2020-2025 Global Diesel Exhaust Fluid Market Report - Production and Consumption Professional Analysis

  • Report Code : MAI2652409
  • Published On: Sep, 2021
  • Category : Energy & Power
  • Pages : 127
  • Diesel Exhaust Fluid (DEF) also known as AdBlue, is a non-toxic, colourless, odourless and non-flammable fluid. Stored in a dedicated tank in your car, it is injected into the exhaust system to clean exhaust gases. Selective Catalytic Reduction (SCR) technology is fitted to all Land Rover diesel vehicles from 2016 Model Year. It enables Land Rover to meet EU6 emissions legislation by reducing the levels of nitrogen oxide (NOx) emitted from the exhaust system by up to 90%. In addition to a new generation of catalytic converter, SCR Technology requires the use of DEF.

    This report elaborates the market size, market characteristics, and market growth of the Diesel Exhaust Fluid industry, and breaks down according to the type, application, and consumption area of Diesel Exhaust Fluid. The report also conducted a PESTEL analysis of the industry to study the main influencing factors and entry barriers of the industry.


    In Chapter 3.4 of the report, the impact of the COVID-19 outbreak on the industry was fully assessed. Fully risk assessment and industry recommendations were made for Diesel Exhaust Fluid in a special period. This chapter also compares the markets of Pre COVID-19 and Post COVID-19.

    In addition, chapters 8-12 consider the impact of COVID-19 on the regional economy.


    Key players in the global Diesel Exhaust Fluid market covered in Chapter 13:

    Airgas

    Kost USA

    Nutrien

    Cervantes Delgado Inc (CDI)

    KRUSE-Group

    CoreFluids

    Cummins

    Yara

    Dyno Nobel

    CF Industries

    Old World Industries


    In Chapter 6, on the basis of types, the Diesel Exhaust Fluid market from 2015 to 2025 is primarily split into:

    Bulk Storage

    Dispensers

    Portable Containers


    In Chapter 7, on the basis of applications, the Diesel Exhaust Fluid market from 2015 to 2025 covers:

    Vehicular

    Non-Vehicular


    Geographically, the detailed analysis of production, trade of the following countries is covered in Chapter 4.2, 5:

    United States

    Europe

    China

    Japan

    India


    Geographically, the detailed analysis of consumption, revenue, market share and growth rate of the following regions are covered in Chapter 8, 9, 10, 11, 12:

    North America (Covered in Chapter 8)

    United States

    Canada

    Mexico

    Europe (Covered in Chapter 9)

    Germany

    UK

    France

    Italy

    Spain

    Others

    Asia-Pacific (Covered in Chapter 10)

    China

    Japan

    India

    South Korea

    Southeast Asia

    Others

    Middle East and Africa (Covered in Chapter 11)

    Saudi Arabia

    UAE

    South Africa

    Others

    South America (Covered in Chapter 12)

    Brazil

    Others


    Years considered for this report:

    Historical Years: 2015-2019

    Base Year: 2019

    Estimated Year: 2020

    Forecast Period: 2020-2025

     

  • With tables and figures helping analyze worldwide Global Diesel Exhaust Fluid market, this research provides key statistics on the state of the industry and is a valuable source of guidance and direction for companies and individuals interested in the market.

    Table of Content

    1 Diesel Exhaust Fluid Market - Research Scope

    1.1 Study Goals

    1.2 Market Definition and Scope

    1.3 Key Market Segments

    1.4 Study and Forecasting Years


    2 Diesel Exhaust Fluid Market - Research Methodology

    2.1 Methodology

    2.2 Research Data Source

    2.2.1 Secondary Data
    2.2.2 Primary Data
    2.2.3 Market Size Estimation
    2.2.4 Legal Disclaimer

    3 Diesel Exhaust Fluid Market Forces

    3.1 Global Diesel Exhaust Fluid Market Size

    3.2 Top Impacting Factors (PESTEL Analysis)

    3.2.1 Political Factors
    3.2.2 Economic Factors
    3.2.3 Social Factors
    3.2.4 Technological Factors
    3.2.5 Environmental Factors
    3.2.6 Legal Factors

