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Renewable/Bio Jet Fuel Market to have huge growth|Gevo, Inc., Red Rock Biofuels LLC, Honeywell International Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation, AltAir Paramount LLC, S.G. Preston Company
Renewable/Bio Jet Fuel
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However, a major challenge for the bio jet fuel market, is the lack of a viable source for the production of biofuels on a commercial scale which has resulted in the current high bio jet fuel prices, which is leading to the airline companies not buying bio jet fuel on a large scale.
The global Bio Jet Fuel market was pegged at 6,888.6 Mn Liters in 2017 and is anticipated to register a CAGR of 17.3% over the forecast period (2019 – 2026), to reach 28,379.1 Mn Liters by 2026.
Research is being done on alcohol-to-jet pathway, where alcohols such as ethanol or butanol are de-oxygenated and processed into jet fuels. Abundance of feedstock such as ethanol and lignocellulose crops in Latin America is expected to boost growth of the bio jet fuel market in the region. For instance, according to United States Department of Agriculture, in 2015-16 ethanol production in Brazil was registered at 30 billion liters which is expected to reach 31 billion by 2019.
Major players operating in the global Bio Jet Fuel market include, Gevo, Inc., Red Rock Biofuels LLC, Honeywell International Inc., Virent Inc., Fulcrum BioEnergy, Inc., Neste Oil Corporation, AltAir Paramount LLC, S.G. Preston Company, SkyNRG BV, Eni SpA Total S.A., and BP PLC
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