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Vietnam Diesel Exhaust Fluid Market

Vietnam Diesel Exhaust Fluid Market

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Vietnam Diesel Exhaust Fluid (AdBlue) Market, By Storage Type (Bulk Storage Tank, Containers, Dispenser); By Application (Automotive, Construction, Industrial); By Region (Northern Vietnam, Central Vietnam, Southern Vietnam), Competitive Landscape & Forecast, 2019–2029

  • Published Date: October 2023
  • Report ID: BWC23840
  • Available Format: PDF
  • Page: 200

Report Overview

Stringent emissions regulations, increasing adoption of cleaner diesel engines, growing awareness of environmental sustainability, and the expansion of commercial vehicle fleets in the country are expected to contribute to the expansion of the Vietnam Diesel Exhaust Fluid (AdBlue) Market during the forecast period between 2023 and 2029.

Vietnam Diesel Exhaust Fluid (AdBlue) Market– Industry Trends & Forecast Report, 2029

Vietnam diesel exhaust fluid (AdBlue) market size was estimated at USD 151.36 million in 2022. During the forecast period between 2023 and 2029, the size of Vietnam diesel exhaust fluid (AdBlue) market is projected to grow at a CAGR of 7.7% reaching a value of USD 254.4 million by 2029. The growth of the Vietnam diesel exhaust fluid (AdBlue) market is primarily driven by stringent environmental regulations aimed at reducing vehicle emissions, including the adoption of Euro 5 and Euro 6 emission standards. This has increased the demand for AdBlue, which helps reduce harmful nitrogen oxide (NOx) emissions from diesel vehicles. The expanding commercial vehicle fleet, rising consumer awareness of environmental issues, and government incentives for clean transportation further boost market growth. As the country's economy continues to develop and industrialize, the demand for AdBlue is expected to rise significantly, making it a pivotal component of the automotive and transportation industry in Vietnam.

Vietnam Diesel Exhaust Fluid Market

Vietnam Diesel Exhaust Fluid (AdBlue) Market - Overview

Diesel exhaust fluid (AdBlue) is a clear, non-toxic fluid used in modern diesel engines equipped with Selective Catalytic Reduction (SCR) technology to reduce harmful nitrogen oxide (NOx) emissions. It is composed of approximately 32.5% urea and 67.5% deionized water. When injected into the exhaust system, AdBlue interacts with NOx emissions, converting them into harmless nitrogen and water vapor. This emission-reduction solution helps diesel vehicles comply with stringent environmental regulations, such as Euro 6 emissions standards. AdBlue is typically stored in a separate tank on vehicles and needs regular refilling to ensure proper emission control, making it a critical component in the effort to reduce air pollution from diesel engines.

Growth Drivers

Stringent Regulations for Emission Control

One of the major growth driving factors for the Vietnam diesel exhaust fluid (AdBlue) market is stringent government emissions regulations. As Vietnam intensifies its commitment to environmental sustainability, authorities are implementing increasingly strict emission standards for diesel vehicles. AdBlue, a urea-based solution used to reduce harmful nitrogen oxide emissions, has become a necessity for vehicle owners and manufacturers alike to meet these regulations. This demand surge is propelling the market forward, as automotive companies seek innovative solutions and consumers opt for cleaner-burning diesel engines, driving the adoption of AdBlue technology and catalyzing the market's expansion.

Restraints

Supply Chain Vulnerabilities

One significant restraint facing the Vietnam diesel exhaust fluid (AdBlue) market is its susceptibility to supply chain disruptions. AdBlue, a crucial component for modern diesel engines to reduce emissions, relies heavily on the import of urea, a primary ingredient. Any global urea supply disruptions, such as trade restrictions, geopolitical tensions, or production limitations, can severely impact the availability and pricing of AdBlue in Vietnam. These disruptions can cascade into higher operational costs for businesses and increased emissions, hindering the country's efforts to meet stringent emission standards and environmental goals, thereby creating uncertainty and instability within the market.

Impact of COVID-19 on Vietnam Diesel Exhaust Fluid (AdBlue) Market

The Vietnam diesel exhaust fluid (AdBlue) market, like many industries, faced significant disruptions due to the COVID-19 pandemic. Lockdowns and reduced economic activity led to a temporary drop in demand for AdBlue, impacting production and sales. However, as transportation gradually resumed, the market rebounded. Increased environmental regulations and a growing awareness of emissions control have since driven steady growth in the AdBlue sector. Market players adapted by exploring new distribution channels and emphasizing product sustainability. Overall, while COVID-19 posed initial challenges, the Vietnam AdBlue market has shown resilience and potential for long-term sustainability in a changing landscape.

