Consumer Insights
Uncover trends and behaviors shaping consumer choices today
Procurement Insights
Optimize your sourcing strategy with key market data
Industry Stats
Stay ahead with the latest trends and market analysis.
The global oil country tubular goods market attained a value of USD 27.12 Billion in 2025 and is projected to expand at a CAGR of 6.80% through 2035. The market is further expected to achieve USD 52.36 Billion by 2035. Rising adoption of extended reach drilling and ultra deepwater projects is accelerating demand for high collapse, premium threaded OCTG capable of withstanding extreme pressure, temperature, and corrosive operating conditions globally.
Capital discipline is driving companies to prefer longer-life oil country tubular goods (OCTG) with lower failure risks, reducing non-productive time during drilling and workover operations. However, more restrictive trade policies and import duties in the United States and the Middle East are ramping up local sourcing, hence, affecting the total growth of the oil country tubular goods market. This has pushed global producers to build up their regional finishing, threading, and inspection capabilities to adequately serve national oil companies and shale producers signing the long-term supply agreements.
The oil country tubular goods market is becoming more focused on premium-grade and digitally traceable products as upstream operators prioritize reliability over the amount of product used. In June 2025, Vallourec revealed that they had signed a multi-year OCTG supply contract with ADNOC for the provision of their hydrogen-ready, high-collapse seamless pipes, which will be utilized in sour gas developments in Abu Dhabi. More than half of the new onshore wells need corrosion, resistant alloys, which is an indication of how the evolution of material sciences is strongly influencing procurement decisions.
Structural shifts in drilling economics are resulting in a change in how OCTG manufacturers are reorienting their portfolios. The trend of longer horizontal wells, more fracturing stages, and deeper offshore campaigns is boosting the need for premium connections and thicker wall designs, thus, changing the entire oil country tubular goods market dynamics. Firms like Tenaris and Nippon Steel are investing their capital in proprietary premium thread technologies and heat, treated grades that lower failure risks. For example, Jindal SAW, in a 51%-49% partnership, created a joint venture with Hunting Energy Services to start the first premium OCTG threading factory in India at Nashik, since January 2022. Such product policies enable suppliers to protect their margins despite the overall fluctuating rig counts, particularly in North America and the Middle East.
Base Year
Historical Period
Forecast Period
Compound Annual Growth Rate
6.8%
Value in USD Billion
2026-2035
*this image is indicative*
| Global Oil Country Tubular Goods Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 27.12 |
| Market Size 2035 | USD Billion | 52.36 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 6.80% |
| CAGR 2026-2035 - Market by Region | Europe | 7.0% |
| CAGR 2026-2035 - Market by Country | USA | 7.8% |
| CAGR 2026-2035 - Market by Country | UK | 7.5% |
| CAGR 2026-2035 - Market by Product | Well Casing | 7.4% |
| CAGR 2026-2035 - Market by Application | Onshore | 7.7% |
| Market Share by Country 2025 | UK | 4.9% |
Extended reach drilling together with well architectures with enhanced depth are reshaping the patterns of demand in the oil country tubular goods market. Operators are drilling longer laterals, using higher fracture intensity, and increasingly targeting high-pressure reservoirs. In August 2025, Aramco signed a USD 11 billion lease-and-leaseback agreement with a consortium of international investors, led by Global Infrastructure Partners, covering its Jafurah gas processing facilities. Such programs are viewed locally as opportunities for suppliers to invest in premium OCTG manufacturing and testing capabilities, while securing long-term supply contracts across emerging shale and offshore basins.
Corrosion resistant alloys and hydrogen ready steel grades are gaining priority as operators handle sour gas and energy transition risks. OCTG suppliers are investing heavily in metallurgy. Companies like Vallourec are also launching hydrogen compatible seamless pipes, targeting carbon capture and storage wells. The French government supports industrial decarbonization funding for steel producers. Further, ADNOC announced the signing of a strategic partnership agreement with Tubacex to localize critical oilfield technology, enhancing the resilience of the UAE’s industrial base in May 2025. These oil country tubular goods market developments shift procurement toward premium alloys, lifting margins for suppliers with advanced heat treatment, testing, and traceability systems.
