Sustainable Aviation Fuel Market - By Fuel Type (Biofuel, Power-to-Liquid, Gas-to-Liquid, Hydrogen Fuel), By Technology (HEFA-SPK, FT-SPK, HFS-SIP, ATJ-SPK, CHJ), By Blending Capacity, By Aircraft Type & Forecast 2024 – 2032
Published Date: February - 2025 | Publisher: MRA | No of Pages: 240 | Industry: Aerospace | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSustainable Aviation Fuel Market - By Fuel Type (Biofuel, Power-to-Liquid, Gas-to-Liquid, Hydrogen Fuel), By Technology (HEFA-SPK, FT-SPK, HFS-SIP, ATJ-SPK, CHJ), By Blending Capacity, By Aircraft Type & Forecast 2024 – 2032
Sustainable Aviation Fuel Market - By Fuel Type (Biofuel, Power-to-Liquid, Gas-to-Liquid, Hydrogen Fuel), By Technology (HEFA-SPK, FT-SPK, HFS-SIP, ATJ-SPK, CHJ), By Blending Capacity, By Aircraft Type & Forecast 2024 – 2032
Sustainable Aviation Fuel Market Size
Sustainable Aviation Fuel Market size was valued at USD 952.6 Billion in 2023 and is projected to reach USD 32.9 Billion by 2032, growing at a CAGR of 45% during the forecast period 2024-2032.
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Companies in the aviation industry are becoming more focused on sustainability. This focus on sustainability is driving the use of sustainable aviation fuel (SAF), which is seen as a key way to reach the goal of net-zero carbon emissions by 2050. In the last few years, the Sustainable Aviation Fuel Market has grown rapidly, and it's expected to continue to grow at a rate of over 45% between 2024 and 2032. This growth is due to the increasing number of airlines and other aviation companies that are making sustainability a priority. For example, GE Aerospace has been testing SAF in its engines since 2016. In 2023, Emirates conducted a test flight on an A380 that used pure SAF in one of its four engines. This test showed that SAF can be used in commercial aviation without any major problems.
To get key market trends
Sustainability initiatives, including the use of sustainable aviation fuels, help these companies align with growing consumer preferences for environmentally responsible practices. As more companies commit to sustainability goals and seek to achieve carbon neutrality, the demand for sustainable aviation fuel is expected to rise.
| Report Attribute | Details |
|---|---|
| Base Year | 2023 |
| Sustainable Aviation Fuel Market Size in 2023 | USD 952.6 Million |
| Forecast Period | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR | 45% |
| 2032 Value Projection | USD 32.9 Billion |
| Historical Data for | 2018 – 2023 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 347 |
| Segments covered | Fuel Type, Technology, Blending Capacity, and Aircraft Type |
| Growth Drivers |
|
| Pitfalls & Challenges |
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What are the growth opportunities in this market?
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The future of sustainable aviation fuel (SAF) is closely tied to technological breakthroughs and investments. Companies and researchers are investing heavily in research and development, which is leading to major advancements in this field. For example, in 2023, a Swiss company called Metafuels raised $8 million to create environmentally friendly fuels that work with existing aircraft. Their fuel, called "aerobrew," is made from sustainable sources like methanol. This type of fuel has the potential to make air travel cleaner without requiring changes to current aircraft technology.
Financial incentives, tax credits, and regulatory frameworks encouraging the aviation industry to invest in sustainable practices are expected to drive increased demand for SAF. Such measures can act as catalysts, fostering innovation and accelerating the transition towards a more sustainable and environmentally conscious aviation sector.
However, the cost disparity between SAF and conventional jet fuels could significantly impact the SAF industry. Producing SAF can be more expensive due to factors such as feedstock costs, production technology, and economies of scale. The aviation industry has been hesitant to embrace SAF on a large scale, primarily due to concerns about economic viability and the potential impact on ticket prices.
Sustainable Aviation Fuel Market Trends
Governments are jumping in to help make sustainable aviation fuel (SAF) a reality. With the world trying to cut back on carbon pollution, many governments are putting in place policies to support the making and use of SAF. For instance, in late 2023, the Biden administration in the US announced a bold plan to make air travel more eco-friendly. They're going to give money to companies that develop SAF made from crops, like biofuels from soybeans, diesel from animal fat, and even regular old ethanol. This is all part of a push to get the aviation industry to use cleaner fuels.
