The new report by Expert Market Research titled, ‘Global Diesel Exhaust Fluid Market Growth, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global diesel exhaust fluid market, assessing the market based on its segments like product component, supply modes, application, vehicle type, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
Forecast Historical Market Size (2020): USD 20.2 billion
Forecast CAGR (2023-2028): 11.8%
Forecast Market Size (2026): USD 39.4 billion
Increasing in the average age of vehicle, improved infrastructure, increase in the number of cars, average miles travelled DEF replacement of cycles and greater concern about vehicle maintenance has led to an increasing demand for for diesel exhaust fluid. Due to factors such as the adoption of stringent emission rules across nations, the market for selective catalytic reduction is likely to grow, hence increasing demand for diesel exhaust fluid.
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For example, NOx limits are projected to be significantly reduced under Euro VI regulations. OEMs are increasingly turning to SCR as a post-treatment procedure as a result. Demand for diesel engines has expanded as a result of its benefits, such as enhanced fuel economy, catalysing the market’s expansion.
Industry Definition and Major Segments
Diesel exhaust fluid, sometimes referred to as AUS32 or DEF and marketed under the brand name AdBlue, is an aqueous urea solution composed of 32.5 percent urea and 67.5 percent deionized water. It is a completely harmless fluid that is used to mitigate the pollution produced by diesel vehicles and engines. It is used in conjunction with selective catalytic reduction (SCR) to reduce the concentration of nitrogen oxides (NOx), hence reducing diesel engine emissions.
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By product component, the market is divided into:
• SCR Catalyst
• DEF Tank
• Supply Module
By supply modes, the market is divided into:
• Cans and Bottles
• Intermediate Bulk Container
By application, the market is divided into:
• Agricultural Retail
By vehicle type, the market is divided into:
• Passenger Car
• Light Commercial Vehicle
• Medium and Heavy Commercial Vehicle
By region, the industry is categorized into:
• North America
• The Asia Pacific
• Latin America
• The Middle East and Africa
The market for diesel exhaust fluid is expanding as the automobile sector adopts new automotive production, average vehicle miles driven, and vehicle sales. The growing concern for the environment as a result of dangerous nitrogen oxide emissions is propelling the diesel exhaust fluid sector forward. North America led the global diesel exhaust fluid market owing to the presence of big market players.
The market is being driven by the standardising of diesel exhaust fluid tanks in buses built in countries such as the United States, as well as the growing demand for light commercial vehicles (LCVs) and heavy commercial vehicles (HCVs). North America has one of the highest proportions of LCVs and HCVs. Furthermore, since 2010, all commercial diesel vehicles in the region have been equipped with selective catalytic reduction (SCR) technology, complying with the emission standards imposed by the EPA Clean Air Act in North America, allowing the market to grow even further.
The region’s high diesel exhaust fluid dosage rate has also fueled market growth. These factors are expected to drive market growth in North America in the coming years as well. The tremendous market potential in unexplored emerging markets is also expected to aid in the growth of the diesel exhaust fluid industry during the forecast period.
Key Market Players
The major players in the market are Yara International ASA, Royal Dutch Shell PLC, BASF SE, The McPherson Companies, Nissan Chemical Industries, Ltd, among Others. The report covers the market shares, capacities, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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