Diesel Exhaust Fluid Market Insights, Leading Players, Growth and Future Scope

The increasing implementation of stringent regulations by the governments of many countries, especially in Asia, Europe, and North America, for mitigating vehicular emissions and improving fuel efficiency is fueling the demand for diesel exhaust fluid (AdBlue). For instance, the U.S. upgraded its emission regulations from the United States Environmental Protection Agency (USEPA) Tier 2 to USEPA Tier 3 in 2017. This was done to achieve a huge reduction in the emission of greenhouse gases from vehicles. Likewise, Euro 6 standards were enacted in Europe recently and the region is in the process of enacting more stringent amendments in the forthcoming years for reducing greenhouse gas emissions.

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Additionally, the extensive usage of medium- and heavy-duty commercial vehicles such as construction and mining vehicles and trucks, on account of the rising industrialization rate, increasing construction activities, and improving logistics infrastructure, is also propelling the requirement for AdBlue across the world. Moreover, these vehicles are being used for delivering goods in remote and far-flung areas. According to various reports, the sales of trucks will rise to nearly 4 million by 2023, which will, in turn, push up the requirement for diesel exhaust fluid.

According to the estimates of the market research company, P&S Intelligence, the value of the market will surge from $12,191.5 million in 2017 to more than $20,518.0 million by 2023, while the market will progress at a CAGR of 8.8% from 2018 to 2023. Portable containers, bulk storage, and dispensers are the main storage solutions used for storing AdBlue. Out of these, the demand for bulk storage solutions was found to be the highest in 2017.

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This is credited to the large-scale use of this fluid by various heavy-duty vehicles such as trucks, in which storage tanks and drums are used for storing the fluid. Additionally, with the burgeoning need for product transportation, the number of heavy-duty trucks is soaring, which is driving the requirement for bulk storage solutions. Geographically, the demand for diesel exhaust fluid is expected to rise at the fastest pace in the Asia-Pacific (APAC) region in the upcoming years, owing to the surging requirement for transportation for facilitating the movement of goods in the region.

Hence, it can be said with surety that the demand for AdBlue will soar in the coming years, on account of the surging usage of medium- and heavy-duty vehicles such as trucks and trailers and the increasing implementation of stringent emission regulations by the governments of several countries around the world.

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About P&S Intelligence

P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.

This release was published on openPR.