Nigeria Oilfield Chemicals Market Introduction and Overview
According to SPER Market Research, the Nigeria Oilfield Chemicals Market is estimated to reach USD XX billion by 2033 with a CAGR of XX%.
The report includes an in-depth analysis of the Nigeria Oilfield Chemicals Market, including market size and trends, product mix, Applications, and supplier analysis. Chemicals known as oilfield chemicals are used to increase the effectiveness and efficiency of tasks carried out at an oilfield site. Under these circumstances, these chemicals are used in drilling, production, completion, and a number of other procedures. These substances are employed in the cleaning of machinery, equipment, oil, and oil sites.
Market Opportunities and Challenges
The market for oilfield chemicals in Nigeria is expected to grow in the forecast period as a result of rising crude oil production and the development of new oilfields. For example, Nigeria's new deep-water projects between 2023 and 2025 are likely to add roughly 2.3 billion barrels to the country's current oil reserves, which will further support market growth. In addition, 25 planned upstream oil and gas projects, government assistance to increase Nigeria's oil output, and promised short-term investments of billions are all anticipated to contribute to strong demand for Nigerian oilfield chemicals during the projected period.
But the water, gas and oil that are drawn from reservoirs are processed using a wide range of chemicals. This cleaned water contains a number of chemicals that, if released, might threaten the flora and fauna. These environmental concerns are anticipated to constrain the market for oilfield chemicals throughout the course of the forecast period. This factor is expected to limit the sector's expansion for oilfield chemicals.
Market Competitive Landscape
The Nigeria Oilfield Chemicals market is fiercely competitive. The major players in the market include: Baker Hughes, BASF, Championx, Chevron, Clariant, Geoplex, GGI INTL’ Nigeria Ltd., Halliburton, Matrix Petrochem, Schlumberger, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Chemical Type, By Application
|
| Regions covered | North Central, North West, South West, Others
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| Companies Covered | Baker Hughes, BASF, Championx, Chevron, Clariant, Geoplex, GGI INTL’ Nigeria Ltd., Halliburton, Matrix Petrochem, Schlumberger, Others
|
COVID-19 Impact on Nigeria Oilfield Chemicals Market
The oil and gas industry was damaged by Covid-19 and the economic crisis, which in turn had an influence on the market for oilfield chemicals. The industry was struggling with supply-demand imbalances prior to the pandemic, and the crisis made things worse. Due to lockdowns, travel restrictions, and economic uncertainty, the early stages of COVID-19 caused an unprecedented decline in global oil demand, which disrupted supply chains around the world and caused industrial delays. The unexpected outbreak shocked participants and caused the price of oil to crash. While the petroleum sector has mostly recovered, there is still a lot of uncertainty due to new, more contagious virus types. On the supply side, producers face challenges because of prospective investment choices that could lead to excess capacity or insufficient supply to satisfy demand.
Key Target Audience:
- Drilling Contractors
- Health and Safety Professionals
- Investors and Financial Institutions
- Oil and Gas Exploration and Production Companies
- Oilfield Chemical Distributors
- Oilfield Chemical Manufacturers
- Oilfield Engineers and Geologists
- Oilfield Equipment Manufacturers
- Refineries and Petrochemical Plants
- Risk Management and Insurance Providers
- Others
Our in-depth analysis of the Nigeria Oilfield Chemicals Market includes the following segments:
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By Chemical Type:
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API Grade Barite
Base Oil
Biocides
Calcium Carbonate
Demulsifiers
Inhibitors And Scavengers
Polymers
Surfactants
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By Application:
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Drilling
Production
Stimulation
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By Region:
