The Worldwide Sustainable Aviation Fuel Industry is Expected to Reach $12.7 Billion by 2028 – ResearchAndMarkets.com
DUBLIN–(BUSINESS WIRE)–The “Global Sustainable aviation fuel Market Research Report by fuel type by Biofuel Manufacturing Technology by Biofuel Blending Capacity, by Platform, by Region – Global Forecast to 2027 – Cumulative Impact of COVID-19” report has been added to ResearchAndMarkets.com’s offering.
The sustainable aviation fuel market is projected to grow from USD 209 million in 2021 to USD 12,716 million by 2028, at a CAGR of 58.8% during the forecast period.
Sustainable aviation fuel is a type of fuel that is designed to be used in aircraft while also increasing aircraft efficiency. Sustainable aviation fuels are derived from renewable feedstock’s and have a chemistry that is very similar to traditional fossil jet fuel. Increased use of sustainable aviation fuels reduces carbon emissions compared to traditional jet fuel because it replaces the fuel’s lifecycle. The aviation industry is working to reduce carbon footprints in order to achieve a sustainable environment and meet stringent regulatory emission standards.
Market Drivers
There is a growing need in the aviation industry to reduce GHG emissions.
Sustainable aviation fuels are critical to meeting the aviation industry’s commitments to decouple carbon emissions increases from traffic growth. SAF reduces CO2 emissions by up to 80% over the lifecycle of the fuel when compared to fossil jet fuel, depending on the sustainable feedstock used, production method, and supply chain to the airport. According to the IATA fact sheet, SAF will be an eligible option for aircraft operators to meet their obligations under the International Aviation Carbon Offsetting and Reduction Scheme (CORSIA).
Market Restraint
Oil crops, sugar crops, algae, waste oil, and other biological and non-biological resources are raw materials that play an important role in the entire production chain of alternative aviation fuels such as synthetic fuels, e-fuels, and biojet fuels. The insufficient supply of raw materials required for the production of sustainable aviation fuel may bring the market to a halt. Furthermore, the limitations of refineries, which play an important role in the proper utilisation of these feedstocks, add to the overall process of SAF production. The low availability of fuel also creates a barrier for the fuel’s blending capacity, resulting in less efficiency.
Market Segmentation
By fuel type
- Biofuel
- Hydrogen Fuel
- Power to Liquid Fuel
- Gas-to-Liquid
By Biofuel Manufacturing Technology
- Hydroprocessed Fatty Acid Esters and Fatty Acids – Synthetic Paraffinic Kerosene (HEFA-SPK)
- Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK)
- Synthetic Iso-paraffin from Fermented Hydroprocessed Sugar (HFS-SIP)
- Alcohol to Jet SPK (ATJ-SPK)
- Catalytic Hydrothermolysis Jet (CHJ)
By Biofuel Blending Capacity
- Below 30%
- 30% to 50%
- Above 50%
By Platform
- Commercial Aviation
- Military Aviation
- Business & General Aviation
- Unmanned Aerial Vehicle
By Region
- North America
- Latin America
- Europe
- China
- Asia Pacific
- Middle East & Africa
Key Questions Addressed by the Report
- What are the Key Opportunities in Global Sustainable aviation fuel Market?
- What will be the growth rate from 2020 to 2027?
- Which segment/region will have highest growth?
- What are the factors that will impact/drive the Market?
- What is the competitive Landscape in the Industry?
- What is the role of key players in the value chain?
Companies Mentioned
- Aemetis Inc.
- Avfuel Corporation
- Fulcrum Bioenergy
- Gevo
- Lanzatech
- Neste
- Preem AB
- Sasol
- SkyNRG
- World Energy
For more information about this report visit https://www.researchandmarkets.com/r/ya1tlu
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