2016 Economic Impact on OCTG Industry with Result, Research, Froecast Growth 2025, Global Demand
Description- Executive Summary Oil Country Tubular Goods (OCTG) refers to the steel tubes and casings which are primarily used for drilling and producing oil and gas. OCTG consists of drill pipe, casing, and tubing subjected to loading conditions according to their specific application. Globally, the increasing appetite for energy has led to growth in oil and gas exploration and production activities and it has resulted in the growing demand for OCTG products. OCTG can be produced as seamless or welded tube and pipe. Seamless OCTG tubes/pipes are mostly used for oil and gas exploration and production as the seamless process can achieve higher grades and heavier wall thicknesses than welding can. Growth of the market is backed by growth in crude oil prices, rising global demand for oil and natural gas and increase in number of drill rigs. Factors that are holding back market growth are environmental and regulatory issues in addition to depletion of limited oil and gas rese