Vietnam Diesel Exhaust Fluid (AdBlue) Market

Segmental Coverage

Vietnam Diesel Exhaust Fluid (AdBlue) Market– By Storage Type

Based on storage type, Vietnam diesel exhaust fluid (AdBlue) market is divided into Bulk Storage Tank, Containers, and Dispenser segments. The bulk storage tank segment is the largest in the Vietnam diesel exhaust fluid (AdBlue) market. This segment caters to the storage needs of AdBlue in larger quantities, making it a crucial component for industries and vehicles that require frequent and substantial AdBlue refills. It serves as a centralized storage solution, ensuring a steady and ample supply of AdBlue for various applications. The bulk storage tank segment plays a pivotal role in meeting the growing demand for AdBlue in Vietnam, serving industries and vehicles efficiently and cost-effectively.

Vietnam Diesel Exhaust Fluid (AdBlue) Market– By Application

By application, Vietnam diesel exhaust fluid (AdBlue) market is divided into Automotive, Construction, and Industrial segments. Automotive is the largest segment in the Vietnam diesel exhaust fluid (AdBlue) market. The segment encompasses a wide range of vehicles, including cars, trucks, and buses, which require AdBlue to reduce harmful emissions and comply with environmental regulations. The automotive segment dominates the market due to the significant number of vehicles on the road in Vietnam and the increasing emphasis on cleaner emissions standards. While the construction and industrial segments also play important roles in the AdBlue market, they are smaller in comparison, with the automotive sector holding the lion's share of demand for this essential emissions-reducing fluid.  

Vietnam Diesel Exhaust Fluid Market Size

Vietnam Diesel Exhaust Fluid (AdBlue) Market– By Region

Geographically, Vietnam diesel exhaust fluid (AdBlue) market is divided into Northern Vietnam, Central Vietnam, and Southern Vietnam regions. Southern Vietnam stands out as the largest region in the market. Its prominence may be attributed to factors, such as higher industrial activities, increasing transportation demands, and a larger concentration of vehicles requiring AdBlue for emissions control. The region holds the largest share of the AdBlue market due to its economic significance and higher population density, making it a crucial market for AdBlue manufacturers and suppliers in Vietnam.

Competitive Landscape

Major players in the Vietnam diesel exhaust fluid (AdBlue) market include Madin Chem Joint Stock Company, Weichai Vietnam, ALVADI Vietnam, MOTUL Vietnam, and Viet Duc Joint Stock Company. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Scope of the Report

Attributes

Details

Years Considered

Historical Data – 2019–2022

Base Year – 2022

Estimated Year – 2023

Forecast Period – 2023–2029

Facts Covered

Revenue in USD Million

Market Coverage

Northern Vietnam, Central Vietnam, Southern Vietnam

Product/ Service Segmentation

Storage Type, Application, Region

Key Players

Madin Chem Joint Stock Company, Weichai Vietnam, ALVADI Vietnam, MOTUL Vietnam, Viet Duc Joint Stock Company

 

 

