Global Oil Country Tubular Goods (OCTG) Supply, Demand and Key Producers, 2026-2032
Description
The global Oil Country Tubular Goods (OCTG) market size is expected to reach $ 24798 million by 2032, rising at a market growth of 5.3% CAGR during the forecast period (2026-2032).
OCTG is the abbreviation of oil country tubular goods, also known as oil well pipe in China. It refers to a kind of steel pipe specially used for oil and gas exploitation, most of which are seamless, but welded pipe also accounts for a considerable proportion. It can be divided into four categories: oil pipe, casing pipe, drill pipe and pipeline pipe. According to the material and properties of the steel pipe, the oil well pipe is divided into different steel grades. Different steel grades represent different metal elements composition, process requirements and corresponding performance conditions. According to the chemical composition, tensile properties, yield strength and hardness requirements, oil well pipes are generally divided into four groups according to API classification method, with 11 steel grades and 19 specifications. According to the different yield strength and properties of products, there are low and medium grade steel and high grade oil well pipe. In addition to API, there are some non API oil well pipes, which are mainly for steel grade. The appearance of non API grade steel is due to the situation of ultra deep well, high temperature and high temperature and different corrosion composition with the exploration and exploitation of oil and gas. The oil well pipe and steel pipe production enterprises must adjust the metal element composition in the pipe body or adopt different processing methods to treat the steel pipe, so as to meet the performance requirements of different environments.
The OCTG market is primarily driven by the recovery and structural upgrading of global oil and gas exploration and production activities. Sustained energy demand and the long-term role of oil and gas in the global energy mix continue to support drilling activity, including new wells, reworking of existing wells, and field redevelopment. In addition, the increasing share of unconventional resources such as shale oil and gas, deepwater fields, and high-pressure/high-temperature (HPHT) wells significantly boosts demand for high-grade, high-performance OCTG. Greater emphasis by operators on well integrity, safety, and life-cycle cost efficiency, along with rising requirements for corrosion resistance and sour-service performance, further underpins long-term growth in the OCTG market.
In terms of product types, OCTG can be generally divided into Casing, Tubing and others. In 2025, the market share of OCTG(Tubing) is the largest, accounting for about 78%. In terms of product application, OCTG can be mainly used on Onshore and Offshore, among which, in 2025, the application in the field of Onshore accounts for the largest proportion, about 67%.
This report studies the global Oil Country Tubular Goods (OCTG) production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Oil Country Tubular Goods (OCTG) and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Oil Country Tubular Goods (OCTG) that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Oil Country Tubular Goods (OCTG) total production and demand, 2021-2032, (K MT)
Global Oil Country Tubular Goods (OCTG) total production value, 2021-2032, (USD Million)
Global Oil Country Tubular Goods (OCTG) production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (K MT), (based on production site)
Global Oil Country Tubular Goods (OCTG) consumption by region & country, CAGR, 2021-2032 & (K MT)
U.S. VS China: Oil Country Tubular Goods (OCTG) domestic production, consumption, key domestic manufacturers and share
Global Oil Country Tubular Goods (OCTG) production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (K MT)
Global Oil Country Tubular Goods (OCTG) production by Manufacturing Process, production, value, CAGR, 2021-2032, (USD Million) & (K MT)
Global Oil Country Tubular Goods (OCTG) production by Application, production, value, CAGR, 2021-2032, (USD Million) & (K MT)
This report profiles key players in the global Oil Country Tubular Goods (OCTG) market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Tenaris, Vallourec, TMK Group, Nippon Steel Corporation, U. S. Steel Tubular Products, ArcelorMittal, SANDVIK, Zekelman Industries, SB international Inc, Continental Alloys and Services, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Oil Country Tubular Goods (OCTG) market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (K MT) and average price (USD/MT) by manufacturer, by Manufacturing Process, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Oil Country Tubular Goods (OCTG) Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Manufacturing Process:
Seamless
Welded
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Product Type:
Casing
Tubing
Drill Pipe
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Grade and Performance:
Standard Grade
High-Strength Grade
Corrosion-Resistant Alloy Grade
Sour-Service Grade
Others
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Application:
Onshore
Offshore
Companies Profiled:
Tenaris
Vallourec
TMK Group
Nippon Steel Corporation
U. S. Steel Tubular Products
ArcelorMittal
SANDVIK
Zekelman Industries
SB international Inc
Continental Alloys and Services
Baoshan Iron and Steel Co.,Ltd.
JJiangsu Changbao Steeltube
Hunan Valin Iron & Steel Group
Tianjin Steel Pipe Group (TPCO)
JFE
Interpipe
Voestalpine
Evraz
JESCO
DALIPAL
Jindal Group
SeAH Steel
Nexteel
Hyundai Steel
Key Questions Answered:
1. How big is the global Oil Country Tubular Goods (OCTG) market?
2. What is the demand of the global Oil Country Tubular Goods (OCTG) market?
3. What is the year over year growth of the global Oil Country Tubular Goods (OCTG) market?
4. What is the production and production value of the global Oil Country Tubular Goods (OCTG) market?
5. Who are the key producers in the global Oil Country Tubular Goods (OCTG) market?
6. What are the growth factors driving the market demand?
OCTG is the abbreviation of oil country tubular goods, also known as oil well pipe in China. It refers to a kind of steel pipe specially used for oil and gas exploitation, most of which are seamless, but welded pipe also accounts for a considerable proportion. It can be divided into four categories: oil pipe, casing pipe, drill pipe and pipeline pipe. According to the material and properties of the steel pipe, the oil well pipe is divided into different steel grades. Different steel grades represent different metal elements composition, process requirements and corresponding performance conditions. According to the chemical composition, tensile properties, yield strength and hardness requirements, oil well pipes are generally divided into four groups according to API classification method, with 11 steel grades and 19 specifications. According to the different yield strength and properties of products, there are low and medium grade steel and high grade oil well pipe. In addition to API, there are some non API oil well pipes, which are mainly for steel grade. The appearance of non API grade steel is due to the situation of ultra deep well, high temperature and high temperature and different corrosion composition with the exploration and exploitation of oil and gas. The oil well pipe and steel pipe production enterprises must adjust the metal element composition in the pipe body or adopt different processing methods to treat the steel pipe, so as to meet the performance requirements of different environments.
