process, Grade, Application, Product, Demand, Production, & Region): Insights and Forecast with Potential Impact of COVID-19 (2023-2028)

Global Oil Country Tubular Good (OCTG) Market (by Process, Grade, Application, Product, Demand, Production, & Region): Insights and Forecast with Potential Impact of COVID-19 (2023-2028)


Market Insight:

Oil country tubular goods (OCTG) are a type of solid rolled product that consists of casing, drill pipe, and tubing with varying loading requirements depending on the application. The widespread use of hydrocarbons in industries such as power generation, manufacturing, process, and transportation has resulted in a significant increase in exploration and production operations, which is increasing demand for OCTG products.

The OCTG market has grown significantly in recent years, owing to a variety of factors. The rising demand for oil and gas as a source of energy has been a major driver of growth. As a result, drilling and extraction activities have risen, which has resulted in increased demand for OCTG. Furthermore, advances in drilling technology have contributed in the development of more complex and difficult drilling operations, necessitating more specialied and long-lasting OCTG. High oil and gas prices have driven up both domestic and international rig counts. Global OCTG net capacity and capacity utilisation are expected to rise as the international recovery in project activity accelerates, particularly in the Middle East across both short and long-cycle developments. Utilisation rates have been a major factor in determining earnings for both OCTG producers and steelmakers. As a result, rising utilisation rates and net capacity are expected to play a significant role in driving OCTG production. The increased demand for these products is due to a variety of factors, including increased global demand for oil and gas, technological advancements, and consumer preferences. The global oil country tubular good (OCTG) market is expected to be worth US$24.50 billion in 2023, witnessing growth at a CAGR of 6.75%, during the projected period. In addition, the global OCTG production and demand are predicted to reach 13.48 million tons and 16.46 million tons, respectively in 2023.

Segment Covered:
  • By Process: In terms of process, the report offers insights of the global oil country tubular good (OCTG) market into two segments: Seamless and Welded. The seamless segment dominated the OCTG market. The increased use of seamless tube in the oil and gas industry is mostly due to the fact that it is extruded and drawn from a billet. A seamless tube has a short length and normally does not show signs of corrosion unless it is exposed to a severely corrosive environment. The increased exploration activity in off-shore areas, as well as the redevelopment of several oil fields, are likely to give abundant prospects for the expansion of the seamless process of OCTG market.
  • By Grade: On the basis of grade, the report provides the segmentation of the global market as follows: Premium and API. The premium grade segment leads the global market for oil country tubular goods. Oil and gas reserves are being developed and explored offshore, and this has resulted in a demand for high-grade transportation tubes that can withstand corrosion and provide leak-proof operation and sealing integrity of the connections even when loaded, bent, and subjected to high internal pressure. The demand for premium tubing to carry oil and gas from onshore and offshore fields to the consumer's location is likely to create significant chances for the premium segment oil country tubular goods to grow during the forecasted period.
  • By Application: The report further offers the bifurcation of the market into two segments according to the application: Onshore and Offshore. Onshore OCTG is expected to be the fastest growing segment in the forecasted period. Onshore OCTG is mainly used in drilling and production operations that are closer to the shore. Onshore OCTG is typically less expensive and easier to obtain, as it is more readily available and does not require the same level of specialized manufacturing and transportation. Onshore OCTG is also subject to less harsh conditions and less stringent safety regulations. The onshore OCTG market is also being driven by the increasing use of horizontal drilling and hydraulic fracturing techniques.
  • By Product: The report also identifies four segments on the basis of product: Well Casing, Production Tubing, Drill Pipe & Others. Well Casing is expected to be the fastest growing segment in the forecasted period. Well casing is a large diameter pipe that is inserted into a borehole's drilled section. This casing is typically held in place by cement or other materials placed between the casings and the wellbore. It is regarded as an important part of the well completion process. The rise in demand for well casing in this market is primarily due to the fact that it aids in the drilling process in a variety of ways, including providing a strong foundation to allow the use of high density drilling fluid to continue drilling deeper and providing a smooth internal bore for installing production equipment, all of which are expected to provide ample opportunities for the growth of the well casing product in the oil country tubular goods market.
Geographic Coverage:

According to this report, the global oil country tubular good (OCTG) market is divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa and Latin America. The countries covered in North America region are the US, Canada, and Mexico, while Europe includes UK, Italy, Germany, and Rest of Europe. Moreover, China, India, Japan, South Korea, and Rest of the Asia Pacific are included in the Asia Pacific region.

