Nigeria Oilfield Chemicals Market (2023-2029) | Trends, Analysis, Forecast, COVID-19 IMPACT, Size, Growth, Share, Industry, Value, Revenue & Companies
Market Forecast By Application (Production, Drilling, Stimulation, Others), By Chemical Types (Demulsifiers, Inhibitors and Scavengers, Surfactants, Biocides, Polymers, Base Oil, API Grade Barite, Calcium Carbonate, Others) and Competitive LAndscape
| Product Code: ETC4624273 | Publication Date: Oct 2023 | Updated Date: Sep 2025 | Product Type: Report | |
| Publisher: 6Wresearch | No. of Pages: 65 | No. of Figures: 10 | No. of Tables: 5 | |
Nigeria Oilfield Chemicals Market Synopsis
Nigeria Oilfield Chemicals market has shown moderate growth during the pre-covid years owing to increased revenue from the oil and gas sector as total crude oil output in 2019 was 735.244 mmbbls (million barrels of oil or natural gas liquids), a 4.87% increase from 701.101mmbbls in 2018. In 2020 oilfield chemical market was negatively impacted by COVID19 pandemic as a result of the complete lockdown bought in force by the Government to prevent the spread of coronavirus which disrupted the supply chain, manufacturing processes and put a halt to all the developmental activities across all the sectors. Further the market owing to the economic crises in Nigeria with rising inflation and oil theft, showed slow growth in 2021. However, with resumption of all developmental activities and with Nigerian government budget for 2022, which provided an increase of 25% from the previous premised on a crude oil production level and accelerate further development in oil and gas sector.
According to 6Wresearch, Nigeria Oilfield Chemicals Market is projected to grow at a CAGR of 5.3% during 2023-2029, owing to growth in crude oil production and rising development of new oilfields would further propel the market for oilfield chemicals in Nigeria such as Nigeria's new deepwater projects during the period 2023-2025 is likely to add almost 2.3 billion barrels to the country's current oil reserves further contributing towards market growth. Additionally, 25 planned upstream oil and gas projects, and government support to boost the Nigeria's oil output and committed $13.5bn investments in the short term is expected to drive robust demand for Nigeria Oilfield Chemicals Market in the forecast period.
Market by Application
By Applications, Production segment dominated revenue in 2022, driven by the advantages to improve production maintenance & recovery from reserves. Additionally, with increasing crude oil production to 2.1 million barrels per day by December 2024 and extraction of oils from technologically challenging hydrocarbons and necessity extraction boosting the production chemicals market in the coming years followed by drilling chemicals.
Market by Chemical Types
In 2022, Demulsifiers acquired the maximum revenue share followed by inhibitors and scavengers on the back of increasing use of emulsifiers, inhibitors, and scavengers, as massive amounts of fluids, including crude oil, natural gas, and water, are generated once a well is dug and placed into production and production fluids such as Demulsifiers, inhibitors must be treated and managed to maintain production efficiency and meet regulatory standards. Moreover, with rising demand for petroleum-based fuels from the transportation industry and production opportunities such as international oil firms had committed $13.5bn investments to raise oil production are expected to boost the demand for chemicals in the forecast periods.
Key Attractiveness of the Report
- COVID-19 Impact on the Market.
- 11 Years Market Numbers.
- Historical Data Starting from 2019 to 2022.
- Base Year: 2022
- Forecast Data until 2029.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Nigeria Oilfield Chemicals Market Overview
- Nigeria Oilfield Chemicals Market Outlook
- Nigeria Oilfield Chemicals Market Forecast
- Historical Data and Forecast of Nigeria Oilfield Chemicals Market Revenues, for the Period 2019-2029F
- Historical Data and Forecast of Nigeria Oilfield Chemicals Market Revenues, By Applications, for the Period 2019-2029F
- Historical Data and Forecast of Nigeria Oilfield Chemicals Market Revenues, By Chemical Types, for the Period 2019-2029F
- Nigeria Oilfield Chemicals Market Revenue Ranking, By Companies
- Nigeria Oilfield Chemicals Market Drivers and Restraints
- Nigeria Oilfield Chemicals Market Trends
- Nigeria Oilfield Chemicals Market Porters Five Forces
- Nigeria Oilfield Chemicals Market Opportunity Assessment
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
Market Scope and Segmentation
Thereportprovides a detailed analysis of the following market segments:
By Application
- Production
- Drilling
- Stimulation
- Others (Cementing, Workover & Completion)
By Chemical Types
- Demulsifiers
- Inhibitors and Scavengers
- Surfactants
- Biocides
- Polymers
- Base Oil
- API Grade Barite
- Calcium Carbonate
- Others (Rheology Modifiers, Pour point depressants, Gas & Mist Fluids, Cement Slurry, Acidizing fluids Etc.)
