Coherent Market Insights

Diesel Exhaust Fluid Market was valued at US$ 11.60 Mn in 2021

Diesel Exhaust Fluid Market was valued at US$ 11.60 Mn in 2021 - Coherent Market Insights

Publish In: Dec 16, 2022

Global Diesel Exhaust Fluid Market is estimated to be valued at US$ 11.60 Mn in 2021, according to the Global Diesel Exhaust Fluid Market Report, by Storage Solution (Bulk Storage Tanks, Portable Containers, Dispensers and Others), by Vehicle Type (Passenger Cars and Commercial Vehicles), by End-Use (Original Equipment Manufacturers (OEM) and Aftermarket, by Region (North America, Europe, Asia-pacific, Latin America, Middle East & Africa), published by Coherent Market Insights.  

Global diesel exhaust fluid market was valued at US$ 11.60 Mn in 2021. Diesel exhaust fluid market is expected to register a CAGR of 7.67 % over the forecast period (2022–2030), to reach US$ 22.54 Mn by 2030.

Key factors such as growing demand for diesel exhaust fluid in off-road diesel engines such as portable generators, excavators, and tractors, stringent regulations executed on NOx emission through diesel engines by regional environmental protection authorities, significant growth of automotive industry across the world along with rise in sales of passenger & commercial vehicles are fueling growth of global diesel exhaust fluid market. Moreover, favorable growth of Original Equipment Manufacturers market is projected to have positive impact on growth of diesel exhaust fluid market throughout the forecast period. Increasing demand for diesel exhaust fluid is an immense opportunity for diesel exhaust fluid storage service providers and raw material suppliers to invest into the market. However, changing consumer preference towards electric vehicles, fluctuating urea prices across regions, adulteration of diesel exhaust fluid are major challenges for market growth.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/diesel-exhaust-fluid-market-1263

Key Trends and Analysis of the Global Diesel Exhaust Fluid Market:

  • Among storage solution, bulk storage tanks segment accounted for highest revenue share in global diesel exhaust fluid market in 2021. Owing to higher capacity and ease of installation & maintenance, the segment is projected to retain its dominance throughout the forecast period.
  • Among vehicle type, commercial vehicle segment dominated global diesel exhaust fluid market in 2021.

Key Takeaways of the Global Diesel Exhaust Fluid Market:

  • North America held highest market share in global diesel exhaust fluid market in 2021. The growth of diesel exhaust fluid market in North America is mainly attributed due to strict NOx emission regulations implemented by Environmental Protection Agency (EPA). In order to meet the 2010 diesel emission standard, several diesel engine manufacturers in North America, employed Selective Catalytic Reduction (SCR) as an after-treatment technology combined with Exhaust Gas Recirculation (EGR).
  • Asia Pacific is projected to indicate significant growth in global diesel exhaust fluid market throughout the forecast period. In Asia Pacific, favorable growth of automotive industries in emerging economies such as China, India is expected to create growth opportunities for Asia Pacific diesel exhaust fluid market. According to India Brand Equity Foundation study, domestic sales of passenger vehicles in India is expected to increase at a CAGR of 12.87% during the forecast period
  • Key players operating in global diesel exhaust fluid market includes Yara International, BASF SE, CF Industries Holdings Inc., Agrium Inc., Cummins Inc., Shell ROTELLA (Royal Dutch Shell Inc.), Mitsui Chemicals Inc. and KOST USA among others. Key players are strategically investing in the diesel exhaust fluid market to expand their production capacity.

 

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