Growing Requirement for Heavy Duty Vehicles Driving Diesel Exhaust Fluid Market

Valued at $12,191.5 million in 2017, the global diesel exhaust fluid market is expected to generate a revenue of $20,518.0 million in 2023, registering an 8.8% CAGR during the forecast period (2018-2023). The factors positively impacting the growth of the market include the increasing demand for heavy duty vehicles and stringent environmental regulations. Diesel exhaust fluid, also known as AdBlue, is an aqueous solution that is produced by utilizing deionized water and urea with volume percentages of 67.5% and 32.5%, respectively.

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When storage solution is taken into consideration, the diesel exhaust fluid market is divided into dispensers, portable containers, and bulk storage. Among these, the bulk storage division dominated the market during the historical period (2013-2017), holding a share of more than 45.0% in 2017, in terms of value. This was because bulk storage solutions, such as indoor/outdoor storage tanks and bulk-shipment truckloads, are extensively utilized in medium and heavy-duty vehicles for storing AdBlue. During the forecast period, the dispenser division is projected to advance at the fastest CAGR.

The shifting demand from commercial to passenger vehicles is a key trend in the diesel exhaust fluid market. While before the market was mainly being driven by heavy and medium duty vehicles, now the demand for diesel exhaust fluid for utilization in passenger cars is increasing due to surging concern regarding environmental pollution. Before many North American and European countries made it mandatory for large and medium sized vehicles to install diesel exhaust fluid for reducing emissions and now the regulations regarding emissions from passenger cars are predicted to become strict as well.

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Geographical Analysis of Diesel Exhaust Fluid Market

Combined, North America and Europe are expected to account over 60.0% market share, in terms of value, by 2023. This is mainly credited to the strict environmental regulations in the regions, which make it mandatory for vehicles and other machines running on diesel to use AdBlue.

Other regions, which include APAC and LATAM, also hold considerable shares in the diesel exhaust fluid market, on account of the increasing demand for the transportation of goods. Moreover, owing to the high levels of vehicular pollution, several nations such as China, India, and, Brazil in these regions have either imposed or are in the process of imposing stringent emission norms. By implementing strict emission norms, fleet operators would be forced to install emission-control systems, which will boost the demand for diesel exhaust fluid.

Competitive Landscape of Diesel Exhaust Fluid Market

The global diesel exhaust fluid market, which is moderately consolidated, has BASF SE, Yara International ASA, Cummins Filtration Inc., GreenChem Holding B.V., China Petroleum & Chemical Corporation, and Kelas Environmental Protection Technology Co. Ltd. as the key players.

In May 2018, Yara International ASA acquired the Vale Cubatao Fertilizantes complex from Vale S.A. for a total transaction value of $255 million. The acquisition will help Yara International ASA tap the growing market for nitrogen-based products in Brazil.

Some other key companies are Nissan Chemical Corporation, CF Industries Holdings Inc., Mitsui Chemicals Inc., and TOTAL S.A.

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This release was published on openPR.