    3.3 Industry Trend Analysis

    3.4 Industry Trends Under COVID-19

    3.4.1 Risk Assessment on COVID-19
    3.4.2 Assessment of the Overall Impact of COVID-19 on the Industry
    3.4.3 Pre COVID-19 and Post COVID-19 Market Scenario

    3.5 Industry Risk Assessment


    4 Diesel Exhaust Fluid Market - By Geography

    4.1 Global Diesel Exhaust Fluid Market Value and Market Share by Regions

    4.1.1 Global Diesel Exhaust Fluid Value ($) by Region (2015-2020)
    4.1.2 Global Diesel Exhaust Fluid Value Market Share by Regions (2015-2020)

    4.2 Global Diesel Exhaust Fluid Market Production and Market Share by Major Countries

    4.2.1 Global Diesel Exhaust Fluid Production by Major Countries (2015-2020)
    4.2.2 Global Diesel Exhaust Fluid Production Market Share by Major Countries (2015-2020)

    4.3 Global Diesel Exhaust Fluid Market Consumption and Market Share by Regions

    4.3.1 Global Diesel Exhaust Fluid Consumption by Regions (2015-2020)
    4.3.2 Global Diesel Exhaust Fluid Consumption Market Share by Regions (2015-2020)

    5 Diesel Exhaust Fluid Market - By Trade Statistics

    5.1 Global Diesel Exhaust Fluid Export and Import

    5.2 United States Diesel Exhaust Fluid Export and Import (2015-2020)

    5.3 Europe Diesel Exhaust Fluid Export and Import (2015-2020)

    5.4 China Diesel Exhaust Fluid Export and Import (2015-2020)

    5.5 Japan Diesel Exhaust Fluid Export and Import (2015-2020)

    5.6 India Diesel Exhaust Fluid Export and Import (2015-2020)

    5.7

    6 Diesel Exhaust Fluid Market - By Type

    6.1 Global Diesel Exhaust Fluid Production and Market Share by Types (2015-2020)

    6.1.1 Global Diesel Exhaust Fluid Production by Types (2015-2020)
    6.1.2 Global Diesel Exhaust Fluid Production Market Share by Types (2015-2020)

    6.2 Global Diesel Exhaust Fluid Value and Market Share by Types (2015-2020)

    6.2.1 Global Diesel Exhaust Fluid Value by Types (2015-2020)
    6.2.2 Global Diesel Exhaust Fluid Value Market Share by Types (2015-2020)

    6.3 Global Diesel Exhaust Fluid Production, Price and Growth Rate of Bulk Storage (2015-2020)

    6.4 Global Diesel Exhaust Fluid Production, Price and Growth Rate of Dispensers (2015-2020)

    6.5 Global Diesel Exhaust Fluid Production, Price and Growth Rate of Portable Containers (2015-2020)


    7 Diesel Exhaust Fluid Market - By Application

    7.1 Global Diesel Exhaust Fluid Consumption and Market Share by Applications (2015-2020)

    7.1.1 Global Diesel Exhaust Fluid Consumption by Applications (2015-2020)
    7.1.2 Global Diesel Exhaust Fluid Consumption Market Share by Applications (2015-2020)

