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Middle East Oil Country Tubular Goods Market Forecast [2031]

Middle East Oil Country Tubular Goods Market

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Segments - by Manufacturing Processes (Seamless and Electric Resistance Welded), Grades (Premium Grade and API Grade), and Geography (Saudi Arabia, UAE, Kuwait, and Rest of the Middle East) - Middle East Industry Analysis, Growth, Share, Size, Trends, And Forecast 2023 – 2031

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Aamir Ansari

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Swapnil Hedau

Report Description

The Middle East Oil Country Tubular Goods Market size was valued at USD XX Billion in 2022 and is expected to surpass USD XX Billion by 2031, expanding at a CAGR of 4.2% during the forecast period, 2023 – 2031. The growth of the market is attributed to the reducing supply demand gap and escalating investments from the oil & gas operators.

Oil country tubular goods (OCTGs) is a group of seamless rolled products, consisting of casing, tubing, and piping components used in the petroleum industry. These products are also used in the production of oil & gas from wells. OTCGs reduce the probability of mishaps, hazards, and risks that reduce the cost of production of the company. They are also used in the production and exploration activities on offshore and onshore reserves. Tubular products are the foundation of oil & gas well design and pipeline design and provide the conduit for the safe and efficient transport of oil and gas products.

Drill pipe is a heavy seamless tube that rotates the drill bit as well as circulates drilling fluid. These pipelines are coupled with tool joints. Drill pipe is subjected to high torque by drilling, axial tension by its dead weight, and internal pressure by purging of drilling fluid. Bending loads are attributed to non-vertical or deflected drilling, superimposed on the basic loading patterns.

Market Trends, Drivers, Restraints, and Opportunities:

Reduced oil services costs had led to significant growth of the market growth.
Increasing directional drilling is excepted to propel the growth of the Middle East oil country tubular goods market.
Increasing exploration & production (E&P) activities is anticipated to positive impact the growth of market.
Growing production of crude oil is speculated to boost the growth of the market.
Ongoing technological advancements are expected to proliferate the growth of the market.
Failure of OCTGs during E&P operations can create challenges for the oil country tubular goods market in the region.
Liberalization of the oil & gas industry by major countries in Middle East to increase the foreign investment is anticipated to create lucrative opportunities for the industry players the region.

Scope of the Report

The report on the Middle East oil country tubular goods market research report includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes	Details
Report Title	Middle East oil country tubular goods - Industry Analysis, Growth, Share, Size, Trends, and Forecast
Base Year	2022
Historic Data	2016–2021
Forecast Period	2023–2031
Segmentation	Manufacturing Processes (Seamless and Electric Resistance Welded) and Grades (Premium Grade and API Grade)
Geographical Zone	Saudi Arabia, UAE, Kuwait, and Rest of the Middle East
Report Coverage	Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report	National-Oilwell Varco Inc., Nippon Steel Corporation, Tenaris SA, ArcelorMittal SA, and Vallourec SA.

Middle East Oil Country Tubular Goods Market Segment Insights

Electric resistance welded segment to account a considerable market share

Based on manufacturing processes, the market is divided into seamless and electric resistance welded. The electric resistance welded segment to account a considerable market share owing to the active participation of companies to improve product efficiency with a focus on cost-cutting strategies. Increasing exploration & production (E&P) activities is expected to boost the market segment growth.

Premium grade segments to account a major market share

On the basis of grades, the Middle East oil country tubular goods market is fragmented into premium grade and American petroleum institute (API) grade. The premium grade segment is expected to account for a major market share during the forecast period. Increasing demand from the upstream sector is propelling the segment growth. Growing premium-grade applications in gas wells, high pressure, and temperature wells is boosting the growth of the market segment. Countries includes Iran, Iraq, and Egypt has huge reserves of crude oil and natural gas. The upstream activities in the region is expected to drive the demand for premium-grade OCTGs.

Saudi Arabia to dominate the market share

In terms of geography, the Middle East & Africa oil country tubular goods market is segregated into Saudi Arabia, UAE, Kuwait, and Rest of the Middle East. Saudi Arabia is anticipated to dominate the Middle East oil country tubular goods market during the forecast period. Rising focusing on the exploration of new fields and the expansion of existing oil and gas fields are fueling the country’s market growth. The shift toward the offshore exploration is boosting the growth of the market in Saudi Arabia.

Segments

The Market Middle-East & Africa oil country tubular goods has been segmented on the basis of

Manufacturing Processes

Seamless
Electric Resistance Welded

Grades

Premium Grade
API Grade

Geography

Saudi Arabia
UAE
Kuwait
Rest of the Middle East

Key Players

National-Oilwell Varco Inc.
Nippon Steel Corporation
Tenaris SA
ArcelorMittal SA
Vallourec SA

Competitive Landscape

Key players operating in the Middle-East & Africa oil country tubular goods market includes Henkel AG & Co. KGaA, Dow, H.B. Fuller Company, 3M, and Arkema.

