Saudi Arabia's Sustainable Aviation Fuel Market to Reap USD 108.38 Million By 2028 | Infinium Global Research

Infinium Global Research has added a new report on Saudi Arabia Sustainable Aviation Fuel Market. The report covers the analysis of regional markets of Saudi Arabia. Moreover, the report gives insights into the factors that affect the regional performance of the market in the short run and in the long run. The Saudi Arabia sustainable aviation fuel market is a customer intelligence and competitive study of the demand, forecasts, trends, and macro indicators in Saudi Arabia market. The dynamics including drivers, restraints, opportunities, political, socioeconomic factors, technological factors, key trends, and future prospects. The Saudi Arabia sustainable aviation fuel market was valued at USD 5.26 Million in 2021 and is expected to reach USD 108.38 Million by 2028 and grow at a CAGR of 56.22% over the forecast period.

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The Sustainable Aviation Fuel (SAF) market in Saudi Arabia is experiencing significant growth, driven by mounting concerns regarding greenhouse gas (GHG) emissions in the aviation sector. The alarming rise in GHG emissions from the aviation industry, contributing to global warming effects, has prompted a shift towards sustainable aviation fuels. While the high cost and limited availability of biomass pose challenges, increased passenger numbers and government investments are expected to fuel market expansion.

The aviation sector's escalating GHG emissions are a cause for concern globally, leading to the urgent need for more sustainable solutions. The aviation industry in Saudi Arabia is no exception, and the International Air Transport Association predicts a remarkable 126% growth in the air transport market in the country over the next two decades. This surge in passengers traveling by air translates to an increased number of flights, thereby boosting the demand for aviation fuel. However, the higher cost associated with SAF, currently priced 4-5 times higher than traditional jet fuel, poses a challenge. Despite this, new investments in SAF are anticipated to drive market growth in the foreseeable future.

The Saudi government and industry associations have embarked on a mission to reduce carbon emissions, aligning with the global shift towards sustainability outlined in the Paris Agreement of 2015. Saudi Arabia's first nationally determined contribution (NDC) under the Paris Agreement includes ambitious carbon mitigation goals through 2030. The Kingdom is taking a multidimensional approach to emissions reduction in the transportation industry, aiming to have 50% of its power generated from renewable sources by 2030. The government is investing in new energy sources, enhancing energy efficiency, and implementing carbon capture and storage programs. These initiatives, coupled with the ability of SAF to reduce emissions by up to 80% over its lifecycle, are driving the growth of the sustainable aviation fuel market.

The number of passengers traveling by air continues to rise, making the air transport sector a significant contributor to Saudi Arabia's economy. The Middle East is the largest market for passenger flows to and from Saudi Arabia, with further growth anticipated in the coming years. The surge in passenger's results in airlines expanding their operations, increasing aircraft fleets, and the number of flights. SAF, known for its efficiency, is well-positioned to meet the growing demand from airlines, thereby bolstering the sustainable aviation fuel market's growth.

Despite these promising developments, the cost of SAF remains a major concern. The substantial price difference between SAF and conventional jet fuel discourages many airlines from purchasing SAF in bulk, limiting its production. Feedstock costs, yields, and plant capital recovery further contribute to SAF's high cost. The reliance on fats, oils, and greases as feedstock, which are currently insufficient in volume, drives prices higher. When airlines blend SAF with jet fuel, the relative cost is passed on to consumers through increased ticket prices, further impeding market growth.

However, the government and key market players are taking significant steps to promote SAF usage, reduce greenhouse gas emissions, and achieve emission targets. In 2022, Saudi Arabia signed several preliminary agreements focused on developing hydrogen fuel cell-based transportation and sustainable jet fuel production. These initiatives are poised to create new growth opportunities for participants in the sustainable aviation fuel market.

Saudi Arabia is on track to lead the charge in sustainable aviation fuels, fostering a cleaner and more sustainable future for the aviation industry.

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Table of Content

Chapter 1. Report Overview

1.1. Report Description

1.2. Research Methods

1.3. Research Approaches

Chapter 2. Executive Summary

Chapter 3. Market Overview

3.1. Introduction

3.2. Market Dynamics

3.2.1. Drivers

3.2.2. Restraints

3.2.3. Opportunities

3.2.4. Challenges

3.3. PEST-Analysis

3.4. Porter's Diamond Model for Saudi Arabia Sustainable Aviation Fuel Market

3.5. IGR-Growth Matrix Analysis

3.6. Competitive Landscape in Saudi Arabia Sustainable Aviation Fuel Market

Chapter 4. Saudi Arabia Sustainable Aviation Fuel Market by Fuel Type

4.1. Biofuel

4.2. Hydrogen Fuel

4.3. Power to Liquid Fuel

Chapter 5. Saudi Arabia Sustainable Aviation Fuel Market by Aircraft Type

5.1. Fixed Wings

5.2. Rotorcraft

5.3. Others

Chapter 6. Saudi Arabia Sustainable Aviation Fuel Market by Platform

6.1. Commercial Aviation

6.2. Military Aviation

6.3. Business & General Aviation

6.4. Unmanned Aerial Vehicle

Chapter 7. Company Profiles

7.1 BP PLC

7.1.1 Overview

7.1.2 Company Overview

7.1.3 Product Portfolio

7.2 Shell plc

7.2.1 Overview

7.2.2 Company Overview

7.2.3 Product Portfolio

7.3 alfanar Group

7.3.1 Overview

7.3.2 Company Overview

7.3.3 Product Portfolio

7.3.4 Recent Developments

7.4 TotalEnergies

7.4.1 Overview

7.4.2 Company Overview

7.4.3 Product Portfolio

7.5 Saudi Arabian Oil Company (Saudi Aramco)

7.5.1 Company Overview

7.5.2 Company Overview

7.5.3 Product Portfolio

7.5.4 Recent Developments

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Reasons to Buy this Report:

=> Comprehensive analysis of regional markets of Saudi Arabia sustainable aviation fuel.

=> Complete coverage of all the product types and application segments to analyze the trends, developments, and forecast of market size up to 2028.

=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.

=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand, and/or diversify.

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