by Diesel exhaust fluid, also known as AdBlue, is an aqueous urea solution that is injected into the exhaust stream of diesel vehicles equipped with selective catalytic reduction (SCR) systems in order to reduce emissions of nitrogen oxides (NOx). AdBlue aids in breaking down the nitrogen oxides produced by diesel engines into harmless nitrogen gas and water vapor. With stringent emission norms restricting the sulfur content in automotive diesel fuel across countries worldwide, the global diesel exhaust fluid market is witnessing strong growth. The global Diesel Exhaust Fluid Market is estimated to be valued at US$ 11.60 Mn in 2023 and is expected to exhibit a CAGR of 7.6% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The growing adoption of ultra-low sulfur diesel (ULSD) across industries such as automotive, construction, mining, and agriculture is propelling the demand for diesel exhaust fluid. ULSD helps reduce harmful emissions and comply with emission standards. Several countries have mandated the use of ULSD in diesel-powered vehicles and equipment. For instance, the EPA regulation restricting sulfur content in highway diesel fuel to 15 ppm (parts per million) has boosted the sales of AdBlue. The widespread shift to ULSD will continue augmenting the consumption of diesel exhaust fluid during the forecast period.
SWOT Analysis
Strength: Diesel Exhaust Fluid has become mandatory for selective catalytic reduction systems in diesel vehicles to reduce harmful emissions. This bolsters the demand for the product.
Weakness: Frequent refilling requirements and additional costs associated with diesel exhaust fluid is a deterrent for some customers.
Opportunity: Stringent emission norms enforced by governments worldwide to curb air pollution opens up opportunities for diesel exhaust fluid market.
Threats: Development of alternative emission reduction technologies can pose a potential threat to the diesel exhaust fluid market.
Key Takeaways
The global diesel exhaust fluid market is expected to witness high growth.
Regional analysis comprises Asia Pacific holds the major share in the global diesel exhaust fluid market currently. The region is home to some of the most populated and fast developing countries such as China and India. This is contributing significantly to the growth of diesel vehicles, in turn boosting the need for diesel exhaust fluid.
Key players operating in the diesel exhaust fluid market are Yara International, BASF SE, CF Industries Holdings Inc., Agrium Inc., Cummins Inc., Shell ROTELLA (Royal Dutch Shell Inc.), Mitsui Chemicals Inc. and KOST USA. Yara International and BASF SE are the global leaders in diesel exhaust fluid production.
*Note:
1.Source: Coherent Market Insights, Public sources, Desk research
2.We have leveraged AI tools to mine information and compile it
