Oil Country Tubular Goods (OCTG) Industry Market is valued at USD 47957.51 Million in 2018 and expected to reach USD 77110.10 Million by 2025 with the CAGR of 7.02% over the forecast period.
The worldwide oil nation country tubular goods market is anticipated to witness strong growth over the forecast period owing to increasing drilling and production activities. Rising interest for premium funnels combined with the coming of mechanically propelled pipes. Suitable determination of OCTG during boring exercises helps spare generally speaking cost and decrease the odds of causing dangers.
Market development additionally relies upon the upgrades in efficiencies and progressions in well boring innovation to improve the recoverability of oil and gas assets. Rising interest for cutting edge Oil Country Tubular Goods items in new regions of offbeat assets has a potential open door for organizations to put resources into new item advancement to separate themselves from their rivals.
Scope of Oil Country Tubular Goods OCTG Industry Market:
(OCTG) are defined as the tubes which are used in oil and gas production. These includes drill funnel, packaging and tubing. OCTGs are utilized both inland and seaward that is on the land and in sea. Each wellbore prepared in numerous stages during which drill funnel, packaging and tubing are utilized on the other hand. The American Petroleum Institute (API) determines normalized particulars that characterizes highlights of Oil Country Tubular Goods and arranged in to 10 evaluations.
These properties can be accomplished through compound structure of steel and ensuing warmth treatment. Drill pipe is an overwhelming cylinder that turns the boring apparatus and courses penetrating liquid. Packaging pipe lines the borehole. It continues pivotal strain by its dead weight, inner weight by liquid cleansing and outside weight by encompassing stone development. Tubing is to pipe through the drag to extricate oil and gases from wellbore.
Market Segmentation of Oil Country Tubular Goods Industry Market:-
Drill Pipe, Casing, Tubing, Other
By Area of Application:
Brandessence Market Research has announced the Top Seven Oil Country Tubular Goods (OCTG) Company Market List In 2020:
Nippon Steel Corporation, was formed in 2012 with the merger of the original Nippon Steel and Sumitomo Metal. The original Nippon Steel Corporation was formed in 1970 with the merger of Fuji Iron & Steel and Yawata Iron & Steel. Nippon Steel Corporation is the world's third largest steel producer by volume as of 2017
Nippon Steel Corporation manufactures steel products. The Company mainly produces and sells steel plates, steel pipes, structural steel, and more. Nippon Steel also offers chemicals, new materials, and other products.
Tenaris S.A. is a global manufacturer and supplier of steel pipes and related services, primarily for the energy industry with nearly 21,750 employees around the world. It is a majority-owned subsidiary company of the Techint Group, which has interests in steel, energy, engineering and construction and industrial equipment.
It is headquartered in Luxembourg and is also a supplier of welded steel pipes for gas pipelines in South America. It has manufacturing facilities in Argentina, Brazil, Canada, China, Colombia, Italy, Japan, Mexico, Romania, and the US, and customer service centers in over 20 countries. Tenaris has an annual production capacity of 3.3 million tons of seamless, and 2.8 million tons of welded pipes, annual consolidated net sales in excess of US$12.1 billion (2008) and 19,400 employees worldwide. In 2007 Tenaris bought Hydril and later split the premium connections from pressure control side of the business. The pressure control business was sold to GE Oil and Gas in April 2008.
S.A. is a multinational manufacturing company headquartered in Boulogne-Billancourt, Paris, France. specializes in hot rolled seamless steel tubes, Vallourec S.A. is a multinational manufacturing company headquartered in Boulogne-Billancourt, Paris, France. Vallourec specializes in hot rolled seamless steel tubes, expandable tubular technology, automotive parts, and stainless steel, which it provides to energy, construction, automotive, and mechanical industries. Vallourec shares are listed on NYSE Euronext.
Vallourec Company world leader in its markets, Vallourec provides benchmark tubular solutions for the energy sectors and for other applications, including some of the most demanding: from oil and gas wells in extreme conditions to next-generation power plants to daring architectural projects and extremely high-performing mechanical equipment. Adapted to the challenges of the 21st century, our comprehensive, innovative solutions are designed for three main markets: oil and gas, low-carbon energy, and industry.
National Oilwell Varco (NOV) is an American multinational corporation based in Houston, Texas. It is a leading worldwide provider of equipment and components used in oil and gas drilling and production operations, oilfield services, and supply chain integration services to the upstream oil and gas industry.
The company conducts operations in more than 600 locations across six continents,operating through three reporting segments: Rig Technologies, Wellbore Technologies, and Completion & Production Solutions.
Nationa l O Tianjin Pipe (Group) Corporation (TPCO), located in Tianjin, a dynamic fast growing industrial city in North China, specializes in the production of seamless steel pipes. Equipped with state-of-the-art facilities and technology, TPCO has a capacity to produce 3,500,000 tons of quality seamless pipes per year, including casing, tubing, line pipe and other tubular products, such as high, medium and low-pressure boiler tubes, high-pressure cylinder tube, hydraulic support tube, structural pipe and pipes for various fluid transmission applications.
TPCO is the biggest Oil Country Tubular Goods (OCTG) production base of China. Its OCTG products have been used in more than 24 domestic oil fields, onshore and offshore, enjoying over 40% of the domestic OTCG market share. TPCO has also exported its seamless steel pipes to over 80 countries and regions of the world covering Europe, Americas, Asia, Africa and Oceania. TPCO is the biggest Oil Country Tubular Goods (OCTG) production base of China. Its OCTG products have been used in more than 24 domestic oil fields, onshore and
ILJIN STEEL CO
iljin steel Company Founded in 1982 as a steel and aluminum bobbin supplier for synthetic fiber winding, ILJIN is a market leader in supplying high strength and precision bobbins. In the early 1990’s, ILJIN launched a series of new businesses in cold drawn tubing, aluminum-clad steel wiring and cold drawn shaped bars on the basis of its precision tube technology.
ILJIN’s creative philosophy has led the ILJIN Steel to become one of technological leaders of manufacturing raw material into innovative products. By establishing core competencies in cold drawing and metal forming technologies, ILJIN Steel has effectively differentiated itself in the market through accelerated expansion in diversified products and consistent quality improvement.
TMK is one of the world’s leading producers of tubular products for the oil and gas industry. Since 2009 it has been ranked first in the world by volume of pipes shipped. In 2018, TMK’s pipe shipments totaled 4.01 million tonnes.
The Company operates production sites in Russia, Romania and Kazakhstan. TMK has steel pipe production capacity, with the largest share of sales dedicated to oil country tubular goods (OCTG). TMK enjoys strong market positions in the seamless OCTG segment. In 2018, our sales represented approximately 15% of the worldwide market for this pipe. The company is a national leader in Russia with 24% market share, including 63% of the seamless OCTG market. TMK is focused on meeting the demands of the global oil and gas industry, which makes up approximately 78% of the Company's customer base.
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26 Feb 2021