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Oil Country Tubular Goods Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Oil Country Tubular Goods Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Oil Country Tubular Goods Market - Supply Chain
  4.5. Global Oil Country Tubular Goods Market Forecast
     4.5.1. Oil Country Tubular Goods Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Oil Country Tubular Goods Market Size (000â€™ Units) and Y-o-Y Growth
     4.5.3. Oil Country Tubular Goods Market Absolute $ Opportunity
5. Global Oil Country Tubular Goods Market Analysis and Forecast by Region
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Region
     5.2.2. Y-o-Y Growth Projections by Region
  5.3. Oil Country Tubular Goods Market Size and Volume Forecast by Region
     5.3.1. North America
     5.3.2. Latin America
     5.3.3. Europe
     5.3.4. Asia Pacific
     5.3.5. Middle East and Africa (MEA)
  5.4. Absolute $ Opportunity Assessment by Region
  5.5. Market Attractiveness/Growth Potential Analysis by Region
  5.6. Global Oil Country Tubular Goods Demand Share Forecast, 2019-2026
6. North America Oil Country Tubular Goods Market Analysis and Forecast
  6.1. Introduction
     6.1.1. Basis Point Share (BPS) Analysis by Country
     6.1.2. Y-o-Y Growth Projections by Country
  6.2. North America Oil Country Tubular Goods Market Size and Volume Forecast by Country
     6.2.1. U.S.
     6.2.2. Canada
  6.3. Absolute $ Opportunity Assessment by Country
  6.4. Market Attractiveness/Growth Potential Analysis
     6.4.1. By Country
     6.4.2. By Product Type
     6.4.3. By Application
  6.5. North America Oil Country Tubular Goods Demand Share Forecast, 2019-2026
7. Latin America Oil Country Tubular Goods Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
     7.1.3. Latin America Average Pricing Analysis
  7.2. Latin America Oil Country Tubular Goods Market Size and Volume Forecast by Country
      7.2.1. Brazil
      7.2.2. Mexico
      7.2.3. Rest of Latin America
   7.3. Absolute $ Opportunity Assessment by Country
  7.4. Market Attractiveness/Growth Potential Analysis
     7.4.1. By Country
     7.4.2. By Product Type
     7.4.3. By Application
  7.5. Latin America Oil Country Tubular Goods Demand Share Forecast, 2019-2026
8. Europe Oil Country Tubular Goods Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Europe Average Pricing Analysis
  8.2. Europe Oil Country Tubular Goods Market Size and Volume Forecast by Country
     8.2.1. Germany
     8.2.2. France
     8.2.3. Italy
     8.2.4. U.K.
     8.2.5. Spain
     8.2.6. Russia
     8.2.7. Rest of Europe
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. Market Attractiveness/Growth Potential Analysis
     8.4.1. By Country
     8.4.2. By Product Type
     8.4.3. By Application
  8.5. Europe Oil Country Tubular Goods Demand Share Forecast, 2019-2026
9. Asia Pacific Oil Country Tubular Goods Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Asia Pacific Average Pricing Analysis
  9.2. Asia Pacific Oil Country Tubular Goods Market Size and Volume Forecast by Country
     9.2.1. China
     9.2.2. Japan
     9.2.3. South Korea
     9.2.4. India
     9.2.5. Australia
     9.2.6. Rest of Asia Pacific (APAC)
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Market Attractiveness/Growth Potential Analysis
     9.4.1. By Country
     9.4.2. By Product Type
     9.4.3. By Application
  9.5. Asia Pacific Oil Country Tubular Goods Demand Share Forecast, 2019-2026
10. Middle East & Africa Oil Country Tubular Goods Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Middle East & Africa Average Pricing Analysis
  10.2. Middle East & Africa Oil Country Tubular Goods Market Size and Volume Forecast by Country
     10.2.1. Saudi Arabia
     10.2.2. South Africa
     10.2.3. UAE
     10.2.4. Rest of Middle East & Africa (MEA)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Market Attractiveness/Growth Potential Analysis
     10.4.1. By Country
     10.4.2. By Product Type
     10.4.3. By Application
  10.5. Middle East & Africa Oil Country Tubular Goods Demand Share Forecast, 2019-2026
11. Competition Landscape
  11.1. Global Oil Country Tubular Goods Market: Market Share Analysis
  11.2. Oil Country Tubular Goods Distributors and Customers
  11.3. Oil Country Tubular Goods Market: Competitive Dashboard
  11.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     11.4.1. National-Oilwell Varco Inc.
     11.4.2. Nippon Steel Corporation
     11.4.3. Tenaris SA
     11.4.4. ArcelorMittal SA
     11.4.5. Vallourec SA

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