Global OCTG (Oil Country Tubular Goods) Market Report: 2014 Edition
Oil country tubular goods (OCTG) are hollow steel products of circular cross-section used in the oil and gas industry for exploration and production activities. OCTG encompasses mainly three types of products which include drill pipe, casing, and tubing. OCTG can be produced as seamless or welded tubes and pipes. The OCTG manufacturers can generally either produce seamless or welded OCTG products and not both, as the capital investment to manufacture seamless OCTG is ten to twenty times higher than the investment required to manufacture welded OCTG. At the same time, API specifications for most grades of casing and tubing stipulate that either welded or seamless construction is acceptable for end-use applications. Generally, welded pipe producers entering the OCTG market concentrate on producing line pipe and in some cases, some low grades of API casing.
The key factors which are anticipated to drive OCTG market include rising global demand for oil and gas, growth in crude oil prices, economic growth and lack of alternative sources of energy. Some of the noteworthy developments of this industry include global rig count growth, increasing global E&P spending, and seamless pipe industry, among others. However, the growth of respective industry is hindered by the barrier for fluctuation in steel prices, barriers to entry, global oil and natural gas depletion and impact on environment.
This report offers a comprehensive analysis of the global OCTG market. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in depth. On the contention front, the global OCTG market is reined by few major players namely, Tenaris S.A., Vallourec, OAO TMK and Nippon Steel and Sumitomo Metal Corporation. The competitive landscape of the respective market, along with the company profiles of the leading players are also discussed in detail.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the market. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
The key factors which are anticipated to drive OCTG market include rising global demand for oil and gas, growth in crude oil prices, economic growth and lack of alternative sources of energy. Some of the noteworthy developments of this industry include global rig count growth, increasing global E&P spending, and seamless pipe industry, among others. However, the growth of respective industry is hindered by the barrier for fluctuation in steel prices, barriers to entry, global oil and natural gas depletion and impact on environment.
This report offers a comprehensive analysis of the global OCTG market. Furthermore, market dynamics such as key trends and development; and challenges are analyzed in depth. On the contention front, the global OCTG market is reined by few major players namely, Tenaris S.A., Vallourec, OAO TMK and Nippon Steel and Sumitomo Metal Corporation. The competitive landscape of the respective market, along with the company profiles of the leading players are also discussed in detail.
By combining SPSS Inc.’s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the market. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.
