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Link : https://www.mordorintelligence.com/industry-
reports/bangladesh-lubricants-market
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https://www.mordorintelligence.com/industry-
reports/lubricants-market

Bangladesh Lubricants Market - Growth, Trends, and

Forecast (2019 - 2024)
The Bangladesh Lubricants Market is segmented by Product Type (Engine Oil, Transmission
and Hydraulic Fluid, Metalworking Fluid, General Industrial Oil, Gear Oil, Grease, and Other
Product Types) and End-user Industry (Power Generation, Automotive and Other Transportation,
Heavy Equipment, Food and Beverage, Metallurgy and Metalworking, Chemical Manufacturing,
and Other End-user Industries).

Home Industry Reports Chemicals & Materials Bangladesh Lubricants Market -

Growth, Trends, and Forecast (2019 - 2024)
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 About This Report

o Market Snapshot
o Market Overview
o Scope of the Report
o Key Market Trends
o Competitive Landscape
o Major Players
 Table of Contents

Market Snapshot
Study Period:

2016-2024
Base Year:

2018

Key Players:

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Bangladesh Lubricants Market

The Bangladesh lubricants market is expected to register a CAGR of 3.01% over the forecast
period, 2019-2024. The major factor which is driving the market studied is the increasing
construction activities in the country. The high price of synthetic lubricants is expected to hinder
the growth of the market.

 The automotive & other transportation dominated the market in 2018, and it is expected
to grow during the forecast period.
 Growing demand for new motor vehicles is likely to act as an opportunity in the future.
 

Scope of the Report

The Bangladesh lubricants market report includes:

Engine Oil
Transmission and Hydraulic Fluid
Product Type Metalworking Fluid
General Industrial Oil
Gear Oil
Grease
Other Product Types

End-user Industry
Power Generation
Automotive and Other Transportation
Heavy Equipment
Food and Beverage
Metallurgy and Metalworking
Other End-user Industries

Report scope can be customized per your requirements. Click here.

Key Market Trends

Increasing Construction Activities

 In recent years, the construction activities in Bangladesh are increasing, owing to the
growing per capita income and rising living standard of the consumers in the country.
Major economies, like China, India, Japan, Korea, and the United States are keen to
invest in the infrastructure sector of Bangladesh, owing to its good land to water
connectivity, port operations, and other factors leading Bangladesh to be a strategic
location to carry out business.
 As per the World Bank Business report, Bangladesh has improved its ranking in the
terms of ease of doing business in the construction sector (starting a business, holding
the minor investors and dealing with construction permits). According to the report,
the whole process to start a new project in Bangladesh takes around 250 days
including pre-planning.
 Bangladesh is the fourth fastest growing economy worldwide, with GDP of
Bangladesh experiencing a continuous rise since the past 5 years. Bangladesh recorded
a GDP growth rate of 7.86% in 2018 over the previous 7.28% in 2017.
 The construction activities accounted for a value of BDT 7,359.5 million in 2017-2018
(~USD 86.93 million), witnessing an increase from BDT 6,659.1 million (~USD78.66
million) in 2016-2017. 
 In recent years, the contribution of the construction sector towards the country’s GDP
has been rising at a significant rate. Construction sector’s contribution rose to 7.5% of
total GDP in the 2017-2018 fiscal year from 7.36% in the 2016-2017 fiscal year.
 Thus, the growing construction activities in the country are likely to drive the
consumption of lubricants through the forecast period.
To understand key trends, Download Sample Report

Automotive and Other Transportation Segment Expected to Dominate the Market

 Lubricants are used in automotive for various applications, such as engine, brake
systems, fuel systems, transmission manufacturing, steering systems, exhaust systems,
and many others. Lubricants in automotive reduce friction by creating a thin layer or
film (clearance) between the moving parts. Shock absorption during heavy loads and
the absorption of contaminants are a few of the various advantages.
 Lubricants in marine transportation are used to dissipate heat, for reducing friction,
and combat wear and tear between the surfaces of two moving components.
Additionally, lubricants help fight corrosion and rust in the engine, whether its an
aviation engine or a wheel burning on a car.
 The automotive industry in Bangladesh is considered as the third largest in South Asia.
Bangladesh is anticipating a rise in the demand for motorized vehicles. Until July
2018, 282,354 vehicles were registered against the 420,398 vehicles registered in
2017.
 Although the sales of new vehicles have been decreasing in the country for the past
three years, the sales of used cars have increased significantly in the country, thereby
driving the demand for automotive lubricants.
 The automotive industry in Bangladesh is dominated by imports of new vehicles,
mostly by Japan, China, and India on a large scale and a few from Europe and the
United States.
 Bangladesh is anticipating a growth in the aviation market, with the 170 million
population increasing the use of the aerial route for traveling, owing to the growing
middle-class income. Due to this, air travel is increasing in the country, which in turn
is leading to the market growth for aviation lubricants.
 The demand for engine oils will keep rising with the increasing automotive vehicles,
which in turn will increase the market for lubricants in Bangladesh.