North America accounted for the maximum share of the global market. The US is one of the largest oil and gas producer. The increased use of premium quality products in remote areas with harsh environments has resulted in an increase in deep-water exploration, which drives market growth. The US has become a major importer of OCTG, sourcing products from countries such as Japan, South Korea, and several European countries. One of the key factors contributing to this growth is the easing of trade restrictions on OCTG imports in the region. Mexico is one of the major offshore deep-water reserves, and production is expected to increase during the forecast period.

The Asia Pacific market is expected to expand significantly during the forecast period, driven by the increasing demand for energy in the region. The region is home to some of the world's largest oil and gas producing countries, including China, and India, which are driving the demand for OCTG products. In addition, the region is also witnessing an increase in exploration and production activities, which is further boosting the market.

Top Impacting Factors:

Growth Drivers
  • Growing Oil Demand
  • Rising Energy Consumption
  • Growth in Hydraulic Fracturing Activities
  • Technological Innovation in Drilling Techniques
Challenges
  • Increasing OCTG Prices in the US
  • Environmental Issues
Trends
  • Escalating Investment in Offshore Drilling Activities
  • Increasing R&D Spending in Energy Sector
  • Rise in Horizontal Directional Drilling for Oil & Gas Excavations
  • Easing Trade Restrictions in North America
  • Driver: Growing Oil Demand
Growing oil demand is a major driving factor of the OCTG (Oil Country Tubular Goods) market. As the global economy continues to expand, so does the demand for oil and gas, which are essential inputs for transportation, power generation, and industrial production. As a result, more oil and gas wells are being drilled, leading to increased demand for OCTG products. OCTG products, such as drilling pipe, casing, and tubing, are critical components in the drilling and production of oil and gas wells. These products are used to protect the wellbore and to keep the well from collapsing, as well as to allow oil and gas to flow to the surface. As the number of wells drilled increases, so does the demand for OCTG products.
  • Challenge: Increasing OCTG Prices in the US
The steel and metal industry, which includes the production of OCTG, is highly sensitive to fluctuations in supply and demand, as well as changes in raw material prices. As a result, prices for OCTG products in the US have risen in recent years, presenting several challenges to the OCTG market. Higher prices can lead to decreased demand for these products. As prices rise, customers may opt for alternative materials or turn to foreign suppliers who offer lower prices. This can result in decreased market share for domestic producers and reduced profits for the industry as a whole. The increasing OCTG prices places the strain on the supply chain. As prices increase, suppliers may struggle to meet the demand for OCTG products, leading to shortages and supply chain disruptions. Decreased demand, decreased competitiveness, increased inflation, and government intervention are all potential consequences of these rising prices, which can hamper the growth of the global OCTG market.
  • Trend: Escalating Investment in Offshore Drilling Activities
Offshore drilling activities refer to the process of extracting oil and natural gas from beneath the ocean floor. These activities have become increasingly popular in recent years due to the increasing demand for energy and the depletion of onshore reserves. The increasing investment in offshore drilling activities is a driving factor of the market for oil country tubular goods (OCTG), which includes the pipes, casing, and tubing used in the drilling process. The increasing use of technology and the growth of emerging economies have also contributed to the growing demand for energy. As a result, companies are looking to offshore drilling as a way to meet this demand and ensure a steady supply of energy. The increasing investment in offshore drilling activities has also led to advancements in technology and equipment. As companies look to extract oil and natural gas from increasingly difficult environments, they are investing in new technologies and equipment to make the process more efficient and cost-effective, which is expected to drive the growth of OCTG market in coming years.

The COVID-19 Analysis:

COVID 19 pandemic has negatively impacted every facet of the global economy, including the OCTG market. OCTG is a vital component of the oil and gas industry, used in the production of oil and gas wells. The global COVID-19 pandemic caused a dramatic drop in the rig count. The lower rig count resulted in lower rates of oil and gas E&P activities, causing demand for tubular and casting products to fall which eventually hampered the global OCTG market in 2020. In addition to the decrease in demand, the COVID-19 pandemic has caused a disruption in the supply chain of OCTG. Moreover, the pandemic has caused global oil demand to plummet. This has caused a major glut of stored crude oil as producers were unable to sell their products. This has caused prices to fall to their lowest levels in decades, with Brent crude prices dropping to as low as US$15 per barrel in April 2020.

