Global Sustainable Aviation Fuel Market

Sustainable Aviation Fuel Market Size, Share, Growth Analysis, By Type (Biofuel, Hydrogen Fuel), By Platform (Commercial aviation, Business & General Aviation), By Manufacturing technology (FT-SPK, HEFA-SPK), By Region - Industry Forecast 2024-2031


Report ID: SQMIG10D2031 | Region: Global | Published Date: August, 2024
Pages: 178 | Tables: 90 | Figures: 78

Sustainable Aviation Fuel Market Insights

Sustainable Aviation Fuel Market  size was valued at USD 656.96 million in 2022 and is poised to grow from USD 951.94 million in 2023 to USD 18499.26 million by 2031, growing at a CAGR of 44.9% during the forecast period (2024-2031).

Compared to the conventional jet fuel it replaces, the use of sustainable aviation fuel reduces carbon emissions over the fuel's lifetime. Compared to the traditional jet fuel it replaces, sustainable aviation fuel offers a tremendous reduction in carbon emissions of up to 80% over the fuel's lifetime, depending on the sustainable feedstock used, the production method, and the supply chain to the airport. Utilising sustainable aviation fuel is permitted for any aircraft qualified to use the current jet fuel specification. The SAF is predicted to increase sustainability by eliminating 100% of waste and residues, reducing emissions by 80% of its value. In addition, it enhances aircraft performance while reducing aviation emissions when compared to fossil jet fuel. Its high level of energy and improved aromatic and oxygen content. The achievement of the aviation sector's carbon reduction goals depends in large part on sustainable aviation fuel. The market for sustainable aviation fuel is being positively impacted by the increase in the adoption of alternative solutions by different aviation industry stakeholders, such as hybrid-electric and all-electric aircraft, improved aero-engine efficiency through design modifications, and growing demand due to high fuel efficiency.

 

US Sustainable Aviation Fuel Market is poised to grow at a sustainable CAGR for the next forecast year.

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Sustainable Aviation Fuel Market  size was valued at USD 656.96 million in 2022 and is poised to grow from USD 951.94 million in 2023 to USD 18499.26 million by 2031, growing at a CAGR of 44.9% during the forecast period (2024-2031).

Sustainable Aviation Fuel Market Top Player’s Company Profiles 'Air BP Limited (United Kingdom) ', 'Amyris Inc. (United States) ', 'Avfuel Corporation (United States) ', 'Cielo Waste Solutions Corp. (Canada) ', 'Eni S.p.A. (Italy) ', 'Gevo Inc. (United States) ', 'Honeywell International Inc. (United States) ', 'KLM Royal Dutch Airlines (Netherlands) ', 'LanzaTech Inc. (United States) ', 'Neste Corporation (Finland) ', 'Neutral Fuels LLC (United Arab Emirates) ', 'Nippon Airways Co. Ltd. (Japan) ', 'Northwest Terminal Ltd. (Canada) ', 'Red Rock Biofuels LLC (United States) ', 'SkyNRG B.V. (Netherlands) ', 'Solena Fuels Corporation (United States) ', 'Sundrop Fuels Inc. (United States) ', 'Total SE (France) ', 'Velocys plc (United Kingdom) ', 'World Energy LLC (United States) ', 'Zhejiang Satellite Petrochemical Co. Ltd. (China)'

As a result of increased greenhouse gas emissions due to human activity, climate change is being caused. Fossil fuels like natural gas, coal, and oil and gas are the main sources of carbon dioxide emissions. In addition, Russia and China are among the biggest polluters in the world. Gas, coal, and oil companies owned by OPEC are the primary cause of these pollution. The market's expansion is aided by this element.

Farmers are now more likely to grow biomass crops as an additional source of income during the off-season and to supply the industry with feedstock due to the growing trend away from creating fuel alternatives like sustainable aviation fuels. Additionally, by reducing nutrient loss & enhancing soil quality, this increased production benefits the environment. So, in the upcoming years, the acquisition, expansion, and manufacturing of sustainable aviation fuels will present lucrative chances for the industry's top players.

The market for sustainable aviation fuels is dominated by North America, which is anticipated to expand at a CAGR of 60.94% during the forecast period. The North American market for sustainable aviation fuel is driven by demand from industrialized nations. The aviation industries in these nations are among the biggest in the world. Some of the world's top airlines are based in North America. All have their main offices in North America and are well-known in their respective regions, including American Airlines, Delta Air Lines, United Airlines, and Southwest Airlines. Additionally, the existence of these businesses in North America increases the region's need for environmentally friendly aviation fuel.

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Global Sustainable Aviation Fuel Market

Report ID: SQMIG10D2031

$5,300
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