• Stacy Lawlor

Global Diesel Exhaust Fluid Market Size to grow by US$ 53.5 Bn in 2030

The global diesel exhaust fluid market was valued at USD 35.3 Bn in 2021. The market is projected to grow USD 53.5 Bn in 2030, at a CAGR of 6.5%.


Request Free Sample To Learn More About This Report


To reduce the emission of harmful chemicals like NOx, COx, and unburned particles from exhaust of vehicles and other machinery, primarily by NOx emissions act enforced in 2010 by the Environmental Protection Agencies (EPA) present throughout the world, environmental sustainability is one of the foremost issues entrusted to various automobile manufacturers and fossil fuel energy corporations. One of the key factors driving the expansion of the global diesel engine exhaust treatment fluid market is the rising demand for diesel engine exhaust treatment fluid in end-use sectors including marine, automotive, and aerospace. Strict limitations on greenhouse gas (GHG) emissions and rising demand for this product from the automobile industry further contribute to the market's expansion.


The need for heavy-duty vehicles, including as trucks and trailers, is also increasing quickly due to the rapid industrialization and upgrading of the logistics infrastructure to efficiently distribute commodities in remote places. Sales of trucks will benefit from the rising demand for heavy-duty vehicles. These elements are expected to favourably fuel the expansion of the global market for diesel exhaust fluid. The primary driver of the expansion of the worldwide diesel exhaust fluid market is the rising demand for diesel exhaust fluid (AdBlue) in end-use sectors including automotive, marine, and aerospace. The strict laws governing greenhouse gas (GHG) emission and an increase in demand for the product in the automobile industry both contribute to the market's growth.


Request Free Sample To Learn More About This Report


The diesel engine exhaust fluid market's annual growth rate is anticipated to slow in 2020 given the existing environment. The need for DEF is anticipated to increase as a result of the automotive sector's recovery, which would in turn fuel the market for diesel engine exhaust fluid. Due to difficulties with the supply chain, the workforce, and government preventive standards, auto sales and manufacture are not anticipated to fully resume even after the lockdown has been totally removed. In this case, the market for diesel exhaust fluid is anticipated to be moderately affected by the COVID-19 outbreak. The pandemic has had a particularly negative impact on major auto-producing nations including China, Japan, Germany, and the United Kingdom.


The def tank segment is expected to dominate the market share of global diesel exhaust fluid market owing to the usage of highly accurate reading devices across different end-uses. Customers prefer DEF dispensing systems because they make DEF replenishment convenient for fleet and other vehicle owners. The passenger car range segment is expected to dominate the market share of global diesel exhaust fluid market owing to the demand for passenger cars will rise as developing economies flourish all over the world. Increased commercial activity in the area is what is driving this demand. The aftermarket segment is expected to dominate the market share of global diesel exhaust fluid market owing to the large distribution network and reduce the cost of production significantly.


North America region is expected to dominate the market share of global diesel exhaust fluid market owing to the improvement in the business climate brought about by the economic situation has increased demand for machinery and cars with diesel engines. The country's emission standards will require improved solutions to enhance air quality as the demand for diesel rises.


Request Free Sample To Learn More About This Report


KEY INDUSTRY DEVELOPMENTS:


January 2022- TotalEnergies has announced to expand in Mozambique with the acquisition of BP’s retail network, wholesale fuel business and logistics assets. The transaction covers a network of 26 service stations, a portfolio of business customers and 50% in SAMCOL, the logistics company previously jointly owned by TotalEnergies and BP, which operates the Matola, Beira and Nacala fuel import terminals.


August 2021-BASF and SINOPEC will further expand their Verbund site operated by BASF-YPC Co., Ltd., a 50-50 joint venture of both companies in Nanjing, China which includes the capacity expansion of several downstream chemical plants that will help SINOPEC to increase distribution of DEF products.


Read More Details On This Report: https://extrapolate.com/Chemicals-and-Advanced-Materials/diesel-exhaust-fluid-market/25957

2 views