Increasing Developments by Key Players Are Driving the Growth of the Global Diesel Exhaust Fluid Market

Diesel Exhaust Fluid Market
Diesel Exhaust Fluid Market

Diesel Exhaust Fluid Market, By Storage Solution (Bulk Storage Tanks, Portable Containers, Dispensers, and Others), By Vehicle Type (Passenger Cars and Commercial Vehicles), By End-Use (Original Equipment Manufacturers (OEM) and Aftermarket, By Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030.

Market Overview:

Diesel exhaust fluid (DEF) is a solution used in vehicles equipped with selective catalytic reduction (SCR) systems to reduce harmful emissions from diesel engines. It is composed of a mixture of urea and deionized water. DEF is a clear, non-toxic, and non-flammable fluid.

Competitive Landscape:

Major players operating in the global Diesel Exhaust Fluid Market include China Petrochemical Corporation (Sinopec), Brenntag AG, BASF SE, Shell PLC, and TotalEnergies.

Key Market Drivers:

Governments worldwide are implementing strict emission regulations to curb pollution from vehicles. The adoption of DEF and SCR technology is necessary to comply with these regulations. This is expected to augment the growth of the global diesel exhaust fluid for market. For instance, in January 2019, Brenntag acquired the lubricants division of Reeder Distributors, Inc.

Revenue for the global Diesel Exhaust Fluid Market was estimated at US$11.60 million in 2021, growing at a CAGR of 7.67% from 2022 to 2030.

The sale of diesel vehicles, including passenger cars, commercial vehicles, and off-road vehicles, is growing globally. As diesel engines are more fuel-efficient, the demand for DEF is increasing to ensure compliance with emission standards.

There is a rising awareness among consumers and fleet operators about the environmental impact of diesel emissions. This has led to increased demand for DEF, as it aids in reducing NOx emissions and improving air quality. This is estimated to enhance the growth of the global Diesel Exhaust Fluid Market.

The adoption of SCR technology is expanding beyond heavy-duty vehicles into light-duty vehicles and off-road equipment. This expansion is driving the demand for DEF globally.

Covid-19 Impact Analysis:

The COVID-19 pandemic had a mixed but significant impact on the global diesel exhaust fluid for market. The initial months of the pandemic resulted in a decline in demand due to the temporary shutdown of manufacturing units, restricted mobility, and reduced commercial activities. However, as economies gradually reopened, the market started to recover. The demand for DEF rebounded as the transportation sector regained momentum and the focus on emission reduction remained strong. For instance, in August 2021, SINOPEC and BASF will be expanding the Verbund site, which is operated by BASF-YPC Co., Ltd.

Key Takeaways:

· North America is expected to dominate the growth of the global diesel exhaust fluid for market, owing to the stringent emission regulations and the high adoption of SCR technology in heavy-duty vehicles. The region is witnessing a growing demand for DEF from various sectors, including transportation, construction, agriculture, and mining. For instance, in September 2019, Cummins Inc. launched advancements that are estimated to achieve low Nitrogen Oxide (NOx) emissions, which will reduce carbon footprint.

· Asia Pacific is estimated to witness high growth in the global Diesel Exhaust Fluid Market, owing to the expansion of the automotive sector and increasing awareness about emission control. China, India, Japan, and South Korea are key contributors to the market growth in this region. The implementation of emission regulations and the rising demand for commercial vehicles are driving the demand for DEF. For instance, according to India Today, the share of diesel cars in the PV volumes in India is around 18.61% currently.

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