New York (US), April 28, 2023 (GLOBE NEWSWIRE) -- Diesel exhaust fluid Industry Overview
The MRFR study reports imply that the “Diesel exhaust fluid Market Research Report Information by Region and Technology - Forecast Till 2030”, the global Diesel exhaust fluid market is predicted to bolter substantially during the review era from 2022 to 2030 at a substantial growth rate of around 8.40%. The reports further predict the market will acquire nearly USD 35555.06 million by the end of 2030. As per the documents, the Diesel exhaust fluid market was valued at nearly USD 18649.5 million in 2021.
Market Scope
As per the definition, diesel exhaust fluid (DEF) reduces the amount of air pollution generated by diesel engines. In addition to this, it's sold under ARLA 32 and AUS 32. An aqueous phase of 67.5 percent deionized water and 32.5 percent urea, called DEF or AdBlue, is widely used in the automotive industry. Additionally, dehydrogenated ethanol is needed to operate an incorporated SCR technology in the off-road engine and heavy truck motors to fulfill rigorous Nitrogen oxide requirements.
Vehicles with inbuilt SCR technology require an extra tank to hold AdBlue for refueling. Once exposed to the flue gases, the SCR system splits DEF into carbon dioxide and ammonia. During the NOx-to-nitrogen-to-water reaction in the catalytic converter, the engine exhaust's harmful NOx molecules are converted to non-toxic nitrogen and molecules of water. Diesel engines usually require over 3percentage DEF in their fuel. The increasing requirement for diesel exhaust fluid in aerospace, maritime, and automobile end-use sectors may help fuel demand for this product's expansion globally. A rise in quantity demanded in the automotive sector and GHG emission restrictions across the globe are the primary aspects propelling the market's growth.
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Competitive Analysis
The listing of the prominent leaders across the global market for Diesel exhaust fluid includes players such as:
- Adeco doo (Siberia)
- BASF SE (Germany)
- Royal Dutch Shell PLC (The Netherlands)
- Yara (Norway)
- NOVAX Material & Technology Inc (China)
- Mitsui Chemicals Inc (Japan)
- GreenChem (Netherlands)
- BP p.l.c (UK)
- Nissan Chemical Corporation (Japan)
- co.za (Republic of South Africa)
- Borealis AG (Austria)
- Engen Petroleum Ltd (South Africa)
- Among others.
Report Scope:
| Report Attribute | Details |
| Market Size in 2030 | USD 35555.06 million |
| CAGR | 8.40 % (2022-2030) |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Historical Data | 2018 & 2020 |
| Forecast Units | Value (USD million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Type, Application, and Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Dynamics | Increasing demands for electric vehicles Rise in adoption of diesel exhaust fluid owing to increasing norms regulating carbon emissions |
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Market USP Covered
Market Drivers
The global Diesel exhaust fluid industry has lately demonstrated immense development. The primary parameter causing a surge in the performance of the market is the growing average age of vehicles across the globe. Furthermore, the factors such as average miles traveled, an increase in the number of vehicles on the road, diesel exhaust fluid replacement cycles, growing maintenance issues, bettering infrastructure, and technological advancements are also projected to enhance the market performance over the coming years.
Market Restraints
On the contrary, some parameters may restrict the market's development. The main parameter limiting the market's development is the rising environmental concerns. Furthermore, the increasing demand for electric cars globally is also anticipated to impede the market's growth over the assessment timeframe. Moreover, the crops are sown across the northern hemisphere at the beginning of the year across several countries. Owing to this, prices of urea are on the increase. When the winter crops are set to be nurtured, urea prices fall. Plantations accelerate the requirement for urea in agriculture, causing the urea price hike.
COVID-19 Impact
The COVID-19 pandemic has had a massive impact on several industry areas worldwide. The Diesel exhaust fluid market is no different than others. The market experienced a tremendous setback during the pandemic, given the halt of several industrial operations and manufacturing activities. However, with the world recovering from the impact caused by the global health hazard, the market is anticipated to grow considerably over the coming years.
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Segment Analysis
Among all the technologies, the selective catalytic reduction (SCR) segment secured the leading spot across the global diesel exhaust fluid market in 2021. The segment's growth is ascribed to the factors such as improved combustion efficiency and its simple design. The SCR system offers more power while using less gasoline. On the other hand, the Lean NOx Trap (LNT) segment is predicted to showcase the maximum growth rate over the coming years.
Regional Analysis
The global market for diesel exhaust fluid is analyzed across five major geographies: North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa.
The research reports by MRFR suggest that the Asia-Pacific region held the top position across the global Diesel exhaust fluid industry in the year 2021, with the largest contribution of around USD 8541.47 million. The regional market is predicted to thrive considerably at a healthy CAGR of approximately 45.80%. The main parameter supporting the regional market's growth is the growing demands across end-use industries. Furthermore, the growing concerns related to vehicle emissions across the region are also considered to be a vital parameter supporting the regional market's performance.
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The North American regional market for Diesel exhaust fluid is anticipated to grow considerably during the assessment period, given factors such as environmental protection, sustainable growth, an increase in demand for heavy- & medium-duty vehicles, and extensive industrial bases.
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