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North Central
North West
South West
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Key Topics Covered in the Report:
- Nigeria Oilfield Chemicals Market Size (FY’2023-FY’2033)
- Overview of Nigeria Oilfield Chemicals Market
- Segmentation of Nigeria Oilfield Chemicals Market By Chemical Type (API Grade Barite, Base Oil, Biocides, Calcium Carbonate, Demulsifiers, Inhibitors and Scavengers, Polymers, Surfactants, Others)
- Segmentation of Nigeria Oilfield Chemicals Market By Application (Drilling, Production, Stimulation, Others)
- Statistical Snap of Nigeria Oilfield Chemicals Market
- Expansion Analysis of Nigeria Oilfield Chemicals Market
- Problems and Obstacles in Nigeria Oilfield Chemicals Market
- Competitive Landscape in the Nigeria Oilfield Chemicals Market
- Impact of COVID-19 and Demonetization on Nigeria Oilfield Chemicals Market
- Details on Current Investment in Nigeria Oilfield Chemicals Market
- Competitive Analysis of Nigeria Oilfield Chemicals Market
- Prominent Players in the Nigeria Oilfield Chemicals Market
- SWOT Analysis of Nigeria Oilfield Chemicals Market
- Nigeria Oilfield Chemicals Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Nigeria Oilfield Chemicals Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Nigeria Oilfield Chemicals Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Nigeria Oilfield Chemicals Market
7. Nigeria Oilfield Chemicals Market, By Chemical Type (USD Million)
7.1. Nigeria Oilfield Chemicals Market Value Share and Forecast, By Chemical Type, 2023-2033
7.2. API Grade Barite
7.3. Base Oil
7.4. Biocides
7.5. Calcium Carbonate
7.6. Demulsifiers
7.7. Inhibitors And Scavengers
7.8. Polymers
7.9. Surfactants
7.10. Others
8. Nigeria Oilfield Chemicals Market, By Application (USD Million)
8.1. Nigeria Oilfield Chemicals Market Value Share and Forecast, By Application, 2023-2033
8.2. Drilling
8.3. Production
8.4. Stimulation
8.5. Others
9. Nigeria Oilfield Chemicals Market Forecast, 2019-2033 (USD Million)
9.1. Nigeria Oilfield Chemicals Market Size and Market Share
10. Nigeria Oilfield Chemicals Market, By Chemical Type, 2019-2033 (USD Million)
10.1. Nigeria Oilfield Chemicals Market Size and Market Share By Chemical Type (2019-2026)
10.2. Nigeria Oilfield Chemicals Market Size and Market Share By Chemical Type (2027-2033)
11. Nigeria Oilfield Chemicals Market, By Application, 2019-2033 (USD Million)
11.1. Nigeria Oilfield Chemicals Market Size and Market Share By Application (2019-2026)
11.2. Nigeria Oilfield Chemicals Market Size and Market Share By Application (2027-2033)
12. Nigeria Oilfield Chemicals Market, By Region, 2019-2033 (USD Million)
12.1. Nigeria Oilfield Chemicals Market Size and Market Share By Region (2019-2026)
12.2. Nigeria Oilfield Chemicals Market Size and Market Share By Region (2027-2033)
12.3. North Central
12.4. North West
12.5. South West
12.6. Others
13. Company Profile
13.1. Baker Hughes
13.1.1. Company details
13.1.2. Financial outlook
13.1.3. Product summary
13.1.4. Recent developments
13.2. BASF
13.2.1. Company details
13.2.2. Financial outlook
13.2.3. Product summary
13.2.4. Recent developments
13.3. Championx
13.3.1. Company details
13.3.2. Financial outlook
13.3.3. Product summary
13.3.4. Recent developments
13.4. Chevron
13.4.1. Company details
13.4.2. Financial outlook
13.4.3. Product summary
13.4.4. Recent developments
13.5. Clariant
13.5.1. Company details
13.5.2. Financial outlook
13.5.3. Product summary
13.5.4. Recent developments
13.6. Geoplex
13.6.1. Company details
13.6.2. Financial outlook
13.6.3. Product summary
13.6.4. Recent developments
13.7. GGI INTL’ Nigeria Ltd
13.7.1. Company details
13.7.2. Financial outlook
13.7.3. Product summary
13.7.4. Recent developments
13.8. Halliburton
13.8.1. Company details
13.8.2. Financial outlook
13.8.3. Product summary
13.8.4. Recent developments
13.9. Matrix Petrochem
13.9.1. Company details
13.9.2. Financial outlook
13.9.3. Product summary
13.9.4. Recent developments
13.10. Schlumberger
13.10.1. Company details
13.10.2. Financial outlook
13.10.3. Product summary
13.10.4. Recent developments
13.11. Others
14. List of Abbreviations
15. Reference Links
16. Conclusion
17. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
