Published on : Mar 09, 2017
Albany, New York, March 9, 2017: As the world’s economy rises, demand for oil & gas increases. This in turn increases the demand for Oil Country Tubular Goods (OCTG). A new research report titled as ‘Global OCTG (Oil Country Tubular Goods) Market: Industry Analysis & Outlook’ has been published on the Market Research Hub’s online research offerings. This report is an in-depth and professional analysis on the current state and future prospects of the global OCTG market. The major market trends, growth drivers and hindrances faced by the industry players are discussed. It encapsulates all the aspects about the market including technological developments and developmental strategies contributing towards the market growth. Geographically, key regions focused in the report includes the US, Russia and China.
The report begins by providing a basic overview of the industry that includes introduction, types of OCTG products, types of OCTG pipes and OCTG manufacturing process. Oil Country Tubular Goods (OCTG) includes a wide range of steel tubular products that are used for Oil and Gas exploration and production and in specific drilling. These are seamless and welded (Electric Resistance Welding) pipes & tubes and come in several sizes and length. The process of manufacturing of seamless and welded pipes and tubes are different from the seamless pipes that are designed to withstand huge stress.
Driving factors for growth are increasing demand for oil & gas, future global energy consumption, accelerating economic growth and demand growth for fossil fuels. The market is stalled by challenges of drilling with casing for OCTG, falling crude oil prices, environmental issues, international political & economic instability, fluctuating global rig count and depletion of limited oil and gas reserves.
For better analysis the market is divided on the basis of products into drill pipe, casing and tubing. On the basis of country, the report studied the US, Russia and China. Their rig count, consumption by volume and segment, production, production value, capacity, supply/demand, cost/profit and import/export are discussed. A comparison is made between welded OCTG and HRC prices and between seamless OCTG and scrap prices.
The global OCTG market industry is not fragmented and comprises of a few large players, which are the following:
- Nippon Steel & Sumitomo Metal Corporation
- Tenaris S.A
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All these players are individually studied in the report highlighting their financial overview and business overview and business strategies for growth.
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