This is one of a series of articles that discuss several economic developments in the tube and pipe industry. The corona pandemic still has a firm grip on most parts of
This is one of a series of articles that discuss several economic developments in the tube and pipe industry.
The corona pandemic still has a firm grip on most parts of the world. In consequence many countries have limited substantial human rights for the second time this year, rights such as the freedom of movement as well as the freedom of property and the freedom of practicing an occupation. Many countries have decided, for the second time this year, to lock down major types of public, industrial and private activities to protect human lives.
This article will not discuss the sad and disastrous consequences of the pandemic for mankind (as of November 27th, 2020, worldwide about 61 million persons in 185 countries are known to have been infected by Covid-19 and about 1.43 million persons have died from the disease).
Here, we look at the significant impact on the tube and pipe industry. The industry must take substantial strategic countermeasures to avoid severe consequences.
The consumption of energy and most industrial goods has fallen apart, and major supply and service chains are not working any more. Travelling restrictions make customer contacts and site works even more difficult. Web-based virtual meetings can only partially replace the site presence/work.
By far the largest market segment for tubes and pipes is the OCTG (Oil Country Tubular Goods) market. With a share of the world tube and pipe market of about 51%, it is largely dependent on the oil and gas prices, which can still be seen as the blood line of industrialisation.
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