Alloying Steel with Diverse Elements for Resistance against Extreme Conditions
Oil and gas exploration activities are performed within adverse settings, driving the requirement of stainless steel oil and gas fittings owing to high CRA (Corrosion Resistance Alloys) specifications. Stainless steel oil and gas fittings counter the impacts of carbon dioxide and hydrogen sulfide, as well as high temperatures. Further, inclusion of titanium enhances the resistance aspect of stainless steel oil and gas fittings against seawater.
Rich content of chromium and molybdenum content in stainless steel oil and gas fittings ensure high thermal conductivity, and low thermal expansion, while the presence of nickel assures high resistance against corrosion cracking. In addition, the austenitic-ferritic chemical composition of steel alloy oil and gas fittings provides exceptional efficacy under low cryogenic and high temperature – up to 1000 degrees Celsius.
Frequently Asked Questions About oil and gas fittings market
What are the key factors shaping the oil and gas fittings market?
An upsurge in the number of new onshore wells and demand for replacement of aged fittings and flanges are the factors that are impacting the growth of the oil and gas fittings market. In addition, a growing number of drilling wells are increasing the sales and installation of pipes, valves, and fittings (PVF), which in turn, are propelling the market growth.
What impact will alloy steel have on the market growth?
Exploration activities for oil & gas are performed with adverse settings, driving the requirement of stainless steel fittings for their high corrosion resistance alloys (CRAs) attributes. CRAs are best suited to fulfill various functional requirements in oil & gas exploration and production.
What are the factors driving the demand for tees in the global market?
Demand for tees continues to surge, as it embraces a restriction bar welded internally to avoid entry of scrappers. The major purpose of tees is to make a 90-degree branch that enables directional change and size reduction of pipe in the piping system.
Which region is expected to hold the highest revenue share in the oil and gas fittings market?
North America and East Asia will continue to hold major revenue shares in the global oil and gas fittings market. This growth is attributed to the high applicability in onshore activities. Furthermore, the rapid growth of onshore drilling activities and a number of oil and gas pipeline projects in the U.S., Canada, and China will contribute to the market growth.
What strategies are the market players implementing to capitalize on growing demand for oil and gas fittings?
Most of the exploration & production companies are expanding their product portfolio by constructing new pipeline, plants, and production facilities. Adoption of online sales platform has emerged to be a supportive factor for the growing sales of oil and gas fittings.
Oil and Gas Fittings – Altering Dimensions to Tackle Pressure Drops
Long radius oil and gas fittings are gaining high traction in oil and gas platforms following lower pressure loss during directional change of flow, along with smooth pigging (maintenance). Oil and gas fittings – tees - encompass a restriction bar welded internally to avoid entrance of scrappers. The bars are welded in a manner to enable hurdle-free transit of the scrapper from the run pipe.
The 90 degree-reducing oil and gas fittings enable directional change as well as size reduction of pipe within the piping system, eliminating one pipe fitting, and decreasing welding process by almost a third. The progressive decline in diameter throughout the arc of the reducing oil and gas fittings provides lesser resistance to flow, as well as reverses the impact of stream turbulence and potential intrinsic corrosion. As a consequence, the reducing oil and gas fittings avoid significant pressure lapses during distribution.
Soaring Onshore Exploration Projects in North America and East Asia Promises Sales Opportunities
North America and East Asia are set to remain the frontrunners in the global oil and gas fittings market primarily due to increasing onshore exploration activities. The US is substituting the legacy wrought iron-based tees and flanges with durable versions, including carbon steel, and alloy steel at a sweeping rate. In addition, the country has kick-started projects of natural gas exploration and transportation pipelines – more than 100.
Furthermore, increasing intra-country and inter-country onshore pipeline projects in the US, Canada, and China to satiate the growing demand for oil and gas are capturing the attention of oil and gas fittings manufacturers.
Application-centric Requirement – Key Tenet to Define Stakeholders’ Tactics
Oil and gas fittings require regular maintenance due to prolonged exposure to high-pressure distribution of the same. As such, market players, including Anvil International, and Probe Oil Tools, are entering into agreements in a bid to receive maintenance and replacement services for valves, and pipelines in oil and gas applications for leakage prevention, and corrosion.
Conventional rubber absorbs oil and swells up in size, resulting in leaks, thereby influencing market forces to focus on manufacturing nitrile rubber gasket for ductile steel applications suitable for natural gas, petroleum, and aromatic fuels. Realizing consumers’ reliance on internet for purchasing products owing to competitive prices, and fast-paced lifestyles, market players are distributing oil and gas fittings via online platforms. Furthermore, Market leaders and followers are targeting countries – the US, Russia, and Saudi Arab – citing escalating demands for oil and gas.
