Press release
Diesel Exhaust Fluid Market Seeking Excellent Growth 2020 – 2030|BASF SE(Germany),Yara (Norway),Mitsui Chemicals Inc (Japan)
Due to its eco-friendly nature, demand for DEF is increased enormously from the past decade and is expected to have a princely growth in 2021, over 2020. Prices of DEFs are slightly more, however, convenience in refilling for fleet help the vehicle owners.
Better fuel Efficiency and Optimized Combustion to Fuel Demand for Diesel Exhaust Fluid
Demand for DEF is driven owing to better optimised combustion, increased power, reduced maintenance, less wear and tear on the engine. With the usage of DEF, average age of vehicles is also increased by one to two years. Improved road infrastructures, launch of technological advancements for safety are also the drivers growing the market with a significant rate.
Diese Exhaust Fluid Market
Growing Prevalence of SCR technology
SCR technology is the preferred method for tier 4 Final and Euro 6 diesel emission standards used for heavy trucks. Prevalence of SCR is helping and making it easy for the consumers to switch to DEFs. Strict emission rules by various countries are acting as a growth prospect for the diesel exhaust fluid to grow. Increasing vehicles globally spreading air pollution is major factor to increase the sales of diesel exhaustive fluids.
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Decrease in Purchasing of Diesel Vehicles
DEF demand is directly related to usage of diesel vehicles. Decreasing demand of diesel vehicles among consumers in many regions globally may have a negative impact. Furthermore, diesel vehicles are slightly costlier than petrol driven vehicles may hamper the growth of the market.
Diesel Exhaust Fluid Market-Competitive Landscape
Prominent market players in diesel exhaust fluid market are:
BASF SE(Germany)
Yara (Norway)
Mitsui Chemicals Inc (Japan)
GreenChem (Netherlands)
Royal Dutch Shell PLC (Netherlands)
Engen Petroleum Ltd (South Africa)
BP p.l.c (UK)
China Petrochemical Corporation (China)
Total (France)
Recent developments in the market include:
In January 2020, BASF announced its acquisition with Solvay’s polyamide business. The acquisition will allow the company for better engineering plastics solution for the customers. The merger enhances the company’s access to growth markets globally specially in Asia.
In September 2019, Saudi Aramco, a Saudi Arabian Oil Company acquired 50% shares of Shell Saudi Arabia Limited in Jubail industrial city for USD 631 million.
Diesel Exhaust Fluid Market: Regional Outlook
North America continues to be the dominating market and is expected to hold the largest share during the forecast period owing to rising demand for commercial vehicles. Strict fuel and emission regulations by the government and availability of DEF tanks and other components are a key growth prospect.
Europe holds the second largest market share and is predicted to coincide with North America during the forecast period. Strict government regulations in various European countries regarding control of emissions is a major factor contributing towards the growth of the market. SCR technology has been installed in all diesel vehicles in the region to meet Euro6 rule that states only diesel exhaust fluids like ENOCBlue must be used.
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Diesel Exhaust Fluid Market-Segmentation
By Vehicle type
Passenger Cars
LCVs
HCVs
By Application
Construction Equipment
Agricultural Tractors
By Component
SCR Catalyst
DEF Tank
DEF Injector
DEF Supply Module
DEF Sensor
NOx Sensor
By Supply Mode
Cans & Bottles
IBC
Bulk
Pumps
By Region
North America
Europe
Asia-Oceania
Rest of the World
Which is the largest market for diesel exhaust fluid?
US and Europe are the leading markets for diesel exhaustive fluids owing to strict rules against air pollution and focus on making the region environment friendly is raising the demand.
Which segment is expected to grow highest in vehicle type?
As the production of LCs is growing globally, the LCV segment is expected to have a significant growth during the forecast period.
Which are the prominent diesel exhaust fluid manufacturers?
GreenChem (Netherlands), Royal Dutch Shell PLC (Netherlands), Engen Petroleum Ltd (South Africa), BP p.l.c (UK), etc. are the key players focussing on technological advancements.
How is the market classified by components?
By SCR catalyst, tank injector, supply module, sensor, etc. are the classifications of the component segment.
What are the key trends for diesel exhaustive fluid market?
Growing air pollution is affecting the climatic conditions tremendously. To stop making it worse, these little actions are important and thus, usage of diesel exhaustive fluid must be mandatory.
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TMR Research is a premier provider of customized market research and consulting services to business entities keen on succeeding in today’s supercharged economic climate. Armed with an experienced, dedicated, and dynamic team of analysts, we are redefining the way our clients’ conduct business by providing them with authoritative and trusted research studies in tune with the latest methodologies and market trends.
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