The global diesel exhaust fluid market is substantially fragmented, with several key players operating in in the market, observes Transparency Market Research based on a recently published report. A large contribution of the bigwigs operating in this market is expected to provide a much needed boost to the overall revenue, thus also cementing their position in the market. Some of the prominent players in this market are: Total SA, CF International Holdings Inc., Yara International ASA, Valvoline, GreenChem Solutions Ltd., Royal Dutch Shell Plc, Cummins, SINOPEC, and RelaDyne LLC.
Sales based figures always exhibit a factual side of any market. Hence, we have provided revenues figures to corroborate the progress in the global diesel exhaust fluid market. As per the published report, this domain is anticipated to register a valuation of US$14.4 bn by 2022, which is substantially larger than its valuation recorded in 2017, which isUS$10.2 bn. This increase is expected to occur at a robust CAGR of 7.1% during the forecast period from 2017 to 2022.
Amongst several segments such as drums, bottles and IBCs under the pack size criteria, the fluid bottles category is expected to hold the leading position during the next few years. This is mainly due to the rising preference for diesel exhaust bottles as they are substantially handy, portable, and cost less. From a geographical perspective, the European region is anticipated to show maximum sales growth in diesel exhaust fluid, mainly due to rapid expansion of the automobile industry. North America and Asia Pacific are also expected to burgeon owing to a stabilizing automobile industry.
Better Diesel Fuel Efficiency in Vehicles to Boost Market
Every growing entity is backed up by certain factors, that continue to provide a boost, and the same is applicable to the global diesel exhaust fluid market. A significant cause for this activity involves a steadily improving modern landscape of the automotive industry, including its sub-sectors. A rapid rise among the masses to use diesel cars due to their low cost and higher fuel efficiency is another prominent factor for rise in demand of diesel fluids, thus being beneficial to the market. Rampant urbanization springing up all around the globe, especially in emerging economies is expected to boost the global diesel exhaust fluid market in upcoming years. Many urban communities have started gaining awareness about reducing the carbon footprint of the world, for which shifting to cleaner diesel fueled vehicles is seen as a prime option. In this way, rising concerns about environmental protection and resultant preference for diesel cars is a chief influence for the progress of global diesel exhaust fluid market.
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Countering the driving agents are a few restraints in the global diesel exhaust fluid market. Chief amongst these is the relatively lesser reach of diesel powered vehicles in many parts of the world. Besides, in many emerging economies, the availability of diesel at fuel pump stations is not always consistent, thus discouraging consumers from buying diesel powered vehicles, which affects the market negatively. However, this picture is soon expected to change as a lot of efforts are being made to improve the reach of diesel even in the most remote parts of the world to ensure that fuel shortage is avoided.
The information presented here is based on the findings of a report by Transparency Market Research, titled “Diesel Exhaust Fluid Market (Packaging – Bottles, Drums, and IBCs; Equipment Solution – Certified Pumps, Hoses, Nozzles, Mini-bulk Systems, Bulk Delivery Trucks, Box Delivery Trucks, Transport Trucks, and Tank Wagons; Vehicle Type – Passenger Cars, Farm Machinery, Mobile and Static Cranes, Airport and Dockside Vehicles, Construction Equipment, Mining Machinery, Tractors, Cranes, and Dumper Trucks) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 – 2022