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Casing and Tubing Market Size, Share and Forecast 2026-2036

The global casing and tubing market is worth USD 43.9 bn in 2026 and is forecast to reach USD 66.9 bn by 2036, growing at a 4.3% CAGR. United States is the largest country market and Casing is the largest by product segment.

USD 43.9 bnMarket size 2026
USD 66.9 bnForecast 2036
4.3%CAGR 2026-2036
United StatesLargest country

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5 segmentation views25 countries2026 to 2036 yearly forecast

Market overview

The global casing and tubing market is worth USD 43.9 bn in 2026 and is forecast to reach USD 66.9 bn by 2036, growing at a 4.3% CAGR. United States is the largest country market and Casing is the largest by product segment.

ScopeSeamless and welded steel casing and tubing (oil country tubular goods) used to line and produce oil and gas wells, including carbon, alloy and corrosion-resistant grades with premium connections.
IndustryOil and Gas
Value 2025USD 42.0 bn
Value 2026USD 43.9 bn
Value 2036USD 66.9 bn
CAGR 2026-20364.3%
Volume 202614,929 thousand tonnes
Volume 203619,598 thousand tonnes
Average price 2026USD 2,940 per tonne
Report priceStarts from USD 1,999
PublishedNovember 2026

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Casing and Tubing market size and forecast, 2026-2036

Exhibit 1The global casing and tubing market is forecast to grow from USD 43.9 bn in 2026 to USD 66.9 bn by 2036, a rise of 52%Global market value in USD: 2025 base year, 2026 estimate and forecast to 2036. CAGR 2026 to 2036: 4.3%
Casing and Tubing market value, 2025 to 2036Market value by year. 2025: USD 42.0 bn; 2026: USD 43.9 bn; 2027: USD 45.8 bn; 2028: USD 47.7 bn; 2029: USD 49.8 bn; 2030: USD 51.9 bn; 2031: USD 54.2 bn; 2032: USD 56.5 bn; 2033: USD 58.9 bn; 2034: USD 61.5 bn; 2035: USD 64.1 bn; 2036: USD 66.9 bn. Compound annual growth rate 2026 to 2036: 4.3%.202543.9 bn202654.2 bn203166.9 bn20364.3% CAGR

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

YearMarket value
2026USD 43.9 bn
2027USD 45.8 bn
2028USD 47.7 bn
2029USD 49.8 bn
2030USD 51.9 bn
2031USD 54.2 bn
2032USD 56.5 bn
2033USD 58.9 bn
2034USD 61.5 bn
2035USD 64.1 bn
2036USD 66.9 bn

Casing and Tubing market segmentation

By product

Exhibit 2Casing is the largest segment by product, with 52.0% of 2026 revenueEstimated share of 2026 global revenue, by product
Casing and Tubing market share by product, 2026Share of 2026 revenue by product. Casing: 52.0%; Tubing: 34.0%; Premium connections and accessories: 14.0%.Casing52.0%Tubing34.0%Premium connections and accessories14.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Casing52.0%49.3%USD 22.8 bn3.8%
Tubing34.0%33.8%USD 14.9 bn4.2%
Premium connections and accessories14.0%16.8%USD 6.1 bn6.2%

By material

Exhibit 3Carbon steel adds the most revenue by material, growing from USD 26.3 bn in 2026 to USD 36.8 bn by 2036Estimated revenue in USD by material, 2026 and 2036 forecast
Casing and Tubing market by material, 2026 and 2036Revenue by material in 2026 and 2036. Carbon steel: USD 26.3 bn in 2026, USD 36.8 bn in 2036, change +40%; Alloy steel: USD 12.3 bn in 2026, USD 19.8 bn in 2036, change +61%; Corrosion-resistant alloys: USD 5.3 bn in 2026, USD 10.3 bn in 2036, change +95%.20262036 forecastChangeCarbon steel+40%26.3 bn36.8 bnAlloy steel+61%12.3 bn19.8 bnCorrosion-resistant alloys+95%5.3 bn10.3 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Carbon steel60.0%55.0%USD 26.3 bn3.4%
Alloy steel28.0%29.6%USD 12.3 bn4.9%
Corrosion-resistant alloys12.0%15.3%USD 5.3 bn6.9%

