Lubricant Market in Bangladesh Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

The Report Lists Top Lubricants Companies Operating in the Bangladesh Market. The 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, and Other End-User Industries). The Report Offers Market Size and Forecasts for Bangladesh's Lubricants Market in Volume (Million Liters) for all the Above Segments.

Lubricant Market in Bangladesh Size - Industry Report on Share, Growth Trends & Forecasts Analysis (2025 - 2030)

Bangladesh Lubricants Market Size

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Bangladesh Lubricants Market Summary
Study Period 2019 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Market Volume (2025) 216.71 Million liters
Market Volume (2030) 314.89 Million liters
CAGR 7.76 %
Market Concentration High

Major Players

Bangladesh Lubricants Market Major Players

*Disclaimer: Major Players sorted in no particular order

Compare market size and growth of Bangladesh Lubricants Market with other markets in Chemicals & Materials Industry

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Bangladesh Lubricants Market Analysis

The Bangladesh Lubricants Market size is estimated at 216.71 million liters in 2025, and is expected to reach 314.89 million liters by 2030, at a CAGR of 7.76% during the forecast period (2025-2030).

The COVID-19 pandemic negatively impacted the market in 2020 because it significantly impacted supply chains and caused several supply chain disruptions that led to production halts and other issues in almost all industries, such as automotive, heavy equipment, etc. For instance, according to GoodCarBadCar's data, the country's new motor vehicle sales in 2020 were 13.4% lower than in 2019. However, the conditions started recovering in 2021 such that the new motor vehicle sales in 2021 were recorded to be 15.47% higher than in 2020. Such growth across sectors helped Bangladesh's lubricant market recover from the pandemic.

  • In the short term, the major factors, like growing demand from the power generation industry, increasing metalworking and metallurgy activities, and increasing demand from the automotive industry, are expected to drive the market studied.
  • Conversely, low adoption rates of synthetic lubricants due to high prices are expected to hinder the market's growth.
  • The development of bio-based lubricants is expected to act as a market opportunity for the market studied.
  • The automotive and other transportation end-user industry dominated the market in terms of demand and is expected to continue doing the same during the forecast period.

Bangladesh Lubricants Industry Overview

The lubricants market in Bangladesh is partially consolidated in nature. The key players in the market (not in any particular order) include MJL Bangladesh PLC, BP p.l.c., Lub-rref (Bangladesh) Ltd., Navana Petroleum Limited, and Gulf Oil Bangladesh Limited, among others.

Bangladesh Lubricants Market Leaders

  1. BP PLC

  2. Navana Petroleum Limited

  3. Gulf Oil Bangladesh Limited

  4. MJL Bangladesh PLC

  5. Lub-rref (Bangladesh) Ltd.

  6. *Disclaimer: Major Players sorted in no particular order
Bangladesh Lubricants Market Concentration
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Bangladesh Lubricants Market News

Aug 2023: MJL Bangladesh PLC announced plans to invest Tk 95 crore (about USD 8.6 million) to buy the land for future expansion of the business.

Apr 2022: Navana Petroleum Limited announced that it is now an authorized distributor of Petro-Canada Lubricants-branded products to provide customers throughout Bangladesh with the Petro-Canada Lubricants range of lubricants, specialty fluids, and greases, including its leading natural gas engine oil SENTRONTM LD 8000.

Feb 2022: Padma Oil Company Limited (POCL) has moved to sign a deal with Russian Lukoil for the distribution of its lubricant oil in the Bangladesh market.

Bangladesh Lubricants Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Study Assumptions
  • 1.2 Scope of the Study

2. RESEARCH METHODOLOGY

3. EXECUTIVE SUMMARY

4. MARKET DYNAMICS

  • 4.1 Drivers
    • 4.1.1 Growing Demand from the Power Generation Industry
    • 4.1.2 Increasing Activities of Metalworking and Metallurgy
    • 4.1.3 Increasing Demand from Automotive Industry
  • 4.2 Restraints
    • 4.2.1 High Price of Synthetic Lubricants
    • 4.2.2 Other Restraints
  • 4.3 Industry Value-Chain Analysis
  • 4.4 Porter's Five Forces Analysis
    • 4.4.1 Bargaining Power of Suppliers
    • 4.4.2 Bargaining Power of Consumers
    • 4.4.3 Threat of New Entrants
    • 4.4.4 Threat of Substitute Products and Services
    • 4.4.5 Degree of Competition

