Global Diesel Exhaust Fluid Market: Snapshot
The global diesel exhaust fluid market has become increasingly volatile in its existence. Diesel exhaust fluid is a 32.5% solution of urea prepared in deionized water and is used to make the conversion of toxic nitrogen oxides in diesel engine exhausts into nitrogen and water. These waste products can not be released into the atmosphere without concern, since neither is a polluting ingredient. Steady growth on the account of the automotive industry.
The global diesel exhaust fluid market is valued at more than US $ 10.4 bn in 2017. According to Transparency Market Research, the market is expected to show a strong 7.1% CAGR in the 2017-2022 forecast period to rise to a valuation of US $ 14.4 bn ,
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Rising Demand for Mid-range Diesel Cars to Drive Demand from Diesel Exhaust Fluid Market
Diesel cars in the global automotive industry due to the need for diesel vehicles in the economy segments, which are rising in prominence due to the increasing disposable income of middle class consumers in emerging regions. Global automotive sector in the coming years, leading to a constant demand from the global diesel exhaust fluid market. Diesel vehicles are thus preferred in the transportation sector due to their high fuel efficiency. The global market for diesel fuel and fluid fuels in the coming years
Diesel Exhaust Fluid Bottles to Remain Dominant Contributor
The global diesel exhaust fluid market was dominated by the bottles segment in 2017, with the segment holding a share of 41.2%, followed by drums and IBCs. US $ 5,891.5 mn by 2022, exhibiting a CAGR of 6.9%, and is thus likely to retain clear dominance in a dynamic market.
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Key players in the global diesel exhaust fluid market include Yara International ASA, Total SA, SINOPEC, Cummins, CF International Holdings Inc., Valvoline, Royal Dutch Shell Plc, RelaDyne LLC, and GreenChem Solutions Ltd.