The diesel exhaust fluid (DEF) market is projected to grow from $33.9 billion in 2023 to $36.83 billion in 2024, showcasing a CAGR of 8.6%. This growth is driven by stringent emission regulations and increasing commercial vehicle sales. By 2028, the market is anticipated to reach $51.5 billion, growing at a CAGR of 8.7%. Future drivers include urbanization and sustainability initiatives, while major trends encompass advancements in DEF production and digital platforms for supply chain management.
Major Driver In The Diesel Exhaust Fluid Market
The growing interest in heavy-duty vehicles is expected to fuel the diesel exhaust fluid (DEF) market. These vehicles are increasingly popular for their reliability and efficiency in transporting goods. To comply with emissions regulations, manufacturers are integrating DEF systems. In May 2024, the Federal Reserve System reported heavy truck production reaching 9.71 million units, up from 8.86 million in January. The DEF market is projected to grow from $29.1 billion in 2023 to $41.7 billion by 2028.
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Diesel Exhaust Fluid Market Competitive Landscape
Sinopec Group, Shell PLC, TotalEnergies SE, Mitsui Chemicals Inc., BASF SE, Honeywell International Inc., Air Liquide S.A., Cummins Inc., Yara International ASA, Brenntag AG, CF Industries Holdings Inc., Graco Inc., Nissan Chemical Corporation, Wien Energie GmbH, Agrium Inc., McPherson Company, GreenChem Industries LLC, Sun Exchange AG, Ahuja Global Corporation, Electrify Asia Limited, Pexapark, Share And Charge GmbH, SunContract Pte. Ltd., LO3 Energy Inc, Electron Pty Ltd, FlexiDAO GmbH
Key Diesel Exhaust Fluid Market Trend
The diesel exhaust fluid market is witnessing innovations aimed at improving performance in diesel vehicles. In February 2024, Liqui Moly GmbH, a Germany-based company, introduced an additive for AdBlue, designed to protect Selective Catalytic Reduction (SCR) systems from crystallization and freezing. This innovative DEF Anti Crystal Additive Concentrate helps maintain functionality even in extreme temperatures.
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Diesel Exhaust Fluid Market Segmentation
The diesel exhaust fluid market covered in this report is segmented –
1) By Component: Selective Catalytic Reduction (SCR) Catalyst, Diesel Exhaust Fluid (DEF) Tank, Diesel Exhaust Fluid (DEF) Injector, Diesel Exhaust Fluid (DEF) Supply Module, Diesel Exhaust Fluid (DEF) Sensor, Other Components
2) By Supply Mode: Cans And Bottles, Intermediate Bulk Containers (IBC), Bulk, Other Supply Modes
3) By Vehicle Type: Passenger Cars, Light Commercial Vehicles (LCVs), Heavy Commercial Vehicles (HCVs)
4) By End- Use: Original Equipment Manufacturer (OEM), Aftermarket
By Geography:The regions covered in the diesel exhaust fluid market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the diesel exhaust fluid market in 2023.
The Diesel Exhaust Fluid Global Market Report 2024 furnishes information about the global diesel exhaust fluid market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