5. MARKET SEGMENTATION (Market Size in Volume)

  • 5.1 Product Type
    • 5.1.1 Engine Oil
    • 5.1.2 Transmission and Gear Oils
    • 5.1.3 Hydraulic Fluid
    • 5.1.4 Metalworking Fluid
    • 5.1.5 Grease
    • 5.1.6 Other Product Types
  • 5.2 End-user Industry
    • 5.2.1 Power Generation
    • 5.2.2 Automotive and Other Transportation
    • 5.2.3 Heavy Equipment
    • 5.2.4 Metallurgy and Metalworking
    • 5.2.5 Other End-user Industries

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Market Share (%) Analysis**/Market Ranking Analysis
  • 6.3 Strategies Adopted by Leading Players
  • 6.4 Company Profiles
    • 6.4.1 APSCO Bangladesh
    • 6.4.2 BP p.l.c.
    • 6.4.3 City Lube Oil Industries Ltd.
    • 6.4.4 Corona Group
    • 6.4.5 Gulf Oil Bangladesh Limited
    • 6.4.6 Imam Group
    • 6.4.7 Lub-rref (Bangladesh) Ltd.
    • 6.4.8 MJL Bangladesh PLC
    • 6.4.9 Navana Petroleum Limited
    • 6.4.10 Padma Oil Company Limited
    • 6.4.11 Ranks Petroleum Ltd. (Shell BD)
    • 6.4.12 Sigma Oil Industries Ltd
    • 6.4.13 SINOPEC Lubricants Bangladesh
    • 6.4.14 UNITED GROUP
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

  • 7.1 Development of Bio Based Lubricants
  • 7.2 Other Opportunities
**Subject to Availability
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Bangladesh Lubricants Industry Segmentation

Lubricant products are made from a combination of base oils and additives. The composition of base oil in the formulation of lubricants is primarily between 75-90%. Base oils possess lubricating properties and make up to 90% of the final lubricant product.

The Report Lists Top Lubricants Companies Operating in the Bangladesh Market. The Market is Segmented by Product Type (Engine Oil, Transmission and Hydraulic Fluid, Metalworking Fluid, General Industrial Oil, Gear Oil, Grease, and Other Product Types (dry film lubricants)) and End-User Industry (Power Generation, Automotive and Other Transportation, Heavy Equipment, Food and Beverage, Metallurgy and Metalworking, and Other End-User Industries (food processing, marine, etc.)). The Report Offers Market Size and Forecasts for Bangladesh's Lubricants Market in Volume (Liters) for all the Above Segments.

Product Type Engine Oil
Transmission and Gear Oils
Hydraulic Fluid
Metalworking Fluid
Grease
Other Product Types
End-user Industry Power Generation
Automotive and Other Transportation
Heavy Equipment
Metallurgy and Metalworking
Other End-user Industries
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Bangladesh Lubricants Market Research FAQs

How big is the Bangladesh Lubricants Market?

The Bangladesh Lubricants Market size is expected to reach 216.71 million liters in 2025 and grow at a CAGR of 7.76% to reach 314.89 million liters by 2030.

What is the current Bangladesh Lubricants Market size?

In 2025, the Bangladesh Lubricants Market size is expected to reach 216.71 million liters.

Who are the key players in Bangladesh Lubricants Market?

BP PLC, Navana Petroleum Limited, Gulf Oil Bangladesh Limited, MJL Bangladesh PLC and Lub-rref (Bangladesh) Ltd. are the major companies operating in the Bangladesh Lubricants Market.

What years does this Bangladesh Lubricants Market cover, and what was the market size in 2024?

In 2024, the Bangladesh Lubricants Market size was estimated at 199.89 million liters. The report covers the Bangladesh Lubricants Market historical market size for years: 2019, 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Bangladesh Lubricants Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Lubricant in Bangladesh Industry Report

Statistics for the 2025 Bangladesh Lubricants market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Bangladesh Lubricants analysis includes a market forecast outlook for 2025 to 2030 and historical overview. Get a sample of this industry analysis as a free report PDF download.