What are the key emerging trends in the Nigeria oilfield chemicals market?
Nigeria Oilfield Chemicals Market is projected to grow at a CAGR of 5.3% during 2023-2029.
Growth in crude oil production and rising development of new oilfields would further propel the market for oilfield chemicals in Nigeria.
By applications, production segment dominated revenue in 2022, driven by the advantages to improve production maintenance & recovery from reserves.
One notable trend in the Nigeria oilfield chemicals market is the increasing demand for environmentally friendly chemicals. Companies like Chevron are actively seeking eco-friendly solutions to meet regulatory requirements and address sustainability concerns, driving the shift towards green alternatives in the sector.
The Nigeria oilfield chemicals market is primarily driven by the increasing exploration activities by major companies such as Shell, ExxonMobil, and Chevron in the region. However, challenges such as fluctuating oil prices, stringent environmental regulations, and the need for sustainable solutions are shaping the market dynamics. Companies like Baker Hughes and Schlumberger are focusing on developing innovative chemical solutions to address these challenges and meet the evolving needs of the industry.
The Nigeria oilfield chemicals market encompasses a wide range of specialty chemicals used in various processes within the oil and gas industry, including drilling fluids, production chemicals, stimulation chemicals, and enhanced oil recovery chemicals. Key players in this market include multinational companies like Baker Hughes, a GE company, as well as local suppliers such as Greenfield Chemicals. The market is driven by the demand for efficient and environmentally friendly chemical solutions to optimize oil and gas production in Nigeria's oilfields.
The key factors driving growth in the Nigeria oilfield chemicals market include the increasing exploration and production activities by major companies such as Shell, ExxonMobil, and Chevron in the region. Additionally, the demand for specialized chemicals like corrosion inhibitors, demulsifiers, and biocides due to the aging oilfields in Nigeria is fueling market growth. Furthermore, advancements in enhanced oil recovery techniques and a growing focus on environmental sustainability are also propelling the demand for innovative chemical solutions in the oil and gas sector.
The key competitors in the Nigeria oilfield chemicals market include global players such as Baker Hughes, a GE company, Schlumberger, and Halliburton, who offer a wide range of specialty chemicals and services tailored to the oil and gas industry. Local companies like Nigerchem and Midwestern Oil & Gas also compete in the market by providing customized solutions to meet the specific needs of Nigerian oilfield operators. These competitors differentiate themselves through innovative product offerings, strategic partnerships with local suppliers, and a strong focus on sustainability and environmental stewardship.
6Wresearch actively monitors the Nigeria Oilfield Chemicals Market and publishes its comprehensive annual report, highlighting emerging trends, growth drivers, revenue analysis, and forecast outlook. Our insights help businesses to make data-backed strategic decisions with ongoing market dynamics. Our analysts track relevent industries related to the Nigeria Oilfield Chemicals Market, allowing our clients with actionable intelligence and reliable forecasts tailored to emerging regional needs.
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| 1. Executive Summary |
| 2. Introduction |
| 2.1 Report Description |
| 2.2 Key Highlights of the Report |
| 2.3 Market Scope and Segmentation |
| 2.4 Research Methodology |
| 2.5 Assumptions |
| 3. Nigeria Oilfield Chemicals Market Overview |
| 3.1 Nigeria Oilfield Chemicals Market Revenues (2019-2029F) |
| 3.2 Nigeria Oilfield Chemicals Market Industry Life Cycle |
| 3.3 Nigeria Oilfield Chemicals Market Porter’s Five Forces Model |
| 4. Nigeria Oilfield Chemicals Market Dynamics |
| 4.1 Impact Analysis |
| 4.2 Market Drivers |
| 4.2.1 Increasing exploration and production activities in the oil and gas sector in Nigeria |