Localization mandates and trade policies are reshaping OCTG investment decisions. Governments are encouraging local production as a strategy to reduce import exposure. For instance, the United States continues to implement Section 232 tariffs, which helps domestic mills. In November 2025, United States Steel Corporation declared a USD 75 million investment to set up a new Premium Thread Line at its Fairfield Tubular Operations in Fairfield, Alabama. Brazil and India are also putting energy security and industrial resilience upstream as top priorities and thus, they are adopting localization frameworks, creating new oil country tubular goods market opportunities.
Premium connections and proprietary thread designs are becoming competitive differentiators. For example, Tubacex unveiled Sentinel Prime, its latest premium connection technology for the Oil Country Tubular Goods (OCTG) market in November 2024. Suppliers investing in advanced connection R&D are increasingly securing bundled contracts that combine product supply with inspection services, digital make-up monitoring, and ongoing technical support. This oil country tubular goods market trend has strengthened customer retention across offshore and unconventional drilling campaigns, supported by national energy transition funding programs.
Digital manufacturing and quality traceability are accelerating adoption of smart OCTG. Operators demand full lifecycle data to reduce risk, while mills are incorporating AI inspection, RFID tracking, and automated testing in their processes. In July 2024, Nippon Steel enhanced their OCTG lines through a digital defect detection system with Equinor. Vendors that provide data transparency have a greater chance of winning RFPs, especially in the case of offshore and LNG-related projects that require regulatory compliance and safety documentation. This trend is in line with the government, supported industrial digitization and export competitiveness initiatives across the Asia Pacific, Middle East, and North America oil country tubular goods markets.
The EMR’s report titled “Global Oil Country Tubular Goods Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Key Insight: Product segmentation in the oil country tubular goods market reflects how operators manage risk across drilling and production stages. Well casing dominates due to its structural role and zero tolerance for failure. Product tubing follows closely, driven by production optimization and recompletion activity. Drill pipe demand aligns with rig activity and directional drilling intensity, while the other products serve niche requirements. Manufacturers balancing high volume casing with higher margin tubing and specialty products are better positioned to stabilize revenues across drilling cycles.
Market Breakup by Manufacturing Process
Key Insight: Seamless pipes currently registers the largest share of the oil country tubular goods market where performance margins are thin and failure costs are high. ERW pipes complement this by serving high volume, lower risk applications. Operators increasingly blend both processes within single well architectures. This segmentation allows manufacturers to diversify portfolios and serve multiple budgets. Investment decisions depend on regional drilling profiles and regulatory requirements. Suppliers that maintain both seamless and ERW capabilities can flex production based on demand cycles.
Market Breakup by Grade
Key Insight: As per the oil country tubular goods market report, API grades dominate where simplicity and scale matter most. Premium grades gain traction where complexity, depth, and corrosion define project economics. Operators rarely choose one exclusively, instead, they deploy grades strategically across well sections. This selective approach allows cost optimization without compromising safety. The ability to transition customers from API to premium solutions over time strengthens long-term relationships and revenue stability across drilling cycles.
Market Breakup by Application
Key Insight: Onshore dominates consumption through scale and repetition. Offshore drives technological advancement and margin expansion. Both segments influence product strategy differently, broadening the oil country tubular goods market scope. While onshore favors efficiency and logistics, offshore prioritizes reliability and engineering support. Suppliers balancing both can smooth revenue volatility. As operators allocate capital selectively, OCTG demand shifts between applications. Understanding these dynamics is critical for capacity planning and investment decisions.
