Global Market Size, Forecast, and Trend Highlights Over 2025-2037
Diesel Exhaust Fluid (DEF) Market size was valued at USD 39.04 billion in 2024 and is likely to cross USD 102.4 billion by 2037, registering more than 7.7% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of diesel exhaust fluid is estimated at USD 41.6 billion.
The global diesel exhaust fluid (DEF) market is thriving on the back of increasing sales of passenger and commercial vehicles around the globe, along with advancement in technologies in engine exhaust systems. Over the years, vehicle manufacturers around the globe are increasingly spending on research and development for finding out new technologies that increases the efficiency of a vehicle and emits less pollution to the environment. With the rising demand for vehicles all around the globe, the market of global diesel exhaust fluid (DEF) is thereby anticipated to grow exponentially over the years.
Diesel Exhaust Fluid Sector: Growth Drivers and Challenges
Growth Drivers
Growing Concern For Vehicular Emissions Amongst Various Nations
According to the World Health Organization (WHO), road transport, mostly diesel traffic, is considered to be a major contributor towards particulate air pollution. Additionally, it also estimated that in the European cities, road transport contributed to around 30% of particulate emissions, followed by 50% in OECD countries.
With the increasing vehicle fleet around the world, the concern for vehicular emissions is also increasing. As such, government of nations around the world are increasingly taking measures to curb the issue of pollution. For instance, in the European Union, stringent norms were introduced gradually to reduce NOx emissions. The Euro 3 norms which was approved in the year January 2000, had a proposed NOx emission for light commercial diesel vehicle of 0.50 g/km, which further reduced to 0.80 g/km in the proposed Euro 6d norms approve din the year January 2020. Diesel exhaust fluid helps to decrease the emissions of vehicles. Vehicle manufacturers are thereby increasingly deploying the technology to adhere to the stringent emission norms of the governments. Such a factor is anticipated to drive the growth of the global diesel exhaust fluid (DEF) market over the forecast period.
Increasing Deployment of SCR in Vehicles
To meet the emission standards around the world, vehicle manufacturers are increasingly deploying selective catalytic reduction (SCR) technology in diesel vehicles. The technology was first patented in the United States in the year 1957 and was found to be one of the most effective technology to reduce harmful emissions from the exhaust system. The technology involves the conversion of nitrogen oxides with the aid of a catalyst. As deploying the technology allows vehicles to adhere to the requirement of EPA emission regulations, it has been widely accepted amongst vehicle manufacturers till date. Such a factor is thereby anticipated to drive the growth of the global diesel exhaust fluid (DEF) market.
Challenges
Increasing Demand for Electric Vehicles
Rising trend of electric vehicles on the back of increasing awareness for the environment amongst the population, along with the concern for fluctuating oil prices, increasing demand for vehicles that run on alternative sources of energy and difficulties observed in processing urea are some of the factors anticipated to act as a key restraint factor towards the growth of the global market.
Diesel Exhaust Fluid Market: Key Insights
Diesel Exhaust Fluid Segmentation
The market is segmented by vehicle type into commercial and passenger vehicle. The commercial segment is further segmented into light commercial vehicle, heavy commercial vehicle and buses & coaches, out of which, light commercial vehicle is anticipated to hold the largest market share on the back of increasing demand for light commercial vehicles around the world. With growing number of new businesses along with the need for fast and efficient services amongst business organizations is raising the need for the deployment of vehicles which can ply on the streets and can serve in deep interior segments where large vehicles are unable to reach. Moreover, dynamic change in the business working models is also contributing towards the greater acceptance of LCVs amongst business organizations.
Our in-depth analysis of the global market includes the following segments
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By Market Type
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Customize this ReportDiesel Exhaust Fluid Industry - Regional Synopsis
On the basis of regional analysis, the global diesel exhaust fluid (DEF) market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
Europe industry is likely to hold largest revenue share by 2037, backed by stringent vehicle norms in the region, which will raise the demand amongst vehicle manufacturers to deploy SCR technology in the vehicles. Furthermore, rising awareness amongst individuals for DEF is also anticipated to contribute significantly towards the growth of the market in the region in the upcoming years.
Companies Dominating the Diesel Exhaust Fluid Landscape
- Yara
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- RelaDyne LLC
- CF Industries Holdings, Inc.
- PEAK
- Airgas, Inc.
- Shaw Development LLC
- Nissan Chemical Corporation
- Cummins Filtration
- The McPherson Companies
- BASF SE
In the News
Author Credits: Saima Khursheed
- Report ID: 2323
- Published Date: Dec 23, 2024
- Report Format: PDF, PPT