    7.2 Global Diesel Exhaust Fluid Consumption and Growth Rate of Vehicular (2015-2020)

    7.3 Global Diesel Exhaust Fluid Consumption and Growth Rate of Non-Vehicular (2015-2020)


    8 North America Diesel Exhaust Fluid Market

    8.1 North America Diesel Exhaust Fluid Market Size

    8.2 United States Diesel Exhaust Fluid Market Size

    8.3 Canada Diesel Exhaust Fluid Market Size

    8.4 Mexico Diesel Exhaust Fluid Market Size

    8.5 The Influence of COVID-19 on North America Market


    9 Europe Diesel Exhaust Fluid Market Analysis

    9.1 Europe Diesel Exhaust Fluid Market Size

    9.2 Germany Diesel Exhaust Fluid Market Size

    9.3 United Kingdom Diesel Exhaust Fluid Market Size

    9.4 France Diesel Exhaust Fluid Market Size

    9.5 Italy Diesel Exhaust Fluid Market Size

    9.6 Spain Diesel Exhaust Fluid Market Size

    9.7 The Influence of COVID-19 on Europe Market

    10 Asia-Pacific Diesel Exhaust Fluid Market Analysis

    10.1 Asia-Pacific Diesel Exhaust Fluid Market Size

    10.2 China Diesel Exhaust Fluid Market Size

    10.3 Japan Diesel Exhaust Fluid Market Size

    10.4 South Korea Diesel Exhaust Fluid Market Size

    10.5 Southeast Asia Diesel Exhaust Fluid Market Size

    10.6 India Diesel Exhaust Fluid Market Size

    10.7 The Influence of COVID-19 on Asia Pacific Market

    11 Middle East and Africa Diesel Exhaust Fluid Market Analysis

    11.1 Middle East and Africa Diesel Exhaust Fluid Market Size

    11.2 Saudi Arabia Diesel Exhaust Fluid Market Size

    11.3 UAE Diesel Exhaust Fluid Market Size

    11.4 South Africa Diesel Exhaust Fluid Market Size

    11.5 The Influence of COVID-19 on Middle East and Africa Market


    12 South America Diesel Exhaust Fluid Market Analysis

    12.1 South America Diesel Exhaust Fluid Market Size

    12.2 Brazil Diesel Exhaust Fluid Market Size

    12.3 The Influence of COVID-19 on South America Market


    13 Company Profiles

    13.1 Airgas

    13.1.1 Airgas Basic Information
    13.1.2 Airgas Product Profiles, Application and Specification
    13.1.3 Airgas Diesel Exhaust Fluid Market Performance (2015-2020)

    13.2 Kost USA

    13.2.1 Kost USA Basic Information
    13.2.2 Kost USA Product Profiles, Application and Specification
    13.2.3 Kost USA Diesel Exhaust Fluid Market Performance (2015-2020)

    13.3 Nutrien

    13.3.1 Nutrien Basic Information
    13.3.2 Nutrien Product Profiles, Application and Specification
    13.3.3 Nutrien Diesel Exhaust Fluid Market Performance (2015-2020)

    13.4 Cervantes Delgado Inc (CDI)

    13.4.1 Cervantes Delgado Inc (CDI) Basic Information
    13.4.2 Cervantes Delgado Inc (CDI) Product Profiles, Application and Specification
    13.4.3 Cervantes Delgado Inc (CDI) Diesel Exhaust Fluid Market Performance (2015-2020)

    13.5 KRUSE-Group

    13.5.1 KRUSE-Group Basic Information
    13.5.2 KRUSE-Group Product Profiles, Application and Specification
    13.5.3 KRUSE-Group Diesel Exhaust Fluid Market Performance (2015-2020)

    13.6 CoreFluids

    13.6.1 CoreFluids Basic Information
    13.6.2 CoreFluids Product Profiles, Application and Specification
    13.6.3 CoreFluids Diesel Exhaust Fluid Market Performance (2015-2020)
    13.7 Cummins
    13.7.1 Cummins Basic Information
    13.7.2 Cummins Product Profiles, Application and Specification
    13.7.3 Cummins Diesel Exhaust Fluid Market Performance (2015-2020)
    13.8 Yara
    13.8.1 Yara Basic Information
    13.8.2 Yara Product Profiles, Application and Specification
    13.8.3 Yara Diesel Exhaust Fluid Market Performance (2015-2020)
    13.9 Dyno Nobel
    13.9.1 Dyno Nobel Basic Information
    13.9.2 Dyno Nobel Product Profiles, Application and Specification
    13.9.3 Dyno Nobel Diesel Exhaust Fluid Market Performance (2015-2020)

