Global OCTG Market Growth 2023-2029

Global OCTG Market Growth 2023-2029

OCTG is the abbreviation of oil country tubular goods, also known as oil well pipe in China. It refers to a kind of steel pipe specially used for oil and gas exploitation, most of which are seamless, but welded pipe also accounts for a considerable proportion. It can be divided into four categories: oil pipe, casing pipe, drill pipe and pipeline pipe.

According to the material and properties of the steel pipe, the oil well pipe is divided into different steel grades. Different steel grades represent different metal elements composition, process requirements and corresponding performance conditions. According to the chemical composition, tensile properties, yield strength and hardness requirements, oil well pipes are generally divided into four groups according to API classification method, with 11 steel grades and 19 specifications. According to the different yield strength and properties of products, there are low and medium grade steel and high grade oil well pipe.

In addition to API, there are some non API oil well pipes, which are mainly for steel grade. The appearance of non API grade steel is due to the situation of ultra deep well, high temperature and high temperature and different corrosion composition with the exploration and exploitation of oil and gas. The oil well pipe and steel pipe production enterprises must adjust the metal element composition in the pipe body or adopt different processing methods to treat the steel pipe, so as to meet the performance requirements of different environments.

LPI (LP Information)' newest research report, the “OCTG Industry Forecast” looks at past sales and reviews total world OCTG sales in 2022, providing a comprehensive analysis by region and market sector of projected OCTG sales for 2023 through 2029. With OCTG sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world OCTG industry.

This Insight Report provides a comprehensive analysis of the global OCTG landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on OCTG portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global OCTG market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for OCTG and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global OCTG.

The global OCTG market size is projected to grow from US$ 13790 million in 2022 to US$ 17490 million in 2029; it is expected to grow at a CAGR of 17490 from 2023 to 2029.

In terms of product types, OCTG can be generally divided into Casing, Tubing and others. In 2019, the market share of OCTG(Tubing) is the largest, accounting for about 78%.

In terms of product application, OCTG can be mainly used on Onshore and Offshore, among which, in 2019, the application in the field of Onshore accounts for the largest proportion, about 67%.

This report presents a comprehensive overview, market shares, and growth opportunities of OCTG market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type
Casing
Tubing
Others

Segmentation by application
Onshore
Offshore

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Tenaris
Vallourec
TMK Group
TPCO
Nippon Steel & Sumitomo Metal
U. S. Steel Tubular Products
ArcelorMittal
SANDVIK
Zekelman Industries
SB international Inc
Continental Alloys & Services
Baosteel
Changbao
Hengyang Valin Steel Tube
JFE
Interpipe
Voestalpine
Evraz
JESCO
Jindal Saw
Maharashtra
SeAH Steel
Nexteel
Hyundai Hysco

Key Questions Addressed in this Report

What is the 10-year outlook for the global OCTG market?

What factors are driving OCTG market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do OCTG market opportunities vary by end market size?

How does OCTG break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.