Innovations in feedstock sourcing, refining processes, and production scalability have contributed to making sustainable aviation fuels more economically viable. As technology continues to improve, the cost competitiveness of sustainable aviation fuels could increase, making them more attractive to the aviation industry.
Sustainable Aviation Fuel Market Analysis
Learn more about the key segments shaping this market
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When it comes to fueling planes, there are a few different optionsbiofuel, power-to-liquid, gas-to-liquid, and hydrogen fuel. Right now, biofuel is the most popular choice, making up over 80% of the market. Why biofuel? Because it's a greener way to fly. Instead of using fossil fuels, biofuel is made from plants or waste materials. This reduces carbon emissions and helps protect the environment. Plus, governments and airlines are pushing for biofuel use. They're worried about climate change and want to find ways to make flying more sustainable. As biofuel technology gets better and people become more eco-conscious, the aviation industry is turning to biofuels to help reach its carbon reduction targets.
Learn more about the key segments shaping this market
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Imagine the aviation industry as a giant sky, filled with different types of aircraft. We have massive commercial planes, carrying passengers and cargo across borders. Then there are military aircraft, protecting our skies and performing special missions. Business and general aviation cover everything from private jets to smaller planes used for sightseeing and recreation. And last but not least, we have unmanned aerial vehicles, or drones, becoming increasingly popular for various purposes. In 2023, the commercial aviation sector was the biggest player in this sky, accounting for about 74% of the market. Why is that? Well, it's because of a growing awareness of climate change and the need to become more eco-friendly. Airlines are under pressure to cut back on their greenhouse gas emissions, which is where Sustainable Aviation Fuel, or SAF, comes into the picture. SAF is a cleaner alternative to traditional jet fuel, significantly reducing those greenhouse gas emissions. It's like the aviation industry's green superhero, helping us fight climate change. Governments and airlines are supporting the use of SAF through incentives and carbon-neutral goals, making it a key solution for more environmentally friendly flying.
Looking for region specific data?
North America is leading the way in producing and using sustainable jet fuel, with nearly half of the global market share in 2023. This growth is thanks to a combination of supportive government policies, forward-thinking airlines, and innovative companies. Governments have put in place incentives and regulations that encourage the use of sustainable jet fuel. This makes it more attractive for airlines to invest in this cleaner energy source. Airlines are also starting to realize that using sustainable jet fuel is a good way to reduce their carbon emissions and appeal to environmentally conscious customers. Investors are also recognizing the potential of sustainable jet fuel, and they're pouring money into projects that are developing and producing this new fuel. This is creating a positive cycle where more investment leads to more development, which in turn leads to more demand from airlines. All of this is happening as consumers are becoming more aware of the environmental impact of flying. This is putting pressure on the aviation industry to find ways to reduce its emissions, which is further driving the growth of sustainable jet fuel in North America.
Sustainable Aviation Fuel Market Share
Neste and Shell PLC hold a significant market share in the sustainable aviation fuel market. Neste emphasizes the use of renewable feedstocks, such as waste and residues, for the production of sustainable aviation fuel. This strategy aligns with environmental goals and contributes to the circular economy.
Shell PLC adopts an integrated energy company approach, focusing on a diverse energy portfolio that includes sustainable aviation fuel. This strategy positions Shell to meet the evolving energy needs of the aviation sector.
Sustainable Aviation Fuel Market Companies
Major players operating in the sustainable aviation fuel industry are
- Aemetis, Inc.
- Alder Fuels
- Fulcrum BioEnergy Inc.
- Gevo Inc.
- LanzaJet
- Neste
- Northwest Advanced Bio-Fuels, LLC
- Preem AB
- Red Rock Biofuels
- Shell PLC
- SkyNRG BV
- World Energy
Sustainable Aviation Fuel Industry News
- In December 2023, Mangalore Refinery and Petrochemicals Ltd (MRPL) announced produce sustainable aviation fuel (SAF) within the next two years to support the government’s target of achieving one percent blending. The company is also establishing a 20-kilolitre-per-day plant to showcase indigenously developed technology.
