Sustainable Aviation Fuel Market Size, Emerging Trends, Prominent Industry Share, and Business Expansions by 2030 | Neste, AEMETIS, INC., Gevo, Shell PLC

The Sustainable Aviation Fuel Market is estimated for 2023 for the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Sustainable aviation fuel, also known as biofuel for aviation, is a type of biofuel grown from non-food crops specifically for use in aircrafts. It is developed to reduce carbon emissions from conventional jet fuel. Sustainable aviation fuel can be used neat or blended with conventional jet fuel up to 50% by volume.

Market Dynamics:

Growing concerns regarding greenhouse gas emissions from aviation sector is propelling the demand for sustainable aviation fuel. According to International Air Transport Association, aviation accounts for nearly 2% of global carbon emissions. Furthermore, increase in air passenger traffic globally is expected to boost carbon emissions from aviation. For instance, according to Airbus Global Market Forecast 2019-2038, the number of commercial aircrafts is projected to double over the next 20 years to overtake 40,000 aircrafts. This will significantly increase carbon footprint from aviation sector, thus driving adoption of sustainable aviation fuel to lower emissions. In addition, various government regulations and policies promoting the use of biofuels are also fueling the market growth over the forecast period. For instance, in 2018, ASTM International approved blending up to 50% biojet fuel for commercial use.

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Top Key Players are Covered in this Report:

★ Neste
★ AEMETIS
★ INC.
★ Gevo
★ Shell PLC
★ Lanza Jet
★ Sky NRG

Detailed Segmentation

By Fuel Type:

★ Biofuel
★ Hydrogen Fuel
★ Power to Liquid Fuel

By Aircraft Type:

★ Fixed Wings
★ Rotorcraft
★ Others

By Platform:

★ Commercial Aviation
★ Military Aviation
★ Business & General Aviation
★ Unmanned Aerial Vehicle

Key Region/Countries are Classified as Follows:

» North America (U.S., Canada, Mexico)
» Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
» Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of APAC)
» South America (Brazil, Argentina, Rest of SA)
» Middle East & Africa (Turkey, Saudi Arabia, Iran, UAE, Africa, Rest of MEA)

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Increasing Environmental Regulations to Curb Greenhouse Gas Emissions from Aviation is Driving the Sustainable Aviation Fuel Market Growth

Stringent environmental regulations in North America and Europe are requiring airlines to reduce their greenhouse gas (GHG) emissions. Many countries have set national targets to cap or limit carbon emissions from aviation. For example, the European Union has set a goal to cut its net GHG emissions by at least 55% by 2030 from 1990 levels. Air transportation accounts for around 3% of total human-induced global warming according to United Nations Environment Program. Growing concerns about climate change have prompted governments to mandate use of sustainable low-carbon fuels for reducing carbon footprint of aviation industry. The International Civil Aviation Organization (ICAO) has also targeted to achieve carbon neutral growth for international aviation from 2020. Airlines are under immense pressure to transition to cleaner alternative fuels and technologies to comply with evolving emission norms. This is driving greater adoption of sustainable aviation fuels (SAF) which provide significant reduction in lifecycle GHG emissions compared to conventional jet fuel.

Volatility in Crude Oil Prices and Supply Chain Uncertainty Posses Challenge for Sustainable Aviation Fuel Commercialization

Despite potential benefits, high production costs remain a major constraint in commercialization of sustainable aviation fuels. SAF are currently two to six times more expensive to produce compared to traditional jet fuel. Feedstocks used for SAF such as used cooking oil and animal fats also have limited availability and their prices fluctuate with crude oil. The COVID-19 pandemic significantly disrupted global supply chains and reduced demand for air travel, exerting downward pressure on jet fuel prices. Lower fuel costs make it difficult for SAF producers to price their fuels competitively. Moreover, the nascent SAF industry has negligible economies of scale. Unstable crude prices introduce uncertainties over production economics and investment returns which deters investments in building specialized refineries for SAF. Weak price visibility and supply risks pose challenges for airlines to commit firm offtake agreements with SAF producers. This supply chain uncertainty is a key restrain for sustainable aviation fuel market growth currently.

Potential to Generate Additional Revenue through Carbon Offsetting Certificates

The sustainable aviation fuel market offers opportunities for companies involved in production and supply chain. As airlines aim to reduce their carbon footprint and comply with emissions targets, the demand for carbon offsets is rising significantly. Producers of SAF can generate additional revenue streams by selling carbon credits or offsets certificates associated with lifecycle emissions savings of their sustainable fuels. These certificates are in high demand from aviation and other industries looking to neutralize their residual emissions. For instance, under EU Emission Trading Scheme airlines are required to surrender allowances or offset certificates equal to their emissions. Growing global carbon market size indicates sizable prospects for SAF producers to monetize GHG reductions achieved through their low carbon fuels. This offers potential to improve project economics and attract more investments towards expanding sustainable aviation fuel production capacities.

Advancements in Biofuel Production Technologies and Emergence of Renewable Feedstocks are Supporting Market Growth Trends

Research and development activities are ongoing to develop innovative production pathways and technologies for scaling up sustainable aviation fuel supplies. Advanced biofuel technologies such as Fischer-Tropsch process, hydrotreated fatty acid esters and lignocellulosic sugars are gaining attention for their ability to use non-food renewable feedstocks. Second and third generation feedstocks such as waste oils, agricultural residues, bark and algae show promise for supplementing limited conventional resources for jet fuel production. Technologies like hydrothermal liquefaction are enabling effective conversion of wet biomass into drop-in biofuels. Emergence of renewable hydrogen is opening new frontiers for powering e-fuels production. Continued innovations and commercial deployment of such emerging technologies would play a vital role in driving down costs and thereby helping establish sustainable aviation fuel as a mainstream product. This ongoing technological evolution supports a positive growth outlook for the global market over the long run.

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The report answers a number of crucial questions, including:

✦ Which companies dominate the global Sustainable Aviation Fuel market?
✦ What current trends will influence the market over the next few years?
✦ What are the market's opportunities, obstacles, and driving forces?
✦ What predictions for the future can help with strategic decision-making?
✦ What advantages does market research offer businesses?
✦ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
✦ What is the anticipated growth rate for the Sustainable Aviation Fuel market economy globally?

Some of the Major Points of TOC cover:

Chapter 1: Techniques & Scope

1.1 Definition and forecast parameters
1.2 Methodology and forecast parameters
1.3 Information Sources

Chapter 2: Latest Trends Summary

2.1 Regional trends
2.2 Product trends
2.3 End-use trends
2.4 Business trends

Chapter 3: Industry Insights

3.1 Industry fragmentation
3.2 Industry landscape
3.3 Vendor matrix
3.4 Technological and Innovative Landscape

Chapter 4: Sustainable Aviation Fuel Market, By Region

Chapter 5: Company Profiles

5.1 Company Overview
5.2 Financial elements
5.3 Product Landscape
5.4 SWOT Analysis
5.5 Systematic Outlook

Chapter 6: Assumptions and Acronyms

Chapter 7: Research Methodology

Chapter 8: Contact (Continue . . .)

Contact Us:

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.