Global Diesel Exhaust Fluid Market to surpass US$ 24.90 Billion by 2025
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. For instance, Germany is a leading Automotive and Original Equipment Manufacturers (OEM) market in Europe. According to European Automobile Manufacturers Association, in 2017, there are total 41 working OEM sites in Germany. 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.
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However, changing consumer preference towards electric vehicles, fluctuating urea prices across regions, adulteration of diesel exhaust fluid are major challenges for market growth.
Key Takeaways of the Market: North America held highest market share in global diesel exhaust fluid market in 2016. 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 (2016-26).
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. For instance, in April 2017, Agrium Inc. successfully commissioned its new urea plant in Borger, Texas. The new urea plant has a capacity of 610,000 tons of urea out of which 100,000 will be manufactured for diesel exhaust fluid.
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