Reducing Emissions with Diesel Exhaust Fluid - 2024 Outlook

The Business Research Company recently released a comprehensive report on the Global Diesel Exhaust Fluid Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The diesel exhaust fluid market size has grown strongly in recent years. It will grow from $33.9 billion in 2023 to $36.83 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to stringent emission regulations, adoption of selective catalytic reduction (SCR) technology, growth in commercial vehicle sales, expansion of industrial and agricultural sectors, rise in freight transportation, awareness and compliance initiatives, and infrastructure development.

The diesel exhaust fluid market size is expected to see strong growth in the next few years. It will grow to $51.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%. The growth in the forecast period can be attributed to increased production of diesel vehicles, electrification of fleet management, growth in marine and rail applications, urbanization and infrastructure projects, a rise in aftermarket sales, sustainability, and environmental goals. Major trends in the forecast period include technological advancements in def production, integration with telematics and IoT, the development of alternative emission reduction technologies, the expansion of def refilling infrastructure, the adoption of digital platforms for supply chain management, biodegradable and eco-friendly def alternatives, and enhanced def quality standards.

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Market Drivers and Trends:

A rise in interest in heavy-duty vehicles is expected to propel the growth of the diesel exhaust fluid market going forward. Heavy-duty vehicles refer to large and robust vehicles designed for demanding tasks such as long-distance transportation of goods, construction, and industrial applications. The increasing interest in heavy-duty vehicles is due to their versatility, reliability, and ability to efficiently transport large quantities of goods over long distances. Heavy-duty vehicle manufacturers are increasingly integrating diesel exhaust fluid (DEF) systems into their engines to comply with emissions regulations, reduce environmental impact, and enhance fuel efficiency, thereby ensuring sustainability and regulatory compliance while meeting the demands of modern transportation needs. For instance, in May 2024, according to the Board of Governors of the Federal Reserve System, a US-based government agency, total heavy truck production reached 9.71 million units in April, representing a notable increase from the 8.86 million units recorded in January. Therefore, a rise in interest in heavy-duty vehicles drives the diesel exhaust fluid market.

Major companies operating in the diesel exhaust fluid market are focusing on developing innovations, such as specialized additives for diesel exhaust fluid (DEF) systems. Specialized additives for diesel exhaust fluid (DEF) systems are designed to address specific challenges and enhance the performance of the SCR (Selective Catalytic Reduction) systems in diesel vehicles. For instance, in February 2024, Liqui Moly GmbH, a Germany-based company specializing in oils, lubricants, and additives, launched an additive designed explicitly for AdBlue, or Diesel Exhaust Fluid (DEF). DEF Anti Crystal Additive Concentrate, aims to protect the Selective Catalytic Reduction (SCR) system in diesel vehicles from potential damage caused by the crystallization and freezing of AdBlue solution. The additive lowers the temperature required for the Leidenfrost effect, which promotes residue-free decomposition of AdBlue solution and inhibits crystal formation. It also reduces the AdBlue solution's freezing point, ensuring continued functionality even in sub-zero temperatures.

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Major Key Players of the Market:

Sinopec Group, Shell PLC, TotalEnergies SE, Mitsui Chemicals Inc., BASF SE, Honeywell International Inc., Air Liquide S.A., Cummins Inc., Yara International ASA, Brenntag AG, CF Industries Holdings Inc., Graco Inc., Nissan Chemical Corporation, Wien Energie GmbH, Agrium Inc., McPherson Company, GreenChem Industries LLC, Sun Exchange AG, Ahuja Global Corporation, Electrify Asia Limited, Pexapark, Share And Charge GmbH, SunContract Pte. Ltd., LO3 Energy Inc, Electron Pty Ltd, FlexiDAO GmbH

Diesel Exhaust Fluid Market 2024 Key Insights:

• The diesel exhaust fluid market size is expected to see strong growth in the next few years. It will grow to $51.5 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.
• Heavy-Duty Vehicles Fueling Diesel Exhaust Fluid Market Expansion
• Advanced Additives For Enhanced Diesel Exhaust Fluid (DEF) Performance
• North America was the largest region in the diesel exhaust fluid market in 2023

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This release was published on openPR.