Market Breakup by Region
Key Insight: Regional dynamics in the oil country tubular goods market vary by resource maturity and investment focus. North America leads through scale standardized drilling and replacement driven demand. Europe emphasizes regulatory compliance and selective offshore activity. Asia Pacific balances offshore gas developments with onshore unconventional programs. Latin America supports OCTG demand through deepwater and national oil company projects. Middle East and Africa drives growth via long life reservoirs and premium specifications.
| CAGR 2026-2035 - Market by | Country |
| USA | 7.8% |
| UK | 7.5% |
| India | 7.0% |
| Germany | 6.7% |
| China | 5.8% |
| Canada | XX% |
| France | XX% |
| Italy | XX% |
| Japan | 3.6% |
| Australia | XX% |
| Saudi Arabia | XX% |
| Brazil | XX% |
| Mexico | XX% |
By product, well casing dominates the current market dynamics due to structural integrity needs
Well casing remains the dominant product category as operators prioritize long term well integrity over initial cost savings. Casing bears the maximum structural load during drilling and production, especially in high pressure and extended reach wells. National oil companies and large independents increasingly specify thicker walls and higher collapse resistance to avoid remedial work. Well casing procurement is now bundled with inspection, threading, and running services, favoring suppliers with integrated offerings. According to the oil country tubular goods market analysis, current United States pricing for OCTG API 5CT casing remains stable at USD 1,375-1,425 per short ton, unchanged since September 2025.
Product tubing is emerging as the fastest growing subsegment as operators focus on flow assurance and production efficiency. Tubing selection directly impacts well productivity, artificial lift compatibility, and long-term maintenance costs. Mature fields undergoing recompletions and workovers are driving repeat tubing demand. Additionally, gas heavy developments require tighter tolerances and better sealing performance. Operators increasingly specify upgraded tubing grades to handle higher temperatures and corrosive environments.
By manufacturing process, seamless pipes lead adoption due to pressure tolerance
Seamless OCTG, due to superior mechanical strength and pressure handling capability, accounts for the dominant share of the oil country tubular goods market revenue. These pipes are preferred in deep, high pressure, and sour service wells where weld integrity risks are unacceptable. Operators specify seamless products for critical casing strings and production tubing in complex reservoirs. Seamless pipes also perform better under cyclic loading during extended reach drilling. Manufacturers invest heavily in heat treatment, ultrasonic testing, and dimensional control to meet stringent specifications. For example, in January 2026, Tenaris restarted heat-treatment and finishing lines at its Koppel, Pennsylvania facility, boosting seamless OCTG production for the United States energy market with a USD 2.1 million investment and 80+ new jobs.
ERW pipes are witnessing faster growth due to cost efficiency and improvements in weld technology. Enhanced inspection methods and tighter process control have improved reliability, making ERW suitable for less critical casing and tubing applications. Onshore shale developments favor ERW for surface and intermediate strings where volumes are large. Localization policies also support ERW adoption as mills can be established faster with lower capital investment.
API grades dominate volumes due to regulatory standardization
API grade OCTG continues to largely contribute to the overall oil country tubular goods market value due to widespread regulatory acceptance and cost effectiveness. Most conventional onshore wells and surface casing applications rely on API specifications. Operators favor API grades for predictable performance and easier qualification across multiple regions. These grades support standardized procurement and competitive bidding. In November 2025, OMS Energy Technologies won API Spec 11D1 certification for its retrievable packers, expanding its OCTG and surface wellhead product line.
Premium grades represent the fastest growing category as drilling complexity increases. Extended reach wells, sour gas reservoirs, and offshore developments require enhanced metallurgy and proprietary connections. Premium grades reduce failure risks and non-productive time. Operators justify higher upfront costs through lifecycle savings. Suppliers differentiate through thread design, material science, and technical support. Premium grades are increasingly specified in tender documents for national oil companies.
