Everyone is observing the exponential growth of the lube demand in this market. But is it true the demand is growing? What does the existing database say?
But, the growth rate of the lube companies is much higher than the annual growth of the total lube demand in Bangladesh.
Expansion in transportation, construction infrastructure, and availability of finance, is fuelling the growth of the country’s lube market at a rapid rate.
Market insiders say that the annual demand of lube was around 1.75 lakh tons in the 2018-19 year, and it may reach two lakh tons in the 2019-20 year.
Earlier, the size of the local lube market stood at about Tk5, 000cr to Tk6, 000cr in the 2018-19 year, as the market grows by 5% to 7% per annum.
Increased economic activities, rising power sector, vibrant transportation, and mobility sector have boosted the lube market.
So, the next market depends on the back of the country’s economic growth, people’s buying capacity, and rising number of on-road vehicles.
It is high time to be more strategic for your brand. Get the next business guideline that will help you to grow your business in this competitive market.
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Who is Zulker Naeen?
He is a man behind the brand stories.
Zulker Naeen is a brand designer by profession. He is a communication graduate from the University of Liberal Arts Bangladesh.
He started his career as a copywriter, shifted his career as a market researcher later on.
Afterwards, as an individual practitioner, he has gathered a diverse knowledge of market research and brand designing.
Also, his diverse portfolio says he is the smart guy behind four of the established lubricants brands in Bangladesh, like Hindustan Petroleum, Veedol™, Valvoline®, and Orient.
Moreover, his portfolios are fast-moving consumer goods, energy and power, automotive, and construction.
Google Zulker Naeen to understand his extensive portfolio as a brand designer.
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