Automotive - - Oct 10,2017
According to research reports, the global market for diesel exhaust fluid is likely to be valued at US$10,241.5 mn in 2017.
The need for diesel exhaust fluids has grown popular due to environmental conservation concerns. This aspect is likely to drive the global diesel exhaust fluid market at a significant rate in the coming years. The effectiveness of this fluid in diesel engines permits the conversion of nitrogen oxides to harmless nitrogen and water.
Further, it is noticed that the prime factor driving the development of diesel exhaust fluid division is motivated through government support for the extensive adoption of diesel exhaust fluid. It is analyzed that, the governments in several countries have formulated a legislation to endorse the use of diesel exhaust fluids. As per active analytics, the global diesel exhaust fluid market would be valued at US$10,241.5 mn in 2017. This revenue landmark indicates a 7.1% CAGR between 2017 and 2022.
Furthermore, the booming automotive industry is anticipated to be an important driver for the global diesel exhaust fluid market in the following years. There has been a prominent growth in demand from middle-class consumers across the global automotive industry in the past few years; diesel cars are a key part of the product lineup of different car brands as a result of higher fuel efficiency.
Geographically, the overall market for diesel exhaust fluid is significantly bifurcated across North America, Europe, and Asia Pacific. Each of these regions acquires dominant shares at present and are expected to retain a steady dominance in the years to follow. The major companies from the concerned sector are Yara International ASA, CF International Holdings Inc., SINOPEC, Cummins, Total SA, Valvoline, RelaDyne LLC, GreenChem Solutions Ltd. and Royal Dutch Shell Plc, which are operating excellently for the growth of the diesel exhaust fluid market.
For more information on this report visit- https://www.marketresearchhub.com/report/diesel-exhaust-fluid-market-global-industry-analysis-size-share-growth-trends-and-forecast-2017-2022-report.html