By Storage Type

    • Bulk Storage Tank

    • Containers

    • Dispenser

By Application

    • Automotive

    • Construction

    • Industrial

By Region

    • Northern Vietnam

    • Central Vietnam

    • Southern Vietnam

  1. Research Framework
    1. Research Objective
    2. Product Overview
    3. Market Segmentation
  2. Executive Summary
  3.  Vietnam Diesel Exhaust Fluid (AdBlue) Market Insights
    1. Industry Value Chain Analysis
    2. DROC Analysis
      1. Growth Drivers
        1. Environmental regulations
        2. Increasing vehicle population
      2. Restraints
        1. High cost of AdBlue
        2. Lack of availability of AdBlue
      3. Opportunities
        1. Market growth
        2. Investment and innovation
      4. Challenges
        1. Distribution infrastructure
        2. Quality control
    3. Technological Advancements/Recent Developments
    4. Regulatory Framework
    5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
  4.  Vietnam Diesel Exhaust Fluid (AdBlue) Market Overview
    1. Market Size & Forecast, 2019–2029
      1. By Value (USD Million)
    2. Market Share and Forecast
      1. By Storage Type
        1. Bulk Storage Tank
        2. Containers
        3. Dispenser
        4. Others  
      2. By Application
        1. Automotive
        2. Construction
        3. Industrial
      3. By Region
        1. Northern Vietnam
        2. Central Vietnam
        3. Southern Vietnam
  5. Competitive Landscape
    1. List of Key Players and Their Offerings
    2. Vietnam Diesel Exhaust Fluid (AdBlue) Market Share Analysis, 2022
    3. Competitive Benchmarking, By Operating Parameters
    4. Key Strategic Developments (Mergers, Acquisitions, Partnerships, etc.)
  6. Impact of Covid-19 on Vietnam Diesel Exhaust Fluid (AdBlue) Market
  7. Company Profile (Company Overview, Financial Matrix, Competitive Landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, SWOT Analysis)
    1. Madin Chem Joint Stock Company
    2. Weichai Vietnam
    3. ALVADI Vietnam
    4. MOTUL Vietnam
    5. Viet Duc Joint Stock Company
    6. Other Prominent Players
  8. Key Strategic Recommendations
  9. Research Methodology
    1.    Qualitative Research
      1.  Primary & Secondary Research
    2.    Quantitative Research
    3.    Market Breakdown & Data Triangulation
      1.  Secondary Research
      2.  Primary Research
    4.    Breakdown of Primary Research Respondents, By Region
    5.    Assumptions & Limitations

*Financial information of non-listed companies can be provided as per availability.

**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable

 

List of Figures

 

Figure 1       Vietnam Diesel Exhaust Fluid (AdBlue) Segmentation

Figure 2       Vietnam Diesel Exhaust Fluid (AdBlue) Market Value Chain Analysis

Figure 3       Company Market Share Analysis, 2021

Figure 4       Vietnam Diesel Exhaust Fluid (AdBlue) Market Size, By Value (USD Million), 2019–2029

Figure 5       Vietnam Diesel Exhaust Fluid (AdBlue) Market Share, By Storage Type, By Value, 2019–2029

Figure 6       Vietnam Diesel Exhaust Fluid (AdBlue) Market Share, By Application, By Value, 2019–2029

Figure 7      Vietnam Diesel Exhaust Fluid (AdBlue) Market Share, By Region, By Value, 2019–2029

 

List of Tables

 

Table 1        Vietnam Diesel Exhaust Fluid (AdBlue) Market Size, By Value (USD Million), 2019–2029

Table 2        Vietnam Diesel Exhaust Fluid (AdBlue) Market Share, By Storage Type, By Value, 2019–2029

Table 3        Vietnam Diesel Exhaust Fluid (AdBlue) Market Share, By Application, By Value, 2019–2029

Table 4         Vietnam Diesel Exhaust Fluid (AdBlue) Market Share, By Region, By Value, 2019–2029

Table 5        Madin Chem Joint Stock Company: Company Overview

Table 6         Madin Chem Joint Stock Company Financial Overview

Table 7        Weichai Vietnam Company Overview

Table 8        Weichai Vietnam Financial Overview

Table 9        ALVADI Vietnam Company Overview

Table 10      ALVADI Vietnam Financial Overview

Table 11      MOTUL Vietnam Company Overview

Table 12      MOTUL Vietnam Financial Overview

Table 13      Viet Duc Joint Stock Company: Company Overview

Table 14      Viet Duc Joint Stock Company Financial Overview

Market Segmentation

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No data available

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Frequently Asked Questions (FAQs):

Ans: Vietnam Diesel Exhaust Fluid (AdBlue) Market size was estimated at USD 151.36 million in 2022.
Ans: Major factors driving the growth of Vietnam Diesel Exhaust Fluid (AdBlue) Market include stringent emissions regulations, increasing adoption of cleaner diesel engines, growing awareness of environmental sustainability, and the expansion of commercial vehicle fleets in the country, all contribute to the expansion.
Ans: Key players in Vietnam Diesel Exhaust Fluid (AdBlue) Market include Madin Chem Joint Stock Company, Weichai Vietnam, ALVADI Vietnam, MOTUL Vietnam, and Viet Duc Joint Stock Company.
Ans: The bulk storage tank segment accounts for the highest market share in the Vietnam Diesel Exhaust Fluid (AdBlue) Market by storage type.
Ans: The automotive segment accounts for the highest market share in the Vietnam Diesel Exhaust Fluid (AdBlue) Market by application.