Lubes market continues to grow in Bangladesh
The Bangladesh engine oil market could grow by 5-6% annually according to a report from Mobil Jamuna.
The report shows that, last year, automotive accounted for 77% of the country's lubes market, with manufacturing taking the rest. Mobil projects 62,600 tonnes will be consumed this year, an increase of 2,000 tonnes on 2009 and close to 4,000 tonnes higher than 2007 - annual growth of between 3 and 3.5%.
Although local or lesser-known brands hold 53% share of Bangladesh lubes, Mobil is the largest of the big names with a 26% take, followed by BP and then Total. All of the majors entered the market after it was liberalised in 2001 along with government legislation banning non-additive-based products.
The Mobil report states that there is significant room for growth in consumption if "there was a constant supply of gas an electricity". The energy disruptions across the country have dampened manfucturing activity, having a knock-on effect on engine oil consumption.
Published 17th July, 2010