    13.10 CF Industries

    13.10.1 CF Industries Basic Information
    13.10.2 CF Industries Product Profiles, Application and Specification
    13.10.3 CF Industries Diesel Exhaust Fluid Market Performance (2015-2020)
    13.11 Old World Industries
    13.11.1 Old World Industries Basic Information
    13.11.2 Old World Industries Product Profiles, Application and Specification
    13.11.3 Old World Industries Diesel Exhaust Fluid Market Performance (2015-2020)

    14 Market Forecast - By Regions

    14.1 North America Diesel Exhaust Fluid Market Forecast (2020-2025)

    14.2 Europe Diesel Exhaust Fluid Market Forecast (2020-2025)

    14.3 Asia-Pacific Diesel Exhaust Fluid Market Forecast (2020-2025)

    14.4 Middle East and Africa Diesel Exhaust Fluid Market Forecast (2020-2025)

    14.5 South America Diesel Exhaust Fluid Market Forecast (2020-2025)


    15 Market Forecast - By Type and Applications

    15.1 Global Diesel Exhaust Fluid Market Forecast by Types (2020-2025)

    15.1.1 Global Diesel Exhaust Fluid Market Forecast Production and Market Share by Types (2020-2025)
    15.1.2 Global Diesel Exhaust Fluid Market Forecast Value and Market Share by Types (2020-2025)

