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Article Title: Oil, Natural Gas Pipe Demand to Grow 11% Annually Through 2022
Publication: Manufacturing Engineering, 1/4/2019
Freedonia Study: Pipe: Products & Markets (3675)
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Demand for oil and natural gas pipe is forecast to grow 11 percent annually to $15.4 billion in 2022, a strong recovery from severe declines seen during the 2012-2017 period. Growth will be driven by an expected increase in drilling activity as oil prices continue to recover from 2016 lows. Increased well completion in key fields like the Permian Basin is supporting gains for oil country tubular goods (OCTG), while bottlenecks in such productive areas are encouraging pipeline construction.
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