Global Drill Pipes Market
The GMI Research forecasts that the Drill Pipes Market is witnessing an upsurge in demand over the forecast period. This is mainly due to the constant expansion in oil production, and the extrication of water and other natural resources largely needs tools like a pipe.
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Introduction of the Drill Pipes Market
Drill pipe is hollow, thin-walled, steel or aluminium alloy piping used during drilling rigs. It allows drilling fluid to be pumped down the hole through the bit and back up the annulus. They are manufactured by several processes such as welding, joint, extrusion together massively applicable in drilling oil field.
Key Players of the Global Drill Pipes Market:
- RK Pipe LLC.
- Inter Drill Asia Ltd.
- Hunting PLC
- Tenaris Company
- International Drilling Services Ltd. (IDS)
- Texas Steel Conversion Inc. (TSC)
- Vallourec
- Schoeller-Bleckmann Oilfield Equipment AG
- Inter Drill Asia Ltd.
- National Oilwell Varco
- American Oilfield Tools, Inc.
Drill Pipes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
The augmenting demand for the expedition of oil and gas activities and the extraction of water and other natural resources, which demands a wide variety of important tools and equipment like pipes and collars, are the prominent factors driving the market growth. These pipes are one of the major instruments in drilling projects. The Alaska government authority, in Feb 2019, invested USD 45-65 Billion for the leading natural gas developments Mega-project in the United States. The project has an 800-mile pipeline from the full LNG liquefaction plant, storage and shipping terminal, and a gas treatment plant in the Alaska United States. Moreover, other factors like transmission drilling torque to the total length of pipe, resilience to pressure changes, and support the entire weight of deeper drilling components. Major players are involved in increasing oil production, and growing number of gas and oil inspection are projected to promote the market share. For example, Shell, in May 2019, initiated the production of deep-water oil and gas development at Appomattox, Virginia, the United States, at Shell's largest floating platform.
Additionally, the accelerating demand in water exploration activities owing to the rising shortage of water requires these pipes. For example, more than 2 billion people live in countries with high water stress areas, which is bolstering the market demand. However, the volatility in prices of raw materials for manufacturing of drill pipes and the risk of corrosion and stress problems in the oil and gas field will restrain the market growth.
Grade Segment Drivers
Based on the grade, API is contemplated to dominate the market primarily because of the acceptance offered for standard size specifications with various consented pipe grades which include E-75, G-105, and S-135 across several countries.
Application Segment Drivers
Based on the application, onshore is predicted to expand at a higher CAGR over the forecast period. This is primarily attributed to their ability to perform drilling operations under the earth's surface like water and oil & gas activities and increasing initiatives by the government. In April 2021, Biden emancipated infrastructure plan with an investment of USD 111 Billion in water infrastructure, resulting in raising the market growth.
Regional Drivers
Based on the regional coverage, North America is forecasted to witness a significant demand in the near future due to the aggravating production of oil and gas led by the amplification in the automobile and transportation demand. The US Energy Information Administration stated that in 2019 the average oil production touched 12.2 Million b/d in the United States whereas natural gas production counted 116.8 Bcf/d.
Drill Pipes Market Segmentation:
Segmentation by Grade
- Premium Grade
- API Grade
Segmentation by Application
- Offshore
- Onshore
Segmentation by Region:
- North America
- United States of America
- Canada
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)
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Global Drill Pipes MarketThe GMI Research forecasts that the Drill Pipes Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to the constant expansion in oil production, and the extrication of water and other natural resources largely needs tools like a pipe.Introduction of the Drill Pipes MarketDrill pipe is hollow, thin-walled, steel or aluminium alloy piping used during drilling rigs.
They are manufactured by several processes such as welding, joint, extrusion together massively applicable in drilling oil field.Key Players of the Global Drill Pipes Market:RK Pipe LLC.Inter Drill Asia Ltd.Hunting PLCTenaris CompanyInternational Drilling Services Ltd. (IDS)Texas Steel Conversion Inc. (TSC)VallourecSchoeller-Bleckmann Oilfield Equipment AGInter Drill Asia Ltd.National Oilwell VarcoAmerican Oilfield Tools, Inc.Drill Pipes Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The augmenting demand for the expedition of oil and gas activities and the extraction of water and other natural resources, which demands a wide variety of important tools and equipment like pipes and collars, are the prominent factors driving the market growth.