    15.2 Global Diesel Exhaust Fluid Market Forecast by Applications (2020-2025)


    List of Tables and Figures
    Figure Diesel Exhaust Fluid Picture
    Table Diesel Exhaust Fluid Key Market Segments
    Figure Study and Forecasting Years
    Figure Global Diesel Exhaust Fluid Market Size and Growth Rate 2015-2025
    Figure Industry PESTEL Analysis
    Figure Global COVID-19 Status
    Figure Market Size Forecast Comparison of Pre COVID-19 and Post COVID-19
    Figure Global Diesel Exhaust Fluid Value ($) and Growth Rate (2015-2020)
    Table Global Diesel Exhaust Fluid Value ($) by Countries (2015-2020)
    Table Global Diesel Exhaust Fluid Value Market Share by Regions (2015-2020)
    Figure Global Diesel Exhaust Fluid Value Market Share by Regions in 2019
    Figure Global Diesel Exhaust Fluid Production and Growth Rate (2015-2020)
    Table Global Diesel Exhaust Fluid Production by Major Countries (2015-2020)
    Table Global Diesel Exhaust Fluid Production Market Share by Major Countries (2015-2020)
    Figure Global Diesel Exhaust Fluid Production Market Share by Regions in 2019
    Figure Global Diesel Exhaust Fluid Consumption and Growth Rate (2015-2020)
    Table Global Diesel Exhaust Fluid Consumption by Regions (2015-2020)
    Table Global Diesel Exhaust Fluid Consumption Market Share by Regions (2015-2020)
    Figure Global Diesel Exhaust Fluid Consumption Market Share by Regions in 2019
    Table Global Diesel Exhaust Fluid Export Top 3 Country 2019
    Table Global Diesel Exhaust Fluid Import Top 3 Country 2019
    Table United States Diesel Exhaust Fluid Export and Import (2015-2020)
    Table Europe Diesel Exhaust Fluid Export and Import (2015-2020)
    Table China Diesel Exhaust Fluid Export and Import (2015-2020)
    Table Japan Diesel Exhaust Fluid Export and Import (2015-2020)
    Table India Diesel Exhaust Fluid Export and Import (2015-2020)
    Table Global Diesel Exhaust Fluid Production by Types (2015-2020)
    Table Global Diesel Exhaust Fluid Production Market Share by Types (2015-2020)
    Figure Global Diesel Exhaust Fluid Production Share by Type (2015-2020)
    Table Global Diesel Exhaust Fluid Value by Types (2015-2020)
    Table Global Diesel Exhaust Fluid Value Market Share by Types (2015-2020)
    Figure Global Diesel Exhaust Fluid Value Share by Type (2015-2020)
    Figure Global Bulk Storage Production and Growth Rate (2015-2020)
    Figure Global Bulk Storage Price (2015-2020)
    Figure Global Dispensers Production and Growth Rate (2015-2020)
    Figure Global Dispensers Price (2015-2020)
    Figure Global Portable Containers Production and Growth Rate (2015-2020)
    Figure Global Portable Containers Price (2015-2020)
    Table Global Diesel Exhaust Fluid Consumption by Applications (2015-2020)
    Table Global Diesel Exhaust Fluid Consumption Market Share by Applications (2015-2020)
    Figure Global Diesel Exhaust Fluid Consumption Share by Application (2015-2020)
    Figure Global Vehicular Consumption and Growth Rate (2015-2020)
    Figure Global Non-Vehicular Consumption and Growth Rate (2015-2020)
    Figure North America Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Table North America Diesel Exhaust Fluid Consumption by Countries (2015-2020)
    Table North America Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure North America Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure United States Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Canada Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Mexico Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure North America COVID-19 Status
    Figure Europe Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Table Europe Diesel Exhaust Fluid Consumption by Countries (2015-2020)
    Table Europe Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure Europe Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure Germany Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure United Kingdom Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure France Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Italy Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Spain Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Europe COVID-19 Status
    Figure Asia-Pacific Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Table Asia-Pacific Diesel Exhaust Fluid Consumption by Countries (2015-2020)
    Table Asia-Pacific Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure Asia-Pacific Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure China Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Japan Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure South Korea Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Southeast Asia Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure India Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure Asia Pacific COVID-19 Status
    Figure Middle East and Africa Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Table Middle East and Africa Diesel Exhaust Fluid Consumption by Countries (2015-2020)
    Table Middle East and Africa Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure Middle East and Africa Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure Saudi Arabia Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure UAE Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure South Africa Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Figure South America Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Table South America Diesel Exhaust Fluid Consumption by Countries (2015-2020)
    Table South America Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure South America Diesel Exhaust Fluid Consumption Market Share by Countries (2015-2020)
    Figure Brazil Diesel Exhaust Fluid Market Consumption and Growth Rate (2015-2020)
    Table Airgas Company Profile
    Table Airgas Production, Value, Price, Gross Margin 2015-2020
    Figure Airgas Production and Growth Rate
    Figure Airgas Value ($) Market Share 2015-2020
    Table Kost USA Company Profile
    Table Kost USA Production, Value, Price, Gross Margin 2015-2020
    Figure Kost USA Production and Growth Rate
    Figure Kost USA Value ($) Market Share 2015-2020
    Table Nutrien Company Profile
    Table Nutrien Production, Value, Price, Gross Margin 2015-2020
    Figure Nutrien Production and Growth Rate
    Figure Nutrien Value ($) Market Share 2015-2020
    Table Cervantes Delgado Inc (CDI) Company Profile
    Table Cervantes Delgado Inc (CDI) Production, Value, Price, Gross Margin 2015-2020
    Figure Cervantes Delgado Inc (CDI) Production and Growth Rate
    Figure Cervantes Delgado Inc (CDI) Value ($) Market Share 2015-2020
    Table KRUSE-Group Company Profile
    Table KRUSE-Group Production, Value, Price, Gross Margin 2015-2020
    Figure KRUSE-Group Production and Growth Rate
    Figure KRUSE-Group Value ($) Market Share 2015-2020
    Table CoreFluids Company Profile
    Table CoreFluids Production, Value, Price, Gross Margin 2015-2020
    Figure CoreFluids Production and Growth Rate
    Figure CoreFluids Value ($) Market Share 2015-2020
    Table Cummins Company Profile
    Table Cummins Production, Value, Price, Gross Margin 2015-2020
    Figure Cummins Production and Growth Rate
    Figure Cummins Value ($) Market Share 2015-2020
    Table Yara Company Profile
    Table Yara Production, Value, Price, Gross Margin 2015-2020
    Figure Yara Production and Growth Rate
    Figure Yara Value ($) Market Share 2015-2020
    Table Dyno Nobel Company Profile
    Table Dyno Nobel Production, Value, Price, Gross Margin 2015-2020
    Figure Dyno Nobel Production and Growth Rate
    Figure Dyno Nobel Value ($) Market Share 2015-2020
    Table CF Industries Company Profile
    Table CF Industries Production, Value, Price, Gross Margin 2015-2020
    Figure CF Industries Production and Growth Rate
    Figure CF Industries Value ($) Market Share 2015-2020
    Table Old World Industries Company Profile
    Table Old World Industries Production, Value, Price, Gross Margin 2015-2020
    Figure Old World Industries Production and Growth Rate
    Figure Old World Industries Value ($) Market Share 2015-2020
    Figure North America Market Consumption and Growth Rate Forecast (2020-2025)
    Figure Europe Market Consumption and Growth Rate Forecast (2020-2025)
    Figure Asia-Pacific Market Consumption and Growth Rate Forecast (2020-2025)
    Figure Middle East and Africa Market Consumption and Growth Rate Forecast (2020-2025)
    Figure South America Market Consumption and Growth Rate Forecast (2020-2025)
    Table Global Diesel Exhaust Fluid Market Forecast Production by Types (2020-2025)
    Table Global Diesel Exhaust Fluid Market Forecast Production Share by Types (2020-2025)
    Table Global Diesel Exhaust Fluid Market Forecast Value ($) by Types (2020-2025)
    Table Global Diesel Exhaust Fluid Market Forecast Value Share by Types (2020-2025)
    Table Global Diesel Exhaust Fluid Market Forecast Consumption by Applications (2020-2025)
    Table Global Diesel Exhaust Fluid Market Forecast Consumption Share by Applications (2020-2025)