1. MARKET OVERVIEW
1.1 Types of OCTG Products
1.2 OCTG Manufacturing Process
2. OCTG MARKET ANALYSIS
2.1 Global Market
- Market Demand
- Market Segments
- API Vs Premium Demand
- Consumption by Application
- Regional Breakdown
- Drilling Statistics
2.2 North America
- Market Overview
- Rig Count
- API Vs Premium
2.2.1 The United States
- Supply by Segments
- Demand by Segments
- Import Growth
- Production Capacity
3. MARKET DYNAMICS
3.1 Key Trends
3.1.1 Global Rig Count Growth
3.1.2 Increasing Global E&P Spending
3.1.3 Seamless Pipe Industry
3.2 Growth Drivers
3.2.1 Rising Global Demand for Oil & Gas
3.2.2 Economic Growth
3.2.3 Growth in Crude Oil Prices
3.2.4 Lack of Alternative Sources of Energy
3.3. Challenges
3.3.1 Fluctuations in the Prices of Steel
3.3.2 Barriers to Entry
3.3.3 Environmental Issues
3.3.4 Global Oil and Natural Gas Depletion
4. COMPETITIVE LANDSCAPE
- Total Market Share
- Segment Share
5. COMPANY PROFILES
5.1 Tenaris S.A.
5.1.1 Business Overview
5.1.2 Financial Overview
5.1.3 Business Strategies
- Expand High-value Product Range
- Pursue Strategic Investments
5.2 Vallourec
5.2.1 Business Overview
5.2.2 Financial Overview
5.2.3 Business Strategies
- Growth through Innovation
- Achieving Growth through Investments
5.3 OAO TMK
5.3.1 Business Overview
5.3.2 Financial Overview
5.3.3 Business Strategies
- Growth through Acquisitions & Alliances
- Research & Development Strategy
5.4 Nippon Steel & Sumitomo Metal Corp
5.4.1 Business Overview
5.4.2 Financial Overview
5.4.3 Business Strategies
- Realize Synergy through Integration
- Technological Enhancement
6. MARKET OUTLOOK
6.1 Market Forecast
6.2 Forecast Methodology
6.2.1 Dependent and Independent Variables
6.2.2 Correlation Analysis
6.2.3 Regression Analysis
1.1 Types of OCTG Products
1.2 OCTG Manufacturing Process
2. OCTG MARKET ANALYSIS
2.1 Global Market
- Market Demand
- Market Segments
- API Vs Premium Demand
- Consumption by Application
- Regional Breakdown
- Drilling Statistics
2.2 North America
- Market Overview
- Rig Count
- API Vs Premium
2.2.1 The United States
- Supply by Segments
- Demand by Segments
- Import Growth
- Production Capacity
3. MARKET DYNAMICS
3.1 Key Trends
3.1.1 Global Rig Count Growth
3.1.2 Increasing Global E&P Spending
3.1.3 Seamless Pipe Industry
3.2 Growth Drivers
3.2.1 Rising Global Demand for Oil & Gas
3.2.2 Economic Growth
3.2.3 Growth in Crude Oil Prices
3.2.4 Lack of Alternative Sources of Energy
3.3. Challenges
3.3.1 Fluctuations in the Prices of Steel
3.3.2 Barriers to Entry
3.3.3 Environmental Issues
3.3.4 Global Oil and Natural Gas Depletion
4. COMPETITIVE LANDSCAPE
- Total Market Share
- Segment Share
5. COMPANY PROFILES
5.1 Tenaris S.A.
5.1.1 Business Overview
5.1.2 Financial Overview
5.1.3 Business Strategies
- Expand High-value Product Range
- Pursue Strategic Investments
5.2 Vallourec
5.2.1 Business Overview
5.2.2 Financial Overview
5.2.3 Business Strategies
- Growth through Innovation
- Achieving Growth through Investments
5.3 OAO TMK
5.3.1 Business Overview
5.3.2 Financial Overview
5.3.3 Business Strategies
- Growth through Acquisitions & Alliances
- Research & Development Strategy
5.4 Nippon Steel & Sumitomo Metal Corp
5.4.1 Business Overview
5.4.2 Financial Overview
5.4.3 Business Strategies
- Realize Synergy through Integration
- Technological Enhancement
6. MARKET OUTLOOK
6.1 Market Forecast
6.2 Forecast Methodology
6.2.1 Dependent and Independent Variables
6.2.2 Correlation Analysis
6.2.3 Regression Analysis
LIST OF CHARTS
Global OCTG Demand (2007-2014E)
OCTG Demand – API Vs Premium Products (2010-2014E)
Premium OCTG Consumption by Application (2013)
Global Composition of Shales by Type (2013)
OCTG Demand – Shales vs. Others (2009-2013)
Deepwater OCTG Consumption (2011-2014E)
Global Seamless OCTG Market (2007-2018E)
Global Seamless OCTG Demand- API vs. Premium (2007-2018E)
Global Onshore and Offshore Projects Forecast (2012-2018E)
Global Drilling Activity by Geography (2013)
Share of Horizontal Drilling (2009-2Q14)
Global Seamless OCTG Imports by Region (2013)
Global Welded OCTG Imports by Region (2013)
OCTG Consumption by Region (2013)
Y-O-Y Growth in Regional OCTG Consumption (2012 vs. 2013)
