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Pharmacy benefit management market
Diesel Exhaust Fluid (Adblue) Market Report Overview
The global diesel exhaust fluid (adblue) market size was USD 3537.6 million in 2022 and is projected to touch USD 11413.65 million by 2031, at a CAGR of 13.9% during the forecast period.
A diesel engine's emissions of diesel exhaust fluid (DEF), also known as AUS 32 and sold as AdBlue, are used to lessen air pollution. DEF is a specific name for an aqueous urea solution that contains 67.5% deionized water and 32.5% urea. SCR, which reduces the amount of nitrogen oxides (NOx) in diesel exhaust emissions from a diesel engine, consumes DEF as part of the process.
COVID-19 Impact: Intrinsic COVID-19 Condition Curtailed the Market Growth
The global COVID-19 pandemic has been unprecedented and staggering, with the diesel exhaust fluid (adblue) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to diesel exhaust fluid (adblue) market growth and demand returning to pre-pandemic levels once the pandemic is over.
Since its global expansion in December 2019 due to the development of a novel coronations infection that had its origins in Wuhan, China, the pandemic has posed a serious threat to public health. The World Health Organization (WHO) classified Covid-19 a pandemic on March 11, 2020, and has urged governments to act quickly and forcefully to stop the epidemic. A lot has changed as a result of the current new coronations disease outbreak (COVID-19), especially the automotive industry. The growth of the diesel exhaust fluid (Adblue) market growth has been impacted by the fall in demand for transportation and cars. However, transportation for necessities ensures the maintenance of the entire value chain and to some part maintains the demand for Adblue.
LATEST TRENDS
"Upgraded Infrastructure and Progressive Industrialization to Augment the Market Demand"
Increased demand for heavy-duty trucks, improved infrastructure, and ongoing industrialization have all significantly boosted the AdBlue market in India. Additionally, the low cost of production and growing use of Adblue in farm equipment have also fueled the Indian Adblue Market, which is focused on agriculture. The need for the substance in farms is growing as a result of the Adblue's widespread use in agricultural equipment like tractors, pumps, and harvesters. Furthermore, it is anticipated that during the projection period, its advantageous role in reducing hazardous gas emissions would present attractive economic opportunities.
Diesel Exhaust Fluid (Adblue) Market Segmentation
- By Type
Based on type the diesel exhaust fluid (adblue) market is classified into Pack (Below20L), Pack (20L~200L) and Pack (200L~1000L).
Pack (below 20L) is the leading part of the type segment.
- By Application
Based on application the diesel exhaust fluid (adblue) market is classified as commercial vehicle, passenger car and others.
Commercial vehicle is the leading part of the application segment.
DRIVING FACTORS
"Rising Adoption of Navigation System Across Different End-Users to Drive the Market Growth"
The main factors influencing the market's expansion are the stricter carbon emission standards established by the government and automotive manufacturers, as well as the rise in sales of passenger and commercial vehicles. The demand for fuel-efficient AdBlue lubricant is likely to increase due to the rapidly expanding automotive industry, the development of hybrid selective non-catalytic reduction (SNCR), and the adoption of SCR technology in passenger vehicles. This will likely result in profitable opportunities for market participants-sales of heavy and medium-duty cars, which contribute significantly to air pollution, have been boosted by the expanding transportation requirements to support the movement of commodities and the growing population. All of these new and old vehicles must reduce carbon emissions in order to comply with laws, which makes SCR technology of Adblue more likely to be adopted.
"Low Pollution and Less Expensive Maintenance to Diversify the Market Share"
NOx emissions are toxic chemicals that severely pollute the air and are frequently blamed for acid rain and the expanding greenhouse effect. On the other hand, nitrogen and water can be released into the atmosphere without harm. Nitrogen oxide (NOx) emissions are divided into nitrogen and water by diesel exhaust fluid, which also controls dangerous climate releases. Additionally, the superior design of engines with SCR systems allows for reduced engine deterioration over the course of their useful lives. Technology using diesel exhaust fuel lessens the requirement for maintenance and the likelihood of failure. Both fuel economy and engine performance are enhanced.
RESTRAINING FACTORS
"Rise in the Demand for Electrical Vehicles to Curtail the Market Growth"
Electric car use is rising, which reduces environmental pollution, global warming, and dependence on petroleum. The government of India and China have created programmes to raise public knowledge about environmental pollution, its health effects, and potential cures in response to the rise in pulmonary ailments brought on by dirty air. The government has launched a number of programmes to promote the use and creation of electric vehicles. And because it has benefits like cheap maintenance, increased efficiency, fast running speed, and quick response, electric car makers like employing India diesel exhaust fluid (adblue) in automobiles.
Diesel Exhaust Fluid (Adblue) Market Regional Insights
"North America To Dominate the Market With Presence of Cameras in Electronic and Automotive devices"
As vehicles and industries become more portable and increasingly usable, the number of diesel exhaust fluid (adblue) employed is aggressively expanding. According to market research and predictions, the diesel exhaust fluid (adblue) market share in North American region is estimated to be a huge market in total sales in 2021 and considered to keep growing by the forecasted period. Additionally, the low pollution and less expensive maintenance is anticipated to fuel the market expansion for diesel exhaust fluid (adblue) throughout the course of the research period.
KEY INDUSTRY PLAYERS
"Prominent Manufacturers to Contribute Towards Expansion of Market"
The report is an extensive research which presents the historic and futuristic performance of industry with competitive landscape analysis which incorporates prominent key players, and revenue trends of industry. The report provides substantial analysis of company profiling, growth insights, supply-demand chain, production and consumption demand, business expansion strategies adopted by top key players. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and other factors.
List of Market Players Profiled
- BASF SE (Germany)
- Yara (Norway)
- Mitsui Chemicals Inc (Japan)
- BP p.l.c (U.K.)
- Viscol.co.za (Republic of South Africa)
- Engen Petroleum Ltd (South Africa)
- Borealis AG (Austria)
- Nissan Chemical Corporation (Japan)
- GreenChem (Netherlands)
- NOVAX Material & Technology Inc (China)
- Royal Dutch Shell PLC (Netherlands)
- Adeco doo (Siberia).
REPORT COVERAGE
The report anticipates a detailed analysis of the global market size at the regional and national level, the segmentation market growth and market share. The prime objective of the report is to help user understand the market in terms of definition, market potential, influencing trends, and the challenges faced by the market. Analysis of sales, the impact of the market players, recent developments, opportunity analysis, strategic market growth analysis, territorial market expansion, and technological innovations are the subject matter explained in the report.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 3537.6 Million in 2022 |
Market Size Value By |
US$ 11413.65 Million by 2031 |
Growth Rate |
CAGR of 13.9% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered |
Type and Application |
Frequently Asked Questions
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What value is the diesel exhaust fluid market expected to touch by 2031?
The global diesel exhaust fluid (adblue) market is expected to reach USD 11413.65 million by 2031.
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What CAGR is the diesel exhaust fluid market expected to exhibit by 2031?
The diesel exhaust fluid market is expected to exhibit a CAGR of 13.9% by 2031.
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Which are the driving factors of the diesel exhaust fluid market?
Rising adoption of navigation system across various end-users and the low cost and less expensive maintenance are the driving factors of the diesel exhaust fluid (adblue) market growth.
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Which are the top companies operating in the diesel exhaust fluid market?
Yara, BASF, CF Industries, GreenChem, Mitsui Chemicals, Kelas, Borealis L.A.T, Sichuan Meifeng, Nissan Chemical, ENI S.p.A., Total, Cummins, Shell, BP, Novax, Liaoning Rundi are the top companies operating in the diesel exhaust fluid market.