     

  • The Global Diesel Exhaust Fluid Market has been segregated into various crucial divisions including applications, types, and regions. Each market segment is intensively studied in the report contemplating its market acceptance, worthiness, demand, and growth prospects. The segmentation analysis will help the client to customize their marketing approach to have a better command of each segment and to identify the most prospective customer base.

    Report Objectives / Segmentation Covered :
    By Companies / players:
      By Regions:
        By Type:
          By Application:
          Frequently asked questions(FAQ's):
          Is the Global Diesel Exhaust Fluid Market shifting its focus from growth to value?

          Recognize the areas along the Global Diesel Exhaust Fluid Market's value chain where players are generating value. To get a complete picture, kindly read the entire report.

          What are the major applications for Global Diesel Exhaust Fluid?

          Global Diesel Exhaust Fluid has a wide range of applications, including and others.

          What is the anticipated growth rate for the Global Diesel Exhaust Fluid Market?

          During the projected year from 2024 to 2029, the Global Diesel Exhaust Fluid Market is expected to grow at a CAGR of xx%.

          In the current situation, what value does the Global Diesel Exhaust Fluid Market have?

          The value of the Global Diesel Exhaust Fluid Market is estimated to be USD XXX million.

          What are the top priorities for the growth of the Global Diesel Exhaust Fluid Market?

          In this highly competitive and rapidly evolving Global Diesel Exhaust Fluid Industry, top strategic priorities such as innovation, diversification, and M&A would remain consistent.

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