In partnership with Fastmarkets, Westwood’s latest update of The Future of Corrosion Resistant Alloys (CRA) Service has been released at a time of elevated tendering activity within the sector, despite continued uncertainty in the broader oil markets. A strong backlog of potential projects, investment in new manufacturing capacity and renewed pricing pressure in key grades factor into the evolution of the industry against a backdrop of increased demand, both for CRA OCTG and CRA line pipe.
In partnership with Fastmarkets, Westwood’s latest update for the Corrosion Resistant Alloys (CRA) Service provides unique insight into the CRA sector within both OCTG and line pipe markets. While the global oilfield equipment sector continues a gradual recovery, increased drilling activity in sour gas fields and environments with higher levels of CO2 and H2S is supporting heightened growth in both the CRA OCTG and CRA clad & lined pipe sectors.
On the OCTG side, austenitic grades look placed to take further market share despite pricing for Alloy 28 and other Nickel grades rising. In the line pipe segment, new mechanically lined pipe orders in Brazil and Norway contribute to an improved outlook, while the clad sector remains robust. Recent tender information indicates that CRA pipe made using the weld overlay manufacturing method contributes material tonnage, which has now been quantified on a global basis. The Middle East is also expected to remain the largest consuming region worldwide in this market, driven by expanding investment in gas drilling, LNG developments, sulphur exports from key regional producers, and multiple high volume projects.
The Corrosion Resistant Alloys (CRA) Service supports a five-year strategic outlook, and includes comprehensive market demand, supply and pricing analysis of the global corrosion resistant alloys markets within oil & gas tubulars.
Total CRA Demand Outlook: OCTG and Line Pipe, Expenditure & Tonnage (May Release)
Source: Westwood Global Energy, Fastmarkets
Users of the CRA Report can effectively plan strategies, monitor market trends, support business cases and mitigate risk via a comprehensive, five-year demand outlook, also exploring supply and pricing trends within the global corrosion resistant alloys market. Users also benefit from a list of upcoming oil and gas projects as well as prospects along with estimates of material requirements.
Content of this unique report, includes:
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