Diesel Exhaust Fluid Market to Reach $20,518 Million by 2023 Major Key Players Are BASF, Cummins Inc., China Petroleum, CF Industries And Others

Global diesel exhaust fluid market is projected to reach $20,518.0 million by 2023. The diesel exhaust fluid market is mainly driven by the introduction of stricter environmental regulations in different parts of the world along with rising sales of motor vehicles such as heavy- and medium-duty vehicles.

the diesel exhaust fluid market is categorized into bulk storage, dispensers, and portable containers. Globally, bulk storage held the largest share in the diesel exhaust fluid market, accounting for more than 45.0% share in terms of value in 2017. Large scale usage of bulk storage solutions for storing diesel exhaust fluid or AdBlue in heavy- and medium-duty vehicles will contribute to the growth in demand for the storage solutions.

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On the basis of applications, the diesel exhaust fluid market is bifurcated into vehicular and non-vehicular. Vehicular applications dominated the market as it contributed more than 95.0% share in terms of value in 2017. Stringent environmental regulations in the European and North American nations mandate the vehicle owners to reduce emission of harmful gases which in turn encourage them to bring down the emission levels by using AdBlue. This helps in sustaining the growth of diesel exhaust fluid market in vehicular applications.

The diesel exhaust fluid market is expected to witness the fastest growth in the APAC region, owing to the presence of fast growing economies such as China and India. The demand for transportation for facilitating the movement of goods is rising in these countries which has promoted the sales of heavy- and medium-duty vehicles. Moreover, rapid economic growth in these nations have also resulted in huge amount of vehicular pollution. Owing to the increased levels of vehicular pollution, these nations have either implemented or in the process to implement stringent emission norms.

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Traditionally, the diesel exhaust fluid market was driven by heavy- and medium-duty vehicles such as trucks and trailers. This was due to the fact that heavy- and medium-duty vehicles use diesel which leads to massive amount of vehicular pollution. On the other hand, the demand for diesel exhaust fluid in passenger cars remained low historically as there were limited regulations to check the emissions from passenger cars. However, with the growing environmental concerns, passenger cars operators are adopting the pollution control measures which have opened up avenues for diesel exhaust fluid market in passenger cars.

Some of the major players operating in the global diesel exhaust fluid market are Yara International ASA, BASF SE, GreenChem Holding B.V., Cummins Filtration Inc., Kelas Environmental Protection Technology Co. Ltd., China Petroleum & Chemical Corporation, CF Industries Holdings Inc., Nissan Chemical Industries Ltd., TOTAL S.A., and Mitsui Chemicals Inc.

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