Global Sustainable Aviation Fuel Market

Sustainable Aviation Fuel Market Size, Share, Growth Analysis, By Fuel Type(Biofuel, Hydrogen Fuel, Power to Liquid Fuel, Gas to Liquid Fuel), By Aircraft Type(Fixed Wings, Rotorcraft, Others), By Manufacturing Technology(FT-SPK, HEFA-SPK, HFS-SIP, ATJ-SPK), By End User(Below 30%, 30%-50%, Above 50%), By Platform(Commercial aviation (Narrow-body Aircraft (NBA), Wide-body Aircraft (WBA), Regional Transport Aircraft (RTA)), Military Aviation (Fighter Jet), By End User(Airline (large Airline, Medium Airline, Small Airline), Non-scheduled Operator), 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 News

in Sustainable Aviation Fuel Industry

  • In May 2024, New technologies for SAF production are being explored, such as utilizing captured carbon dioxide or biomass waste feedstocks. This aims to increase SAF production efficiency and reduce its environmental footprint. 
  • In april 2024, Major airlines and energy companies announced significant investments in SAF production facilities and research & development projects. This indicates a growing industry commitment to scaling up SAF production. 
  • In early 2024, Governments around the world continued to announce policy initiatives and incentives to promote the development and adoption of SAF. This included blending mandates and tax breaks for airlines using SAF.
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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 Industry 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 sustainable aviation fuels market is dominated by North America, which is anticipated to expand at a CAGR of 60.94% during the forecast period. The North American sustainable aviation fuel market 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

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