The OCTG market is primarily driven by the recovery and structural upgrading of global oil and gas exploration and production activities. Sustained energy demand and the long-term role of oil and gas in the global energy mix continue to support drilling activity, including new wells, reworking of existing wells, and field redevelopment. In addition, the increasing share of unconventional resources such as shale oil and gas, deepwater fields, and high-pressure/high-temperature (HPHT) wells significantly boosts demand for high-grade, high-performance OCTG. Greater emphasis by operators on well integrity, safety, and life-cycle cost efficiency, along with rising requirements for corrosion resistance and sour-service performance, further underpins long-term growth in the OCTG market.
In terms of product types, OCTG can be generally divided into Casing, Tubing and others. In 2025, the market share of OCTG(Tubing) is the largest, accounting for about 78%. In terms of product application, OCTG can be mainly used on Onshore and Offshore, among which, in 2025, the application in the field of Onshore accounts for the largest proportion, about 67%.
This report studies the global Oil Country Tubular Goods (OCTG) production, demand, key manufacturers, and key regions.
This report is a detailed and comprehensive analysis of the world market for Oil Country Tubular Goods (OCTG) and provides market size (US$ million) and Year-over-Year (YoY) Growth, considering 2025 as the base year. This report explores demand trends and competition, as well as details the characteristics of Oil Country Tubular Goods (OCTG) that contribute to its increasing demand across many markets.
Highlights and key features of the study
Global Oil Country Tubular Goods (OCTG) total production and demand, 2021-2032, (K MT)
Global Oil Country Tubular Goods (OCTG) total production value, 2021-2032, (USD Million)
Global Oil Country Tubular Goods (OCTG) production by region & country, production, value, CAGR, 2021-2032, (USD Million) & (K MT), (based on production site)
Global Oil Country Tubular Goods (OCTG) consumption by region & country, CAGR, 2021-2032 & (K MT)
U.S. VS China: Oil Country Tubular Goods (OCTG) domestic production, consumption, key domestic manufacturers and share
Global Oil Country Tubular Goods (OCTG) production by manufacturer, production, price, value and market share 2021-2026, (USD Million) & (K MT)
Global Oil Country Tubular Goods (OCTG) production by Manufacturing Process, production, value, CAGR, 2021-2032, (USD Million) & (K MT)
Global Oil Country Tubular Goods (OCTG) production by Application, production, value, CAGR, 2021-2032, (USD Million) & (K MT)
This report profiles key players in the global Oil Country Tubular Goods (OCTG) market based on the following parameters - company overview, production, value, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include Tenaris, Vallourec, TMK Group, Nippon Steel Corporation, U. S. Steel Tubular Products, ArcelorMittal, SANDVIK, Zekelman Industries, SB international Inc, Continental Alloys and Services, etc.
This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the World Oil Country Tubular Goods (OCTG) market
Detailed Segmentation:
Each section contains quantitative market data including market by value (US$ Millions), volume (production, consumption) & (K MT) and average price (USD/MT) by manufacturer, by Manufacturing Process, and by Application. Data is given for the years 2021-2032 by year with 2025 as the base year, 2026 as the estimate year, and 2027-2032 as the forecast year.
Global Oil Country Tubular Goods (OCTG) Market, By Region:
United States
China
Europe
Japan
South Korea
ASEAN
India
Rest of World
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Manufacturing Process:
Seamless
Welded
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Product Type:
Casing
Tubing
Drill Pipe
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Grade and Performance:
Standard Grade
High-Strength Grade
Corrosion-Resistant Alloy Grade
Sour-Service Grade
Others
Global Oil Country Tubular Goods (OCTG) Market, Segmentation by Application:
Onshore
Offshore
Companies Profiled:
Tenaris
Vallourec
TMK Group
Nippon Steel Corporation
U. S. Steel Tubular Products
ArcelorMittal
SANDVIK
Zekelman Industries
SB international Inc
Continental Alloys and Services
Baoshan Iron and Steel Co.,Ltd.
JJiangsu Changbao Steeltube
Hunan Valin Iron & Steel Group
Tianjin Steel Pipe Group (TPCO)
JFE
Interpipe
Voestalpine
Evraz
JESCO
DALIPAL
Jindal Group
SeAH Steel
Nexteel
Hyundai Steel
Key Questions Answered:
1. How big is the global Oil Country Tubular Goods (OCTG) market?
2. What is the demand of the global Oil Country Tubular Goods (OCTG) market?
3. What is the year over year growth of the global Oil Country Tubular Goods (OCTG) market?
4. What is the production and production value of the global Oil Country Tubular Goods (OCTG) market?
5. Who are the key producers in the global Oil Country Tubular Goods (OCTG) market?
6. What are the growth factors driving the market demand?
Table of Contents
160 Pages
- 1 Supply Summary
- 2 Demand Summary
- 3 World Manufacturers Competitive Analysis
- 4 United States VS China VS Rest of the World
- 5 Market Analysis by Manufacturing Process
- 6 Market Analysis by Product Type
- 7 Market Analysis by Grade and Performance
- 8 Market Analysis by Application
- 9 Company Profiles
- 10 Industry Chain Analysis
- 11 Research Findings and Conclusion
- 12 Appendix
Pricing
Currency Rates
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