Oil Country Tubular Goods (OCTG) Market

Global oil country tubular goods (OCTG) market is anticipated to reach US$ 65.9 billion by 2026.

Global top 5 players in oil country tubular goods (OCTG) market includes: United States Steel, ArcelorMittal, Tenaris S.A, TMK Group, and Iljin Steel Co., Ltd.

In 2020, North America constituted 41.9% of the global oil country tubular goods (OCTG) market by value. In terms of volume, Asia Pacific is expected to register a CAGR of 9.1% from 2021-2026.

In terms of grade, API segment dominated and constituted 69.9% share of the global oil country tubular goods (OCTG) market in 2020. In terms of type, seamless segment dominated and constituted 60.9% share of the global oil country tubular goods (OCTG) market in 2020. In terms of application, onshore segment dominated and constituted 74.5% share of the global oil country tubular goods (OCTG) market in 2020.

The on-going war between Russia and Ukraine has resulted in $130 crude oil price per barrel and is expected to remain volatile throughout 2022. This is likely to benefit the demand for OCTG products.