Surging demand for tees
Flanges to pick pace
Carbon steel to witness high traction
Moderate demand for stainless steel
Downstream remains highly preferred
Growing adoption of upstream
High applicability in onshore
Use in offshore sluggish
How Growth will Unfold
Upswing in transcontinental pipeline projects in Middle East, and ASEAN, as well as steady growth in new onshore wells across the globe is set to drive the demand for oil and gas fittings. Countries, including Russia, China, and Argentina, are leveraging hydraulic fracturing to boost the production of natural gas, which will keep the manufacturers of PVF (Pipes, Valves and Fittings) products intrigued. Furthermore, developing countries – India, Brazil, and Nigeria – are observing uptick in demand for oil and gas, thereby propelling the growth of oil and gas fittings market.
On the other hand, trade disputes between the US and China resulting in hiked tariffs for steel and aluminum – key component in oil and gas fittings - tends to remain the weak spot in the progress of oil and gas fittings market.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Oil and Gas Fittings Market Analysis 2019-2029
A recent market study published by FMI on the oil and gas fittings market includes the global industry analysis 2014-2018 & opportunity assessment 2019-2029, and delivers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical as well as current growth parameters of the oil and gas fittings market, the growth prospects of the market are obtained with maximum precision.
Oil And Gas Fittings Market Taxonomy
The global oil and gas fittings market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.
By Working Pressure
- Less than 2,000 psi
- 2,000 - 4,000 psi
- 4,000 to 6,000 psi
- 6,000 to 10,000 psi
- 10,000 to 15,000 psi
- Above 15,000 psi
By Product Type
- Studded Tees
- Flow Tees
- Weld Neck
- Bottom Hole Test Adapter
- Double Studded Adapter
- Male Pins
- Studded Crosses
By Material Type
- Carbon Steel
- Stainless Steel
- Alloy Steel
- North America
- Latin America
- East Asia
- South Asia
- Middle East and Africa
The report initiates with the executive summary of the oil and gas fittings market, which includes a summary of the key findings and statistics, along with demand & supply-side trends pertaining to the oil and gas fittings market.
In this chapter, readers can find the definition and a detailed taxonomy of the oil and gas fittings market, which will help them understand the basic information about the oil and gas fittings market. Along with this, comprehensive information about the oil and gas fittings and its properties are provided in this section.
The oil and gas fittings market report provides key market trends that are expected to significantly impact the market growth during the forecast period.
This section includes the factors that have emerged as key successful factors and strategies adopted by key market participants.
This section explains the global market value analysis and forecast for the oil and gas fittings market in the forecast period 2019-2029. This chapter includes a detailed analysis of the historical oil and gas fittings market, along with an opportunity analysis of the future. Readers can also find the absolute $ opportunity for the current year (2019), and an incremental $ opportunity for the forecast period (2019–2029).
This chapter explains the key macro-economic factors that are expected to influence the growth of the oil and gas fittings market during the forecast period. Along with the macroeconomic factors, this section also highlights the value chain, supply chain, forecast factors, and value chain analysis for the oil and gas fittings market. Moreover, in-depth information about the market dynamics and their impact analysis on the market have been provided in the section.
The market is segmented into less than 2,000 psi, 2,000 - 4,000 psi, 4,000 to 6,000 psi, 6,000 to 10,000 psi, 10,000 to 15,000 psi, and above 15,000 psi.
The market is segmented into tees (studded tees & flow tees), flanges (blind/test, companion and weld neck), adapters (bottom hole test adapter and double studded adapter), male pins, and studded crosses.
The market is segmented based on the material type and has been classified into carbon steel, stainless steel, alloy steel, fiberglass, composite, and others.
The market is segmented based on the application and has been classified into onshore and offshore.
The market is segmented based on the operation and classified into upstream, midstream, and downstream.
This chapter explains how the oil and gas fittings market will grow across various geographic regions, such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa (MEA).
This chapter includes a detailed analysis of the growth of the North America oil and gas fittings market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis and market growth.
This chapter provides the growth scenario of the oil and gas fittings market in Latin American countries such as Brazil, Mexico, and the Rest of Latin America along with targeted segments.
Important growth prospects of the oil and gas fittings market based on its operators and end users in several countries such as Germany, Italy, the U.K., France, Spain, Russia, Nordic Countries, and the Rest of Europe are included in this chapter.
In this chapter China, Japan, and South Korea are the prominent countries in the East Asia region that are the prime subjects of assessment to obtain the growth prospects of the East Asia oil and gas fittings market.
This chapter highlights the growth of the oil and gas fittings market in South Asia by focusing on India, Indonesia, Thailand, Malaysia, Singapore and the Rest of South Asia.
This chapter highlights the growth of the oil and gas fittings market in Oceania by focusing on Australia and New Zealand.
This chapter provides information about how the oil and gas fittings market will grow in major countries in the MEA region, such as GCC, North Africa, Southern Africa, and the Rest of MEA, during the forecast period of 2019-2029.
In this chapter, readers can find detailed information about the tier analysis and market concentration of key players in the oil and gas fittings market.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the oil and gas fittings market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments.
This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the oil and gas fittings market report.
This chapter help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the oil and gas fittings market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Industry Associations
- International Trade Association
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits