Top 5 emerging companies to take over Nigeria’s lubricant market in 2021
The Nigeria’s automotive lubricants market is estimated to reach $683 million in 2023, according to findings by the TechSci Research, a research-based management consulting firm.
The outlook signals that Nigeria’s lubricant market offers enormous opportunities for investors looking for high returns even as more firms leverage on their competitive advantage to take charge of the country’s lubricants market ahead of the expected boom.
Gravitating towards higher-quality, specialised and synthetic lubricants, with an increase in end user awareness on the importance of quality lubricants, more automotive lubricants firms have continued to spring up with many sparing no effort at becoming the household name for lubricants in Nigeria.
Following an independent market survey conducted Flash Poller, an international pollster, here is a list of five (5) emerging firms that could take over the Nigerian lubricants market in 2021.
CDN Oil and Lubricants
CDN Engine Oil and Lubricant is sure the number one lubricant brand name to watch out for in 2021. Owned by renowned marketing specialist and business strategist, Chukwuka Daniel Nwokolo, CDN Engine Oil and Lubricant offers a dynamic range of engine and gear oils, brake fluids, coolants and grease for motorbikes, cars, trucks and other heavy-duty vehicles.
With its efficient, durable, user-friendly and high quality engine oil, the firm has continued to expand its horizon across the 36 states and the FCT, Abuja.
Nwokolo, along with investors and partners, is deploying his vast experience in strategic management, negotiation, business development and marketing strategy to place the product as the best choice and leading engine oil in Nigeria and beyond.
Apart from the efficiency and quality of the oil, the ability to put the product in the faces of its final consumers through the company’s team of marketing experts and branding ‘lords’ is one factor that makes the product stand tall as number one to lead the lubricant market in 2021.
Hyde Auto lubricants
Hyde Engine and Oil was introduced to distributors, auto garages, haulage companies and spare parts dealers recently in Lagos by Hyde Energy Limited, a global petroleum trading company with a downstream network in the country.
The Hyde auto lubricant has two product ranges. The Luminor product range is motor oil, while the Maximus range is a heavy-duty diesel engine oil, which both feature a series of grades. The quality of the engine oil, users say is one of its cutting edge to lead the market in 2021.
Asha Engine Oil is a new entrant into the lubricant market, produced by Asharami Synergy, a Sahara Group Downstream Company.
The Asha engine oil range includes Asha Crest, Asha Xtra, Asha Trans and Asha HD Premium.
Users say its advantage to shine in 2021 is because it gives “consumers seeking pocket friendly, safe, and durable, affordable and high performing lubricants a huge dose of ‘peace of mind’.”
The market demand for Hardex engine oil has continued to grow since its birth in Nigeria’s lubricant market. It provides excellent viscosity–volatility relationship, a prerequisite for excellent lubrication with high grade additive which is able to control burn-off and reduce harmful emission.
Castro engine oil may not be as new to the market as the others listed above, but the product is a fairly recent engine oil brand in Nigeria currently becoming more popular daily. Castro products include Castrol Edge Professional A1 5W-20 and Castrol Edge Maximum Power Motor Oil. Castrol engine oil price in Nigeria is of moderate level, beginning for as low as ₦3,500, which makes it easily reachable to end users.
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