Diesel Exhaust Fluid Market Insights, Leading Players, Growth and Future Scope
by Vijay K. Web MarketingThe diesel exhaust fluid market size is projected to progress at a CAGR of 8.8% during the forecast period by P&S Intelligence. The soaring levels of vehicular pollution have led to the widescale adoption of diesel exhaust fluid, or DEF, in several countries, such as the U.S., Canada, Spain, France, China, Australia, Brazil, and India.
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During the historical period (2013–2017), Europe accounted for the largest revenue share in the diesel exhaust fluid market, and it is projected to maintain its position in the coming years. This would be due to the increasing focus of Germany and France on sustainable development. Besides, the implementation of strict regulatory legislations in European nations is augmenting the demand for DEF, as these norms make it mandatory for automobiles and other machines running on diesel to use AdBlue.
In recent years, companies operating in the diesel exhaust fluid market have adopted strategic measures including facility expansions and mergers and acquisitions to consolidate the competition. For example, BASF SE and Yara International ASA opened a new ammonia plant, with a capacity of 750,000 metric tons annually, in Freeport, Texas, in April 2018. Additionally, Yara International ASA acquired the Vale Cubatao Fertilizantes complex in May 2018 to tap the emerging Brazilian market for nitrogen-based products.
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Thus, the stringent government laws on vehicular pollution are propelling the demand for diesel exhaust fluid.
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Created on Feb 18th 2021 04:03. Viewed 356 times.
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