Despite the short-term challenges posed by the pandemic, the post COVID outlook for the oil country tubular good (OCTG) market looks positive. As the world slowly emerges from the pandemic, the demand for OCTG is expected to increase. The oil industry is likely to witness a surge in exploration activities, resulting in an increase in the demand for OCTG. This is primarily due to the fact that OCTG is used in the extraction of oil and gas, and thus the increased exploration activities are expected to drive the demand for OCTG. Furthermore, the demand for OCTG is expected to be driven by the increased demand for energy in the long-term. As the world transitions to renewable sources of energy, oil and gas will remain a major energy source. This will result in an increase in the demand for OCTG to support exploration activities.

Analysis of Key Players:

Global oil country tubular good (OCTG) market is moderately consolidated, with increasing acquisitions, collaboration, and product launches. Competition in the OCTG market is intense, with players focusing on improving product quality, increasing production capacity, and expanding their global reach. Price competition is also a significant factor in the market, with companies looking to offer competitive prices to gain a larger share of the market. The key players in the global oil country tubular good (OCTG) market are:
  • ArcelorMittal S.A.
  • JFE Holdings Inc.
  • Tenaris S.A.
  • MRC Global Inc.
  • EVRAZ PLC
  • NOV Inc.
  • Nippon Steel Corp
  • United States Steel Corporation
  • Vallourec S.A.
  • ILJIN Steel Co., Ltd.
  • PAO TMK
  • Canam Pipe & Supply
  • J-Hobbs Machine Corp.