Competitive Landscape
The Bangladesh lubricant market is partly consolidated, with top 5 players accounting for about
55% of the market. The major companies include Navana Petroleum Limited (Caltex/Chevron),
MJL Bangladesh Limited (Exxon Mobil), Trade Services International (Total), Rahimafrooz
(Bangladesh) Ltd (BP PLC), Ranks Petroleum Limited (Royal Dutch Shell PLC).

Major Players

1. Trade Services International (Total)

2. Ranks Petroleum Limited (Royal Dutch Shell PLC)
3. Rahimafrooz (Bangladesh) Ltd (BP PLC)
4. Navana Petroleum Limited (Caltex/Chevron)
5. MJL Bangladesh Limited (Exxon Mobil)

* Complete list of players covered available in the table of contents below

Table of Contents

1. 1. INTRODUCTION
1. 1.1 Study Deliverables
2. 1.2 Study Assumptions
3. 1.3 Scope of the Study
2. 2. RESEARCH METHODOLOGY
3. 3. EXECUTIVE SUMMARY
4. 4. MARKET DYNAMICS
1. 4.1 Market Drivers
1. 4.1.1 Increasing Construction Activities
2. 4.1.2 Increasing Activities of Metalworking and Metallurgy
2. 4.2 Market Restraints
1. 4.2.1 High Price of Synthetic Lubricants
3. 4.3 Value Chain/Supply Chain Analysis
4. 4.4 Porter's Five Forces Analysis
1. 4.4.1 Threat of New Entrants
2. 4.4.2 Bargaining Power of Buyers/Consumers
3. 4.4.3 Bargaining Power of Suppliers
4. 4.4.4 Threat of Substitute Products
5. 4.4.5 Intensity of Competitive Rivalry
5. 5. MARKET SEGMENTATION
1. 5.1 Product Type
1. 5.1.1 Engine Oil
2. 5.1.2 Transmission and Hydraulic Fluid
3. 5.1.3 Metalworking Fluid
4. 5.1.4 General Industrial Oil
5. 5.1.5 Gear Oil
6. 5.1.6 Grease
7. 5.1.7 Other Product Types
2. 5.2 End-user Industry
1. 5.2.1 Power Generation
2. 5.2.2 Automotive and Other Transportation
3. 5.2.3 Heavy Equipment
4. 5.2.4 Food and Beverage
5. 5.2.5 Metallurgy and Metalworking
6. 5.2.6 Other End-user Industries
6. 6. COMPETITIVE LANDSCAPE
1. 6.1 Vendor Market Share
2. 6.2 Mergers and Acquisitions
3. 6.3 Company Profiles
1. 6.3.1 APSCO Bangladesh
2. 6.3.2 Basumati Group of Companies
3. 6.3.3 City Lub Oil Industries Ltd
4. 6.3.4 Corona Group (Lukoil)
5. 6.3.5 Gulf Oil Bangladesh Limited
6. 6.3.6 Imam Group (FUCHS and Conoco)
7. 6.3.7 Lub-rref (Bangladesh) Ltd
8. 6.3.8 MJL Bangladesh Limited (Exxon Mobil)
9. 6.3.9 Navana Petroleum Limited (Caltex/Chevron)
10. 6.3.10 Padma Oil Company Limited
11. 6.3.11 Rahimafrooz Distribution Ltd (Castrol)
 12. 6.3.12 Ranks Petroleum Ltd (Royal Dutch Shell PLC)
13. 6.3.13 Trade Services International (Total)
14. 6.3.14 United Lube Oil Limited (Petronas)

*List Not Exhaustive

7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

1. 7.1 Increase in Demand for Automotive Vehicles

**Subject to Availability
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