By process

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Seamless60.0%59.3%USD 26.3 bn4.2%
Welded (ERW)24.0%23.0%USD 10.5 bn3.9%
Premium threaded seamless16.0%17.7%USD 7.0 bn5.4%

By API grade

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
J55 and K5528.0%24.0%USD 12.3 bn2.7%
N80 and L8034.0%32.0%USD 14.9 bn3.7%
P110 and Q12530.0%33.0%USD 13.2 bn5.3%
Proprietary grades8.0%11.0%USD 3.5 bn7.7%

By well type

SegmentShare 2026Share 2036Value 2026CAGR 2026-36
Conventional onshore38.0%34.0%USD 16.7 bn3.1%
Unconventional36.0%37.0%USD 15.8 bn4.6%
Offshore26.0%29.0%USD 11.4 bn5.5%

Top 25 countries for casing and tubing by revenue

Countries are ranked by revenue earned from sales in the country, not by where the product is made. The ten largest hold 86.0% of 2026 revenue and the 25 countries below together hold 95.8%.

Exhibit 4United States is the largest country market at USD 14.9 bn in 2026, and the three largest countries hold 56.0% of global revenueEstimated 2026 revenue in USD and share of the global market, ten largest countries
Casing and Tubing market, ten largest countries in 2026Ten largest countries by 2026 revenue. United States: USD 14.9 bn, 34.0%; China: USD 6.1 bn, 14.0%; Saudi Arabia: USD 3.5 bn, 8.0%; Russia: USD 3.1 bn, 7.0%; Canada: USD 2.2 bn, 5.0%; United Arab Emirates: USD 2.2 bn, 5.0%; India: USD 1.5 bn, 3.5%; Brazil: USD 1.5 bn, 3.5%; Kuwait: USD 1.3 bn, 3.0%; Argentina: USD 1.3 bn, 3.0%.United States14.9 bn 34.0%China6.1 bn 14.0%Saudi Arabia3.5 bn 8.0%Russia3.1 bn 7.0%Canada2.2 bn 5.0%United Arab Emirates2.2 bn 5.0%India1.5 bn 3.5%Brazil1.5 bn 3.5%Kuwait1.3 bn 3.0%Argentina1.3 bn 3.0%

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

#CountryValue 2026Share 2026Value 2036CAGR 2026-36
1United StatesUSD 14.9 bn34.0%USD 22.5 bn4.2%
2ChinaUSD 6.1 bn14.0%USD 8.4 bn3.2%
3Saudi ArabiaUSD 3.5 bn8.0%USD 5.5 bn4.7%
4RussiaUSD 3.1 bn7.0%USD 4.0 bn2.7%
5CanadaUSD 2.2 bn5.0%USD 3.1 bn3.7%
6United Arab EmiratesUSD 2.2 bn5.0%USD 3.6 bn5.1%
7IndiaUSD 1.5 bn3.5%USD 2.8 bn6.2%
8BrazilUSD 1.5 bn3.5%USD 2.8 bn6.2%
9KuwaitUSD 1.3 bn3.0%USD 2.1 bn4.6%
10ArgentinaUSD 1.3 bn3.0%USD 2.5 bn6.8%
11OmanUSD 619 mn1.4%USD 983 mn4.7%
12MexicoUSD 456 mn1.0%USD 715 mn4.6%
13NorwayUSD 377 mn0.9%USD 528 mn3.4%
14IraqUSD 334 mn0.8%USD 528 mn4.7%
15AlgeriaUSD 303 mn0.7%USD 475 mn4.6%
16IndonesiaUSD 277 mn0.6%USD 441 mn4.8%
17EgyptUSD 259 mn0.6%USD 408 mn4.7%
18NigeriaUSD 241 mn0.6%USD 388 mn4.9%
19United KingdomUSD 233 mn0.5%USD 321 mn3.3%
20KazakhstanUSD 219 mn0.5%USD 348 mn4.7%
21QatarUSD 211 mn0.5%USD 334 mn4.7%
22ColombiaUSD 202 mn0.5%USD 321 mn4.7%
23AustraliaUSD 198 mn0.5%USD 274 mn3.3%
24MalaysiaUSD 189 mn0.4%USD 301 mn4.8%
25AngolaUSD 184 mn0.4%USD 288 mn4.5%
Rest of worldUSD 1.8 bn4.2%USD 2.8 bn4.2%
Exhibit 5United States and China account for 43% of the USD 23.0 bn the market is forecast to add by 2036Forecast revenue added between 2026 and 2036 by country, in USD
Casing and Tubing market, where the growth to 2036 comes fromRevenue added between 2026 and 2036. Market value 2026: USD 43.9 bn. United States: +USD 7.5 bn; China: +USD 2.3 bn; Saudi Arabia: +USD 2.0 bn; United Arab Emirates: +USD 1.4 bn; India: +USD 1.3 bn; 20 other countries: +USD 7.5 bn; Rest of world: +USD 932 mn. Market value 2036: USD 66.9 bn.Market value 202643.9 bnUnited States+7.5 bnChina+2.3 bnSaudi Arabia+2.0 bnUnited Arab Emirates+1.4 bnIndia+1.3 bn20 other countries+7.5 bnRest of world+932 mnMarket value 203666.9 bn