1. Executive Summary
2. Introduction
2.1 Oil Country Tubular Good (OCTG): An Overview
2.1.1 Types of OCTG Products
Table 1: Types of OCTG Products
2.1.2 OCTG Manufacturing Process
Table 2: OCTG Manufacturing Process
2.2 Oil Country Tubular Good (OCTG) Segmentation: An Overview
2.2.1 Oil Country Tubular Good (OCTG) Segmentation
Table 3: Oil Country Tubular Good (OCTG) Segmentation
2.2.2 Oil Country Tubular Good (OCTG) Segmentation by Product
Table 4: Oil Country Tubular Good (OCTG) Segmentation by Product
3. Global Market Analysis
3.1 Global Oil Country Tubular Good (OCTG) Market: An Analysis
3.1.1 Global Oil Country Tubular Good (OCTG) Market: An Overview
3.1.2 Global Oil Country Tubular Good (OCTG) Market by Value
Table 5: Global Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 6: Global Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.1.3 Global Oil Country Tubular Good (OCTG) Market by Process (Seamless & Welded)
Table 7: Global Oil Country Tubular Good (OCTG) Market by Process; 2022 (Percentage, %)
3.1.4 Global Oil Country Tubular Good (OCTG) Market by Grade (Premium & API)
Table 8: Global Oil Country Tubular Good (OCTG) Market by Grade; 2022 (Percentage, %)
3.1.5 Global Oil Country Tubular Good (OCTG) Market by Application (Onshore & Offshore)
Table 9: Global Oil Country Tubular Good (OCTG) Market by Application; 2022 (Percentage, %)
3.1.6 Global Oil Country Tubular Good (OCTG) Market by Product (Well Casing, Production Tubing, Drill Pipe, & Others)
Table 10: Global Oil Country Tubular Good (OCTG) Market by Product; 2022 (Percentage, %)
3.1.7 Global Oil Country Tubular Good (OCTG) Market by Region (North America, Asia Pacific, Europe, Middle East & Africa & Latin America)
Table 11: Global Oil Country Tubular Good (OCTG) Market by Region; 2022 (Percentage, %)
3.2 Global Oil Country Tubular Good (OCTG) Market: Demand Analysis
3.2.1 Global Oil Country Tubular Good (OCTG) Market by Demand: An Overview
3.2.2 Global Oil Country Tubular Good (OCTG) Market by Demand
Table 12: Global Oil Country Tubular Good (OCTG) Market by Demand; 2018-2022 (Million Ton)
Table 13: Global Oil Country Tubular Good (OCTG) Market by Demand; 2023-2028 (Million Ton)
3.2.3 Global Oil Country Tubular Good (OCTG) Demand by Region (the US & Canada, China & Russia, Latin America and ROW)
Table 14: Global Oil Country Tubular Good (OCTG) Demand by Region; 2022 (Percentage, %)
3.3 Global Oil Country Tubular Good (OCTG) Market: Production Analysis
3.3.1 Global Oil Country Tubular Good (OCTG) Market by Production: An Overview
3.3.2 Global Oil Country Tubular Good (OCTG) Market by Production
Table 15: Global Oil Country Tubular Good (OCTG) Market by Production; 2018-2022 (Million Ton)
Table 16: Global Oil Country Tubular Good (OCTG) Market by Production; 2023-2028 (Million Ton)
3.4 Global Oil Country Tubular Good (OCTG) Market: Process Analysis
3.4.1 Global Oil Country Tubular Good (OCTG) Market by Process: An Overview
3.4.2 Global Seamless Oil Country Tubular Good (OCTG) Market by Value
Table 17: Global Seamless Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 18: Global Seamless Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.4.3 Global Welded Oil Country Tubular Good (OCTG) Market by Value
Table 19: Global Welded Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 20: Global Welded Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.5 Global Oil Country Tubular Good (OCTG) Market: Grade Analysis
3.5.1 Global Oil Country Tubular Good (OCTG) Market by Grade: An Overview
3.5.2 Global Premium Oil Country Tubular Good (OCTG) Market by Value
Table 21: Global Premium Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 22: Global Premium Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.5.3 Global API Oil Country Tubular Good (OCTG) Market by Value
Table 23: Global API Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 24: Global API Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.6 Global Oil Country Tubular Good (OCTG) Market: Application Analysis
3.6.1 Global Oil Country Tubular Good (OCTG) Market by Application: An Overview
3.6.2 Global Onshore Oil Country Tubular Good (OCTG) Market by Value
Table 25: Global Onshore Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 26: Global Onshore Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.6.3 Global Offshore Oil Country Tubular Good (OCTG) Market by Value
Table 27: Global Offshore Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 28: Global Offshore Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.7 Global Oil Country Tubular Good (OCTG) Market: Product Analysis
3.7.1 Global Oil Country Tubular Good (OCTG) Market by Product: An Overview
3.7.2 Global Well Casing Oil Country Tubular Good (OCTG) Market by Value
Table 29: Global Well Casing Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 30: Global Well Casing Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.7.3 Global Product Tubing Oil Country Tubular Good (OCTG) Market by Value
Table 31: Global Product Tubing Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 32: Global Product Tubing Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.7.4 Global Drill Pipe Oil Country Tubular Good (OCTG) Market by Value
