Sustainable Aviation Fuel Market by Fuel Type, Biofuel Manufacturing Technology, Biofuel Blending Capacity, Platform and Region – Global Forecast to 2030 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Sustainable Aviation Fuel Market by Fuel Type (Biofuel, Hydrogen Fuel, Power to Liquid Fuel, Gas to Liquid), Biofuel Manufacturing Technology (FT-SPK, HEFA-SPK, ATJ-SPK, HFS-SIP, CHJ), Biofuel Blending Capacity, Platform, Region – Forecast to 2030” report has been added to ResearchAndMarkets.com’s offering.
The sustainable aviation fuel market is projected to grow from USD 219 million in 2021 to USD 15,716 million by 2030, at a CAGR of 60.8% during the forecast period.
Based on fuel type, the biofuel segment is estimated to lead the sustainable aviation fuel market during the forecast period
Based on fuel type, the biofuel segment of the sustainable aviation fuel market is accounted for the largest share during the forecast period. The greatest potential of biofuel lies in its ability to significantly reduce GHG emissions in the aviation sector and positively impact climate change. The strong and ongoing commitment of the aviation sector and the active involvement of an increasing number of stakeholders such as airlines and many aviation organizations to develop biofuel through voluntary initiatives have been a major driving force behind biofuel development and consumption. The production of biofuel is expected to scale up rapidly in the coming decade due to rapid developments in technological pathways to commercialize the use of alternative jet fuel.
Based on biofuel manufacturing technology, the hydroprocessed fatty acid esters and fatty acids – synthetic paraffinic kerosene (HEFA-SPK) segment is estimated to lead the sustainable aviation fuel market in 2020
Based on biofuel manufacturing technology, the hydroprocessed fatty acid esters and fatty acids – synthetic paraffinic kerosene (HEFA-SPK) segment of the sustainable aviation fuel market is expected to grow at the highest CAGR during the forecast period. The development and deployment of bio-jet fuels, primarily HEFA bio-jet, has progressed from single demonstration flights by airlines or equipment manufacturers to multi-stakeholder supply-chain initiatives including equipment manufacturers, airlines, fuel producers and airports. This growth can be attributed to the technologically being most commercially available for the production of sustainable aviation fuel.
Based on biofuel blending capacity, the 30% to 50% segment is expected to grow at the highest CAGR during the forecast period
Based on biofuel blending capacity, the 30% to 50% segment of the sustainable aviation fuel market is expected to grow at the highest CAGR during the forecast period. The moderate blend capacity, drop-in facility in existing fuel systems, supply logistics infrastructure, and aircraft fleet allows to minimize the overall cost and cater to the volume demands from commercial and military aviation.
Based on platform, the commercial aviation segment is estimated to lead the sustainable aviation fuel market during the forecast period
Based on the platform, the commercial aviation segment of the sustainable aviation fuel market is accounted for the largest share during the forecast period. The growth of this segment can be attributed to the increase in the aircraft fleet of emerging economies in the commercial aviation sectors. The initiatives taken by the various commercial airlines, commercial airports, and aircraft manufacturers across the globe in the adoption of renewable jet fuel is driving the growth of this segment in the sustainable aviation fuel market.
North America is estimated to lead the sustainable aviation fuel market in 2020
The North American market has been studied for the US and Canada. North America is considered to have the largest aircraft fleet with a large number of passengers per year, leading to an increase in aircraft emissions substantially. To cater to the need for reduction in carbon footprints due to increasing air traffic and air passengers, the US and Canada are focused on various initiatives to utilize sustainable aviation fuel. With supportive policies and initiatives to decarbonize aviation emissions, the North American market is deemed to be one of the strong demand centres for sustainable aviation fuel. Switching to more energy-dense biofuel to reach the goal of decarbonizing the aviation sector is expected to play a significant role in reducing GHG concentration across the region.
Market Dynamics
Drivers
- Increasing Need for Reduction in Ghg Emissions
- Increasing Air Passenger Traffic
- High Fuel Efficiency of Saf
Restraints
- Inadequate Availability of Feedstock and Refineries to Meet Saf Production Demand
- Price Difference Between Saf and Conventional Jet Fuels
Opportunities
- Rising Demand for Saf by Airlines Across the Globe
- Drop-In Capability of Saf Increases Its Demand to Reduce Carbon Footprint
- Government Initiatives Such as Tax Reduction on Aviation Fuel
Challenges
- Increased Cost of Saf Increases Operating Cost of Airlines
- Inconsistency in Techno-Economic Analysis (Tea) and Lifecycle Analysis (Lca)
- Huge Investments Required in Approval and Certification of Saf
- Large Quantity of Saf Must be Produced to Increase Fuel Blends
Companies Mentioned
- Aemetis
- Alder Fuels
- Atmosfair
- Bp
- Fulcrum Bioenergy
- Gevo
- Hypoint Inc.
- Lanzatech
- Neste
- Northwest Advanced Biofuels
- Omv
- Phillips 66
- Preem
- Prometheus Fuels
- Red Rock Biofuels
- Saf+ Consortium
- Sg Preston
- Skynrg
- Sundrop Fuels
- Totalenergies
- Velocys
- Wastefuel
- World Energy
- Zeroavia
For more information about this report visit https://www.researchandmarkets.com/r/ccbuei
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