Lubricant Market in Bangladesh

Lubricant is considered the blood of vehicles and industrial equipment. If good quality oils are not used in equipment, it will eventually damage their various components. Expansion in transportation, driven by development in communication, infrastructure, and availability of finance is fueling the rapid growth of the lubricant market in Bangladesh. Increasing economic activities, rising the power sector, vibrant transportation and mobility sector, and ease of getting finance also have boosted the lubricant market in Bangladesh.

According to industry insiders, in the Bangladesh market, the annual demand for lubricant products reached about 1.75 lakh tons in the 2018-19 fiscal year which was expected to reach 2 lakh tons in the 2019-20 fiscal year.  In the 2018-19 fiscal year, the lubricant market size stood at about BDT 5000 crore to BDT 6000 crore as the market grows by 5% to 7% per annum. This growth is also projected on the back of the country’s economic growth, people’s buying capacity & rising 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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