Table 33: Global Drill Pipe Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 34: Global Drill Pipe Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
3.7.5 Global Other Oil Country Tubular Good (OCTG) Products Market by Value
Table 35: Global Other Oil Country Tubular Good (OCTG) Products Market by Value; 2018-2022 (US$ Billion)
Table 36: Global Other Oil Country Tubular Good (OCTG) Products Market by Value; 2023-2028 (US$ Billion)
4. Regional Market Analysis
4.1 North America Oil Country Tubular Good (OCTG) Market: An Analysis
4.1.1 North America Oil Country Tubular Good (OCTG) Market: An Overview
4.1.2 North America Oil Country Tubular Good (OCTG) Market by Value
Table 37: North America Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 38: North America Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.1.3 North America Oil Country Tubular Good (OCTG) Market by Region (The US, Canada & Mexico)
Table 39: North America Oil Country Tubular Good (OCTG) Market by Region; 2022 (Percentage, %)
4.1.4 The US Oil Country Tubular Good (OCTG) Market by Value
Table 40: The US Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 41: The US Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.1.5 The US Oil Country Tubular Good (OCTG) Market by Imports
Table 42: The US Oil Country Tubular Good (OCTG) Market by Imports; August 2018-August 2022 (Kilo Ton)
4.1.6 The US Oil Country Tubular Good (OCTG) Imports by Sources
Table 43: The US Oil Country Tubular Good (OCTG) Imports by Sources; 2021 & 2022 (Percentage, %)
4.1.7 Canada Oil Country Tubular Good (OCTG) Market by Value
Table 44: Canada Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 45: Canada Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.1.8 Mexico Oil Country Tubular Good (OCTG) Market by Value
Table 46: Mexico Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 47: Mexico Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Million)
4.2 Asia Pacific Oil Country Tubular Good (OCTG) Market: An Analysis
4.2.1 Asia Pacific Oil Country Tubular Good (OCTG) Market: An Overview
4.2.2 Asia Pacific Oil Country Tubular Good (OCTG) Market by Value
Table 48: Asia Pacific Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 49: Asia Pacific Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.2.3 Asia Pacific Oil Country Tubular Good (OCTG) Market by Region (China, India, Japan, South Korea & Rest of Asia Pacific)
Table 50: Asia Pacific Oil Country Tubular Good (OCTG) Market by Region; 2022 (Percentage, %)
4.2.4 China Oil Country Tubular Good (OCTG) Market by Value
Table 51: China Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 52: China Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.2.5 India Oil Country Tubular Good (OCTG) Market by Value
Table 53: India Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 54: India Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.2.6 Japan Oil Country Tubular Good (OCTG) Market by Value
Table 55: Japan Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 56: Japan Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.2.7 South Korea Oil Country Tubular Good (OCTG) Market by Value
Table 57: South Korea Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 58: South Korea Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Million)
4.2.8 Rest of Asia Pacific Oil Country Tubular Good (OCTG) Market by Value
Table 59: Rest of Asia Pacific Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 60: Rest of Asia Pacific Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.3 Europe Oil Country Tubular Good (OCTG) Market: An Analysis
4.3.1 Europe Oil Country Tubular Good (OCTG) Market: An Overview
4.3.2 Europe Oil Country Tubular Good (OCTG) Market by Value
Table 61: Europe Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 62: Europe Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.3.3 Europe Oil Country Tubular Good (OCTG) Market by Region (The UK, Italy, Germany & Rest of Europe)
Table 63: Europe Oil Country Tubular Good (OCTG) Market by Region; 2022 (Percentage, %)
4.3.4 The UK Oil Country Tubular Good (OCTG) Market by Value
Table 64: The UK Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 65: The UK Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Million)
4.3.5 Italy Oil Country Tubular Good (OCTG) Market by Value
Table 66: Italy Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 67: Italy Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Million)
4.3.6 Germany Oil Country Tubular Good (OCTG) Market by Value
Table 68: Germany Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Million)
Table 69: Germany Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Million)
4.3.7 Rest of Europe Oil Country Tubular Good (OCTG) Market by Value
Table 70: Rest of Europe Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 71: Rest of Europe Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.4 Middle East & Africa Oil Country Tubular Good (OCTG) Market: An Analysis
4.4.1 Middle East & Africa Oil Country Tubular Good (OCTG) Market: An Overview
4.4.2 Middle East & Africa Oil Country Tubular Good (OCTG) Market by Value