By application, onshore drilling leads oil country tubular goods consumption driven by shale scale
Onshore applications dominate OCTG consumption due to extensive shale and conventional drilling activity. High well counts and shorter development cycles drive continuous demand. Onshore wells prioritize speed, cost control, and standardized designs. OCTG suppliers align production for rapid delivery and volume contracts. Frequent recompletions and workovers further support replacement demand. Onshore projects also favor localized supply chains, benefiting regional mills.
Offshore applications are experiencing exponential growth in the oil country tubular goods market as operators invest in fewer but higher value wells. Offshore wells demand premium casing, tubing, and connections due to extreme pressures and corrosive environments. Deepwater and ultra-deepwater projects drive specification upgrades. Offshore growth supports premium grades and seamless demand. This segment rewards innovation and long-term partnerships rather than spot sales. In August 2025, Nabors Industries signed a definitive agreement to sell its Quail Tools subsidiary to Superior Energy Services for a net consideration of USD 600 million.
North America secures the leading position of the market owing to its large-scale shale drilling
Dominance of the oil country tubular goods market in North America is majorly powered by large-scale shale drilling and continuous well replacement activity. The region prioritizes speed reliability and standardized designs which drives high-volume OCTG procurement. Operators favor suppliers capable of rapid delivery bundled threading inspection and logistics services. Local manufacturing capacity and stable service ecosystems further reinforce supplier dominance. Canada’s new tariff rate quota (TRQ) system, published in September 2025, further limits OCTG imports with small quarterly quotas and high surtaxes, tightening supply, raising landed costs and boosting domestic pricing power
Middle East and Africa emerges to be the fastest-growing regional oil country tubular goods market as national oil companies expand gas and offshore capacity. Long cycle developments prioritize well integrity and lifecycle cost reduction over short term savings. This drives strong demand for premium casing tubing and corrosion resistant solutions. Operators rely on strategic supplier partnerships rather than spot sourcing. Localization policies also influence purchasing decisions encouraging regional finishing and threading investments. Project pipelines emphasize deep sour reservoirs and extended production life. These factors support steady OCTG demand growth. Suppliers aligned with qualification programs and local content requirements gain sustained market access.
Leading oil country tubular goods market players are concentrating on premium connections digital inspection and metallurgical upgrades rather than focusing on cyclical rig counts. Opportunities are emerging in long-term supply contracts tied to complex wells where failure risk is high. Players investing in localized finishing threading and inspection are securing preferred vendor status with national oil companies.
Differentiation among oil country tubular good companies increasingly comes from proprietary thread designs, corrosion resistant alloys, and bundled technical services. The competitive landscape favors companies that can balance high volume API grades with selective premium offerings while aligning closely with operator drilling strategies and regulatory requirements. This environment rewards disciplined capital allocation, partnerships, innovation speed, and strong after-sales support across unconventional offshore and sour gas developments.
TMK Group was established in 2001 and is headquartered in Moscow, Russia. The company is a major supplier of seamless OCTG serving energy producers across Europe Middle East and Asia. TMK focuses on premium casing tubing and proprietary threaded connections designed for high pressure wells. The company supports customers with engineering services qualification programs and localized supply capabilities for complex drilling environments.
Founded in 1919 and headquartered in Tokyo, Japan, Sumitomo Corporation operates as a global trading and investment group with strong OCTG distribution and project capabilities. Sumitomo supplies premium and API grade tubular goods to offshore and gas developments. The company leverages long-term relationships with national oil companies to manage supply risk logistics and financing across complex energy projects.
Nippon Steel Corporation was established in 1970 and is headquartered in Tokyo, Japan. The company is a leading steel producer with advanced OCTG manufacturing capabilities. Nippon Steel focuses on high performance seamless pipes and premium grades for offshore and sour gas wells. It invests heavily in digital inspection metallurgy and quality traceability.
