Bangladesh's faucet market size reaches 15 billion pounds, and foreign imports account for 51.02%
Posted on October 14 2022
The faucet and shower head market is growing steadily as Bangladesh’s rapid urbanization, expansion of the housing sector, and improving economic conditions have resulted in increasing local demand for hygiene necessities.
Local industry sources say the faucet market has surpassed the £15bn mark with an annual growth rate of 15%. However, most of this market is dominated by foreign brands as there are currently no major local brands producing these products other than RFL Group.
About 50 companies in Bangladesh make plastic, steel and metal faucets and showers, traders said. The products of these companies include faucets, shower heads, flush toilets, basin faucets and squat toilet faucets. However, most of the bathroom products used in apartments, hotels and resorts need to be imported from Italy, Germany, South Korea, India, Thailand, China or Taiwan.
The data shows that the current market share of imported faucets in Bangladesh is 51.02%, followed by the market share of local sanitary ware companies: Sharif 9.55%, Sattar 6.58%, Tanvir 4.12%, PFL 4.01%, Raja 3.04%, Suzon 2.15%, Habib 2.08%, Astra 1.63%, Remac 0.89%, and other enterprises accounted for 14.93%.
Kamruzzaman Kamal, Marketing Director of PRAN-RFL Group, said, “Most of the faucets and showerheads in the rural Bangladesh market are of average quality. The faucets are made of low-quality materials and outdated technology, rust quickly, and the electroplating also will wear out."
Locally, the price of a faucet depends on its design and shape, said Saidul Alam, owner of Alam Trading International. “The faucets of local companies range from 20 to 500 taka (taka, the full name of Bangladesh taka, the currency in circulation in Bangladesh) according to the quality, while the price of foreign imported faucets ranges from 500 to 5,000 takas, with induction functions. Foreign faucets are priced between Tk 7,000 and Tk 20,000," he said, adding, "The price of faucet sets is between Tk 7,000 and Tk 45,000."
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(Article source: https://www.chinaweiyu.com/)