Table 72: Middle East & Africa Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 73: Middle East & Africa Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
4.5 Latin America Oil Country Tubular Good (OCTG) Market: An Analysis
4.5.1 Latin America Oil Country Tubular Good (OCTG) Market: An Overview
4.5.2 Latin America Oil Country Tubular Good (OCTG) Market by Value
Table 74: Latin America Oil Country Tubular Good (OCTG) Market by Value; 2018-2022 (US$ Billion)
Table 75: Latin America Oil Country Tubular Good (OCTG) Market by Value; 2023-2028 (US$ Billion)
5. Regional OCTG Demand Analysis
5.1 The US & Canada Oil Country Tubular Good (OCTG) Market: Demand Analysis
5.1.1 The US & Canada Oil Country Tubular Good (OCTG) Market by Demand
Table 76: The US & Canada Oil Country Tubular Good (OCTG) Market by Demand; 2018-2022 (Million Ton)
Table 77: The US & Canada Oil Country Tubular Good (OCTG) Market by Demand; 2023-2028 (Million Ton)
5.2 China & Russia Oil Country Tubular Good (OCTG) Market: Demand Analysis
5.2.1 China & Russia Oil Country Tubular Good (OCTG) Market by Demand
Table 78: China & Russia Oil Country Tubular Good (OCTG) Market by Demand; 2018-2022 (Million Ton)
Table 79: China & Russia Oil Country Tubular Good (OCTG) Market by Demand; 2023-2028 (Million Ton)
5.3 Latin America Country Tubular Good (OCTG) Market: Demand Analysis
5.3.1 Latin America Oil Country Tubular Good (OCTG) Market by Demand
Table 80: Latin America Oil Country Tubular Good (OCTG) Market by Demand; 2018-2022 (Kilo Ton)
Table 81: Latin America Oil Country Tubular Good (OCTG) Market by Demand; 2023-2028 (Million Ton)
6. Impact of COVID-19
6.1 Impact of COVID-19
6.1.1 Impact of COVID-19 on OCTG Market
6.1.2 Fall in the Rig Count
Table 82: The US Oil & Gas Rig Count, 2016-2021 (Units)
6.1.3 Decreased Oil Production
Table 83: The US Oil Production by Region, 2017-2021 (Terawatt-hour, TWh)
6.1.4 Post COVID Scenario
7. Market Dynamics
7.1 Growth Drivers
7.1.1 Growing Oil Demand
Table 84: Global Oil Demand, 2019-2023 (Million of Barrels per Day)
7.1.2 Rising Energy Consumption
Table 85: Global Primary Energy Consumption by Sources, 2018-2021 (Terawatt Hours)
7.1.3 Growth in Hydraulic Fracturing Activities
Table 86: The US Shale Gas and Tight Oil Plays Production, 2020-2050 (Trillion Cubic Feet)
7.1.4 Accelerating Economic Growth
Table 87: Global Real GDP Annual Percentage Change, 2020-2025 (Percentage, %)
7.1.5 Technological Innovation in Drilling Techniques
7.1.6 Growth in Footage of Wells Drilled
7.2 Challenges
7.2.1 Increasing OCTG Prices in the US
Table 88: The US OCTG Prices, April 2020-August 2022 (US$ Thousand/Ton)
7.2.2 Environmental Issues
7.3 Market Trends
7.3.1 Escalating Investment in Offshore Drilling Activities
Table 89: Global Offshore Drilling Market by Value, 2018 & 2026 (US$ Billion)
7.3.2 Increasing R&D Spending in Energy Sector
7.3.3 Rise in Horizontal Directional Drilling for Oil & Gas Excavation
7.3.4 Easing Trade Restrictions in North America
Table 90: North America Trade Restriction Decisions
8. Competitive Landscape
8.1 Global Premium Oil Country Tubular Good (OCTG) Players by Market Share
Table 91: Global Premium Oil Country Tubular Good (OCTG) Players by Market Share; 2022 (Percentage, %)
8.2 The US Oil Country Tubular Good (OCTG) Players by Market Share
Table 92: The US Oil Country Tubular Good (OCTG) Players by Market Share; 2022 (Percentage, %)
9. Company Profiles
9.1 Tenaris S.A.
9.1.1 Business Overview
9.1.2 Operating Segments
Table 93: Tenaris S.A. Net Sales by Segments, 2021 (Percentage, %)
9.1.3 Business Strategies
9.2 ArcelorMittal S.A.
9.2.1 Business Overview
9.2.2 Operating Segments
Table 94: ArcelorMittal S.A. Sales by Segments, 2021 (Percentage, %)
9.2.3 Business Strategies
9.3 EVRAZ Plc
9.3.1 Business Overview
9.3.2 Operating Segments
Table 95: EVRAZ Plc Revenues by Segments, 2021 (Percentage, %)
9.4 JFE Holdings Inc.
9.4.1 Business Overview
9.4.2 Operating Segments
Table 96: JFE Holdings Inc. Net Sales by Segments, 2021 (Percentage, %)
9.4.3 Business Strategies
9.5 MRC Global Inc.
9.5.1 Business Overview
9.5.2 Sales by Industry Sector
Table 97: MRC Global Inc. Sales by Industry Sector, 2021 (Percentage, %)
9.5.3 Business Strategies
9.6 NOV Inc.
9.6.1 Business Overview
9.6.2 Operating Segments
Table 98: NOV Inc. Revenue by Segments, 2021 (Percentage, %
9.7 Nippon Steel Corp
9.7.1 Business Overview
9.7.2 Operating Segments
Table 99: Nippon Steel Corp Revenue by Segments, 2021 (Percentage, %)
9.7.3 Business Strategies
9.8 PAO TMK
9.8.1 Business Overview
9.8.2 Operating Segments
Table 100: PAO TMK Revenue by Segments, 2021 (Percentage, %)
9.8.3 Business Strategies
9.9 United States Steel Corp.
9.9.1 Business Overview
9.9.2 Operating Segments
Table 101: United States Steel Corp. Net Sales by Segments, 2021 (Percentage, %)
9.9.3 Business Strategies
9.10 Vallourec S.A.
9.10.1 Business Overview
9.10.2 Revenue by Market
Table 102: Vallourec S.A. Revenue by Market, 2021 (Percentage, %)
9.10.3 Business Strategies
9.11 ILJIN Steel Co., Ltd.
9.11.1 Business Overview
9.12 J-Hobbs Machine Corp.
9.12.1 Business Overview
9.13 Canam Pipe & Supply
9.13.1 Business Overview

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