| 4.2.2 Growing demand for enhanced oil recovery techniques |
| 4.2.3 Implementation of stringent environmental regulations driving the need for eco-friendly oilfield chemicals |
| 4.3 Market Restraints |
| 4.3.1 Fluctuating oil prices impacting investment decisions in oilfield chemicals |
| 4.3.2 Infrastructure challenges and security issues in Nigeria affecting operations in the oil and gas sector |
| 5. Nigeria Oilfield Chemicals Market Trends and Evolution |
| 6. Nigeria Oilfield Chemicals Market Overview, By Applications |
| 6.1 Nigeria Oilfield Chemicals Market Revenue Share and Revenues, By Applications (2019-2029F) |
| 6.1.1 Nigeria Oilfield Chemicals Market Revenues, By Production (2019-2029F) |
| 6.1.2 Nigeria Oilfield Chemicals Market Revenues, By Drilling (2019-2029F) |
| 6.1.3 Nigeria Oilfield Chemicals Market Revenues, By Stimulation (2019-2029F) |
| 6.1.4 Nigeria Oilfield Chemicals Market Revenues, By Others (2019-2029F) |
| 7. Nigeria Oilfield Chemicals Market Overview, By Chemical Types |
| 7.1 Nigeria Oilfield Chemicals Market Revenue Share, By Chemical Types (2022 & 2029F) |
| 7.2 Nigeria Oilfield Chemicals Market Revenues, By Chemical Types (2019-2029F) |
| 7.2.1 Nigeria Oilfield Chemicals Market Revenues, By Demulsifiers (2019-2029F) |
| 7.2.2 Nigeria Oilfield Chemicals Market Revenues, By Inhibitors and Scavengers (2019-2029F) |
| 7.2.3 Nigeria Oilfield Chemicals Market Revenues, By Surfactants (2019-2029F) |
| 7.2.4 Nigeria Oilfield Chemicals Market Revenues, By Biocides (2019-2029F) |
| 7.2.5 Nigeria Oilfield Chemicals Market Revenues, By Polymers (2019-2029F) |
| 7.2.6 Nigeria Oilfield Chemicals Market Revenues, By Base Oil (2019-2029F) |
| 7.2.7 Nigeria Oilfield Chemicals Market Revenues, By API Grade Barite (2019-2029F) |
| 7.2.8 Nigeria Oilfield Chemicals Market Revenues, By Calcium Carbonate (2019-2029F) |
| 7.2.9 Nigeria Oilfield Chemicals Market Revenues, By Others (2019-2029F) |
| 8. Nigeria Oilfield Chemicals Market Key Performance Indicators |
| 9. Nigeria Oilfield Chemicals Market Government Norms |
| 10. Nigeria Oilfiled Chemicals Market - Opportunity Assessment |
| 10.1 Nigeria Oilfiled Chemicals Market Opportunity Assessment, By Applications (2029F) |
| 10.1 Nigeria Oilfiled Chemicals Market Opportunity Assessment, By Chemical Types(2029F) |
| 11. Nigeria Oilfield Chemicals Market - Competitive Landscape |
| 11.1 Nigeria Oilfield Chemicals Market Revenue Share, By Companies |
| 11.2 Nigeria Oilfield Chemicals Market Competitive Benchmarking, By Technical Parameters |
| 11.3 Nigeria Oilfield Chemicals Market Competitive Benchmarking, By Operating Parameters |
| 12. Company Profiles |
| 12.1 Halliburton |
| 12.2 Baker Hughes |
| 12.3 Schlumberger |
| 12.4 BASF |
| 12.5 Clariant |
| 12.6 Chevron |
| 12.7 Championx |
| 12.8 Matrix Petrochem |
| 12.9 GGI INTL’ Nigeria Ltd. |
| 12.10 Geoplex |
| 13. Key Strategic Recommendations |
| 14. Disclaimer |
| List of Figures |
| 1. Nigeria Oilfield Chemicals Market Revenues, 2019-2029F ($ Million) |
| 2. Crude Oil Production in Nigeria (Million barrels per day) |
| 3. Nigeria Oilfield Chemicals Market Revenue Share, By Applications, 2022 & 2029F |
| 4. Nigeria Oilfield Chemicals Market Revenue Share, By Chemical Types, 2022 & 2029F |
| 5. Nigeria's crude oil and condensate exports by Regions, 2022 (thousand barrels per day) |
| 6. Nigeria's crude oil and condensate exports by Top Countries, 2022 (thousand barrels per day) |
| 7. Nigeria's Total Automotive Market Size (in $million) |
| 8. Nigeria Oilfield Chemicals Market Opportunity Assessment, By Applications, 2029F |
| 9. Nigeria Oilfield Chemicals Market Opportunity Assessment, By Chemical Types, 2029F |
| 10. Nigeria Oilfield Chemicals Market Revenue Ranking, By Companies, 2022 |
| List of Tables |
| 1. Upcoming Oil and Gas projects in Nigeria |
| 2. Nigeria Oilfield Chemicals Market Revenues, By Applications, 2019-2029F ($ Million) |
| 3. Nigeria Oilfield Chemicals Market Revenues, By Chemical Types, 2019-2029F ($ Million) |
| 4. Total Market Size for Oil and Gas (in Million USD Total Market Size for Oil and Gas (in Million USD) |
| 5. Five key development targets of Nigerian automotive sector |
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