The demand within the global market for diesel exhaust fluid has been rising on account of several initiatives taken by the automotive sector to reduce harmful emissions from automobiles, finds Transparency Market Research (TMR). The market players in the global diesel exhaust fluid market have been concentrating on improving the quality and performance of their product to gain a competitive edge over vendors. However, the fragmented nature of the global diesel exhaust fluid market makes it difficult to ascertain which players have had a greater market share as against others. Hence, it is essential to understand the strategies of the small, medium, and large scale vendors at the grass-root level. The large market players in the global diesel exhaust fluid market are expected to acquire the small, redundant, and defunct vendors to expand their geographical reach.
A vital strategy that is expected to be a key highlight of the competitive landscape of the global market for diesel exhaust fluid market is the establishment of strategic alliances between small and medium-sized vendors. Furthermore, these vendors are expected to use their higher level of penetration into the local markets as a launch pad for growth and development. Hence, strategic partnerships, mergers, and acquisitions are projected to be the watchword of the global market for diesel exhaust fluid.
The global market for diesel fluid exhaust is expected to expand at a healthy CAGR of 7.1% over the period between 2017 and 2022. Furthermore, the total revenues accumulated by the global diesel exhaust fluid market in 2017 stood at US$10.4 bn in 2017, and this figure is projected to elevate to US$14.4 bn by 2022-end. On the basis of pack type, the demand for bottled fluids has been rising across the globe; based on geography, the demand for diesel exhaust fluids is the highest in Europe.
Performance and Efficiency to Act as key Demand Drivers
The use of diesel exhaust fluids in automotive engines is for the reduction in the emission of oxides of nitrogen. These oxides of nitrogen can have a negative influence on the performance of the vehicle, and hence, there is a dire need to retain performance by using diesel exhaust fluids. Furthermore, the efficiency of the engine is also enhanced if the vehicle is regularly treated with diesel exhaust fluids, which further enhances the growth prospects of the global market.
Reluctance of the Masses to Hamper Growth
Despite prior instructions from automobile manufacturers, the owners of vehicles are ignorant towards getting timely repairs and testing of vehicles. Due to this reason, the global market for diesel exhaust fluids is projected to suffer roadblocks to growth in the years to come. However, rising environmental concerns, efforts of automobile manufacturers, and effective marketing hacks are some of the key factors that are expected to keep bolstering demand within the global market for diesel exhaust fluid. Furthermore, the introduction of advanced exhaust fluids and better technologies is also expected to fetch commendable revenues within this market in the years to come.