Global Diesel Exhaust Fluid Market: Overview
Diesel exhaust fluids are a key component of diesel engines due to the benefit they provide in terms of reducing the polluting content of the exhaust. Rising environmental concerns have driven the adoption of innovations such as diesel exhaust fluids and are likely to propel the global diesel exhaust fluid market at a robust rate in the coming years. It is a 32.5% solution of urea in deionized water and allows diesel engines to convert the abundant nitrogen oxides in their exhausts to harmless nitrogen and water. The global diesel exhaust fluid market has been driven by the exhaustive support being given to environmental conservation programs by a number of governments across the world, which has driven steady investment into the development of reliable diesel exhaust fluids.
The report discusses the growth trajectory of the global diesel exhaust fluids market in detail by providing an assessment of the historical figures exhibited by the market between 2012 and 2017. The 2016 figures for the global diesel exhaust fluid market are analyzed in detail to derive reliable conclusions regarding how the market is likely to progress in the years till 2022. The segmentation of the global diesel exhaust fluid market as well as its competitive landscape are given a thorough examination in the report in order to provide readers with a clear view of the market’s dynamics and how they will affect disparate parts of the market.
According to Transparency Market Research, the global diesel exhaust fluid market was valued at US$10,241.5 mn in 2017. Exhibiting a robust 7.1% CAGR between 2017 and 2022, the market’s valuation is expected to rise to US$14,445.5 mn over the forecast period.
Global Diesel Exhaust Fluid Market: Dynamics
The prime factor driving the development of the global diesel exhaust fluid market is the growing government support to the widespread adoption of diesel exhaust fluid. Governments in several countries have come up with legislation to promote or even mandate the use of diesel exhaust fluids, leading to rapid growth of the diesel exhaust fluid market in several regions.
The booming automotive industry is likely to be an important driver for the global diesel exhaust fluid market in the coming years. Growing demand from middle-class consumers has driven the global automotive industry at a steady rate in the last few years, with diesel cars becoming a key part of the product lineup of several car brands due to the higher fuel efficiency they provide. This is likely to drive the use of diesel exhaust fluid in many regions where the consumer vehicle industry has shown strong promise.
Global Diesel Exhaust Fluid Market: Segmentation
By pack size, the global diesel exhaust fluid market is segmented into bottles, drums, and IBCs. Of these, diesel exhaust fluid bottles (1 and 2.5 gallons) are likely to dominate the global market in the coming years due to their widespread use and diverse usability. The bottles segment of the global diesel exhaust fluid market accounted for US$4,221.8 mn in 2017 and is likely to rise at a CAGR of 6.9% between 2017 and 2022. The segment’s share in the global diesel exhaust fluid market is, however, expected to drop from 41.2% in 2017 to 40.8% by 2022.
Geographically, the global diesel exhaust fluid market is significantly fragmented, as North America, Europe, and Asia Pacific all hold dominant shares and are likely to retain a steady dominance in the coming years.
Global Diesel Exhaust Fluid Market: Competitive Dynamics
Leading players in the global diesel exhaust fluid market include Yara International ASA, Total SA, SINOPEC, Cummins, CF International Holdings Inc., Valvoline, Royal Dutch Shell Plc, RelaDyne LLC, and GreenChem Solutions Ltd.