Total Lubricants Bangladesh is the country’s largest lube market. Its annual demand for lube oils is 73,000 metric tons. Typically, lubricant consumption tracks the growth of an economy. As of 2017, the country is among the Next 11 economies, whose chief industries are textiles, food, and agriculture. As a result, it is expected that the lube oil market will continue to grow at a steady pace.
The market for passenger vehicles and diesel engines is very dynamic in Bangladesh. Demand for four-wheelers has grown at an average rate of 8% annually. The Bangladesh middle class has become the primary buyer of passenger vehicles in the country. Total Lubricants Bangladesh provides an excellent range of synthetic oils to meet these needs. Likewise, their products protect engines against corrosion and maintain cleanliness while reducing friction. For this reason, Total Lubricants Bangladesh is the leading supplier of engine oils in the country.
The quality of lubricants is essential for engine performance. However, Bangladesh’s lube oil consumption increases by 12% per year compared to the global average. Although the American Petroleum Institute (API) has upgraded the lube oil standards to ensure compatibility with turbochargers, the country is still generating low-grade lube oil. This adulterated oil damages expensive machinery and reduces the overall performance of an engine.
Trade Services International, which works for Total Lub Oil in Bangladesh, sent a letter to the Prime Minister’s Energy Affairs Adviser urging him not to cancel the marketing deal between Total and Padma Oil. They had recently learned that Padma Oil was planning to sign a marketing deal with Russian energy giant Lukoil, which would be a violation of the Total deal and send a wrong message to Total.
In 2010, the government imposed two mandatory quality checks on imported lube base oil. This is the raw material that local lubricating oil blenders use to make finished lubricants. However, heavy normal paraffin oil is still cheaper than imported lube base oil. As a result, there is a greater need for local lubricants in the country. The lubricant industry in Bangladesh is seeing growth, as it has increased its presence on the local scene.
The Bangladesh Lubricants market study report outlines the market’s various types, applications, and end-users. Readers and market players can get in-depth insights about drivers and restraints, as well as the size and competitive landscape. An in-depth analysis of the market for Total Lubricants in Bangladesh provides information on the size, type, and volume of the market. If you have any questions, do not hesitate to contact us and we’ll be happy to help.
The study found that 42% of the used lube oil was recycled into base oil and 31% was recycled into fuel oil. Through a modern re-refining process, used lube oil can be used as a source of low-cost, high-quality lube oil. In Bangladesh, used lube oil is collected and converted into base oil. This recycled lube oil is then used in vehicles.
The market for Total Lubricants in Bangladesh is segmented by the product type and end-user industry. The automotive segment dominates the market, followed by other transportation and power generation. Overall, the lubricants market is expected to grow at a steady rate through the forecast period, with a CAGR of over 1%. In addition, the market for total lubricants in Bangladesh is forecast to grow at a rate of over 1% over the next five years.
Total Lubricants is a French engine oil brand that has been exclusively distributed in Bangladesh for almost a decade. Trade Service International is the exclusive distributor for Total Lubricants in the country. In Bangladesh, Total Quartz 3500 engine oil was launched. The ceremony was attended by Padma Oil Company Limited MD Abul Khair, Vice President of Total Oil Asia Pacific Pai Kok Tan, and TSI Chairman Syed Mahmudul Huq. This lubricant is designed to reduce friction between the moving parts of vehicles.