The project has an 800-mile pipeline from the full LNG liquefaction plant, storage and shipping terminal, and a gas treatment plant in the Alaska United States.
Additionally, the accelerating demand in water exploration activities owing to the rising shortage of water requires these pipes.
However, the volatility in prices of raw materials for manufacturing of drill pipes and the risk of corrosion and stress problems in the oil and gas field will restrain the market growth.Grade Segment DriversBased on the grade, API is contemplated to dominate the market primarily because of the acceptance offered for standard size specifications with various consented pipe grades which include E-75, G-105, and S-135 across several countries.Application Segment DriversBased on the application, onshore is predicted to expand at a higher CAGR over the forecast period.
Drill Pipes Market is projected to reach USD 2.44 billion by 2028, growing at a CAGR of 1.5% during the forecast period.Drill pipes are steel or aluminum tubulars fitted with threaded ends known tool joints, that are normally used in tension in the top part of the drill string to pump fluid and transmit torque to the bit.
Using friction welding, tool joints are connected to the drill pipe tube to create a high integrity solid state welded link between the tool joint and the upset drill pipe.Rising investments toward technological enhancement with an aim to improve efficiency across the complete spectrum of E technology will stimulate the drill pipe market growth.
A single length drill pipe consists of a hollow tube usually long in height with adequate wall thickness along with tool joint connections at the two ends.
Cost-effectiveness, low temperature toughness and high torque resistance to withstand the harsh environmental conditions, are some of the underlying parameters which will propel the product adoption.
Premium drill pipe market will also witness growth on account of its suitability for deep-water and ultra-deep-water exploration along with increasing offshore production.Companies Covered: Major Companies profiled in the report which are key players in the global drill pipes market.
Drill Pipe International LLC, Hilong Group, National Oilwell Varco, Tenaris S.A., Vallourec S.A., TMK Group, Oil Country Tubular Limited, Tejas Tubular Products Inc., Texas Steel Conversion Inc., DP Master Manufacturing Pvt Ltd., Jiangyin Long Bright Drill Pipe Manufacture Co. Ltd., RK Pipe LLC, Superior Drill Pipe Manufacturing Inc., Tenaris S.A., TMK Group, TPS-TechnitubeRohrenwerke, and Vallourec S.A.Based on the application, the drill pipes market is segmented into offshore and onshore.
29 Oct 2018 – This report focuses on top manufacturers in Global Market. The Global Horizontal Directional Drilling Market is likely to grow at a significant CAGR during the forecast period.
horizontal directional drilling technology brings out the drill technique that enables more control and precision that lowers environmental impact resulting into less traffic. However, lack of skilled personnel and contractors anticipated in creating challenges for the market growth during the forecast period.
Global Alginate MarketThe GMI Research forecasts that the Alginate Market is witnessing an upsurge in demand over the forecast period.
This is mainly due to their growing demand in the food applications as a thickening agent, emulsifier, and gelling agent.Request a free sample of this reportIntroduction of the Alginate MarketAlginate is a biomaterial found across numerous applications in biomedical science and engineering due to its favorable properties, which include biocompatibility and ease of gelation.
These gels retain structural similarity to the extracellular matrices in tissues and can be manipulated to play several critical roles.Key Players of the Global Alginate Market:AlgaiaDuPont de Nemours, Inc.IRO Alginate Industry Co., Ltd.AlgeaKIMICAShandong Jiejing Group CorporationCeamsaSNAP Natural & Alginate Product Pvt.
Ltd.Marine Biopolymers Limited (MBL)Ingredients Solutions, Inc.Alginate Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)The prominent drivers responsible for the growth of the global Alginate Market include the favorable initiatives taken by leading players and the increasing inclination of individuals towards sweetened fast-food products composed of alginate.
For example, French biomarine group Algaia, in 2018, officially declared the amplification of their production capacity with investments in marine ingredients and seaweed extracts, as it offers the flexibility of seaweed which assisted the company in terms of income.
However, as per the Alginate market research, high- cost cultivation of brown seaweeds is curbing the market growth.Product Segment DriversBased on the product, propylene glycol is expected to witness higher growth in the market over the forecast period.
