Lubricant Market in Bangladesh

Lubricant acts as the lifeblood of vehicles and industrial equipment. Using poor-quality oils can damage equipment components over time. Expansion in transportation, driven by improvements in communication, infrastructure, and access to finance, fuels rapid growth in Bangladesh’s lubricant market. Moreover, rising economic activity, growth in the power sector, a vibrant transportation and mobility sector, and easier access to finance further boost demand.

Industry insiders report that the annual demand for lubricant products in Bangladesh reached about 1.75 lakh tons in the 2018-19 fiscal year. They expect demand to reach 2 lakh tons in 2019-20. The market size stood at approximately BDT 5,000 crore to BDT 6,000 crore in 2018-19. Furthermore, the market grows at a rate of 5% to 7% per year. This growth reflects the country’s expanding economy, rising purchasing power, and the increasing number of on-road vehicles.

Current Key Players & their Lubricant Market Share

Major local and imported brands

According to industry people, there are more than 100 plus lubricant brands in Bangladesh, with imported brands dominating the market. They meet around 60% of the local demand, leaving the rest around 40% to local brands. 

MJL Bangladesh is the major player in the local lubricant market with an unassailable 26% market share. Mobil is a popular brand manufactured by MJL Bangladesh. They are enjoying a 70% market share of the industrial lubricant sector.

BNO lubricant of Lub-reef (Bangladesh) Ltd, FUCHS lubricant of Fuchs Lubricants Bangladesh Ltd, and Omera lubricant of Omera Petroleum Ltd, a subsidiary of MJL Bangladesh, are other major local brands. 

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