Active Rigs Count (2013)
Seamless OCTG Demand in North America (2012 & 2018E)
The US Rig Count (2009-2016E)
The US OCTG Production Capacity (2011-2015E)
The US Rigs Count: Oil vs. Gas Stake (2008- 2014(Jan/Oct))
The US Natural Gas (Conventional & Unconventional Production (2009-2015E)
Breakdown of US Rig Count by Nature of Drilling Operations (2013)
Onshore Wells per Rig in the US (1Q12-3Q14)
Onshore Wells in the US (1Q12-3Q14)
Global Rig Count (2004-2013)
Global E&P Capital Spending Growth (2010-2014E)
Global Oil Demand Forecast (2004-2014E)
Global Natural Gas Demand (2009-2017E)
Global GDP (2005-2013)
Worldwide Crude Oil Prices (2004-2013)
Steel Prices (May 2013 – Sep 2014)
Global OCTG Market Share by Producer (2013)
Global Seamless OCTG Market Share by Producer (2013)
Global Welded OCTG Market Share by Producer (2013)
Tenaris’ Revenues by Business Segments (2013)
Revenues of Tubes Business Segment by Geographic Region (2013)
Tenaris’ Sales and Profit (2009-2013)
Vallourec’s Revenues by Application (2013)
Vallourec’s Revenues by Geographical Area (2013)
Vallourec’s Sales and Profit (2009-2013)
TMK’s Sales Volume Breakdown by Geography (2013)
TMK’s Sales Volume Breakdown by Group of Product (2013)
TMK’s Sales and Profit (2009-2013)
NSSMC’s Revenues by Business Segments (2013)
NSSMC’s Sales Volume Breakdown by Geography (2013)
NSSMC’s Sales and Profit (2009-2013)
Global OCTG Demand Forecast (2010-2017E)
Global OCTG Demand (2007-2014E)
OCTG Demand – API Vs Premium Products (2010-2014E)
Premium OCTG Consumption by Application (2013)
Global Composition of Shales by Type (2013)
OCTG Demand – Shales vs. Others (2009-2013)
Deepwater OCTG Consumption (2011-2014E)
Global Seamless OCTG Market (2007-2018E)
Global Seamless OCTG Demand- API vs. Premium (2007-2018E)
Global Onshore and Offshore Projects Forecast (2012-2018E)
Global Drilling Activity by Geography (2013)
Share of Horizontal Drilling (2009-2Q14)
Global Seamless OCTG Imports by Region (2013)
Global Welded OCTG Imports by Region (2013)
OCTG Consumption by Region (2013)
Y-O-Y Growth in Regional OCTG Consumption (2012 vs. 2013)
Active Rigs Count (2013)
Seamless OCTG Demand in North America (2012 & 2018E)
The US Rig Count (2009-2016E)
The US OCTG Production Capacity (2011-2015E)
The US Rigs Count: Oil vs. Gas Stake (2008- 2014(Jan/Oct))
The US Natural Gas (Conventional & Unconventional Production (2009-2015E)
Breakdown of US Rig Count by Nature of Drilling Operations (2013)
Onshore Wells per Rig in the US (1Q12-3Q14)
Onshore Wells in the US (1Q12-3Q14)
Global Rig Count (2004-2013)
Global E&P Capital Spending Growth (2010-2014E)
Global Oil Demand Forecast (2004-2014E)
Global Natural Gas Demand (2009-2017E)
Global GDP (2005-2013)
Worldwide Crude Oil Prices (2004-2013)
Steel Prices (May 2013 – Sep 2014)
Global OCTG Market Share by Producer (2013)
Global Seamless OCTG Market Share by Producer (2013)
Global Welded OCTG Market Share by Producer (2013)
Tenaris’ Revenues by Business Segments (2013)
Revenues of Tubes Business Segment by Geographic Region (2013)
Tenaris’ Sales and Profit (2009-2013)
Vallourec’s Revenues by Application (2013)
Vallourec’s Revenues by Geographical Area (2013)
Vallourec’s Sales and Profit (2009-2013)
TMK’s Sales Volume Breakdown by Geography (2013)
TMK’s Sales Volume Breakdown by Group of Product (2013)
TMK’s Sales and Profit (2009-2013)
NSSMC’s Revenues by Business Segments (2013)
NSSMC’s Sales Volume Breakdown by Geography (2013)
NSSMC’s Sales and Profit (2009-2013)
Global OCTG Demand Forecast (2010-2017E)
LIST OF TABLES
US OCTG Supply Model
US OCTG Demand Model
Evolution of Rig Count by Region (2007-2013)
Global E&P Capital Spending by Region (2013-2014E)
Seamless Pipe Industry Capacity Development (2011-2013)
Dependent & Independent Variables (2007-2013)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output
US OCTG Supply Model
US OCTG Demand Model
Evolution of Rig Count by Region (2007-2013)
Global E&P Capital Spending by Region (2013-2014E)
Seamless Pipe Industry Capacity Development (2011-2013)
Dependent & Independent Variables (2007-2013)
Correlation Matrix
Model Summary – Coefficient of Determination
Regression Coefficients Output