The sustainable aviation fuel market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Fuel Type
- Biofuel
- Power-to-Liquid
- Gas-to-Liquid
- Hydrogen Fuel
Market, By Technology
- HEFA-SPK
- FT-SPK
- HFS-SIP
- ATJ-SPK
- CHJ
Market, By Blending Capacity
- Below 30%
- 30% to 50%
- Above 50%
Market, By Aircraft Type
- Commercial Aviation
- Military Aviation
- Business & General Aviation
- Unmanned Aerial Vehicle
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- UAE
- South Africa
- Saudi Arabia
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Sustainable aviation fuel market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2024-2032
2.3 Regional trends
2.4 Fuel type trends
2.5 Technology trends
2.6 Blending capacity trends
2.7 Aircraft type trends
Chapter 3 Sustainable Aviation Fuel Industry Insights
3.1 Industry ecosystem analysis
3.2 Supplier landscape
3.2.1 Feedstock suppliers
3.2.2 Biofuel producers
3.2.3 Technology providers
3.2.4 Aviation fuel distributors and suppliers
3.2.5 Airlines and Aircraft manufacturers
3.3 Profit margin analysis
3.4 Technology innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Growing global initiatives to reduce carbon emissions
3.8.1.2 Presence of stringent environmental regulations
3.8.1.3 Economic growth and rising air travel demand
3.8.1.4 Growth in deployment of sustainable aviation fuel
3.8.2 Industry pitfalls & challenges
3.8.2.1 High cost for producing sustainable aviation fuel
3.8.2.2 Feedstock availability and competition
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
4.1 Introduction
4.2 Company market share, 2023
4.3 Competitive analysis of major market players, 2023
4.3.1 Neste
4.3.2 Aemetis, Inc.
4.3.3 Gevo Inc.
4.3.4 Shell PLC
4.3.5 Lanzajet
4.3.6 Sky NRG
4.3.7 Fulcrum BioEnergy Inc.
4.4 Competitive positioning matrix, 2023
4.5 Strategic outlook matrix, 2023
Chapter 5 Sustainable Aviation Fuel Market Estimates & Forecast, By Fuel Type (Revenue)
5.1 Key trends, by fuel type
5.2 Biofuel
5.3 Power-to-Liquid
5.4 Gas-to-Liquid
5.5 Hydrogen fuel
Chapter 6 Sustainable Aviation Fuel Market Estimates & Forecast, By technology (Revenue)
6.1 Key trends, by technology
6.2 HEFA-SPK
6.3 FT-SPK
6.4 HFS-SIP
6.5 ATJ-SPK
6.6 CHJ
Chapter 7 Sustainable Aviation Fuel Market Estimates & Forecast, By Blending Capacity (Revenue)
7.1 Key trends, by blending capacity
7.2 Below 30%
7.3 30% to 50%
7.4 Above 50%
Chapter 8 Sustainable Aviation Fuel Market Estimates & Forecast, By Aircraft Type (Revenue)
8.1 Key trends, by aircraft type
8.2 Commercial aviation
8.3 Military aviation
8.4 Business & general aviation
8.5 Unmanned aerial vehicle
Chapter 9 Sustainable Aviation Fuel Market Estimates & Forecast, By Region
9.1 Key trends, by region
9.2 North America
9.2.1 U.S.
9.2.2 Canada
9.3 Europe
9.3.1 UK
9.3.2 Germany
9.3.3 France
9.3.4 Italy
9.3.5 Spain
9.3.6 Russia
9.3.7 Nordics
9.4 Asia Pacific
9.4.1 China
9.4.2 India
9.4.3 Japan
9.4.4 South Korea
9.4.5 ANZ
9.4.6 Southeast Asia
9.5 Latin America
9.5.1 Brazil
9.5.2 Mexico
9.5.3 Argentina
9.6 MEA
9.6.1 South Africa
9.6.2 Saudi Arabia
9.6.3 UAE
Chapter 10 Company Profiles
10.1 Aemetis, Inc.
10.2 Alder Fuels
10.3 Amyris
10.4 BP Plc
10.5 Fulcrum BioEnergy Inc.
10.6 Gevo Inc.
10.7 LanzaJet
10.8 Neste
10.9 Northwest Advanced Bio-Fuels, LLC
10.10 OMV Aktiengesellschaft
10.11 Preem AB
10.12 Red Rock Biofuels
10.13 SAF + Consortium
10.14 Sasol Corporation
10.15 SG Preston
10.16 SkyNRG BV
10.17 TotalEnergies SE
10.18 Velocys
10.19 WasteFuel
10.20 World Energy
- Aemetis, Inc.
- Alder Fuels
- Fulcrum BioEnergy Inc.
- Gevo Inc.
- LanzaJet
- Neste
- Northwest Advanced Bio-Fuels, LLC
- Preem AB
- Red Rock Biofuels
- Shell PLC
- SkyNRG BV
- World Energy
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