Diesel Exhaust Fluid Market to Exhibit 7.1% CAGR With Rising Awareness for Automobile Maintenance - TMR

ALBANY, New York, November 14, 2018 /PRNewswire/ --

The global diesel exhaust fluid market is estimated to witness a remarkable growth in the years to come due to the widespread utility realization for making eco-friendly diesel engines, as reported by Transparency Market Research (TMR). Leading vendors are making efforts to improve both the performance and quality of the products so as to gain a strong foothold in the market and give tough competition to the other vendors. Due to the presence of all kinds of vendors namely small, medium and large in the market, the level of competition is different for different levels. Since the nature of the market is fragmented, it is difficult to foretell which is company is leading and which is finding it difficult to sustain itself in the market.

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Some of the prominent players of the global diesel exhaust fluid market are GreenChem Solutions Ltd, RelaDyne LLC., Shell Rotella (Royal Dutch Shell plc), China Petroleum and Chemical Corporation (SINOPEC), Yara International ASA, Cummins, and CF International Holdings, Inc. Established players are planning to enter into local markets using them as a platform for growth and development. Thus, merger and acquisition strategies along with research and development plans are the main focus of various players so as to generate larger revenues in the long run.

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As per the reports by TMR, the global diesel exhaust fluid market is forecasted to reach a valuation of US$14.4 bn by the end of 2022. The forecast period is set to 2017 to 2022 and the market is estimated to show a remarkable CAGR of 7.1% during this period. As per the previous records of 2017, the market value was worth US$10.4 bn, thus, there is high expectancy of growth and generation of more revenue of the diesel exhaust fluid market in the long run. As per the segmentation by standard packing sizes, the market is seen to be dominated by bottles rather than drums with a total share of 41.2%. The CAGR of this segment is anticipated to reach 6.9% and continue its dominance in the years to come.

From a geographical point of view, the global market for diesel exhaust fluid is seen to be dominated by Europe with 6.9% CAGR within the forecast period. This is being followed by North America with a value expectation of US$3,147.1 mn by the end of 2022 from US$2,275.2 mn exhibited in 2017. North America is seen to be exhibiting a CAGR of 6.7% and may give tough competition to the market in Europe in the coming years. However, Asia Pacific accounted for a revenue share of 24.7% and is prognosticated to gain a larger hold of the market with a stronger CAGR of 6.7%.

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Reduction of Vehicular Nitrogen Oxides to Boost Market Growth 

The market for diesel exhaust fluid is anticipated to be fuelled by a number of factors like the usage of diesel fluids in automotive engines in order to reduce nitrogen oxide emission. Nitrogen oxides may hamper the performance of vehicles and therefore need to be checked with the help of diesel exhaust fluids. Moreover, if vehicles are regularly served with diesel exhaust fluids, it increases the efficiency of the engine, thus acting as a boost to the market for growth and more revenue generation.

Lack of Proper Vehicle Care to Hamper Market Growth 

Although vehicle maintenance procedures are provided in detail in manuscripts and also instructed to buyers from manufacturers, most of the vehicle owners are ignorant towards regular testing of their vehicles and timely repairs. Because of this, not only the longevity of cars be reduces but also the diesel exhaust fluid market may have to face loss. However, increase in awareness about environment, along with the efforts and smart marketing of automobile companies may further add a boost to the overall growth of the diesel exhaust fluid market in the future.

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The above review is based on a report by TMR, titled," Diesel Exhaust Fluid Market (Packaging - Bottles, Drums, IBCs; Equipment Solution - Certified Pumps, Hoses, Nozzles, Mini-bulk Systems, Bulk Delivery Trucks, Box Delivery Trucks, Transport Trucks, Tank Wagons; Vehicle Type - Passenger Cars, Farm Machinery, Mobile and Static Cranes, Airport and Dockside Vehicles, Construction Equipment, Mining Machinery, Tractors, Cranes, Dumper Trucks) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022".

Global Diesel Exhaust Fluid Market can be segmented into the following: 

Global Diesel Exhaust Fluid Market by Pack Size 

• Bottles
• Drums
• IBCs

Global Diesel Exhaust Fluid Market by Region 

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SOURCE Transparency Market Research