In Bangladesh, the number of automotive vehicles is growing at an exponential rate, so the demand for automotive engine oil is also growing with it.
The annual demand for lubricating oils is increasing significantly, it’s around 100 million litres, whereas base oil demand around 140 million litres including process oil. The market value of base oil around $133 million.
The annual consumption of lubricants oil has got almost 3% yearly growth.
The demand for base oil is also growing because of the automotive industry, holds over 57 per cent of the total market, in terms of volume. The automotive sector accounts for 70% of total lubricant consumption in Bangladesh
Earlier data says Mobil is the market leader with its 27% share, followed by British Petroleum at 9%, French brand Total at 4% and Shell, Castrol and Caltex with 2% each. The remaining 54% share of the market is held by over 70 brands.
Recent information says the market leaders are losing their market shares. Market insiders say that around 70 per cent market shares belong to various brands altogether. 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.
Market leaders are enjoying their market share in this market is not true at all. This market is already flooded with many global and local brands.