global octg (oil country tubular goods) market report: 2016 edition - new report by koncept...
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OCTG Market Report -----------------------------------------
2016
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Executive SummaryThe oil country tubular goods (OCTG) sector involves companies whose work is to make steel products to be used while drilling oil and gas wells. These are hollow steel products of circular cross-section used in the oil and gas industry for exploration and production activities. OCTG includes generally three categories of products - drill pipe, casing, and tubing. OCTG products can be manufactured 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 quite high in comparison to the investment required in manufacturing welded OCTG.
The key factors which are anticipated to drive OCTG market include increasing global demand for oil and gas, economic growth, investment growth in offshore exploration activities and no substitute sources present for the present forms of energy. The industry is facing a decline in demand because of the falling oil prices and the decline in global rig count. The regions undergoing rapid industrialization process in the developed countries like China, India and Gulf nations have shown positive signs but the market will take time to bounce back on a positive note. Some of the significant developments of this industry include fluctuating rig count growth, increasing global E&P spending, and increasing global steel demand. However, the growth of the industry is hindered by the falling crude oil and steel prices, depletion of energy reserves and effect on the 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.
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Falling Crude oil prices, declining number of rigs and demand to affect the OCTG market..
The global OCTG demand has increased from ….. million tons in 2013 to …… million tons in 2014 and is estimated to decrease to …. million tons in 2015.
The average number of rigs stood at … units in 2014 which fell to …. units in 2015 while it was …. units in 2013
The average annual crude oil price was valued at US$..... per barrel in 2013 which decreased to US$..... per barrel in 2014.
The OCTG demand for drilling shale wells has increased from … million tons in 2013 to …… million tons in 2014.
Average World Rig Count (2009-2015)
Global OCTG Demand (2009-2015E)
Crude Oil Price (2010-2014)
2009 2010 2011 2012 2013 2014 2015E
Mill
ion
Tons
2009 2010 2011 2012 2013 2014 2015
Units
2010 2011 2012 2013 2014
US$
Per B
arre
l
OCTG market is primarily driven by oil and gas demand and economic growth.
In 2014, the global oil demand reached ….. million barrels per day in comparison to …… million barrels per day in 2013.
The global oil supply was ….. million barrels per day in 2013 which increased to ….. million barrels per day in 2014.
It is estimated that around …% of the natural gas increased demand will come from the ….. sector and …..% increase in the demand will be from the …… sector.
It is estimated that the global total energy consumption will increase to …. billion metric tons of oil equivalent by 2040.
Incremental Gas Demand by Sector (2014-2020E)
Global Oil Demand (2010-2015)
Global Total Energy Consumption (1990- 2040 E)
2010 2011 2012 2013 2014 2015
Mill
ion
Barr
els
Per D
ay
1990 2012 2020 2030 2040
Billi
on M
etric
Ton
s
The future outlook of the OCTG market would mainly be driven by number of rigs and crude oil price.
The OCTG is poised to grow at a compounded annual growth rate of …% from ……million tons in 2014 to …… million tons in 2019.
Growing demand of oil and gas, accelerated economic growth, increased global E&P spending, investment in offshore drilling activity, no substitute sources of energy and future energy consumption are likely the drivers of OCTG market
Falling energy prices and declining number of rig counts have posed a major threat for this industry.
OCTG Market Forecast (2014-2019E)
2014 2015 2016E 2017E 2018E 2019E
Mill
ion
Tons
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