Global is projected to reach $20,518.0 million by 2023. The diesel exhaust fluid market is mainly driven by the introduction of stricter environmental regulations in different parts of the world along with rising sales of motor vehicles such as heavy- and medium-duty vehicles.
the diesel exhaust fluid market is categorized into bulk storage, dispensers, and portable containers. Globally, bulk storage held the largest share in the diesel exhaust fluid market, accounting for more than 45.0% share in terms of value in 2017. Large scale usage of bulk storage solutions for storing diesel exhaust fluid or AdBlue in heavy- and medium-duty vehicles will contribute to the growth in demand for the storage solutions.
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the diesel exhaust fluid market is categorized into bulk storage, dispensers, and portable containers. Globally, bulk storage held the largest share in the diesel exhaust fluid market, accounting for more than 45.0% share in terms of value in 2017. Large scale usage of bulk storage solutions for storing diesel exhaust fluid or AdBlue in heavy- and medium-duty vehicles will contribute to the growth in demand for the storage solutions.
The diesel exhaust fluid market is expected to witness the fastest growth in the APAC region, owing to the presence of fast growing economies such as China and India. The demand for transportation for facilitating the movement of goods is rising in these countries which has promoted the sales of heavy- and medium-duty vehicles. Moreover, rapid economic growth in these nations have also resulted in huge amount of vehicular pollution.
Traditionally, the diesel exhaust fluid market was driven by heavy- and medium-duty vehicles such as trucks and trailers. This was due to the fact that heavy- and medium-duty vehicles use diesel which leads to massive amount of vehicular pollution. On the other hand, the demand for diesel exhaust fluid in passenger cars remained low historically as there were limited regulations to check the emissions from passenger cars.
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Moreover, due to the rising income levels, these countries have emerged as a one of the most lucrative automobile markets in the world. For instance, in 2017, around 90 million passenger cars were sold in the world, out of which more than a quarter were sold in China alone. The rising sales of automobiles is expected to boost the consumption of anti-pollutant fluids thereby encouraging the growth of diesel exhaust fluid market.
Some of the major players operating in the global diesel exhaust fluid market are Yara International ASA, BASF SE, GreenChem Holding B.V., Cummins Filtration Inc., Kelas Environmental Protection Technology Co. Ltd., China Petroleum & Chemical Corporation, CF Industries Holdings Inc., Nissan Chemical Industries Ltd., TOTAL S.A., and Mitsui Chemicals Inc.
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