Iljin Steel Co., Ltd., founded in 1982 and headquartered in South Korea, specializes in seamless OCTG for onshore and offshore applications. Iljin Steel emphasizes precision rolling heat treatment and dimensional accuracy. It supplies casing and tubing to national oil companies and EPC contractors. The firm benefits from South Korea’s advanced manufacturing ecosystem and export focused industrial policies.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Other key players in the market include Tenaris S.A, U. S. Steel Tubular Products, Inc., Vallourec Group, Oil Country Tubular Limited, ArcelorMittal S.A., and JFE Steel Corporation, among others.
Unlock the latest insights with our oil country tubular goods market trends 2026 report. Discover regional growth patterns, consumer preferences, and key industry players. Stay ahead of competition with trusted data and expert analysis. Download your free sample report today and drive informed decisions in the market.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Get in touch with us for a customized solution tailored to your unique requirements and save upto 35%!
In 2025, the market reached an approximate value of USD 27.12 Billion.
The market is projected to grow at a CAGR of 6.80% between 2026 and 2035.
The market is estimated to witness a healthy growth in the forecast period of 2026-2035 to reach USD 52.36 Billion by 2035.
Manufacturers are investing in premium metallurgy expanding localized finishing integrating digital quality systems forming long term operator partnerships aligning portfolios with complex wells and improving service based differentiation across regions.
The key trends fuelling the growth of the market include increased focus of manufacturers on improving the operational efficiency of OCTG and integration of digital technologies.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant products available in the market are well casing, product tubing, and drill pipe, among others.
The key players in the market include TMK Group, Sumitomo Corporation, Nippon Steel Corporation, Iljin Steel Co., Ltd., Tenaris S.A, U. S. Steel Tubular Products, Inc., Vallourec Group, Oil Country Tubular Limited, ArcelorMittal S.A., and JFE Steel Corporation, among others.
Volatile drilling activity pricing pressure trade barriers qualification requirements and rising costs for premium metallurgy testing and localization investments continue to challenge OCTG manufacturers across global upstream supply chains today.
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product |
|
| Breakup by Manufacturing Process |
|
| Breakup by Grade |
|
| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
|
| Companies Covered |
|
Datasheet
One User
USD 2,499
USD 2,249
tax inclusive*
Single User License
One User
USD 3,999
USD 3,599
tax inclusive*
Five User License
Five User
USD 4,999
USD 4,249
tax inclusive*
Corporate License
Unlimited Users
USD 5,999
USD 5,099
tax inclusive*
*Please note that the prices mentioned below are starting prices for each bundle type. Kindly contact our team for further details.*
Flash Bundle
Small Business Bundle
Growth Bundle
Enterprise Bundle
*Please note that the prices mentioned below are starting prices for each bundle type. Kindly contact our team for further details.*
Flash Bundle
Number of Reports: 3
20%
tax inclusive*
Small Business Bundle
Number of Reports: 5
25%
tax inclusive*
Growth Bundle
Number of Reports: 8
30%
tax inclusive*
Enterprise Bundle
Number of Reports: 10
35%
tax inclusive*
How To Order
Select License Type
Choose the right license for your needs and access rights.
Click on ‘Buy Now’
Add the report to your cart with one click and proceed to register.
Select Mode of Payment
Choose a payment option for a secure checkout. You will be redirected accordingly.
Strategic Solutions for Informed Decision-Making
Gain insights to stay ahead and seize opportunities.
Get insights & trends for a competitive edge.
Track prices with detailed trend reports.
Analyse trade data for supply chain insights.
Leverage cost reports for smart savings
Enhance supply chain with partnerships.
Connect For More Information
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
Our expert team of analysts will offer full support and resolve any queries regarding the report, before and after the purchase.
We employ meticulous research methods, blending advanced analytics and expert insights to deliver accurate, actionable industry intelligence, staying ahead of competitors.
Our skilled analysts offer unparalleled competitive advantage with detailed insights on current and emerging markets, ensuring your strategic edge.
We offer an in-depth yet simplified presentation of industry insights and analysis to meet your specific requirements effectively.
Share