Bangladesh: Market for Petroleum Lubricating Oil And Grease 2024

Market Size for Petroleum Lubricating Oil And Grease in Bangladesh

The Bangladeshi market for petroleum lubricating oil and grease declined modestly to $X in 2022, waning by X% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by X% against 2020 indices. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market failed to regain momentum.

Production of Petroleum Lubricating Oil And Grease in Bangladesh

In value terms, petroleum lubricating oil and grease production shrank modestly to $X in 2022 estimated in export price. Over the period under review, the total production indicated a modest increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 when the production volume increased by X%. As a result, production attained the peak level of $X. From 2018 to 2022, production growth remained at a lower figure.

Exports of Petroleum Lubricating Oil And Grease

Exports from Bangladesh

For the fourth year in a row, Bangladesh recorded decline in overseas shipments of petroleum lubricating oil and grease, which decreased by X% to X kg in 2022. In general, exports continue to indicate a sharp setback. The pace of growth appeared the most rapid in 2018 when exports increased by X%. As a result, the exports attained the peak of X tons. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, petroleum lubricating oil and grease exports dropped remarkably to $X in 2022. Overall, exports faced a abrupt setback. The pace of growth appeared the most rapid in 2017 when exports increased by X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X kg), Serbia (X kg) and Spain (X kg) were the main destinations of petroleum lubricating oil and grease exports from Bangladesh, together accounting for X% of total exports.

From 2012 to 2022, the biggest increases were recorded for Serbia (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Spain ($X), the United Arab Emirates ($X) and Serbia ($X) were the largest markets for petroleum lubricating oil and grease exported from Bangladesh worldwide, with a combined X% share of total exports.

Among the main countries of destination, Serbia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for petroleum lubricating oil and grease stood at $X per ton in 2022, jumping by X% against the previous year. In general, the export price recorded strong growth. The pace of growth appeared the most rapid in 2017 an increase of X% against the previous year. The export price peaked in 2022 and is expected to retain growth in the near future.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Morocco (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Petroleum Lubricating Oil And Grease

Imports into Bangladesh

In 2022, the amount of petroleum lubricating oil and grease imported into Bangladesh dropped to X tons, which is down by X% compared with 2021. Over the period under review, imports, however, continue to indicate strong growth. The pace of growth was the most pronounced in 2021 when imports increased by X%. As a result, imports attained the peak of X tons, and then declined in the following year.

In value terms, petroleum lubricating oil and grease imports rose to $X in 2022. Overall, imports, however, saw a strong increase. The growth pace was the most rapid in 2021 when imports increased by X%. Over the period under review, imports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Imports by Country

In 2022, India (X tons) constituted the largest petroleum lubricating oil and grease supplier to Bangladesh, with a X% share of total imports. Moreover, petroleum lubricating oil and grease imports from India exceeded the figures recorded by the second-largest supplier, Germany (X tons), twofold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from India amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and China (X% per year).

In value terms, the largest petroleum lubricating oil and grease suppliers to Bangladesh were India ($X), Germany ($X) and China ($X), with a combined X% share of total imports.

China, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for petroleum lubricating oil and grease stood at $X per ton in 2022, surging by X% against the previous year. Over the period from 2012 to 2022, it increased at an average annual rate of X%. The growth pace was the most rapid in 2020 an increase of X%. The import price peaked in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for India ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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