Diesel Exhaust Fluid Market: Technological Advancements and Future Opportunities and Current Industry Trends

The Diesel Exhaust Fluid Market is projected to grow at a CAGR of 13.06% from 2017 to 2022, to reach a market size of USD 21.57 billion by 2022. The aftermarket is primarily driven by the increasing number of vehicles on the road, stringent emission standards, average miles driven, and frequent re-filling of DEF and other factors.

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Major Developments:

Total S.A. announced an investment of USD 1 billion to develop and accelerate the innovation of low emission technologies. The company will finance some of the potential projects.

PotashCorp announced that once the anticipated merger with Agrium (Canada) is complete, the resultant company will be named Nutrien. The ongoing process of regulatory review and approvals for the merger is expected to complete by the third quarter of 2017.

Yara International established two new terminals as a part of its continental expansion plan. These new deep-water terminals will help Yara send its DEF to its distributors and fleets on the U.S. coasts.

Yara International signed an agreement with Cisa Agro, a Managua-based company, to expand its share in central America by 2020.

Graco Inc. developed Graco Blue, a DEF dispensing solution to reduce vehicle emissions in automobiles, buses, heavy-duty trucks, and off-road vehicles. The solution will help prevent contamination of DEF fluid, and provide superior performance for applications with long runs up to 200 feet.

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Some of the key manufacturers operating in the market are Yara International (Norway), China Petrochemical Corporation (Sinopec) (China), CF International Holdings, Inc. (U.S.), Total S.A. (France), and BASF SE (U.K.). There are certain key innovators gaining attention in the diesel exhaust fluid market including Nissan Chemical Industries, Ltd. (Japan) and Shaw Development LLC (U.S.).

Stringent emission norms and increase in average miles driven to foster the Diesel Exhaust Fluid Market growth.

Rising stringency for vehicular emission and fuel efficiency regulations in North America, Europe, and Asian countries is responsible for the increase in diesel vehicles with SCR. Emission regulations in the U.S. and Europe are considered most stringent in the world, in terms of emission limits. Hence, there has been significant growth in emission control technologies for vehicles in these countries. For example, in Europe, under the Euro III norms, the NOx emission level was set at 5.0 g/kWh, which then declined by around 92% to reach 0.4 g/kWh under Euro VI norms. Owing to such strict targets set under Euro VI norms, OEMs and Tier-1 manufacturers are employing SCR in diesel vehicles. SCR helps in reducing NOx from exhaust gases and keeps the environment safe from harmful pollutants. Additionally, the demand in the DEF aftermarket is influenced by factors such as increasing average age of vehicles, improving infrastructure, growing number of vehicles on the road, average miles are driven, the replacement cycle of DEF, and growing concern towards vehicle maintenance.

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North America is estimated to be the largest aftermarket for DEF during the forecast period. The U.S., Canada, and Mexico collectively account for the highest number of vehicles on the road. According to MarketsandMarkets analysis, the number of vehicles on the road in the U.S. will increase from 264.2 million units in 2015 to 289.4 million units by 2022. In addition, with the implementation of stringent Tier 2 emission regulations in 2010, 95–98% of the HCVs in the U.S. are already equipped with SCR systems. Thus, the diesel exhaust fluid aftermarket is the largest in this region.

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