Lubricants market of Bangladesh is a competitive one. The lubricants shelves of the overall market have already placed more than 100 brands altogether and the number of brands is increasing day by day.
And the situation is being worsened while so many by name products are taking the different shelves of different clusters. This market has become more overstated in terms of brand names and local products.
You may argue with us; lubricants shelves have no more space to place your new brands. You might get surprised hearing such a statement. For your information, it’s not a surprising one.
Regularly, lubricants retailers have to welcome the representatives of newly entered brands.
A national sales manager, of a reputed lubricating oil brand in Bangladesh, said, even India doesn’t have too many oil brands like Bangladesh have.
Earlier, we observed these factors behind the lubricants trade of Bangladesh. And, business Insiders has depicted this lubricants market as a silent trade with a lot of floating traders.
On an assumption, the annual domestic demand for lubricants oils is around 100 million litres, whereas base oil demand around 140 million litres.
The annual domestic consumption has got almost 3% yearly growth.
However, the base oil demand of Bangladesh is growing thanks to increasing automotive sector and the agriculture-based economy.
Lubricants consumption in the industrial sector has increased significantly in the last 5 years.
Furthermore, this unnoticeable market now is a competitive one. Already, lubricant players have established their footholds here, with international brands.
Market insiders think lack of govt. intervention on the policy to monitor this trade make this market uncontrolled one.
And it is high time to bring strong regulations to change this prevailing situation and help the industries and also protect the environment in the process.
However, the lack of market monitoring and the least reporting makes this trade unnoticeable to the public.
Currently, the situation is being tough for the overall lubricants market. It is clear, the lubricants brands with their existing market share, are struggling to hold their market shares.