How many lubricating oil brands exist in Bangladesh? Market Insiders says it is around a hundred.
Market observers say the number of existing brands is 150 and the number is increasing day by day. More lubricating oil brands are yet to enter in this open market.
In this situation, the lubricants seller are welcoming new sales reps regularly.
“We are very much surprised seeing so many brands in Bangladesh, even in India we don’t have too many brands,” said Kaushik Mazumder, national sales manager to Veedol Lubricants in Bangladesh.
However, brands like Mobil, Shell, Castrol, and BP are enjoying their brand values which hold 30-35 per cent of the total market share.
The rest of the market share belongs to other existing local and foreign brands.
The annual domestic demand of lubricating oils is increasing significantly; it’s around 100 million litres, whereas base oil demand around 140 million litres.
This market is already over-flooded with many brands and it will be more competitive .