Sustainable Aviation Fuel Market to Grow at a Highest CAGR of 61% by 2030 | Leading Players Neste, Gevo, World Energy, Eni, SkyNRG, Fulcrum, BioEnergy

Sustainable Aviation Fuel Market: by Fuel Type (Biofuel, Hydrogen fuel, power to liquid), Biofuel Manufacturing Technology (Fischer Tropsch Synthetic Paraffinic Kerosene (FT-SPK), Hydroprocessed Esters and Fatty acids - SYNTHETIC PARAFFINIC KEROSENE (HEFA-SPK), Synthetic Iso-Paraffin from fermented hydroprocessed sugar (HFS-SIP), Fischer Tropsch Synthetic Paraffinic Kerosene with aromatics (FT-SPK/A), Catalytic Hydrothermolysis Jet (CHJ), Alcohol to jet spk (ATJ-SPK)), Biofuel blending capacity (below 30%, 30-50%, above 50%), Platform (Commercial Aviation, Narrow Body Aircraft (NBA), Wide Body Aircraft(WBA), Very Large Aircraft (VLA), Regional Transport Aviation (RTA), Military Aviation, Business & General Aviation, Unmanned Aerial Vehicles (UAV)) and Geography (North America, Europe, Asia-Pacific, Middle East and Africa and South America)

Key players in the global sustainable Aviation Fuel market are Neste, Gevo, World Energy, Eni, SkyNRG, Fulcrum, BioEnergy, Velocys, Aemetis Inc, Red Rock Biofuels, and SG Preston among others.

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The absolute need for reduction in GHG emissions in the aviation industry, growing air passenger traffic, the high fuel efficiency of sustainable aviation fuels is some of the factors that have supported long-term expansion for the Sustainable Aviation Fuel market.

Since greenhouse gases capture heat, which is causing global warming. About all of the rise in greenhouse gases in the atmosphere over the past 150 years can be attributed to human activity. Global greenhouse gas emissions must be drastically reduced if we want to avert catastrophic climate change. Global greenhouse gas emissions are around 50 billion tonnes per year [in carbon dioxide equivalents (CO2eq)].

We need to first comprehend where our emissions originate to determine how we may cut emissions most efficiently and what emissions can and cannot be eliminated with present technologies. With a staggering 75.6% global share, energy consumption is by far the major source of human-caused greenhouse gas emissions. Transportation, electricity and heat, buildings, manufacturing, construction, fugitive emissions, and other fuel combustion are all included in the energy sector. If we further break down Energy and transport, we will find that Energy uses in Industry causes 24.2% of emission Transportation causes 16.2% of emission and the rest 59.6% are fragmented into energy usage in Buildings, unallocated fuel combustion, fugitive emissions and energy usage in agriculture and fishing.

While in transportation Road Transport causes 73.5%, the Aviation sector causes 11.7% and the other transport sector causes only 14.8% of emissions. Aviation Industry is keen to bring down Greenhouse gas emissions to achieve a sustainable environment and fulfil the stringent regulatory standards on emissions. To do so alternative solutions, such as hybrid-electric aircraft and all-electric aircraft, renewables jet fuels are being adopted. However, the most feasible solutions concerning socio and economic benefits are the adoption of sustainable aviation fuels such as e-fuels, synthetic fuels, green-jet fuels, bio-jet fuels, and hydrogen fuels. Airlines across the entire aviation industry are looking to expand their commercial fleets, due to rise in the air travel, these fleets are boosting the demand for sustainable aviation fuel as a mid-term solution for reducing greenhouse gas emissions.

Key market drivers

Stringent regulatory standards and the industry's commitments towards a sustainable future are the main driving force for the growth of the Sustainable Aviation Fuel market. Sustainable aviation fuels can help the aviation industry to fulfil its commitments to decouple the increase in carbon emissions from traffic growth. Sustainable fuel can reduce up to 80% of CO2 emissions over the lifecycle of the fuel compared to fossil fuels, here a selection of sustainable feedstock, production method and supply chain to the airport plays a major role.
 
Current market and Growth

The current market size for Sustainable fuels is $350 million in 2022 and is expected to grow to $16K million by 2030 at a CAGR of 61% during the forecast period of 2022-2030.

Sustainable Aviation Fuel Market Segments

The market for sustainable aviation fuel has been divided into categories for fuel, type of aircraft, platform, and region. The global market has been divided into three categories based on fuel type: biofuel, hydrogen fuel, and power-to-liquid fuel. It is divided into fixed wings, rotorcraft, and various types of aircraft. It is divided into commercial aviation, military aviation, business & general aviation, and unmanned aerial vehicle based on the platform.

Based on fuel type biofuel will account for the highest market share, then hydrogen fuel, and power to liquid fuels. Bio-jet fuel is expected to grow rapidly in the coming future due to the developments in technological pathways to commercialize the use of alternative jet fuel.
According to the biofuel blending capacity, the market is segmented into below 30%, 30-50% and above 50% capacity. 30-50% blending segment has performed better than other segments. The reason behind this segment is the existence of moderate blend capacity and drop-in facilities in existing fuel systems.

Geographies with high growth

North America will grow with the highest CAGR during the forecasted period. Countries like US and Canada in North America are focussing on various initiatives to utilize renewable aviation fuel to cater for the need for the reduction of carbon footprints. The North American market is going to be one of the strong demand centres for sustainable aviation fuel due to the support and initiatives to decarbonize aviation emissions.

Conclusion

The aviation sector causes 11.7% of the Greenhouse gas emissions due to which the aviation Industry is keen to bring down Greenhouse gas emissions to achieve a sustainable environment and fulfil the stringent regulatory standards on emissions. To achieve this aviation industry is looking forward to adopting hybrid-electric aircraft and all-electric aircraft, renewables jet fuels. Stringent regulatory standards and the industry's commitments towards a sustainable future are the main driving force for the growth of the Sustainable Aviation Fuel market. The sustainable aviation fuel market is expected to be $16K million by 2030. The global market has been divided into three categories based on fuel type: biofuel, hydrogen fuel, and power-to-liquid fuel. Also Based on blending capacity the market is segmented into below 30%, 30-50% and above 50% capacity. However North American market is going to be one of the strong demand centres for sustainable aviation fuel.

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