Source: Compare Market Research analysis.
© 2026 Compare Market Research. All rights reserved.

Competitive landscape

Group 1: Global leaders

  • Tenaris
  • Vallourec
  • Nippon Steel
  • JFE Steel
  • TMK
  • TPCO

Group 2: Regional and specialist players

  • Baosteel
  • United States Steel Tubular Products
  • NEXTEEL
  • Hunting
  • Tubos Reunidos
  • Hengyang Valin Steel Tube
  • SeAH Steel
  • Welspun Corp
  • voestalpine Tubulars

Group 3: Emerging and niche players

  • Tubacex
  • Tejas Tubular Products
  • ChelPipe

Research methodology

Every figure on this page comes from the research framework that we apply to all of the markets we cover. The 2025 base for the casing and tubing market is built from the volume sold and the price that buyers pay, and is cross-checked against the size of the wider industry the market belongs to. Where a market can be sized in more than one way, the routes are compared before a figure is set.

The forecast runs year by year from the 2025 base to 2036. Growth in each year reflects demand from the industries that buy the product, adoption of new technology, pricing, regulation and replacement cycles. Volume and price are modelled together, so revenue in each year equals volume multiplied by average price. The 2026 to 2036 compound annual growth rate of 4.3% is calculated from the resulting values.

The market is divided by product, by material, by process, by api grade, by well type. The 25 largest countries are ranked by revenue earned from sales to buyers in each country, not by where the product is made. Segment values and country values add up to the market total in every year, and every report is checked for consistency before it is published.

Companies are placed in three groups: global leaders, regional and specialist players, and emerging and niche players. The groups describe how companies compete in the market. They are not a ranking and they are not market shares.

Our analysts also carry out primary research. Customized reports add interviews with key opinion leaders, such as senior executives, technical specialists and buyers, to test the assumptions behind the numbers for the question being asked.

Read the full research methodology

Frequently asked questions

How big is the casing and tubing market?

The global casing and tubing market is estimated at USD 42.0 bn in 2025 and USD 43.9 bn in 2026.

How fast will the casing and tubing market grow?

It is forecast to reach USD 66.9 bn by 2036, a compound annual growth rate of 4.3% from 2026, an increase of USD 23.0 bn.

Which country is the largest market for casing and tubing?

United States is the largest market by revenue at USD 14.9 bn in 2026, 34.0% of the global total. The three largest countries together hold 56.0%.

Which country is growing fastest?

Among the ten largest markets, Argentina is growing fastest at 6.8% a year from 2026 to 2036.

Which casing and tubing segment is largest?

In the by product split, Casing is the largest segment with 52.0% of 2026 revenue.

Who are the leading casing and tubing companies?

Global leaders include Tenaris, Vallourec, Nippon Steel, JFE Steel.

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