Global Oilfield Thread Protectors Market Analysis Report 2022-2027 - Increase in the Demand for the Sophisticated Drilling Equipment to Bolster Growth

DUBLIN, Feb. 9, 2023 /PRNewswire/ -- The "Oilfield Thread Protectors Market - Global Industry Size, Share, Trends, Opportunity and Forecast, 2017-2027: Segmented By Material Type (Rubber, Plastic, Metal), By Type (Pin Protectors, Box Protectors), By Design, By Location, By Protection Component, By Region" report has been added to  ResearchAndMarkets.com's offering.

Global oilfield thread protectors market is projected to register CAGR growth in the forecast years, 2023-2027 on the account of growth factors like increasing concerns toward oil spills in the environment.

Also, increase in the demand for the sophisticated drilling equipment is further driving the growth of the global oilfield thread protectors market in the upcoming five years.

Oilfield thread protectors capping like tools that are utilized for the protection of pipe threads of the oil rigs while transporting oil and gas. These tools are often made of heavy duty plastic, rubber, or metal depending on the area and type of pipelines, that require such protection at the joints.

Oilfield thread protectors are counterparts of drill pipe, tubing, and casing that helps saving the oil from spilling while transportation of the same. During the process of loading and unloading of oil into the carrier vessels for further transportation, pipelines from the rigs to the vessel are established, and while the pipes are joined together, oil spills may occur if proper precaution is not taken.

Demand For Safe Oil Transport Drives Market Growth

Oil spills are a major concern be it on shore or during offshore oil excavation process. The drilling equipment are designed and planted in very specific manner. Equipment like hole openers, mud racks etc. increase the sizes of the il rigs and thus the chances of oil spills through various parts of the rig and the complete machinery increases. Spilled oil may cause accidental falling of the personnel working on the drill floors and if spilled in the ocean water, causes death of marine life at large.

2010 Deepwater Horizon well blowout was the most disastrous and most affecting oil spill ever recorded in the history. Although in recent years globally three minor oil spills were recorded in the year 2020 that lost less than 700 metric tonnes of oil, still the concerns toward the environment demands for better safety equipment that support safer excavation and transportation drives the global oilfield thread protectors market in the upcoming five years.

Increased Oil Production Drives Market Growth

As the demand for the oil and gas along with other petroleum products increase, so does the production of the oil from various reserves worldwide and demands the oil rig safety equipment like oilfield thread protectors increases and supports the growth of the global oilfield thread protectors market in the next five years. Total oil production on a global level in the year 2020, was recorded to be 4165.1 million tonnes, out of which the United States accounted for 712.7 million tonnes of oil in 2020.

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global oilfield thread protectors market.

• Hunting Energy Services
• National Oilwell Varco
• M&P Flange & Pipe Protection Inc.
• Norkram Limited
• Tri-Star Protectors
• Caplugs
• Dongying Lake Petroleum Technology CO., Ltd.
• Venture Steels
• Thread Protectors, LLC
• Kannans Industrial Machinery Equipment LLC

Report Scope:

Oilfield Thread Protectors Market, By Material Type:

• Rubber
• Plastic
• Metal

Oilfield Thread Protectors Market, By Type:

• Pin Protectors
• Box Protectors

Oilfield Thread Protectors Market, By Design:

• Open End
• Closed End

Oilfield Thread Protectors Market, By Location:

• Offshore
• Onshore

Oilfield Thread Protectors Market, By Protection Component:

• Drill Pipe
• Drill Collar
• Tool Joint
• Casing
• Tubing
• Others

Oilfield Thread Protectors Market, By Region:

• North America
• United States
• Mexico
• Canada
• Europe
• France
• Germany
• United Kingdom
• Italy
• Spain
• Poland
• Denmark
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Australia
• Singapore
• Malaysia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE
• Iraq
• Turkey
• South America
• Brazil
• Argentina
• Colombia
• Peru
• Chile

For more information about this report visit https://www.researchandmarkets.com/r/rx2gkb-thread?w=5

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SOURCE Research and Markets