Pune, April 25, 2023 (GLOBE NEWSWIRE) -- As per SNS Insider's report, the Diesel Exhaust Fluid Market was valued at USD 32.65 billion in 2022 and is projected to grow at a CAGR of 8.1% during the forecast period of 2023-2030, reaching a market size of USD 60.89 billion by 2030.
Market Report Scope
Diesel Exhaust Fluid, commonly known as DEF, is a clear, non-toxic, and non-flammable liquid used in diesel engines to reduce harmful emissions. It is a mixture of purified water and urea, a chemical compound that is synthesized from ammonia and carbon dioxide. The use of DEF in diesel engines has become increasingly important due to stricter emissions regulations that have been implemented in many countries around the world. DEF not only helps to reduce harmful emissions but also improves fuel efficiency and engine performance.
Market Analysis
The global diesel exhaust fluid market is driven by various factors, with population growth and increased personal consumption being two key drivers. As the world's population continues to grow, the need for transportation and logistics services is expected to rise, which will lead to an increase in demand for diesel engines. Furthermore, the growing disposable income of consumers in emerging economies is likely to fuel the demand for diesel-powered vehicles. The market is poised for growth, as the world's population is expected to reach new heights in the coming years. This growth will lead to an increase in demand for transportation and logistics services, which will, in turn, boost the demand for diesel engines.
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Impact of Recession
The impact of a recession on the diesel exhaust fluid market is complex and depends on various factors, including changes in consumer behavior, industry demand, and competition among suppliers. While a recession could potentially lead to increased demand for fuel-efficient vehicles and increased price competition among suppliers, it could also lead to decreased demand for diesel-powered vehicles and equipment and lower profitability for DEF suppliers.
Key Regional Development
The global diesel exhaust fluid market is expected to witness significant growth in the coming years due to various factors, including the presence of a large number of diesel-powered vehicles and strict emissions regulations. Among the different regions, North America is expected to dominate the market owing to its high number of diesel-powered vehicles and stringent emission norms. With the increasing need to reduce emissions and promote sustainable practices, the adoption of Adblue is expected to rise in North America.
Key Takeaway from Diesel Exhaust Fluid Market Study
- The market is expected to witness a significant surge in demand in the coming years, with the passenger car segment projected to lead the growth. Diesel exhaust fluid (DEF) is an essential component used in the selective catalytic reduction (SCR) technology that helps reduce harmful emissions from diesel engines.
- The SCR catalysts segment is expected to dominate the market due to the growing adoption of SCR technology in various industries, including automotive, marine, and industrial. The increasing awareness of environmental pollution and the need to comply
Recent Developments Related to Diesel Exhaust Fluid Market
- India Pistons Limited, a leading manufacturer of engine components, has announced a strategic partnership with Shaw Development, LLC, a US-based company that specializes in the design and manufacturing of diesel exhaust fluid (DEF) solutions. The partnership aims to establish a joint venture that will focus on the production of DEF solutions for the Indian market.
- RelaDyne, a leading provider of lubricants, fuel, and reliability services, has announced the acquisition of Orange Line Oil Company, Inc., a well-established distributor of automotive, commercial, and industrial lubricants in Southern California. The acquisition is part of RelaDyne's strategic expansion plan to strengthen its presence in key geographic regions and increase its product portfolio.
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Diesel Exhaust Fluid Market Report Scope:
| Report Attributes | Details |
| Market Size in 2022 | US$ 32.65 Billion |
| Market Size by 2030 | US$ 60.89 Billion |
| CAGR | CAGR of 8.1% From 2023 to 2030 |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2020-2021 |
| Key Segments | • By Vehicle Type (Passenger Cars, LCVs, HCVs) • By Component (SCR Catalysts, DEF Tanks, DEF Injectors, DEF Supply Modules, DEF Sensors, NOx Sensors) • By Application (Agricultural Tractors, Construction Equipment) • By Supply Mode (Cans & Bottles, IBCs, Bulk, Pumps), End Use Market (OE, Aftermarket) |
| Regional Analysis | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Old World Industries, LLC, Yara International ASA, Blue Sky Diesel Exhaust Fluid., Cummins Filtration, KOST USA, Inc., STOCKMEIER Group, The Potash Corporation of Saskatchewan, Certified DEF, CF Industries Holdings, Inc., Dyno Nobel, and other players. |
| Market Drivers | • Increasing average age of vehicles. • Improving infrastructure. |
Table of Contents
1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Diesel Exhaust Fluid Market Segment, By Vehicle Type
9. Diesel Exhaust Fluid Market Segment, By Component
10. Diesel Exhaust Fluid Market Segment, By Application
11. Diesel Exhaust Fluid Market Segment, By Supply Mode
12. Diesel Exhaust Fluid Market Segment, End Use Market
13. Regional Analysis
14. Company Profile
15.Competitive Landscape
16. Conclusion
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