It publishes various market insights on Bangladesh lubricants market. Here, the demand for base oil and lubricants is growing rapidly.
Before 2000, only state-owned oil marketing agencies were allowed to blend, import and distribute all kinds of lubricants in Bangladesh.
However, in 2011, the government has liberalized the market to ensure a minimum standard for it.
Since then, more than 70 lubricants brands have entered into this market. Thus the private sector made lubricants business successful here.
The automotive sector accounts for 70% of total lubricant consumption now.
Market insiders say the number of existing brands is around 50 and the number is increasing day by day. More lubricants oil brands are yet to enter in this open market.
The domestic demand for lubricants oil is increasing significantly. It is around 100 million litres, whereas base oil demands around 160 million litres.
This market is already over-flooded with many brands and it will be more competitive in near future.