Sustainable Aviation Fuel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Fuel Type (Biofuel, Hydrogen Fuel, Power to Liquid Fuel), By Technology Type (Fischer-Tropsch, Hydroprocessed Esters and Fatty Acids (HEFA), Synthetic Iso-Paraffinic (SIP) and Alcohol-to-Jet (AJT), By Application Market Share Analysis, By Region
Published Date: January - 2025 | Publisher: MIR | No of Pages: 280 | Industry: Aerospace and Defense | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationSustainable Aviation Fuel Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Fuel Type (Biofuel, Hydrogen Fuel, Power to Liquid Fuel), By Technology Type (Fischer-Tropsch, Hydroprocessed Esters and Fatty Acids (HEFA), Synthetic Iso-Paraffinic (SIP) and Alcohol-to-Jet (AJT), By Application Market Share Analysis, By Region
The market for Global Sustainable Aviation Fuel is expanding because of rising demand for biofuels. With the increasing air travel around the world, the aviation sector is investing in sustainable aviation fuel to cut back on emissions from flights. The possibility for an 80% reduction in emissions is offered by sustainable aviation fuels, which are produced from trash and other sustainable feedstocks. Sustainable air travel has increased the development of sustainable aviation fuels, which would significantly advance the industry's plan to cut emissions with increasing use of Sustainable aviation fuel which further boost up the Global Sustainable fuel market. Furthermore, To increase the availability of the sustainable aviation fuel the government is taking many initiative and developments plans are laid by the aviation associations, which results in the effective impact on the Global Sustainable aviation fuel industry.
Sustainable Aviation Fuel is an aviation alternative fuel that is more environment-friendly than regular jet fuel and satisfies sustainability standards. Other than petroleum, sources of sustainable fuel include biomass, hydrogenated fats and oils, natural gas, coal, and natural gas. Sustainable Aviation Fuel is a "drop-in fuel," which means that it can be mixed with fossil jet fuel without needing any specific infrastructure or equipment modifications.
Recent Developments in Sustainable Aviation fuel Market
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Government Initiatives for Sustainable Aviation Fuel
The European Commission released a set of legislative recommendations dubbed "Fit for 55" in July 2021. The Refuel EU initiative, which seeks to increase SAF production and adoption, is one part of the package. In accordance with the plan, aviation fuel suppliers will be required to ensure that all fuel delivered to aircraft operators at EU airports contains a minimum percentage of SAF, including synthetic fuel. The mandate is anticipated to begin in 2025 with a minimum volume of 2% SAF, rising in five-year increments to a minimum volume of 63% in 2050, of which 28% would be synthetic aviation fuels. The Sustainable Skies Act was launched by the US Congress in May 2021 with the goal of increasing incentives for Sustainable Aviation Fuel (SAF) use. Blenders that furnish SAF with evidence of lifecycle GHG savings of 50% or more will receive a credit starting at 1.50 USD per gallon; higher GHG achievement will result in a credit up to a maximum of 2 USD per gallon.With the purpose of increasing the number of SAF production facilities in the U.S., a complementary proposal also includes a grant of $1 billion over five years.
Reducing Carbon Emission
Sustainable Aviation Fuel is produced from renewable biomass and waste materials has the potential to perform as well as petroleum-based jet fuel while leaving behind a small fraction of the carbon footprint, giving airlines a strong foundation for decoupling greenhouse gas (GHG) emissions from flight.
Increase in Air Passenger Traffic
People's increasing disposable income is significantly empowering them to easily access air transportation, which is one of the primary reasons for the growth of the global sustainable aviation fuel market. People nowadays prefer to travel by air over other modes of traditional transportation such as road and sea. Furthermore, with an increasing number of air passengers and air transport service providers, there is a greater emphasis on deploying a larger number of aircraft. This factor also contributes to market expansion. As a result, the increase in the number of aircraft and air passengers is helping to propel the market growth of Sustainable Aviation fuel.
High Fuel Cost
Fossil-based jet fuel costs about €600 per tonne, whereas current Sustainable Aviation Fuel prices can be 1.5 to 6 times higher. This large range is due to several factors, including varying levels of sustainable aviation fuel industrial and technological maturity and a lack of knowledge regarding the production costs of specific sustainable aviation fuel paths.
Inadequate Supply of Feedstock and Refineries
The raw materials that play a vital part in the entire production chain of sustainable aviation fuels including e-fuels, bio jet fuels, and synthetic fuels are non-biological and biological resources such as waste oil, sugar and oil crops, algae, etc. As a result of the scarcity of the raw materials needed to produce sustainable aviation fuel, demand for it also becomes non-existent. This factor is therefore impeding market expansion.
Rising Biomass Crops offer Opportunities for Sustainable Aviation Fuel Production
The growing preference for producing fuel alternatives such as sustainable aviation fuels enables farmers to grow biomass crops as an additional source of income during off-seasons and deliver feedstock to the industry. Furthermore, increased production benefits the soil by reducing nutrient loss and improving soil quality. As a result, the leading players in the sustainable aviation fuel industry can expect to profit from the procurement, expansion, and production of sustainable aviation fuels in the coming years.
Market Segmentation
Company Profiles
Shell PLC, Neste Oyj, SkyNRG, Gevo Inc., AV Fuel Corporation, Aematis Inc., Fulcrum BioEnergy Inc., LanzaTech Inc, Velocys, Inc
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Attribute |
Details |
|
Base Year |
2022 |
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Historical Years |
2018 – 2022 |
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Estimated Year |
2023 |
|
Forecast Period |
2024 – 2028 |
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Quantitative Units |
Revenue in USD Billion, Volume in Units, and CAGR for 2018-2022
and 2023-2028 |
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Report Coverage |
Revenue forecast, volume forecast, company share, competitive landscape,
growth factors, and trends |
|
Segments Covered |
Fuel Type Technology Type Application Type Region |
|
Regional Scope |
Asia-Pacific, North America, Europe, Middle East & Africa,
South America |
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Country Scope |
United States, Canada, Mexico, United Kingdom, Germany, France,
Italy, Spain, Russia, Poland, Netherland, Norway, China, Japan, South Korea,
India, Malaysia, Indonesia, Thailand, South Africa, Saudi Arabia, United Arab
Emirates, Argentina, Brazil, Colombia. |
|
Key Companies Profiled |
Shell
PLC, Neste Oyj, SkyNRG, Gevo Inc., AV Fuel Corporation, Aematis Inc., Fulcrum
BioEnergy Inc., LanzaTech Inc , Velocys, Inc. and Red Rock Biofuels |
|
Customization Scope |
10% free report customization with purchase. Addition or
alteration to country, regional & segment scope. |
|
Pricing and Purchase Options |
Avail customized purchase options to meet your exact research
needs. Explore purchase options |
|
Delivery Format |
PDF and Excel through Email (We can also provide the editable
version of the report in PPT/pdf format on special request) |
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